Cypriot shipowner Castor Maritime has sold its first vessel after 18 months of exponential fleet expansion through sale-and purchase-markets.

The Nasdaq-listed company said a deal has been agreed to offload the 106,100-dwt aframax/LR2 Wonder Arcturus (built 2002) for $13.15m.

The buyer has not been disclosed but delivery will take place during the second quarter.