TOP Tankers Takes Third Vessel

Tuesday, August 17, 2004
TOP Tankers Inc., took delivery of M/T Invincible, a 47,084 Dwt, ice-classed, double-hull Handymax tanker, built in 1992 by Halla Engineering & Heavy Industries Limited of the Republic of Korea.

The delivery of the M/T Invincible represents the third of 10 double-hull tankers the company expects to acquire from its current owners from the proceeds of its initial public offering announced on July 23, 2004.

This third delivery increases the size of the fleet to 10 tankers, consisting of 2 Suezmax tankers, 5 Handymax tankers, and 3 Handysize tankers.

TOP Tankers Inc. is an international provider of worldwide seaborne crude oil and petroleum products transportation services. Upon delivery of all 10 vessels, the company will own and operate a fleet of 17 tankers, consisting of 4 Suezmax tankers, 10 ice-classed Handymax tankers and 3 Handysize tankers, with a total carrying capacity of approximately 1.14 million DWT.

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