Nasdaq-listed owner Toro Corp has added a modern products tanker to its fleet as it reduces its footprint in the LPG segment.
The Petros Panagiotidis-led spinoff of Cyprus-based Castor Maritime has acquired the 2014-built MR2 tanker named Wonder Maia for $30.3m. The South Korea-built vessel was delivered to the company in late September.
The acquisition comes as Toro trims its LPG exposure. The company sold the 5,000 cu m Dream Syrax for $18m, and the 2020-built, 4,700 cu m Dream Terrax to its own spin-off and Panagiotidis-controlled Nasdaq-listed vehicle Robin Energy. Both ships changed hands last month.
Robin Energy, created in March when Toro divested its last handysize product carrier, Wonder Mimosa, now owns two of Toro’s former LPG units and the 2006-built MR1 unit.
Meanwhile, Toro has been tilting back toward product tankers. In June, it acquired the 2021-built Celsius Philadelphia, renamed Wonder Altair, and fixed it on a 12-month time charter at $20,600 per day, starting upon expiration of the current employment at $17,675 per day that can last until February 2026.
Since its establishment in 2022, Toro has sold off seven of its original eight tankers at a profit while reshuffling into LPG carriers. Following the latest moves, the company’s fleet stands at two MR2 tankers and two LPG carriers.
