Top Ships agrees to acquire four ice-class MR tanker newbuildings

The charter has a firm seven-year term, and the charterer may opt to extend employment for as many as three additional years.

Top Ships has estimated potential gross revenue from the four charters at about US$316.9 million if all extension options are exercised.

The four acquisition companies are working to complete lease-financing deals set up by the seller with an unnamed Chinese leasing company. The proposed financing would cover about 85 per cent of the shipbuilding instalments, rather than the consideration for the company shares.

Top Ships already has ten 50,000DWT MR newbuildings due to arrive over the period spanning the second quarter of 2028 to the fourth quarter of 2029. Once the latest acquisition closes, its newbuilding MR programme will total 14 vessels.