TOP Ships agrees to acquire four ice-class MR tanker newbuildings for $34.95 million
Bitget2026/10/07 13:15TOP Ships struck a deal to buy four SPVs holding newbuild contracts for ice class 1A MR product tankers at Guangzhou Shipyard. Deliveries are scheduled from June 2029 through March 2030, expanding its ice class fleet to seven vessels. Purchase price totals USD 34.95 million, payable by Dec. 31, 2026, subject to lease financings covering about 85% of installments. Vessels are fixed on seven-year time charters with an oil major, with up to three years of options worth USD 316.9 million. Total potential gross revenue backlog, including options across the fleet and JV share, is expected to rise to about USD 1.24 billion. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. TOP Ships Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610070915PRIMZONEFULLFEED9841361) on October 07, 2026, and is solely responsible for the information contained therein.
- TOP Ships struck a deal to buy four SPVs holding newbuild contracts for ice class 1A MR product tankers at Guangzhou Shipyard.
- Deliveries are scheduled from June 2029 through March 2030, expanding its ice class fleet to seven vessels.
- Purchase price totals USD 34.95 million, payable by Dec. 31, 2026, subject to lease financings covering about 85% of installments.
- Vessels are fixed on seven-year time charters with an oil major, with up to three years of options worth USD 316.9 million.
- Total potential gross revenue backlog, including options across the fleet and JV share, is expected to rise to about USD 1.24 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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