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Basis of Presentation and General Information (Tables)
 12 Months Ended
Dec. 31, 2023
Basis of Presentation and General information [Abstract]  
Assets and Liabilities of Toro
The assets and liabilities of Toro on March 7, 2023, were as follows:
 
  
March 7,
2023
  
Cash and cash equivalents
  
$
61,359,774
  
Accounts receivable trade, net
    
6,767,408
  
Due from related parties, current
    
4,528,948
  
Inventories
    
890,523
  
Prepaid expenses and other assets, current
    
1,447,062
  
Vessels, net
    
91,492,003
  
Restricted cash
    
700,000
  
Due from related parties, non-current
    
1,708,474
  
Prepaid expenses and other assets, non-current
    
4,449,999
  
Deferred charges, net
    
2,685,922
  
Due to Related Parties
    
(3,001,865
)
Accounts payable
    
(2,432,095
)
Accrued liabilities
    
(3,041,530
)
Long-term debt, net
    
(12,413,056
)
Net assets of Toro
    
155,141,567
  
Less: Investment in Preferred Shares of Toro issued as part of Spin-Off (refer Note 4(c) )
    
(117,222,135
)
Distribution of net assets of Toro to the Company’s shareholders
  
$
37,919,432
  
Consolidated Vessel Owning Subsidiaries
(a)     Consolidated vessel owning subsidiaries:

   
Company
Country of incorporation
Vessel Name
  
DWT
  
Year Built
  
Delivery date to Castor
1
  
Spetses Shipping Co. (“Spetses”)
Marshall Islands
M/V Magic P
  
76,453
  
2004
  
February 2017
2
  
Pikachu Shipping Co. (“Pikachu”)
Marshall Islands
M/V Magic Moon
  
76,602
  
2005
  
October 2019
3
  
Pocahontas Shipping Co. (“Pocahontas”)
Marshall Islands
M/V Magic Horizon
  
76,619
  
2010
  
October 2020
4
  
Jumaru Shipping Co. (“Jumaru”)
Marshall Islands
M/V Magic Nova
  
78,833
  
2010
  
October 2020
5
  
Super Mario Shipping Co. (“Super Mario”)
Marshall Islands
M/V Magic Venus
  
83,416
  
2010
  
March 2021
6
  
Pumba Shipping Co. (“Pumba”)
Marshall Islands
M/V Magic Orion
  
180,200
  
2006
  
March 2021
7
  
Liono Shipping Co. (“Liono”)
Marshall Islands
M/V Magic Thunder
  
83,375
  
2011
  
April 2021
8
  
Stewie Shipping Co. (“Stewie”)
Marshall Islands
M/V Magic Vela
  
75,003
  
2011
  
May 2021
9
  
Snoopy Shipping Co. (“Snoopy”)
Marshall Islands
M/V Magic Nebula
  
80,281
  
2010
  
May 2021
10
  
Mulan Shipping Co. (“Mulan”)
Marshall Islands
M/V Magic Starlight
  
81,048
  
2015
  
May 2021
11
  
Cinderella Shipping Co. (“Cinderella”)
Marshall Islands
M/V Magic Eclipse
  
74,940
  
2011
  
June 2021
12
  
Mickey Shipping Co. (“Mickey”)
Marshall Islands
M/V Magic Callisto
  
74,930
  
2012
  
January 2022
13
  
Songoku Shipping Co. (“Songoku”)
Marshall Islands
M/V Magic Pluto
  
74,940
  
2013
  
August 2021
14
  
Asterix Shipping Co. (“Asterix”)
Marshall Islands
M/V Magic Perseus
  
82,158
  
2013
  
August 2021
15
  
Johnny Bravo Shipping Co. (“Johnny Bravo”)
Marshall Islands
M/V Magic Mars
  
76,822
  
2014
  
September 2021
16
  
Jerry Shipping Co. (“Jerry S”)
Marshall Islands
M/V Ariana A
  
38,117
  
2005
  
November 2022
17
  
Tom Shipping Co. (“Tom S”)
Marshall Islands
M/V Gabriela A
  
38,121
  
2005
  
November 2022
 
Consolidated Subsidiaries Formed to Acquire Vessels
(b)     Consolidated subsidiaries formed to acquire vessels:
   
Company
Country of incorporation
  
1
  
Tom Maritime Ltd. (“Tom M”)
Malta
  
2
  
Jerry Maritime Ltd. (“Jerry M”)
Malta
  
3
  
Containco Shipping Inc.
Marshall Islands
  
Consolidated Non-Vessel Owning Subsidiaries
(c)     Consolidated non-vessel owning subsidiaries:

    Company Country of incorporation
 
1
  
Castor Maritime SCR Corp. (“Castor SCR”)(1)
 Marshall Islands  
2
  
Bagheera Shipping Co. (“Bagheera”)(2)
 Marshall Islands  
3
  
Luffy Shipping Co. (“Luffy”)(3)
 Marshall Islands  
4
  Kabamaru Shipping Co. (“Kabamaru”)(4) Marshall Islands  
5
  Bistro Maritime Co. (“Bistro”)(5) Marshall Islands  
6
  Garfield Shipping Co. (“Garfield”)(6) Marshall Islands  

(1)
Incorporated under the laws of the Marshall Islands on September 16, 2021, this entity serves as the Company’s subsidiaries’ cash manager with effect from November 1, 2021.

