v3.25.2
Basis of Presentation and General Information (Tables)
 6 Months Ended
Jun. 30, 2025
Basis of Presentation and General Information [Abstract]  
Assets and Liabilities of Robin

The assets and liabilities of Robin on April 14, 2025, were as follows:

   
April 14, 2025
  
Cash and cash equivalents
  
$
186
  
Accounts receivable trade, net
    
1,073,346
  
Due from related parties, current
    
12,463,643
  
Inventories
    
75,932
  
Prepaid expenses and other assets, current
    
66,305
  
Vessels, net
    
6,713,140
  
Due from related parties, non-current
    
388,542
  
Prepaid expenses and other assets, non-current
    
357,769
  
Deferred charges, net
    
823,411
  
Accounts payable
    
(241,481
)
Accrued liabilities
    
(495,426
)
Net assets of Robin
    
21,225,367
  
Plus Capital contribution as part of Robin Spin-Off
    
10,356,450
  
Less Investment in Preferred Shares of Robin issued as part of Robin Spin-Off (refer Note 4(d))
    
(25,942,180
)
Distribution of net assets of Robin to shareholders
  
$
5,639,637
  
Vessel Owning Subsidiaries
(a)
Consolidated vessel owning subsidiaries:

Company
  
Country of
incorporation
  
Date of
incorporation
  
Vessel Name
  
DWT
Year
Built
  
Delivery date to
Vessel owning company
1
Zatanna Shipping Co. (“Zatanna”)
   Marshall Islands   05/02/2023   LPG Dream Terrax   4,743 2020   May 26, 2023
2
Starfire Shipping Co. (“Starfire”)
   Marshall Islands   05/02/2023   LPG Dream Arrax   4,753 2015   June 14, 2023
3
Cyborg Shipping Co. (“Cyborg”)
   Marshall Islands   05/02/2023   LPG Dream Syrax   5,158 2015   July 18, 2023
4
Nightwing Shipping Co. (“Nightwing”)
   Marshall Islands   05/02/2023   LPG Dream Vermax   5,155 2015   August 4, 2023
5
 Quicksilver Shipping Co. (“Quicksilver”) (1)
   Marshall Islands
  02/10/2022   M/T Wonder Altair   50,303   2021   July 11, 2025
Non-vessel Owning Subsidiaries
(b)
Consolidated non-vessel owning subsidiaries:

1
Toro RBX Corp. (“Toro RBX”) (2)

(c)
Entities comprising the discontinued operations:

1
Elektra Shipping Co. (“Elektra”) (3)
2
Rocket Shipping Co. (“Rocket”) (4)
3
Drax Shipping Co. (“Drax”) (5)
 4
Colossus Shipping Co. (“Colossus”) (6)
 5
Hawkeye Shipping Co. (“Hawkeye”) (7)
 6
Starlord Shipping Co. (“Starlord”) (8)
 7
Gamora Shipping Co. (“Gamora”) (9)
Robin Spin-Off Entities
(d)
Robin Spin-Off Entities:

Company
​
Country of
incorporation
​
Date of
incorporation
​
Vessel Name
​
DWT
​
Year
Built
​
Delivery date to
Vessel owning company
1
Robin Energy Ltd. (“Robin”)  (10)
  
Marshall Islands
  
—
  
—
  
—
  
—
  
—
2
Vision Shipping Co. (“Vision”)
​
Marshall Islands
​
04/27/2021
​
M/T Wonder Mimosa
​
36,718
​
2006
​
May 31, 2021
3
Xavier Shipping Co. (“Xavier”) (11)
​
Marshall Islands
​
04/27/2021
​
—
​
—
​
—
​
—

(1)
On May 30, 2025, the Company through Quicksilver entered into an agreement to purchase a 2021-built MR (MR2 class) tanker vessel from an unaffiliated third party for a purchase price of $36.25 million. The Company paid an amount of $5.4 million, which represents a 15% advance of the purchase price as of June 30, 2025. The vessel M/T Wonder Altair was delivered to the Company on July 11, 2025.
(2)
Incorporated under the laws of the Marshall Islands on October 3, 2022, this entity serves as the cash manager of the Company’s subsidiaries with effect from March 7, 2023.
(3)
Incorporated under the laws of the Marshall Islands on April 27, 2021, no longer owns any vessel following the sale of the M/T Wonder Arcturus on May 9, 2022, for a gross sale price of $13.15 million and delivery of such vessel to an unaffiliated third-party on July 15, 2022.
(4)
Incorporated under the laws of the Marshall Islands on January 13, 2021, no longer owns any vessel following the sale of the M/T Wonder Polaris on May 18, 2023, for a gross sale price of $34.5 million and delivery of such vessel to an unaffiliated third-party on June 26, 2023.
(5)
Incorporated under the laws of the Marshall Islands on November 22, 2021, no longer owns any vessel following the sale of the M/T Wonder Bellatrix on May 12, 2023, for a gross sale price of $37.0 million and delivery of such vessel to an unaffiliated third-party on June 22, 2023.
(6)
Incorporated under the laws of the Marshall Islands on April 27, 2021, no longer owns any vessel following the sale of the M/T Wonder Musica on June 15, 2023, for a gross sale price of $28.0 million and delivery of such vessel to an unaffiliated third-party on July 6, 2023.
(7)
Incorporated under the laws of the Marshall Islands on April 27, 2021, no longer owns any vessel following the sale of the M/T Wonder Avior on April 28, 2023, for a gross sale price of $30.1 million and delivery of such vessel to an unaffiliated third-party on July 17, 2023.
(8)
Incorporated under the laws of the Marshall Islands on April 15, 2021, no longer owns any vessel following the sale of the M/T Wonder Vega on September 5, 2023, for a gross sale price of $31.5 million and delivery of such vessel to an unaffiliated third-party on December 21, 2023.
(9)
Incorporated under the laws of the Marshall Islands on January 13, 2021, no longer owns any vessel following the sale of the M/T Wonder Sirius on January 8, 2024, for a gross sale price of $33.8 million and delivery of such vessel to an unaffiliated third-party on January 24, 2024.
(10)
Incorporated under the laws of the Marshall Islands on September 24, 2024. At the Robin Distribution Date, Robin served as the holding company to which the equity interests of the Handysize tanker subsidiaries were contributed.
(11)
Xavier no longer owns any vessel following the sale of the M/T Wonder Formosa on September 1, 2023, for a gross sale price of $18.0 million and delivery of such vessel to an unaffiliated third-party on November 16, 2023.