Robin Energy

What Robin Energy does

Robin Energy Ltd. is a Nasdaq-listed (RBNE) growth-focused shipping company engaged in the acquisition, ownership, chartering, and operation of oceangoing vessels transporting petrochemical gases and refined petroleum products. Formed on April 14, 2025 via distribution of Toro Corp.'s Handysize tanker segment to Toro shareholders, the company is incorporated in the Republic of the Marshall Islands and operates from Limassol, Cyprus. Its fleet consists of two LPG carriers, M/T Dream Terrax and M/T Dream Syrax, with an aggregate cargo capacity of 10,000 cbm, built by first-class shipyards and maintained at the highest standards; a third vessel, the M/T Wonder Mimosa tanker, was sold in April 2026 for $12.8 million.

The company generates revenue primarily through time charter contracts with global energy customers. Both LPG carriers are locked in at premium rates above 10-year historical averages: M/T Dream Terrax at $353,000 per month through January 2027 and M/T Dream Syrax at $360,000 per month through March 2027. FY2025 revenue of $9.9 million represented 45.6% year-over-year growth, with Q4 2025 vessel revenue up 231% YoY. The company has raised approximately $39.1 million in equity through multiple financings since spin-off, deployed for fleet expansion and working capital.

Robin Energy is led by founder Petros Panagiotidis, who also serves as Chairman and CEO of Toro Corp and Castor Maritime. In March 2026 the company announced a planned spin-off of its tanker business into AI OKTO CORP., a separately listed entity positioned as an AI-enabled tanker operation, subject to regulatory approval. The company executed a 1-for-5 reverse stock split in December 2025 and completed an oversubscribed share repurchase tender in April 2026. Vessel management is outsourced to Castor Ships S.A.

Name

Robin Energy

Legal name

Robin Energy Ltd.

Website

https://robinenergy.com

Company type

Public

Founded year

2025

Operating status

Operating

Short description

Robin Energy is a Nasdaq-listed (RBNE) shipping company that owns and operates oceangoing LPG carriers and tanker vessels to transport petrochemical gases and refined petroleum products for global energy companies under multi-period time charter contracts.

Ownership category

akta.pro rank

Product category

Maritime Shipping Services

NAICS

Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing (532411)

SIC

Water Transportation (4400)

akta.pro primary industry

LPG Carrier Operators (TLADABAG)

akta.pro secondary industry

LNG & LPG Marine Shipping (Carriers) (EUALADAF)

Keywords

• LPG carrier shipping
• Tanker vessel chartering
• Energy transportation services
• Maritime shipping services
• Time charter contracts

Headquarters

HQ city

Limassol

HQ country

Cyprus

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Others

Revenue model

1. LPG Carrier Time Charters: The company generates recurring revenue through time charter contracts for its two LPG carriers. Contracts are secured at premium rates exceeding 10-year historical averages, providing strong earnings and operating cash flow visibility. M/T Dream Terrax fixed at $353,000/month through January 2027 and M/T Dream Syrax at $360,000/month through March 2027.
2. Tanker Vessel Transportation: Revenue from tanker vessel operations transporting petrochemical gases and refined petroleum products. The M/T Wonder Mimosa achieved gross daily rate of $30,115 in February 2026, representing a 93% increase over the same period in 2025.
3. Vessel Sales: One-time gains from the sale of vessels. The company sold M/T Wonder Mimosa for $12.8 million in April 2026, realizing a net gain of approximately $6.7 million.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Robin Energy owns and operates a fleet of oceangoing LPG carriers and tanker vessels that transport petrochemical gases and refined petroleum products globally. The company's two LPG carriers (M/T Dream Terrax and M/T Dream Syrax) provide an aggregate cargo carrying capacity of 10,000 cbm, chartered to energy companies under multi-period time charter agreements at premium rates. Revenue is generated primarily through time charter fees for the transportation of LPG and refined petroleum products worldwide.

