Robin Energy Ltd.
For the period ended Dec 31, 2024. Filed Apr 15, 2025.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2024 · Filed Apr 15, 2025
Contents
CERTAIN DEFINED TERMS
Unless the context otherwise requires, as used in this annual report: (i) the terms “we”, “us”, “our” or the “Company” include the tanker-owning subsidiary and an additional subsidiary formerly owning the M/T Wonder Formosa and any other subsidiaries of Robin Energy Ltd.; (ii) “Robin” refers only to Robin Energy Ltd. and not to its subsidiaries; and (iii) “Toro” refers to Toro Corp.
As further described under “Explanatory Note” below, (i) “Robin Subsidiaries” refers to the Handysize tanker-owning subsidiary and an additional subsidiary, formerly owning the M/T Wonder Formosa, contributed to Robin prior to the Distribution; (ii) the term “Distribution” refers to the distribution of the common shares of Robin on a pro rata basis to the holders of common stock of Toro and (iii) the term “Spin Off” refers to the separation of the assets, liabilities and obligations of Toro and the Robin Subsidiaries and the contribution of the Robin Subsidiaries to Robin, the issuance of the Series A Preferred Shares to Toro, the issuance of the Series B Preferred Shares of Robin to Pelagos Holdings Corp., (“Pelagos”) pursuant to the terms of the Series B Preferred Shares of Toro and the Distribution, collectively, all of which occurred on April 14, 2025.
We use the term “deadweight ton”, or “dwt”, in describing the size of vessels. Dwt, expressed in metric tons, each of which is equivalent to 1,000 kilograms, refers to the maximum weight of cargo and supplies that a vessel can carry. A “ton mile” is a standardized shipping metric and refers to the volume of cargo being carried (a “ton”) and the distance sailed for the shipment in nautical miles.
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