Shared ownership and five-year charter employment
Splash247 reports TOP Ships’ purchase of a 50% interest in the companies owning Eco Yosemite Park and Eco Joshua Park. The scrubber-fitted 50,000-dwt MR tankers had been delivered by Hyundai Mipo in March 2020. TOP Ships paid $27m to an entity affiliated with chief executive Evangelos Pistiolis, while the other half was sold to a Gunvor subsidiary.
Both vessels were set to work for Gunvor’s Clearlake Shipping for five years, with two further optional years. The article therefore describes a structure combining joint ownership with a chartering relationship. It also notes that the partners had recently confirmed the sale of another jointly owned tanker pair, placing the acquisition within the fleet changes taking place in 2020.
An editorial summary of the linked publication. Figures and plans refer to its publication date.