Toro is a dedicated LPG carrier and product tanker shipping company that owns and operates a fleet of liquid cargo vessels for charter to major oil companies and commodities traders on both term and spot market contracts. The company generates revenue through time charters with fixed multi-year rates, spot and voyage charters that expose earnings to rate volatility, and participation in shipping pools where vessel earnings are shared among participants. Toro maintains a fleet of relatively modern vessels—small-scale LPG carriers and medium-range product tankers—that are younger and more fuel-efficient than industry averages, positioning the company to operate at lower costs, meet increasingly stringent environmental standards, and appeal to quality-conscious customers who prioritize vessel compliance, safety records, and operational expertise.