Nasdaq-listed Toro Corp. remains active in the sale-and-purchase arena after the latest move to buy a modern tanker for $30.3m.
The Petros Panagiotidis-led company said it had sealed a deal on September 19, through a wholly owned subsidiary, with an unaffiliated third-party to acquire the 2014-built MR (MR2 class) tanker Wonder Maia for a purchase price of $30.3m.
The Wonder Maia was delivered to the company on September 29. On September 24, the company paid deposit to the vessel’s seller amounting to $3.0m, or 10% of the purchase price of the vessel, and the balance of $27.3m is payable upon delivery of the vessel.
The acquisition comes few days after Toro made a move to sell an LPG carrier at a price of $20.0m.
The company on September 16 entered into an agreement with a wholly owned subsidiary of Robin, for the sale of the LPG carrier Dream Terrax. The vessel was delivered to its new owner on September 25.
Earlier this year, Toro sold another LPG carrier for $18m. The owner sealed an agreement on July 10 with a wholly owned subsidiary of Robin, for the sale of the LPG carrier Dream Syrax, at a price of $18.0m. The vessel changed hands last month.
Petros Panagiotidis, chief executive officer of Toro Corp, commented: “We remain focused on fleet optimization while enhancing shareholder value.”
