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TOP Ships Inc. Announces Sale of ECO MR Product Tanker Newbuilding for About $6.25 million

  • TOP Ships Inc. agreed to sell 100% of an SPV to Rubico Inc.
  • The SPV holds a shipbuilding contract for a 47,499 dwt medium-range product/chemical tanker with Guangzhou Shipyard International.
  • The tanker is scheduled for delivery in 2029.
  • The aggregate selling price is approximately $6.25 million, payable in full at closing.
  • The transaction is expected to close by September 30, 2026, subject to customary conditions.
  • The sale was approved by a special committee of independent directors which obtained a fairness opinion from an independent financial advisor.
  • TOP Ships Inc. operates modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products, and bulk liquid chemicals.