Robin Energy Ltd. Announces Vessel Acquisition, Doubling its Fleet
Robin Energy Ltd. (NASDAQ: RBNE) has announced the acquisition of a 2015-built 5,000 cbm LPG Carrier vessel from Toro Corp. for $18 million. The transaction, expected to close in Q3 2025, will double the company's fleet size.
The acquisition was approved by independent board members of both companies, with the transaction involving Toro Corp., a Nasdaq-listed entity controlled by Robin Energy's Chairman and CEO. The company plans to fund the purchase with available cash on hand.
Upon completion, Robin Energy's fleet will consist of two vessels: the newly acquired LPG Carrier and an existing Handysize tanker vessel, both dedicated to transporting petrochemical gases and refined petroleum products globally.
Robin Energy Ltd. (NASDAQ: RBNE) ha annunciato l'acquisizione di una nave trasportatrice di GPL da 5.000 cbm costruita nel 2015 da Toro Corp. per 18 milioni di dollari. L'operazione, che dovrebbe concludersi nel terzo trimestre del 2025, raddoppierà la dimensione della flotta dell'azienda.
L'acquisizione è stata approvata dai membri indipendenti del consiglio di entrambe le società, con la transazione che coinvolge Toro Corp., un'entità quotata al Nasdaq controllata dal Presidente e CEO di Robin Energy. La società prevede di finanziare l'acquisto con la liquidità disponibile.
Al completamento, la flotta di Robin Energy sarà composta da due navi: la nuova nave trasportatrice di GPL e una nave Handysize esistente, entrambe dedicate al trasporto globale di gas petrolchimici e prodotti petroliferi raffinati.
Robin Energy Ltd. (NASDAQ: RBNE) ha anunciado la adquisición de un buque transportador de GLP de 5.000 cbm construido en 2015 de Toro Corp. por 18 millones de dólares. La transacción, que se espera cerrar en el tercer trimestre de 2025, duplicará el tamaño de la flota de la empresa.
La adquisición fue aprobada por miembros independientes de la junta directiva de ambas compañías, siendo la transacción con Toro Corp., una entidad cotizada en Nasdaq controlada por el presidente y CEO de Robin Energy. La empresa planea financiar la compra con el efectivo disponible.
Al completarse, la flota de Robin Energy consistirá en dos buques: el transportador de GLP recién adquirido y un buque Handysize existente, ambos dedicados al transporte global de gases petroquímicos y productos petrolíferos refinados.
Robin Energy Ltd. (NASDAQ: RBNE)는 Toro Corp.로부터 2015년에 건조된 5,000 cbm LPG 운반선을 1,800만 달러에 인수한다고 발표했습니다. 이 거래는 2025년 3분기에 완료될 예정이며, 회사의 선대 규모를 두 배로 늘릴 것입니다.
이번 인수는 양사 독립 이사들의 승인을 받았으며, 거래 상대인 Toro Corp.는 Robin Energy의 회장 겸 CEO가 통제하는 나스닥 상장사입니다. 회사는 보유 현금으로 이번 구매 자금을 조달할 계획입니다.
거래 완료 후 Robin Energy의 선대는 두 척의 선박으로 구성될 예정이며, 새로 인수한 LPG 운반선과 기존의 핸디사이즈 탱커선 모두 전 세계 석유화학 가스 및 정제 석유 제품 운송에 전념할 것입니다.
Robin Energy Ltd. (NASDAQ : RBNE) a annoncé l'acquisition d'un navire transporteur de GPL de 5 000 m³ construit en 2015 auprès de Toro Corp. pour 18 millions de dollars. La transaction, qui devrait se finaliser au troisième trimestre 2025, doublera la taille de la flotte de la société.
L'acquisition a été approuvée par les membres indépendants des conseils d'administration des deux sociétés, la transaction impliquant Toro Corp., une entité cotée au Nasdaq contrôlée par le président-directeur général de Robin Energy. La société prévoit de financer cet achat avec les liquidités disponibles.
Une fois l'opération achevée, la flotte de Robin Energy comprendra deux navires : le transporteur de GPL nouvellement acquis et un pétrolier Handysize existant, tous deux dédiés au transport mondial de gaz pétrochimiques et de produits pétroliers raffinés.
Robin Energy Ltd. (NASDAQ: RBNE) hat die Übernahme eines 2015 gebauten LPG-Transporters mit 5.000 cbm von Toro Corp. für 18 Millionen US-Dollar bekannt gegeben. Die Transaktion, die im dritten Quartal 2025 abgeschlossen werden soll, wird die Flottengröße des Unternehmens verdoppeln.
Die Übernahme wurde von unabhängigen Vorstandsmitgliedern beider Unternehmen genehmigt. Toro Corp., eine an der Nasdaq gelistete Gesellschaft, wird von Robin Energys Vorstandsvorsitzendem und CEO kontrolliert. Das Unternehmen plant, den Kauf mit verfügbaren liquiden Mitteln zu finanzieren.
