Castor Maritime Inc. Announces the Sale of the M/V Gabriela A for a Price of $19.3 Million with an Expected Net Gain of $0.8 Million

Limassol, Cyprus, December 19, 2024

Castor Maritime Inc. (NASDAQ: CTRM), ("Castor" or the "Company"), a diversified global shipping and energy company, announces that on December 4, 2024, it entered, through a wholly-owned subsidiary, into an agreement with an unaffiliated third party for the sale of the M/V Gabriela A, a 2005-built 2,700 TEU containership vessel, for a price of $19.3 million.

The vessel is expected to be delivered to its new owner during the first half of 2025.

The Company expects to record during the first half of 2025 a net gain of approximately $0.8 million from the sale of the M/V Gabriela A, excluding any transaction-related costs.

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 13 vessels, with an aggregate capacity of 0.9 million dwt, including the M/V Ariana A that the Company agreed to sell on November 13, 2024, and the M/V Gabriela A. Castor is also the majority shareholder of the Frankfurt-listed investment and asset manager MPC Münchmeyer Petersen Capital AG.

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

Castor Maritime press release