Toro Corp. is an international shipping company formed to own and operate oceangoing vessels for energy transportation. It was created by Castor Maritime through the separation of Castor’s tanker business, with Toro incorporated in the Marshall Islands in 2022 and renamed from Tankco Shipping Inc. ahead of the distribution of Toro shares to Castor shareholders. The spin-off was structured so Castor investors received Toro common shares, and Castor retained preferred equity in the new entity, establishing Toro as a standalone platform focused on seaborne energy trades.
The company’s core activity is acquiring, owning, chartering, and operating tankers that carry crude oil and refined petroleum products on global routes. Public filings describe a growth-oriented model built around time-charter and spot employment, providing transportation capacity to energy producers, traders, and refiners. Toro positions itself as a specialized carrier for energy logistics, emphasizing worldwide service and commercial flexibility.
Toro’s asset base has included medium-range (MR) product tankers and, at times, liquefied petroleum gas (LPG) carriers, allowing it to participate in both oil products and gas trades. Company materials show a fleet mix that has evolved since the separation, with disclosures noting MR tankers and LPG units and later transactions adjusting that balance as market opportunities shift. This vessel strategy is meant to match cargo types and trade lanes within the broader energy transport ecosystem.
Since its formation, Toro has continued refining its portfolio through acquisitions and divestitures connected to market conditions and related spin-offs, while maintaining its focus on energy transportation services. Industry reports highlight selective MR tanker purchases and steps to streamline exposure to LPG, reflecting ongoing fleet optimization under the Toro banner following its establishment by Castor Maritime.