Four newbuildings with employment secured before delivery
Splash247 reports that TOP Ships agreed to acquire four related-party companies holding contracts for 50,000-dwt MR tankers at Guangzhou Shipyard International. The ECO, scrubber-fitted, Ice Class 1A ships were scheduled for delivery between June 2029 and March 2030. The share purchase was valued at about $34.95m, subject to financing and customary closing conditions.
The report connects the acquisition with long-term employment: seven-year charters to an unnamed oil major, plus three optional years. Potential revenue from the quartet was estimated at $316.9m, including options. Chinese leasing was expected to cover roughly 85% of shipbuilding instalments. The transaction would increase the MR newbuilding programme to 14 vessels, illustrating the company’s stated redeployment of capital into tankers.
An editorial summary of the linked publication. Figures and plans refer to its publication date.