Greece’s Toro Corp has a huge amount of money on its balance sheet as it weighs its next move.
The Nasdaq-listed owner of four LPG carriers and a product tanker said cash and restricted cash was $192.1m at 30 September.
This is up from $155.6m at the end of 2023, following the sale of an LR2 tanker in January.
Chief executive and controlling shareholder Petros Panagiotidis said markets for LPG carriers remained robust in the period and the company enjoyed positive cash flows.
