Top Ships confirms sale of Gunvor joint venture MR tankers

Evangelos Pistiolis-led Top Ships has confirmed the sale of two MR2 tankers owned by the company in a 50-50 joint venture with Gunvor’s Clearlake Shipping.

Confirming a report by Splash earlier this month, Tops Ships says the 49,700 dwt Hyundai Vinashin-built sister ships Eco Holmby Hills and Eco Palm Desert have been sold to unaffiliated third parties. Brokers were reporting the sale to JP Morgan for a price of $35m each.

Top Ships expects the sales to be closed during March, and it expects to incur impairment charges ranging from $1.5m to $3.5m.

Top Ships sold two other MR2 product tankers, Stenaweco Elegance and Eco Palm Desert, earlier this month.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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