Toro Corp. announces the sale of the M/T Wonder Avior for $30.1 million

Toro Corp. (“Toro”, or the “Company”), an international energy transportation services company, announces that on April 28, 2023, the Company entered into an agreement with an unaffiliated third-party for the sale of the M/T Wonder Avior, a 2004-built Aframax/LR2 tanker, at a price of $30.1 million. The conclusion of the sale agreement is subject to the execution of definitive documentation customary for this type of transaction. The vessel is expected to be delivered to its new owner during the second quarter of 2023.

The Company expects to record during the second quarter of 2023 a net gain on the sale of the M/T Wonder Avior of approximately $19.6 million, excluding any transaction-related costs.