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Limassol, Cyprus, March 21, 2025 Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping and energy company, announces that in March 2025, the Company entered into two separate agreements with entities beneficially owned by a family member of our Chairman, Chief Executive Officer and Chief Financial Officer for the sale of the M/V Magic Eclipse, a 2011-built Panamax bulk carrier vessel, and the M/V Magic Callisto, a 2012-built Panamax vessel, for a combined price of $28.0 million. The terms of each transaction were negotiated and approved by a special committee of our disinterested and independent directors. The vessels are expected to be delivered to their new owners during the remainder of the first half of 2025. About Castor Maritime Inc. Castor Maritime Inc. is a diversified global shipping and energy company, with activities directly and indirectly in investment and asset management, vessel ownership, technical and commercial ship management and energy infrastructure projects. Castor owns a fleet of 12 vessels, with an aggregate capacity of 0.8 million dwt including the M/V Gabriela A that the Company agreed to sell on December 4, 2024, the M/V Magic Eclipse and the M/V Magic Callisto. Castor is also the majority shareholder of the Frankfurt-listed investment and asset manager MPC Munchmeyer Petersen Capital AG. Castor Maritime press release 
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