Toro Corp. Announces the Completion of the Sale of the LPG Carrier Dream Syrax
Toro Corp. (NASDAQ: TORO), a global energy transportation services provider, has completed the sale of its LPG carrier vessel Dream Syrax on September 3, 2025. The 2015-built vessel, with a capacity of 5,000 cbm, has been successfully delivered to its new owner.
Following this transaction, Toro's fleet now consists of three LPG carrier vessels and one MR tanker vessel that transport petrochemical gases and refined petroleum products worldwide. The company continues to operate as a Marshall Islands-incorporated entity with its shares trading on the Nasdaq Capital Market.
Toro Corp. (NASDAQ: TORO), fornitore globale di servizi di trasporto energetico, ha completato la vendita della sua nave per GPL Dream Syrax il 3 settembre 2025. Il natante costruito nel 2015, con una capacità di 5.000 cbm, è stato consegnato al nuovo proprietario.
A seguito di questa operazione, la flotta di Toro è composta da tre navi per GPL e una nave MR che trasportano gas petrolchimici e prodotti petroliferi raffinati in tutto il mondo. La società continua a essere costituita nelle Isole Marshall e le sue azioni sono quotate sul Nasdaq Capital Market.
Toro Corp. (NASDAQ: TORO), proveedor global de servicios de transporte energético, completó la venta de su buque LPG Dream Syrax el 3 de septiembre de 2025. El buque, construido en 2015 y con una capacidad de 5.000 m3, ha sido entregado a su nuevo propietario.
Tras esta transacción, la flota de Toro está formada por tres buques LPG y un petrolero MR que transportan gases petroquímicos y productos refinados a nivel mundial. La compañía sigue constituida en las Islas Marshall y sus acciones cotizan en el Nasdaq Capital Market.
Toro Corp. (NASDAQ: TORO), 글로벌 에너지 운송 서비스 제공업체인 이 회사는 2025년 9월 3일 액화석유가스(LPG) 운반선 Dream Syrax의 매각을 완료했습니다. 2015년에 건조된 이 선박은 5,000 cbm의 적재량을 보유하며 새 소유자에게 인도되었습니다.
이번 거래로 Toro의 선단은 전 세계적으로 석유화학 가스와 정제 석유제품을 운송하는 세 척의 LPG 운반선과 한 척의 MR 탱커으로 구성됩니다. 회사는 여전히 마샬군도에 법인이 설립되어 있으며 주식은 나스닥 캐피털 마켓에 상장되어 있습니다.
Toro Corp. (NASDAQ: TORO), prestataire mondial de services de transport d'énergie, a finalisé la vente de son navire transporteur de GPL Dream Syrax le 3 septembre 2025. Le navire construit en 2015, d'une capacité de 5 000 m3, a été remis à son nouveau propriétaire.
Suite à cette transaction, la flotte de Toro se compose désormais de trois navires transporteurs de GPL et d'un pétrolier MR transportant des gaz pétrochimiques et des produits pétroliers raffinés à travers le monde. La société demeure constituée aux îles Marshall et ses actions sont cotées sur le Nasdaq Capital Market.
Toro Corp. (NASDAQ: TORO), ein globaler Anbieter von Energietransportdienstleistungen, hat am 3. September 2025 den Verkauf seines LPG-Tankschiffs Dream Syrax abgeschlossen. Das 2015 gebaute Schiff mit einem Fassungsvermögen von 5.000 cbm wurde erfolgreich an den neuen Eigentümer übergeben.
Nach dieser Transaktion umfasst Toros Flotte nun drei LPG-Tankschiffe und ein MR-Tanker, die petrochemische Gase und raffinierte Erdölprodukte weltweit transportieren. Das Unternehmen ist weiterhin auf den Marshallinseln eingetragen und seine Aktien werden am Nasdaq Capital Market gehandelt.
- Fleet optimization through strategic vessel sale
- Maintains diversified fleet with both LPG carriers and MR tankers
- Reduction in total fleet size from 5 to 4 vessels
- Decreased LPG carrier capacity in the fleet
Insights
Toro Corp. completed the sale of one LPG carrier, reducing its fleet to four vessels while potentially strengthening its balance sheet.
Toro Corp. has completed the previously announced sale of the Dream Syrax, a 2015-built 5,000 cubic meter LPG carrier vessel. This transaction reduces the company's fleet from five vessels to four, leaving it with three LPG carriers and one MR tanker in its portfolio.
The sale represents a 20% reduction in Toro's overall fleet capacity, which is significant for a small-cap shipping company. While the financial terms weren't disclosed, vessel sales typically generate immediate cash proceeds that can strengthen the balance sheet, reduce debt, or fund new opportunities.
For context, LPG carriers in the 5,000 cbm range and built in 2015 typically command prices in the mid-to-high single-digit million dollar range in today's market, depending on condition and specifications. The timing of this sale comes amid volatile shipping rates in the LPG sector.
Following this transaction, Toro maintains a relatively young, focused fleet in the petrochemical gas and refined petroleum products transportation segment. This fleet reduction could represent a strategic portfolio optimization or liquidity-generating move, though without stated strategic rationale, it's difficult to fully assess management's longer-term fleet development plans.
LIMASSOL, Cyprus, Sept. 04, 2025 (GLOBE NEWSWIRE) -- Toro Corp. (NASDAQ: TORO) (“Toro”, or the “Company”), a global energy transportation services provider, announces that on September 3, 2025, it completed the previously announced sale of the Dream Syrax a 2015-built 5,000 cbm LPG Carrier vessel by delivering the vessel to its new owner.
About Toro Corp.
Toro Corp. is a global energy transportation services provider, operating a modern fleet of oceangoing vessels. Toro Corp. owns three LPG carrier vessels and one MR tanker vessel that transport petrochemical gases and refined petroleum products worldwide.
Toro is incorporated under the laws of the Republic of the Marshall Islands. The Company's common shares trade on the Nasdaq Capital Market under the symbol “TORO”.
For more information, please visit the Company’s website at www.torocorp.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. 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
Toro Corp.
Email: ir@torocorp.com
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