Jan. 8 at 6:49 PM
Top Ships Inc. (NYSE American:
$TOPS ) announced an amendment to the time charter for its Suezmax tanker, M/T Eco Oceano.
TOP Ships is a B2i Digital Featured Company. View its complete profile at https://b2idigital.com/top-ships.
Under the amended agreement with Central Tankers Chartering Inc., the daily charter rate increases to
$30,000 from
$24,500, representing an increase of approximately 22%. The amended charter term is five years beginning January 1, 2026. As part of the amendment, the charterer holds a purchase option exercisable only during February 2027 at a price of
$70 million.
Central Tankers Chartering Inc. is affiliated with TOP Ships’ CEO, Director, and major shareholder, Evangelos J. Pistiolis. The amendment was approved by an independent committee of the board of directors, which obtained a fairness opinion from an independent financial advisor.
Read the full press release here: https://www.globenewswire.com/news-release/2026/01/06/3213751/14465/en/TOP-Ships-Announces-Amendment-of-Time-Charter-at-a-Higher-Daily-Rate.html
TOP Ships operates a fleet of technologically advanced, eco-efficient tanker vessels. With a young fleet, the company ensures operational efficiency and compliance with evolving regulatory standards. Its vessels are employed on time charters with high-quality counterparties, providing contracted revenue visibility and operational stability.
The experienced TOP Ships management team, led by CEO Evangelos Pistiolis and CFO Alexandros Tsirikos, ACA, boasts decades of experience in all aspects of shipping and tanker operations.
To learn more about TOP Ships Inc. and stay current with their latest developments, please visit their website at www.topships.org. For questions and to get the latest news, please visit TOP Ships’ investor relations page: https://www.topships.org/investors-relations.
Disclosure: David Shapiro, CEO of B2i Digital, personally purchased in the open market and currently owns shares of unrestricted TOPS stock, in line with B2i Digital’s practice of investing alongside its Featured Companies. This post is not intended to solicit the sale of TOPS or any security, and it is not intended to offer any opinion on TOPS as an investment. Conduct your own research and consult with your own professional advisors prior to making any investment decisions. See the complete Disclosure in the Risks and Disclosures section of https://b2idigital.com/disclaimer.
