The Cyprus-based tanker and LPG shipowner Toro Corp. bags big profit from selling its aframax/LR2 tanker.

The Nasdaq-listed company, led by chief executive Petros Panagiotidis, said it has completed the sale of the 2005-built aframax/LR2 Wonder Sirius to an unaffiliated third party for $33.8m.

The firm expects to record a Q1 2024 net gain of $20.9m from the sale of the vessel, excluding any transaction-related costs.

Toro completed the sale by delivering the vessel to its new owner.

Toro Corp. currently owns a fleet of five vessels with an aggregate capacity of 0.1 million dwt, which consists of one handysize tanker, and four 5,000 cbm LPG carriers.

In September, Toro offloaded two ships for an aggregate price of $49.5m and a net gain of $26.7m.

Petros Panagiotidis signed the deal on September 1 and 5, 2023, for the sale of the vessel Wonder Formosa, a 2006-built handysize MR tanker, at a price of $18.0m, and for the sale of Wonder Vega, a 2005-built aframax tanker, at a price of $31.5m.