Toro Sells Tanker Duo for $49.5M

Credits: Natalya-letunova-unsplash

Toro has entered into two separate agreements with different unaffiliated third parties to sell two vessels for $49.5 million, the company said Wednesday.

The company sold M/T Wonder Formosa, a 2006-built Handysize MR tanker, for $18 million, and M/T Wonder Vega, a 2005-built Aframax tanker, for $31.5 million. Both vessels are expected to be delivered to the new owners during the fourth quarter of 2023.

The company expects to record a net gain of $26.7 million from the sale of the vessels.

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Source: Toro