Castor Maritime completed the spin-off of Toro.

Castor Maritime, a diversified global shipping company, completed the spin-off of Toro, a company comprised of its tanker fleet comprising one Aframax, five Aframax/LR2 and two Handysize tankers. The Board of Castor believes that the creation of a business in a distinct sector of the shipping industry – tankers – will provide significant benefits to both companies and their shareholders.