Top Ships Inc. Announces Time Charter Extensions at Very Strong Rates and Revenue of $100 Million

Company Overview - TOP Ships Inc. is an international owner and operator of modern, fuel-efficient "ECO" tanker vessels, focusing on the transportation of crude oil, petroleum products, and bulk liquid chemicals [6]. Charter Agreements - The company announced that its 50% subsidiaries, which own M/T Eco Yosemite Park and M/T Eco Joshua Park, have entered into agreements to extend their time charter employment at higher rates [5]. - Both MRs will commence 7-year time charters on August 1, 2024, at a gross daily hire rate of $19,500, representing a 12% increase from the current daily hire rate [2]. - The expected revenue generated by the two subsidiaries from these charters is approximately $100 million for the firm period [2].