Top Ships exits MR1 product tanker segment with double sale

Evangelos Pistiolis led product tanker owner Top Ships has announced the sale of the two MR1 product tankers in its fleet.

The 39,200 dwt Eco Fleet (built 2015) and Eco Revolution (2016) were sold to unaffiliated third parties. Top Ships said that deliveries to the new owners are schedule in January 2020, but did not reveal any further information.

According to VesselsValue, Eco Fleet has a market value of $28.51m and Eco Revolution $26.37m.

The sale will leave Top Ships with a fleet of four vessels, all MR2 product tankers, on the water. The company also has three newbuild MR2s set for imminent delivery from Hyundai Mipo.

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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