Castor Sells 2007-built Panamax for $12.6 Million

Shipping company Castor Maritime announced it has completed its sale of a a 2007-built Panamax bulk carrier for $12.6 million. 

The company had revealed in March that it sold the 73,593 dwt Magic Rainbow to an undisclosed buyer.

Nasdaq-listed Castor said it expects to record an approximately $4.4 million net gain on the sale, excluding transaction related costs.

Castor owns a fleet of 20 vessels, with an aggregate capacity of 1.7 million dwt, currently consisting of one Capesize, seven Kamsarmax, 10 Panamax dry bulk vessels and two 2,700 TEU containerships.