Toro Corp. is an independent growth oriented shipping company that acquires owns charters and operates oceangoing LPG carrier vessels and MR tankers to provide worldwide energy seaborne transportation services.
The company generates revenue primarily by chartering its LPG carrier and MR tanker vessels to third party charterers under time charter voyage charter and pooling arrangements earning hire rates and freight fees.
The company operates through the following…
Toro Corp. is an independent growth oriented shipping company that acquires owns charters and operates oceangoing LPG carrier vessels and MR tankers to provide worldwide energy seaborne transportation services.
The company generates revenue primarily by chartering its LPG carrier and MR tanker vessels to third party charterers under time charter voyage charter and pooling arrangements earning hire rates and freight fees.
The company operates through the following segments: Eco tanker segment Non Eco tanker segment and LPG carrier segment.
- Eco tanker segment consists of the M/T Wonder Altair an MR2 class tanker built in 2021 in China employed on time charter contracts to transport refined petroleum products worldwide.
- Non Eco tanker segment consists of the M/T Wonder Maia an MR2 class tanker built in 2014 in South Korea employed on time charter contracts to transport refined petroleum products.
- LPG carrier segment consists of the LPG Dream Arrax and LPG Dream Vermax both LPG carriers built in 2015 in Japan each with a deadweight capacity of approximately five thousand dwt employed on time charter contracts to transport liquefied petroleum gas.
Toro Corp. holds a modest position in the fragmented MR tanker and LPG carrier sectors competing with numerous independent owners and operators its advantages include a younger eco efficient tanker a diversified charter strategy and technical support from its manager Castor Ships.
The company serves international energy traders oil companies refiners and charterers that require seaborne transport of LPG and refined petroleum products.