Robin Energy Ltd. Announces Vessel Acquisition, Doubling its Fleet

Core Viewpoint - Robin Energy Ltd. has announced the acquisition of a 2015-built 5,000 cbm LPG Carrier vessel from Toro Corp. for a purchase price of $18 million, which is expected to enhance the company's fleet and cash-generating capabilities [1][4]. Transaction Details - The acquisition agreement was approved by independent and disinterested members of the Boards of both Robin Energy and Toro, following negotiations by special committees [2]. - The transaction is expected to be completed with the delivery of the vessel in the third quarter of 2025, subject to customary closing conditions, and will be funded with cash on hand [3]. Company Growth Strategy - The addition of the new vessel will double the size of Robin Energy's fleet, which will then consist of one LPG Carrier and one Handysize tanker vessel, enhancing its capacity to transport petrochemical gases and refined petroleum products globally [4]. - The company believes that this acquisition aligns with its growth-oriented strategy and aims to increase shareholder value [4].