TOP Ships Announces Sale
Friday, February 22, 2008
TOP Ships announced that it has
entered into an agreement for the sale of M/T Stainless, a 149,599 Dwt, double-hull Suezmax tanker built in 1992. Under the agreement, the purchaser will bareboat charter the M/T Stainless until the vessel’s final delivery, which is expected to take place by the
end of July 31, 2008. The purchaser is paying to the Company a net daily hire of $20,000 beginning January 31, 2008 until final delivery. The total amount of the charter hire received by the Company will be deducted from the sale price.