Cyprus-based bulker and boxship owner Castor Maritime has completed a sale and leaseback transaction with a Japanese counterparty for one of its kamsarmaxes.
The Nasdaq-listed company has struck a deal for the 2011-built Magic Thunder, with the 83,400 dwt vessel bringing in about $14.6m.
The vesssel will remain under Castor’s commercial control under a bareboat charter with a five-year term. The deal includes a purchase option that kicks in after the second year.
The move marks Castor’s third sale this year after the Petros Panagiotidis-led outfit shipped out a pair of panamax bulkers to Pavimar in a deal worth $28m.
The company counts nine vessels in its fleet, including four kamsarmax units.
