The Cyprus-based Toro Corp. took delivery of the 2015 eco design Japanese-built 5,000 cbm LPG carrier Dream Arrax, which as per company announcement at the end of April it had agreed to purchase.

The Nasdaq-listed company states that the acquisition price of $16.95 million was financed in its entirety with cash on hand.

Toro Corp. currently owns a fleet of 10 vessels, with an aggregate capacity of 0.7 million deadweight, consisting of 1 Aframax, 5 Aframax/LR2, 2 Handysize tankers and 2 LPG Carriers of 5,000 cbm.

Furthermore, Toro previously announced that it has agreed to sell three of its Aframax/LR2 tankers and to acquire two additional LPG carriers.