Top Ships snaps up MR tanker newbuild pair

Top Ships snaps up MR tanker newbuild pair

Greek tanker owner Top Ships has acquired two companies, Santa Catalina Inc. and Santa Monica Inc., that have newbuilding contracts at Hyundai Mipo for two scrubber-fitted 50,000 dwt MR tankers.

The companies, acquired from an entity affiliated with Top Ships CEO Evangelos Pistiolis, were bought for a total of $14.35m.

The pair are scheduled for delivery during February 2020, and will go straight into three-year charters with Trafigura Maritime Logistics. The charters also have a two-year extension option.

Commenting on the deal, Pistiolis said: “The new additions to our fleet are in line with our strategy of always operating latest technology ships and increase our gross revenue backlog for the fixed charter period of our vessels by $38.3 million, which as of June 30, 2019 stood at $165.3 million. Furthermore the quality of the charterer evidences the quality of the acquired vessels.”

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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1 Comment

  1. Avatar
    Vladimir Kivika
    December 20, 2019 at 7:52 pm

    Hey, guys!
    Do you know that scrubber technology is headache for ship staff? And this is actually dead end. Because with use of natural gas as a marine fuel those scrubbers will vanish in a history. Do not do stupid things. By gas from Russia.