Welcome to our dedicated page for Toro news (Ticker: TORO), a resource for investors and traders seeking the latest updates and insights on Toro stock.
Toro Corp (TORO) operates a specialized fleet of tanker vessels transporting crude oil and refined petroleum products globally. This page serves as the definitive source for verified corporate announcements and maritime industry developments related to TORO.
Investors and industry professionals will find timely updates on earnings reports, time charter agreements, and strategic initiatives across TORO's Aframax, LPG carrier, and Handysize tanker segments. Our curated news collection simplifies tracking operational milestones and market positioning in the energy transportation sector.
The repository includes updates on fleet utilization metrics, new vessel acquisitions, and partnership developments. All content is vetted for relevance to TORO's core operations in maritime logistics and petroleum product transportation.
For ongoing monitoring of TORO's performance in dynamic shipping markets, bookmark this page or check regularly for the latest verified updates. Access essential information without promotional content or speculative analysis.
Toro Corp. (NASDAQ: TORO), an international energy transportation services company, held its 2024 Annual General Meeting of Shareholders on September 6, 2024, in Limassol, Cyprus. The meeting resulted in two key approvals:
1. The re-election of Mr. Petros Zavakopoulos as the Company's Class A Director until the 2027 Annual General Meeting.
2. The appointment of Deloitte Certified Public Accountants S.A. as the Company's independent auditors for the fiscal year 2024.
Toro Corp. currently operates a fleet of five vessels with a total capacity of 0.1 million dwt, consisting of one Handysize tanker and four 5,000 cbm LPG carriers. The company specializes in transporting crude oil, petroleum products, and petrochemical gases worldwide.
Toro Corp. (NASDAQ: TORO) reported a net income of $1.1 million for Q2 2024, a sharp decrease from $55.4 million in Q2 2023. For the first half of 2024, net income was $23.3 million, down from $77.3 million in the same period last year. Total vessel revenues also saw a significant drop, falling 77.9% YoY to $5.5 million in Q2 2024, and 77.7% YoY to $12.5 million for the six months ended June 30, 2024. The company attributed these declines to exiting the Aframax/LR2 segment and lower Daily TCE Rates for LPG vessels. Despite lower revenues, cash and restricted cash increased to $189.2 million from $155.6 million as of December 31, 2023. The company also repurchased 644,556 common shares for $3.7 million. Toro's fleet currently consists of 5.1 vessels operating at a Daily TCE Rate of $11,345. Management emphasized strong operating cash flows and a robust market for LPG carriers.
Toro Corp. (NASDAQ: TORO), an international energy transportation services company, has announced its 2024 Annual General Meeting of Shareholders. The meeting is scheduled for September 6, 2024, at 5:00 p.m. local time in Limassol, Cyprus. The company's Board of Directors has set July 8, 2024, as the record date for determining shareholders eligible to receive notice and vote at the meeting.
Toro Corp. operates a fleet of five vessels, including one Handysize tanker and four 5,000 cbm LPG carriers, with a total capacity of 0.1 million dwt. The company provides transportation services for crude oil, petroleum products, and petrochemical gases worldwide. Toro's common shares are traded on the Nasdaq Capital Market under the symbol TORO.
Toro Corp. reported a net income of $22.1 million for the three months ended March 31, 2024. The company's total vessel revenues decreased by 77.6% to $7.0 million compared to the same period in 2023. Earnings per common share decreased to $1.11. Despite a slight increase in net income, the EBITDA decreased to $21.4 million. The company repurchased shares and had cash and restricted cash of $186.4 million as of March 31, 2024. Management remains positive about growth opportunities.
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