Castor Maritime Inc. Announces the Completion of the Sale of the M/V Magic Horizon

Limassol, Cyprus - May 28, 2024

Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on May 28, 2024, it completed the previously announced sale of the M/V Magic Horizon, a 2010-built Panamax bulk carrier vessel, for a price of $15.8 million, by delivering the vessel to its new owner.

The Company expects to record a net gain of approximately $4.6 million from the above-mentioned sale, excluding any transaction-related costs, during the second quarter of 2024.

About Castor Maritime Inc.
Castor Maritime Inc. is an international provider of shipping transportation services through its ownership of oceangoing cargo vessels.

Castor owns a fleet of 10 vessels, with an aggregate capacity of 0.7 million dwt, currently consisting of three Kamsarmax vessels, five Panamax dry bulk vessels and two 2,700 TEU containership vessels.

For more information, please visit the Company's website at Information on our website does not constitute a part of this press release.

Castor Maritime press release