Nasdaq-listed owner Toro Corp has made a swift return to the tankers segment with the acquisition of a modern MR unit.
The Petros Panagiotidis-led spinoff of Cyprus-based Castor Maritime has struck a deal for an unnamed 2021-built products carrier costing $36.25m.
The company said it would fund the acquisition with cash on hand and that it expects to take over the vessel during the second or third quarter of this year.
In March, Toro spun off its last remaining handysize products carrier, Wonder Mimosa, into a newly formed Nasdaq-listed subsidiary Robin Energy, leaving the company with four 5,000 cu m LPG carriers acquired in 2023.
The company was originally established in 2022 with a fleet of eight tankers, seven of which were sold off at a profit.
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