Castor Maritime to Sell Containership, Taking $3.3m Loss

By Sam Hamilton

Updated December 02, 2024 at 08:59 pm Published December 03, 2024 at 08:45 am Etc/UTC

Cyprus-based shipowner Castor Maritime has agreed to sell one of its three containerships, incurring a loss of approximately $3.3 million in the process.

The company, led by Petros Panagiotidis, has finalized a deal to sell the 2005-built, 2,700 TEU Ariana A to an unaffiliated third party for $16.5 million.

This vessel, originally acquired in late 2022 from Ismini Panagiotidi-controlled Pavimar Shipping, was purchased in a family-related transaction for $25.38 million. The German-built containership is currently valued by VesselsValue at $17.25 million.

Listed on Nasdaq, Castor Maritime owns a fleet of 13 vessels, including 10 bulk carriers and three containerships. This sale comes shortly after the company’s purchase of the 2009-built, 1,850 TEU Raphaela for $16.49 million in September. The sale of the Ariana A is expected to be completed in the first quarter of 2025.