Castor Maritime Inc.

Castor Maritime Inc. is a maritime transportation and vessel trading company involved in the acquisition, sale, and management of shipping assets. The company operates in global markets and recently disclosed a transaction involving the sale of vessels for $28 million.

CCI Score

-19.84

0.02% April 18

Latest Event

Castor Maritime Related Party Vessel Sale Raises Governance Concerns

Castor Maritime Inc. conducted a $28 million sale of two Panamax bulk carriers to entities tied to a family member of its Chairman and CEO. Although the transactions were approved by an independent committee, the involvement of related parties raises ethical concerns about potential conflicts of interest and corporate governance practices.

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ENABLER

Castor Maritime Inc. is currently rated as an Enabler.

-10 to -19 CCI Score

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Latest Events

MAR

21

2025

Castor Maritime Related Party Vessel Sale Raises Governance Concerns
-19.84

Castor Maritime Inc. conducted a $28 million sale of two Panamax bulk carriers to entities tied to a family member of its Chairman and CEO. Although the transactions were approved by an independent committee, the involvement of related parties raises ethical concerns about potential conflicts of interest and corporate governance practices.
-20

Business Practices and Ethical Responsibility

March 24

The transaction, despite being approved by disinterested directors, involves a sale to entities connected to a family member of top executives. This related party deal raises red flags about the integrity of business practices and governance standards. Such practices can erode investor trust and may indirectly contribute to an environment where ethical lapses are tolerated, a condition that can foster broader corporate complicity in oppressive systems.

Castor Maritime Inc. Announces Sale of Two Panamax Bulk Carriers for $28 Million