Greece’s tanker shipowner Top Ships Inc. has announced the completion of sale
Greece’s tanker shipowner Top Ships Inc. has announced the completion of sale and leaseback financing agreements with a major Chinese financier for the refinancing of four of its vessels, including two very large crude carriers (VLCCs), a suezmax and MR product tanker.
The agreements involve the two 300,000-dwt VLCC tankers, the Julius Caesar and Legio X Equestris, its 157,000-dwt suezmax tanker, the Eco Oceano, and its 50,000-dwt MR product tanker, the Eco Marina Del Ray.
In a securities and exchange commission filing, the New York-listed Top Ships said the gross proceeds before fees and related expenses but after repayment of previous debt amounted to about $27.2m.
Evangelos J. Pistiolis, the president, CEO and director of Top Ships, said: “The amount of cash released from the concluded deals approximates our current market capitalization.
