Top Ships seals new charter with BP

Top Ships seals new charter with BP

Greek tanker owner Top Ships has agreed a new time charter with BP Shipping for 2016-built product/chemical tanker Eco Revolution.

The new two-year charter will commence in January 2019 immediately on expiry of the present time charter contract with BP. It will generate around $10m revenue, Top Ships said.

Evangelos Pistiolis, president and CEO of Top Ships, commented: “This charter is a vote of confidence in our high quality asset strategy and our high quality vessel management. Following this fixture, total gross revenue backlog for the fixed charter period of operating vessels, from June 30, 2018, stands at about $221 million, increasing to about $235 million when adding the 50% of our joint venture vessels.”

Top Ships did not reveal the fate of another product tanker on charter to BP, the Eco Fleet (pictured), which is also due to expire in January.

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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