Castor Maritime Reports Profit Amid Revenue Decline

Castor Maritime (CTRM) has released an update.

Castor Maritime Inc., a global shipping company, reported a notable turnaround with a net income of $2.8 million for Q3 2024, reversing a $5.4 million loss from the same period last year. Despite a 37.4% decline in vessel revenues, the company’s strategic sale of vessels and reduced operating expenses contributed to this positive outcome. Castor continues to strengthen its financial position by expanding its fleet and significantly reducing its debt, signaling a strong commitment to future growth.

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