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Toro Corporation announces the sale of two tankers
Toro Corp. an international energy transportation services company, announces that the Company entered into two separate agreements with two different unaffiliated third-parties for the sale of the (i) M/T Wonder Formosa, a 2006-built Handysize MR tanker, at a price of $18.0 million, and (ii) M/T Wonder Vega, a 2005-built Aframax tanker, at a price of $31.5 million. Both vessels are expected to be delivered to their new owners during the fourth quarter of 2023.
The Company expects to record during the fourth quarter of 2023 (i) a net gain on the sale of the M/T Wonder Formosa of approximately $9.0 million, excluding any transaction-related costs and (ii) a net gain on the sale of the M/T Wonder Vega of approximately $17.7 million, excluding any transaction-related costs.