Castor Maritime Inc Stock Price, News & Analysis

Castor Maritime Inc. (NASDAQ: CTRM) has completed the sale of the M/V Magic Eclipse, a 2011-built Panamax bulk carrier vessel, on March 24, 2025. The delivery to the new owner marks the execution of a previously announced transaction.

The company currently maintains a fleet of 11 vessels with an aggregate capacity of 0.8 million dwt, which includes two vessels pending sale: the M/V Gabriela A (sale agreement from December 4, 2024) and the M/V Magic Callisto (sale agreement from March 2025). Castor Maritime has also diversified its operations as the majority shareholder of Frankfurt-listed MPC Münchmeyer Petersen Capital AG, positioning itself as a global shipping and energy company involved in investment, asset management, vessel ownership, and energy infrastructure projects.

Castor Maritime (NASDAQ: CTRM) has announced the sale of two Panamax vessels - the M/V Magic Eclipse (2011-built) and M/V Magic Callisto (2012-built) - for a combined price of $28.0 million. The buyers are entities beneficially owned by a family member of the company's Chairman, CEO, and CFO.

The transactions, negotiated and approved by a special committee of independent directors, are expected to be completed during the first half of 2025. Following these sales and including the previously announced sale of M/V Gabriela A, Castor's fleet will consist of 12 vessels with an aggregate capacity of 0.8 million dwt.

Castor Maritime Inc. (NASDAQ: CTRM) has completed the sale of its containership vessel M/V Ariana A for $16.5 million on January 22, 2025. The 2005-built 2,700 TEU vessel's sale is expected to result in a net loss of approximately $3.3 million during the first quarter of 2025, excluding transaction costs.

The company, a diversified global shipping and energy company, maintains a fleet of 12 vessels with a total capacity of 0.8 million dwt, including the M/V Gabriela A which is under agreement for sale since December 4, 2024. Castor Maritime is also the majority shareholder of Frankfurt-listed MPC Münchmeyer Petersen Capital AG.

Castor Maritime (NASDAQ: CTRM) has announced the sale of its containership vessel M/V Gabriela A for $19.3 million. The agreement was entered on December 4, 2024, with delivery expected in the first half of 2025. The company anticipates recording a net gain of approximately $0.8 million from the sale, excluding transaction costs.

The M/V Gabriela A is a 2005-built 2,700 TEU containership. Following this sale and the previously announced sale of M/V Ariana A, Castor Maritime's fleet will consist of 13 vessels with an aggregate capacity of 0.9 million dwt. The company operates as a diversified global shipping and energy company, maintaining majority ownership in Frankfurt-listed MPC Münchmeyer Petersen Capital AG.

Castor Maritime Inc. (NASDAQ: CTRM) has completed the acquisition of a 74.09% stake in Frankfurt-listed MPC Münchmeyer Petersen Capital AG through its subsidiary Thalvora Holdings GmbH. The transaction involved 26,116,378 shares at €7.00 per share, totaling €182.8 million (approximately USD 192.6 million).

Following the acquisition, MPC Capital's Supervisory Board will include Mr. Ulf Holländer and two new members: Petros Panagiotidis (Castor's CEO and Chairman) and Petros Zavakopoulos, pending confirmations from Hamburg's local court.

MPC Capital specializes in maritime and energy infrastructure projects, managing assets worth EUR 4.8 billion. The company is also the founder of Oslo-listed MPC Container Ships ASA and MPC Energy Solutions NV.

Castor Maritime (NASDAQ: CTRM) has announced the acquisition of a 74.09% stake (26,116,378 shares) in Frankfurt-listed MPC Münchmeyer Petersen Capital AG for €7.00 per share, totaling €182.8 million (approximately $192.6 million) in cash. The transaction is financed through a $100 million senior term loan facility and $50 million from Series D cumulative convertible preferred shares issuance, both from Toro Corp, an entity controlled by Castor's Chairman and CEO.

MPC Capital is an investment and asset manager specializing in maritime and energy infrastructure projects, with €4.8 billion in assets under management. The transaction is expected to complete in December 2024, subject to customary conditions.

Castor Maritime (NASDAQ: CTRM) has announced the sale of its containership vessel M/V Ariana A for $16.5 million. The 2005-built 2,700 TEU vessel is expected to be delivered to an unaffiliated third party during the first quarter of 2025. The company anticipates recording a net loss of approximately $3.3 million from this transaction. Castor Maritime's fleet currently consists of 13 vessels with a total capacity of 0.9 million dwt, including four Kamsarmax, five Panamax, one Ultramax dry bulk vessels, and three containerships (including M/V Ariana A).

Castor Maritime Inc. (NASDAQ: CTRM) reported financial results for Q3 2024, with net income of $2.8 million compared to a net loss of $5.4 million in Q3 2023. Total vessel revenues decreased 37.4% to $13.4 million from $21.4 million year-over-year. For the nine months ended September 30, 2024, net income increased to $48.0 million from $13.6 million in the same period of 2023. The company's cash position strengthened to $171.5 million as of September 30, 2024, up from $120.9 million at the end of 2023. During Q3, Castor acquired its first Ultramax bulk carrier and announced acquisitions of a Kamsarmax bulk carrier and a containership vessel, expanding its fleet to 13 vessels.

Castor Maritime Inc. (NASDAQ: CTRM) announced the delivery of the M/V Raphaela, a 2008-built 1,850 TEU containership, on October 3, 2024. The acquisition, previously announced on September 10, 2024, was fully financed with cash on hand. The vessel will be employed under a four-month time charter contract at a gross daily rate of $29,000.

Castor Maritime is a diversified global shipping company with a fleet of 13 vessels, totaling 0.9 million dwt capacity. The fleet includes four Kamsarmax dry bulk vessels (including one recently announced purchase), five Panamax dry bulk vessels, one Ultramax dry bulk vessel, and three containership vessels (one 1,850 TEU and two 2,700 TEU).