TOP Ships Fifth Newbuilding Vessel
TOP Ships Inc. (NASDAQ: TOPS) announced that it has taken delivery of the M/T Britto from SPP Plant & Shipbuilding Co., Ltd of the Republic of Korea.The Britto is the fifth of six 50,000 dwt product / chemical tankers to be delivered within 2009. The Britto has entered into a bareboat time-charter employment for a period of 10 years at a daily rate of $14,550. (www.topships.org)
TOP Ships Takes Delivery of 3rd & 4th Newbuilds
TOP Ships Inc. (NASDAQ: TOPS) announced that it has taken delivery of the M/Ts Ionian Wave and Tyrrhenian Wave from SPP Plant & Shipbuilding Co., Ltd of the Republic of Korea. The Tyrrhenian Wave and the Tyrrhenian Wave are the third and fourth of six 50,000 dwt product / chemical tankers to be delivered within the first and second quarter of 2009. The Tyrrhenian Wave and the Tyrrhenian Wave have entered into respective bareboat time-charter employments for a minimum period of seven years at a daily rate of $14,300, with three successive one-year options at a higher daily rate. (www.topships.org)
TOP Ships Takes Delivery of 2nd Newbuild
TOP Ships Inc. (NASDAQ: TOPS) announced on Feb. 23 that it has taken delivery of the M/T Lichtenstein from SPP Plant & Shipbuilding Co., Ltd of the Republic of Korea. The Lichtenstein is the second of six 50,000 dwt product / chemical tankers to be delivered within the first and second quarter of 2009. The Lichtenstein has entered into a bareboat time-charter employment for a period of 10 years at a daily rate of $14,550.
TOP Ships Delivers Its First Newbuild
TOP Ships Inc. (NASDAQ: TOPS) announced on Feb. 18 that it has taken delivery of the M/T Miss Marilena from SPP Plant & Shipbuilding Co., Ltd of the Republic of Korea. The Miss Marilena is the first of six 50,000 dwt product/chemical tankers to be delivered within the first and second quarter of 2009. The Miss Marilena has entered into a bareboat time-charter employment for a period of 10 years at a daily rate of $14,400. TOP Ships Inc., formerly known as TOP Tankers Inc., is an international provider of worldwide seaborne crude oil and petroleum products and drybulk transportation services.
OSG Orders Four Product Carriers
Overseas Shipholding Group, Inc. will build four 73,500 dwt coated Panamax product carriers, or LR1 tankers, at the SPP Plant and Shipbuilding Co. Ltd. based in Tong Yang, South Korea. The vessels are scheduled for delivery in 2010 and 2011. As product trades continue to shift and globalize, OSG is enhancing its fleet of larger size product carriers in order to better service its customer base. Larger size product carriers are more economical for customers, are a more flexible vessel and augment the Company's diverse fleet of crude oil tankers, medium- and long-range product carriers and liquefied natural gas (LNG) vessels. The new vessels bring OSG's total fleet to 147 vessels, of which 107 are operating and an additional 40 vessels are slated for delivery between 2007 and 2011.
