Toro Corp. reports developments for a global energy transportation business that owns, charters and operates oceangoing tankers and LPG carrier vessels. Company updates center on vessel revenues, net income and operating costs, as well as fleet adjustments involving MR tankers, LPG carriers and the completed spin-off of its Handysize tanker segment.
Recurring news also covers capital allocation and financing actions, including special dividends payable in cash or common shares, shareholder election results, revolving credit facilities secured by vessels and transactions involving Castor Maritime securities. These items frame Toro’s public updates around fleet composition, vessel-backed financing, shareholder distributions and related-party governance processes.
Toro Corp. (NASDAQ: TORO), a global energy transportation services provider, has announced the final results of its tender offer that expired on August 7, 2025. The company will purchase 20,344 common shares at $2.75 per share, resulting in an aggregate cost of approximately $55,946.00 excluding fees.
Following a previously announced sale of one LPG carrier, Toro's fleet will consist of three LPG carriers and one MR tanker vessel that transport petrochemical gases and refined petroleum products worldwide.
Toro Corp. (NASDAQ: TORO), a global energy transportation services provider, has announced its 2025 Annual General Meeting of Shareholders scheduled for September 12, 2025 at 5:00 p.m. local time in Limassol, Cyprus. The company has set July 14, 2025 as the record date for determining shareholders eligible to vote.
Toro operates a fleet of oceangoing vessels, which will include three LPG carriers and one MR tanker vessel following the completion of a previously announced sale of one LPG carrier. These vessels transport petrochemical gases and refined petroleum products worldwide.
Toro Corp. (NASDAQ: TORO) reported Q1 2025 financial results with net income of $1.6 million, down 92.8% from $22.1 million in Q1 2024. Total vessel revenues decreased 14.1% to $5.5 million, while EBITDA from continuing operations was $1.0 million.
The company's cash position strengthened to $92.7 million as of March 31, 2025, up from $37.2 million in December 2024. Key developments include the full repayment of a $100 million loan from Castor Maritime, acquisition of a 2021-built MR tanker for $36.25 million, and announcement of a share repurchase tender offer for 4.5 million shares at $2.75 per share.
The company also agreed to sell its LPG Dream Syrax vessel for $18.0 million and completed the spin-off of its Handysize tanker segment to Robin Energy Ltd. The fleet earned an average Daily TCE Rate of $11,480 during Q1 2025, compared to $13,048 in Q1 2024.
Toro Corp. (NASDAQ: TORO), a global energy transportation services provider, has announced a self tender offer to purchase up to 4,500,000 shares at $2.75 per share using available cash and cash equivalents. The tender offer will expire on August 7, 2025, unless extended or withdrawn.
The Company's Board of Directors initiated this share repurchase program based on Toro's current cash position and stock price. The tender offer is not contingent on a minimum number of shares being tendered. Toro has appointed Broadridge Corporate Issuer Solutions LLC as the depositary and Georgeson LLC as the information agent for the tender offer.
Currently, Toro operates a fleet of four LPG carriers (with M/T Dream Syrax scheduled for sale) and has an agreement to acquire one MR tanker.
Toro Corp. (NASDAQ: TORO), a global energy transportation services provider, has announced the sale of its LPG carrier vessel Dream Syrax to a subsidiary of Robin Energy Ltd. for $18 million. The 2015-built 5,000 cbm vessel sale was approved by independent board members, as Robin Energy is controlled by Toro's Chairman and CEO.
Following this transaction, Toro's fleet will consist of three LPG carriers and one MR tanker (pending acquisition announced on June 11, 2025). The vessel delivery is expected during Q3 2025, subject to customary closing conditions.
Toro Corp (NASDAQ: TORO), an international energy transportation services company, has announced the filing of its 2024 Annual Report on Form 20-F with the U.S. Securities and Exchange Commission (SEC). The report, containing audited consolidated financial statements for the fiscal year ended December 31, 2024, is now available on both the SEC website and Toro's corporate website.
The company, which specializes in LPG carrier operations, currently maintains a fleet of four 5,000 cbm LPG carrier vessels that transport petrochemical gases worldwide. Shareholders can request a complimentary hard copy of the Annual Report by contacting the company via email at ir@torocorp.com.
Toro Corp (NASDAQ: TORO) reported financial results for Q4 and full-year 2024, showing mixed performance. Q4 net income declined 96.5% to $1.0 million compared to $28.2 million in Q4 2023, while vessel revenues dropped 28.8% to $5.2 million.
For the full year 2024, the company achieved net income of $25.2 million, down 82.1% from 2023. Total vessel revenues slightly increased by 0.4% to $22.4 million. Key transactions include providing a $100 million senior term loan to Castor Maritime and purchasing 50,000 Castor Series D Preferred Shares for $50 million.
The company completed the spin-off of its Handysize tanker business to Robin Energy on April 14, 2025. As of December 31, 2024, Toro maintained $37.2 million in cash and restricted cash, down from $155.6 million year-over-year. The company's fleet of LPG carriers earned an average Daily TCE Rate of $10,724 in Q4 2024, compared to $13,139 in Q4 2023.
Toro Corp. (NASDAQ: TORO) has announced key dates for the spin-off of its Handysize tanker business through its wholly owned subsidiary, Robin Energy Shareholders will receive one Robin common share for every eight Toro common shares held at the close of business on April 7, 2025 (Record Date), with distribution expected around April 14, 2025.
The spin-off completion is contingent on Robin's registration statement (Form 20-F) being declared effective and approval for listing on the Nasdaq Capital Market. Toro Corp. currently operates a fleet of five vessels with a total capacity of 0.1 million dwt, comprising one Handysize tanker and four 5,000 cbm LPG carriers, providing international energy transportation services.