Limassol based and NASDAQ listed energy transportation company Toro Corp. announced that on June 15, 2023, the Company entered into an agreement with an unaffiliated third-party for the sale of the M/T
Wonder Musica with delivery to the buyers during Q3 2023.
The tanker Wonder Musica is a 2004-built Aframax/LR2 tanker, which the company now report having sold at a price of $28.0 million which in Q3 2023 gives a net gain on the sale of approximately $17.0 million, excluding any transaction-related costs as the company states.
It is mentioned that the conclusion of the sale agreement is subject to the execution of definitive documentation customary for this type of transaction.
Furthermore Toro Corp. also announced that the Company now completed the previously announced sales of first the M/T Wonder Bellatrix, a 2006-built Aframax/LR2 tanker, at a price of $37.0 million, and secondly the M/T Wonder Polaris, a 2005-built Aframax/LR2 tanker, at a price of $34.5 million on June 22, 2023 and June 26, 2023, respectively, by delivering each vessel to their new owner.
From these two sold and already delivered tankers, the Company expects during Q2 2023 a net gain on the sale of the M/T Wonder Bellatrix of approximately $20.5 million, and a net gain on the sale of the M/T Wonder Polaris of approximately $22.4 million, both excluding any transaction-related costs.