Two MR acquisitions accompanied by Trafigura charters
Offshore Energy describes the acquisition of Santa Catalina Inc. and Santa Monica Inc., two companies with contracts for scrubber-fitted 50,000-dwt MR product and chemical tankers at Hyundai Mipo. The shares were purchased from an entity affiliated with chief executive Evangelos Pistiolis for $14.35m.
Delivery was scheduled for February 2020, followed by three-year charters with Trafigura Maritime Logistics and two further optional years. TOP Ships was still concluding vessel financing at publication. The source connects the additions with a stated increase of $38.3m in fixed-period gross revenue backlog, providing historical insight into how contracted employment supported the company’s newbuilding investment decisions.
An editorial summary of the linked publication. Figures and plans refer to its publication date.