Toro Corp. Announces the Delivery of its third LPG Carrier Dream Syrax and the Completion of the Sale of M/T Wonder Avior
- Toro Corp. completes sale of M/T Wonder Avior for $30.1 million
- Company expects net gain of $18.6 million
- Acquires 5,000 cbm LPG carrier Dream Syrax for $16.95 million
- None.
LIMASSOL, Cyprus, July 19, 2023 (GLOBE NEWSWIRE) -- Toro Corp. (NASDAQ: TORO) (“Toro”, or the “Company”), an international energy transportation services company, announces that on July 17, 2023 the Company completed the previously announced sale of M/T Wonder Avior, a 2004-built Aframax/LR2 tanker, at a price of
In addition, on July 18, 2023, the Company took delivery of the 2015 eco design Japanese-built 5,000 cbm LPG carrier Dream Syrax, which it had agreed to acquire, as previously announced, on April 27, 2023. The acquisition price of
About Toro Corp.
Toro Corp. is an international energy transportation services company with a fleet of tankers and LPG carriers that carry crude oil, petroleum products and petrochemical gases worldwide.
Toro Corp. currently owns a fleet of seven vessels, with an aggregate capacity of 0.3 million dwt, consisting of one Aframax, one Aframax/LR2, two Handysize tankers and three 5,000 cbm LPG carriers. As previously announced, Toro Corp. has agreed to acquire one additional LPG carrier.
Toro is incorporated under the laws of the Republic of the Marshall Islands. The Company’s common shares trade on the Nasdaq Capital Market under the symbol “TORO”.
For more information, please visit the Company’s website at www.torocorp.com. Information on our website does not constitute a part of this press release.
Cautionary Statement Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements give the Company’s current expectations and projections about future events, including business strategy, goals, and future financial condition and performance, and so actual results could differ materially from what is expressed or implied by the statements. These statements sometimes use words such as “believe”, “anticipate”, “intend”, “estimate”, “forecast”, “project”, “plan”, “potential”, “will”, “may”, “should”, “expect”, “pending”, “indicates” and other words of similar meaning (or the negative thereof) and include all matters that are not historical or current facts.
Forward-looking statements are subject to risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future and/or are beyond our control or precise estimate. Such risks, uncertainties and other factors include, but are not limited to, the occurrence of any event, change or other circumstance that could cause us to record a different net gain on the sale of the M/T Wonder Avior, including the incurrence of higher than expected transaction costs, as well as those factors discussed under “Risk Factors” in our Annual Report for the year ended December 31, 2022 and/or our other filings with the SEC, which can be obtained free of charge on the SEC’s website at http://www.sec.gov. Except to the extent required by applicable law, we disclaim any intention or obligation to update publicly or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.
CONTACT DETAILS
For further information please contact:
Petros Panagiotidis
Toro Corp.
Email: info@torocorp.com
FAQ
When did Toro Corp. complete the sale of M/T Wonder Avior?
What is the sale price of M/T Wonder Avior?
What net gain does the Company expect from the sale?
When did the Company acquire the LPG carrier Dream Syrax?
What is the acquisition price of Dream Syrax?
