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Top Ships secures financing for newbuilding pair

Greek tanker owner Top Ships has entered into an agreement with a major Chinese financier to secure up to $60.2m financing for two newbuilding MR tankers.

Top Ships had earlier this month acquired two companies, Santa Catalina and Santa Monica, that have newbuildings contracts for two scrubber-fitted 50,000 dwt product tankers from an entity affiliated with the company’s CEO Evangelos Pistiolis for a total of $14.35m.

The vessels, which are currently under construction at Hyundai Mipo in South Korea, are due for delivery in February 2020 and will go straight into three-year charters with Trafigura Maritime Logistics. The charters also have a two-year extension option.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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