Toro adds to tanker fleet with $30m MR2 buy
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 <em>Wonder Maia</em> 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 <em>Dream Syrax</em> for $18m, and the 2020-built, 4,700 cu m <em>Dream Terrax</em> 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, <em>Wonder Mimosa</em>, 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 <em>Celsius Philadelphia</em>, renamed <em>Wonder Altair</em>, 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.