Top Ships Inc. Secures Three-Year Extension for Modern MR Tanker Fleet

gas_fee_therapy · 2025-12-31T09:56:03+00:00

Top Ships Inc. has extended its charter agreement with Weco Tankers A/S for three years, covering the M/T Eco Marina Del Ray at $18,250 per day, generating an estimated $20 million in revenue. This move highlights the company's focus on eco-efficient vessels and strong market demand.

gas_fee_therapy

2025-12-31 09:56:03

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Top Ships Inc. (NYSE:TOPS), a leading operator of fuel-efficient tanker vessels, has reinforced its contract portfolio by extending its time charter agreement with Weco Tankers A/S for an additional three years. The arrangement covers the company’s 50,000 deadweight ton (dwt) MR Product Tanker, M/T Eco Marina Del Ray, at a fixed daily rate of $18,250.

The extended commitment is projected to generate approximately $20.0 million in gross revenue for the Athens-based company over the contract period. This development reflects sustained market demand for modern, environmentally efficient ocean-going vessels utilized in the transportation of crude oil, petroleum products, and bulk liquid chemicals.

As an international maritime operator, Top Ships Inc. has established itself in the tanker sector through its focus on ECO-class vessels designed to optimize fuel efficiency and operational performance. The secured backlog from this extension provides revenue visibility and demonstrates the company’s competitive positioning in the global shipping market.

The agreement underscores the continuing value placed on modern, regulated tanker capacity by major industry participants seeking reliable long-term charter solutions for their commodity transport requirements.

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