TOP Ships Inc. acquires four newbuilding tankers with long-term charter contracts
2 reports, 2 independent
Updated Wed 00:00
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AI-generated briefing. Brind wrote this from the reports listed below and has updated it as the story developed. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
TOP Ships Inc. completed the purchase of shares in four companies that had shipbuilding contracts with Guangzhou Shipyard International Company Limited and China Shipbuilding Trading Co., Ltd. for four new product tankers. These vessels are scheduled for delivery between June 2029 and March 2030. The ships are secured by seven-year time charters, with options for an additional three years each.
Why it matters
The acquisition adds significant potential revenue to TOP Ships Inc.'s backlog, totaling approximately $316.9 million if all charter extension options are exercised. This strengthens the company's announced backlog, which is currently $997 million from fourteen newbuilding MR tankers.
How it developed
Newest first. Tap a step to see who reported it.GSI is building tankers specifically for TOP Ships' acquired vessels.1 source
TOP Ships Inc. completed the acquisition of vessels from Guangzhou Shipyard.1 source