Toro Sells M/T Wonder Musica Vessel For $28M

Toro Corp. TORO inked a pact with an unaffiliated third party to sell the M/T Wonder Musica for $28 million.

Toro expects a net gain of approximately $17 million, excluding transaction-related costs.

M/T Wonder Musica is an Aframax/LR2 crude oil tanker built in 2004. The vessel will be delivered to its new owner during the third quarter of 2023.

Apart from the current disposal pact, the company expects a net gain of $20.5 million by selling the M/T Wonder Bellatrix and $22.4 million by selling the M/T Wonder Polaris in the second quarter.

Toro also announces that the company completed the previously announced sales of the M/T Wonder Bellatrix, a 2006-built Aframax/LR2 tanker, at a price of $37.0 million, and the M/T Wonder Polaris, a 2005-built Aframax/LR2 tanker, at a price of $34.5 million.

Price Action: TORO shares are trading higher by 2.66% to $3.47 on the last check Tuesday.