TOP JV with Gunvor

TOP Ships, an international ship-owning company has entered into two joint venture agreements with Gunvor Group for two 50,000 dwt product tankers, M/T Eco Holmby Hills and M/T Eco Palm Springs, currently under construction in Hyundai. The ships have expected deliveries in the first and second quarters of 2018, respectively.

The company had previously announced that it had acquired 49% of each vessel and prior to entering the joint ventures increased its shareholding to 50%.

TOP Ships also announced that upon their delivery from Hyundai, each of the two product tankers will enter into time charter employment with Clearlake Shipping, a subsidiary of Gunvor Group for three years.

Company CEO, Evangelos Pistiolis said: “The joint ventures with Gunvor Group represent a major milestone for Top Ships and we expect that this partnership will create a lot of synergies that will be beneficial for both parties.”

For more information visit www.topships.org

17th July 2017