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Limassol, Cyprus - January 17, 2024 Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping company, announces that on January 16, 2024, it completed the previously announced sale of the M/V Magic Moon a 2005-built Panamax bulk carrier vessel, for a price of $11.8 million, by delivering the vessel to its new owner. The Company expects to record a net gain of approximately $3.0 million from the above-mentioned sale, excluding any transaction-related costs during the first 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 16 vessels, with an aggregate capacity of 1.3 million dwt, currently consisting of the Capesize vessel M/V Magic Orion, which the company agreed to sell on December 7, 2023, five Kamsarmax vessels, including the M/V Magic Venus, which the Company agreed to sell on December 21, 2023, eight Panamax dry bulk vessels, and two 2,700 TEU containership vessels. Castor Maritime press release 
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