EuropeTankers

TOP Ships gets better rate for product tanker

Photo of Sam Chambers Sam ChambersFebruary 14, 2023
795 Less than a minute
Top Ships

NASDAQ-listed TOP Ships has fixed a three-year time charter for its product tanker, Eco Marina Del Rey. The new time charter will commence immediately after the expiry of the present time charter employment contract in the first quarter of 2024.

The revenue backlog expected to be generated by this fixture is about $22.4m for the firm period and about $30.6m if the charterer exercises an option to extend for one additional year.

Evangelos Pistiolis, the president of TOP Ships, said the new daily rate secured is about 36% higher than the current rate.

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Photo of Sam Chambers Sam ChambersFebruary 14, 2023
795 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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