Top Ships Adds Tanker to Fleet

Maritime Activity Reports, Inc.

March 17, 2019

Pic: Top Ships

Pic: Top Ships

Top Ships Inc, which owns and operates tanker vessels worldwide, said that it took delivery of the 50,000 dwt newbuilding product/chemical tanker M/T Eco Marina Del Ray.

According to the international owner and operator of modern, fuel efficient "ECO" tanker vessels currently focusing on the transportation of petroleum products, Eco Marina Del Ray is constructed at the Hyundai Mipo shipyard in South Korea.

The Greece-based company also said that the vessel is scheduled to commence its five-year charter employment with Cargill on March 18, 2019.

The ship-owning company has recently concluded Financing Agreements with a major Chinese leasing company, via sale and leaseback transactions of up to $92.5 million for its Suezmax newbuilding vessels with hull numbers 874 and 875, currently under construction at Hyundai Samho Heavy Industries Co., Ltd. in South Korea.  

Evangelos Pistiolis, the President, Chief Executive Officer and Director of the Company, had said: “We are very pleased to have concluded this financing with a very high quality financier. Our Suezmax vessels, which account for the largest portion of our newbuilding capital expenditure, are now fully funded."

He added: "We are now focused on arranging the finance of our newbuilding vessel that will be delivered in January following the completion of which, the company will have completely covered its capital needs in relation to its current newbuilding program.”

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