Hot on the heels of a lucrative deal for a veteran tanker Nasdaq-listed tanker and LPG owner Toro has offloaded two more elderly aframax LR2 ships at a profit of nearly $43m.
The spinoff of Cyprus-based Castor Maritime has sold the 2005-built Wonder Polaris for $34.5m and the 2006-built Wonder Bellatrix for $37m to undisclosed third-party buyers.
The Petros Panagiotidis-led company expects to conclude the sale in the second quarter and score a net gain on both ships of approximately $42.9m, excluding any transaction-related costs.
Castor bought the Wonder Polaris formerly known as Dubai Harmony from Dubai Navigation for $13.60m in February 2021 and the Bellatrix ex-Agneta Pallas from Energifonden Sverige for $18.15m in December same year.
On a fully delivered basis, Toro’s owned fleet stands at five tankers as well as four LPG vessels the company purchased in April.
“We believe that this sale, along with the recent announcements of the sale of the M/T Wonder Avior, and the entry into the LPG vessel sector with four modern vessels are important steps in the modernisation and diversification of Toro’s business,” Panagiotidis said, adding that the company plans to “continue looking for further opportunities to renew, grow and diversify its fleet.”
