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.

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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.