Product overview

Robin Energy operates as a growth-focused shipping company engaged in the acquisition, ownership, chartering, and operation of oceangoing tanker vessels. The company's core offering consists of its fleet of two LPG carriers (M/T Dream Terrax and M/T Dream Syrax) with an aggregate cargo carrying capacity of 10,000 cbm, providing global energy transportation services for petrochemical gases and refined petroleum products. The vessels operate under multi-period time charter contracts, generating contracted revenue and operating cash flow visibility. The company was formed by Toro Corp. as part of a distribution to shareholders in April 2025 and is listed on NASDAQ under the ticker RBNE.

Differentiator

Problem solved

Functional benefit

Products and services

• LPG Carrier Fleet Two LPG carriers (M/T Dream Terrax and M/T Dream Syrax) with an aggregate cargo carrying capacity of 10,000 cbm, built by first-class shipyards and maintained at the highest standards. These vessels transport petrochemical gases and refined petroleum products worldwide under multi-period time charter contracts for energy companies and the petrochemical industry.
• M/T Dream Terrax Time Charter LPG carrier operating under time charter at $353,000 per month through January 2027, transporting petrochemical gases and refined petroleum products globally for energy companies.
• M/T Dream Syrax Time Charter LPG carrier operating under time charter at $360,000 per month through March 2027, transporting petrochemical gases and refined petroleum products globally for energy companies.
• Global Energy Transportation Services Global energy transportation services via oceangoing vessels, providing shipping services to energy companies worldwide for petrochemical gases and refined petroleum products under time charter arrangements.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core and minor.

• Castor Ships S.A.coreImplementation/ SI/ Consulting PartnerVessel management partner responsible for managing Robin Energy's fleet. Castor Ships S.A. handles day-to-day vessel operations and management, ensuring compliance with maritime standards and operational excellence.
• AI OKTO CORP.minorStrategic or Co-development PartnerProposed spin-off subsidiary containing the tanker business segment, including one tanker vessel and Xavier Shipping Co. subsidiary. Subject to regulatory approval and listing on Nasdaq. Aims to establish AI-enabled tanker operation.

Scale indicators9 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• BW LPG: BW LPG is the world's largest pure-play LPG carrier operator, with a VLGC fleet. Robin Energy's smaller Handysize LPG fleet competes for the same global LPG charter market, making BW LPG the most relevant scale benchmark.
• Dorian LPG: Dorian LPG operates a modern VLGC fleet focused on seaborne LPG transportation. Like Robin Energy, it earns revenue primarily through time charter arrangements with energy majors and trading houses, providing direct read-across on charter rates and margins.
• Navigator Holdings: Navigator Holdings operates a fleet of semi-refrigerated and fully refrigerated LPG/petrochemical gas carriers. Its vessel size class and product focus closely mirror Robin Energy's Handysize LPG operations.
• StealthGas: StealthGas owns a fleet of LPG carriers and product tankers on time charter. Its dual exposure to LPG and refined products matches Robin Energy's product mix and time-charter business model.
• Avance Gas: Avance Gas is an Oslo-listed pure-play VLGC owner focused on LPG transportation. While larger than Robin Energy, it serves the same global LPG charter market and is directly comparable on rate environment dynamics.
• Dynagas LNG Partners: Dynagas LNG Partners owns and operates LNG carriers under multi-year time charters. Its time-charter-driven business model and gas carrier focus make it a relevant peer for assessing LPG charter dynamics.

Broad incumbents

• Castor Maritime: Castor Maritime is a sister company founded by the same CEO (Petros Panagiotidis) and serves as Robin Energy's vessel manager through Castor Ships S.A. It operates a diversified dry-bulk and tanker fleet, providing a benchmark for the management platform's capital allocation.
• Toro Corp. Toro Corp. is the parent that distributed Robin Energy to its shareholders in April 2025. It is also led by Petros Panagiotidis and operates a diversified shipping portfolio, sharing management, board, and operating partners.
• Scorpio Tankers: Scorpio Tankers is a leading product and chemical tanker operator with significant time-charter exposure. Robin Energy's former tanker vessel M/T Wonder Mimosa competed directly in the Handysize product tanker space alongside Scorpio's fleet.
• International Seaways: International Seaways operates a diversified global tanker fleet including crude, product, and LNG carriers. As a large publicly-listed tanker owner with time-charter revenue, it provides a valuation and operational benchmark for small shipping issuers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Robin Energy