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Top Ships (TOPS) purchases 50% of two vessel owning companies

  • TOP Ships said that it acquired a 50% interest in two vessel owning companies.
  • These companies own two ultra-high specifications scrubber-fitted 50,000 dwt eco MR product tankers. These tankers are known as M/T Eco Yosemite Park and M/T Eco Joshua Park.
  • The company paid $27 million for 50% interest in the two companies
  • The two new vessels will be delivered in March of 2020 from Hyundai Mipo shipyard in South Korea.
  • Top Ships also released that Seller had already entered into two joint venture agreements for the two vessels.
  • These agreements have an equal ownership interest of 50% with a wholly-owned subsidiary of Gunvor Group. Gunvor Group is one of the world’s largest independent commodities trading houses.

About Top Ships

Top Ships, Inc. is an international owner and operator of tanker vessels. It focuses on the transportation of crude oil, petroleum products and bulk liquid chemicals. The company was founded by Evangelos J. Pistiolis on January 10, 2000 and is headquartered in Maroussi, Greece.

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