Nach Abschluss wird die Flotte von Robin Energy aus zwei Schiffen bestehen: dem neu erworbenen LPG-Carrier und einem bestehenden Handysize-Tanker, die beide weltweit petrochemische Gase und raffinierte Erdölprodukte transportieren.
- Fleet size doubles from 1 to 2 vessels, expanding operational capacity
- Acquisition expected to be immediately accretive to cash generation
- Purchase to be funded with existing cash, indicating strong liquidity position
- Relatively new vessel (2015-built) added to the fleet
- Related party transaction with CEO-controlled entity raises potential conflict of interest concerns
- Small fleet size of only 2 vessels indicates limited operational scale
- Significant cash expenditure of $18 million may impact available working capital
Insights
Robin Energy doubles fleet with $18M vessel acquisition from CEO-linked company, potentially boosting cash flow while raising governance questions.
Robin Energy's acquisition of a second vessel represents a significant expansion of its operational capacity, effectively doubling its fleet size from one to two vessels. The
The transaction structure warrants scrutiny from a governance perspective. The vessel is being acquired from Toro Corp., a Nasdaq-listed entity controlled by Robin Energy's own Chairman and CEO, Petros Panagiotidis. While the press release notes that independent board members approved the transaction following special committee recommendations, this related-party transaction creates an inherent conflict of interest. The purchase price of
For a small shipping company, fleet expansion represents a crucial growth milestone. However, Robin Energy's current diminutive fleet size (moving from one to two vessels) indicates it remains a micro-player in the global energy shipping market where major operators control dozens or hundreds of vessels. The CEO's statement that this acquisition will be "immediately accretive" to cash generation suggests confidence in deploying the vessel profitably, though the current LPG shipping rate environment will ultimately determine the financial impact. The company expects to fund the purchase with existing cash reserves, indicating reasonable financial liquidity for its size.
This transaction raises several governance considerations. The acquisition involves a related-party transaction where Robin Energy is purchasing a vessel from Toro Corp., another public company controlled by the same Chairman/CEO. Such transactions inherently create potential conflicts of interest where the same individual has fiduciary duties to both the buying and selling entities.
The press release attempts to address these concerns by highlighting that independent and disinterested board members from both companies approved the transaction after reviews by special committees. This follows standard governance protocols for managing conflicts. However, investors should question whether truly arms-length negotiations occurred and if the
The very small fleet size (moving from one vessel to two) suggests this is essentially a microcap shipping operation where the CEO wields significant influence. The dual role of Panagiotidis across multiple public companies creates a complex governance structure where shareholders must rely heavily on independent directors to safeguard their interests. While the transaction disclosure follows proper protocols, the fundamental question remains whether this structure optimally serves Robin Energy's shareholders versus alternative growth strategies that don't involve related-party transactions. The press release lacks specific details on how the special committees determined the fairness of the transaction price or what independent valuations might have supported their decision.
LIMASSOL, Cyprus, July 10, 2025 (GLOBE NEWSWIRE) -- Robin Energy Ltd. (NASDAQ: RBNE) ("Robin Energy" or the "Company"), an international ship-owning company providing energy transportation services globally, announces that it has entered into an agreement, through a wholly owned subsidiary, to acquire a 2015-built 5,000 cbm LPG Carrier vessel from Toro Corp. (“Toro”), a Nasdaq-listed entity controlled by our Chairman and Chief Executive Officer, for a purchase price of
The terms of the transaction were approved by the independent and disinterested members of the Boards of Robin Energy and Toro, respectively, following the negotiation and recommendation by special committees of the independent and disinterested directors of the Boards of Robin Energy and Toro.
The acquisition is expected to be concluded by taking delivery of the vessel during the third quarter of 2025 and is subject to the satisfaction of certain customary closing conditions. The Company expects to fund the acquisition with cash on hand.
Petros Panagiotidis, Chairman and Chief Executive Officer of Robin Energy, commented: "We have expanded our operations with a second vessel, which doubles the size of our fleet. We believe that the addition of this vessel to our fleet will be immediately accretive to our cash generating ability and is consistent with our growth-oriented strategy and our goal of increasing shareholder value.”
About Robin Energy Ltd.
Robin Energy is an international ship-owning company providing energy transportation services globally. Upon completion of the above-mentioned transaction, the Company’s fleet will comprise of one LPG Carrier and one Handysize tanker vessel that carry petrochemical gases and refined petroleum products worldwide.
For more information, please visit the Company’s website at www.robinenergy.com. Information on our website does not constitute a part of this press release.
Cautionary Statement Regarding Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts, including those related to the completion, timing and benefits to the Company and shareholders of the vessel acquisition. We are including this cautionary statement in connection with this safe harbor legislation. The words “believe”, “anticipate”, “intend”, “estimate”, “forecast”, “project”, “plan”, “potential”, “will”, “may”, “should”, “expect”, “pending” and similar expressions identify forward-looking statements.
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, uncertainties related to the Company’s and its counterparty’s ability to consummate the transaction discussed herein, as well as those factors discussed under “Risk Factors” in our Annual Report on Form 20-F for the year ended December 31, 2024 and 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:
Investor Relations
Robin Energy Ltd.
Email: ir@robinenergy.com
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