Top Ships Inc. Announces Acquisition of three High Specification Newbuilding MR Tankers and Potential Gross Revenue Backlog of about $0.93 Billion
Top Ships Inc. entered into a share purchase agreement to acquire three high-specification, ECO, scrubber-fitted MR Product Tankers from a related party, with delivery expected in 2029. The vessels have secured five-year time charter employment with an oil major (plus a one-year extension option), representing a potential gross revenue backlog of approximately $0.93 billion.
Why it matters — TOPS shareholders would view this acquisition as expanding the company's modern, fuel-efficient fleet with long-term, revenue-generating charters from a major oil company.