Toro acquires two MR tankers for combined $83.4 million

  • Toro Corp. acquired two MR tankers through separate wholly-owned subsidiaries.
  • The vessels cost $45.9 million and $37.5 million, totaling $83.4 million.
  • Toro's fleet now comprises four MR tankers and two LPG carriers.

Toro Corp. acquired two MR tanker vessels for a combined $83.4 million through separate wholly-owned subsidiaries from unaffiliated third parties. The company paid $45.9 million for the 2018 Japanese-built M/T Wonder Alasia and $37.5 million for a 2014 Korean-built, scrubber-fitted vessel, taking delivery on September 17 and September 18, 2026, respectively. The second tanker is expected to be renamed M/T Wonder Atria. Toro funded both purchases with cash on hand, and its shares rose 2.6% Friday after the announcement. The acquisitions bring the company's fleet to six vessels: four MR tankers and two LPG carriers serving global refined petroleum and petrochemical gas markets. Toro's common shares trade on Nasdaq under TORO.

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