Top Ships fixes MR1 tanker to Clearlake

Greek tanker owner Top Ships has entered into a time charter contract with Clearlake Shipping 2015-built MR1 product/chemical tanker Ecofleet.

The vessel comes off charter to BP in January 2019 and the new fixture with Clearlake is for a period of 36 months, and includes two additional 12-month options. Should the options both be exercised, the value of the contract would reach around $25m.

Evangelos Pistiolis, president and CEO of Top Ships, commented: “We are happy to have concluded a new fixture with a high quality charterer which, in line with our strategy, further extends our charter coverage. Following this fixture, total gross revenue backlog for the fixed charter period of operating vessels, from June 30, 2018, stands at about $211 million, increasing to about $225 million when adding the 50% of our joint venture vessels.”

Including vessels under construction, Top Ships has a fleet of 14 vessels made up of two MR1s, ten MR2s and two suezmaxes.

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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