Castor Maritime Inc. announced that on December 21, 2023, the company entered into an agreement with an entity beneficially owned by a family member of its Chairman, Chief Executive Officer and Chief Financial Officer for the sale of the M/V Magic Venus, a 2010-built Kamsarmax bulk carrier vessel, for a price of $17.5 million. The terms of the transaction were negotiated and approved by a special committee of its disinterested and independent directors. The vessel is expected to be delivered to its new owner by the end of the first quarter of 2024.