Castor Maritime Inc. announced that on May 23, 2024, it completed the previously announced sale of the M/V Magic Vela, a 2011-built Panamax bulk carrier vessel, for a price of $16.4 million, by delivering the vessel to its new owner. The Company expects to record a net gain of approximately $2.7 million from the above-mentioned sale, excluding any transaction-related costs, during the second quarter of 2024.