(2)
Bagheera Shipping Co. no longer owns any vessel following the sale of the M/V Magic Rainbow on March 13, 2023, and delivery of such vessel to an unaffiliated third-party on April 18, 2023 (see also Note 7).

(3)
Luffy Shipping Co. no longer owns any vessel following the sale of the M/V Magic Twilight on June 2, 2023, and delivery of such vessel to an unaffiliated third-party on July 20, 2023 (see also Note 7).

(4)
Kabamaru Shipping Co. no longer owns any vessel following the sale of the M/V Magic Argo on September 22, 2023, and delivery of such vessel to an unaffiliated third-party on December 14, 2023 (see also Note 7).

(5)
Bistro Maritime Co. no longer owns any vessel following the sale of the M/V Magic Sun on October 6, 2023, and delivery of such vessel to an unaffiliated third-party on November 14, 2023 (see also Note 7).

(6)
Garfield Shipping Co. no longer owns any vessel following the sale of the M/V Magic Phoenix on October 16, 2023, and delivery of such vessel to an unaffiliated third-party on November 27, 2023 (see also Note 7).
Entities Comprising Discontinued Operations as Part of Spin-Off
(d)     Entities comprising the discontinued operations as part of the Spin-Off:

 
  
Company
Country of incorporation
Vessel Name
  
DWT
  
Year Built
  
Delivery date to Castor
1
  
Toro Corp. (7)
Marshall Islands
—
  
—
  
—
  
—
2
  
Toro RBX Corp. (“Toro RBX”) (8)
Marshall Islands
—
  
—
  
—
  
—
3
  
Rocket Shipping Co. (“Rocket”)
Marshall Islands
M/T Wonder Polaris
  
115,351
  
2005
  
March 2021
4
  
Gamora Shipping Co. (“Gamora”)
Marshall Islands
M/T Wonder Sirius
  
115,341
  
2005
  
March 2021
5
  
Starlord Shipping Co. (“Starlord”)
Marshall Islands
M/T Wonder Vega
  
106,062
  
2005
  
May 2021
6
  
Hawkeye Shipping Co. (“Hawkeye”)
Marshall Islands
M/T Wonder Avior
  
106,162
  
2004
  
May 2021
7
  
Vision Shipping Co. (“Vision”)
Marshall Islands
M/T Wonder Mimosa
  
36,718
  
2006
  
May 2021
8
  
Colossus Shipping Co. (“Colossus”)
Marshall Islands
M/T Wonder Musica
  
106,290
  
2004
  
June 2021
9
  
Xavier Shipping Co. (“Xavier”)
Marshall Islands
M/T Wonder Formosa
  
36,660
  
2006
  
June 2021
10
  
Drax Shipping Co. (“Drax”)
Marshall Islands
M/T Wonder Bellatrix
  
115,341
  
2006
  
December 2021
11
  
Elektra Shipping Co. (“Elektra”) (9)
Marshall Islands
—
  
—
  
—
  
—

(7)
Incorporated on July 29, 2022. At the Distribution Date, Toro served as the holding company to which the equity interests of the Aframax/LR2 and Handysize tanker owning subsidiaries and Elektra were contributed.

(8)
Incorporated under the laws of the Marshall Islands on October 3, 2022, to serve, with effect from the Distribution Date, as the cash manager of Toro and its subsidiaries.

(9)
Elektra no longer owns any vessel following the sale of the M/T Wonder Arcturus on May 9, 2022, and delivery of such vessel to an unaffiliated third-party on July 15, 2022.
Revenue from Charterers
During the years ended December 31, 2021, 2022 and 2023, charterers that individually accounted for more than 10% of the Company’s total vessel revenues (as percentages of total vessel revenues), all derived from the Company’s dry bulk and containers segments, were as follows:
 
Charterer
    
Year Ended
December 31, 2021
    
Year Ended
December 31, 2022
    
Year Ended
December 31, 2023
  
A
    

25
%
    
31
%
    
42
%
B
      
—
 %    
18
%
    
28
%
C
      
—
 %    
—
 %    
10
%
D
      
15
%
    
26
%
    
—
 %
E 

   
14
%
    
—
 %
    
—
%
Total
      
54
%
    
75
%
    
80
%