Top ships inc. announces delivery of 1st vlcc, sale of 2 product tankers and fully-funded status of current newbuilding program with new sources of capital

Athens, greece, jan. 21, 2022 (globe newswire) -- top ships inc. (the “company”), an international owner and operator of modern, fuel efficient "eco" tanker vessels, announced today the delivery of the very high-specification, scrubber-fitted, 300,000 dwt newbuilding very large crude carrier (vlcc) vessel m/t julius caesar constructed at the hyundai heavy industries shipyard in south korea. the vessel has commenced its previously announced time charter employment with a major oil trader for three years with two yearly extensions at the charterer's option. the revenue backlog expected to be generated by this fixture, assuming all options are exercised, is about $68.8 million. for 2022 alone, this charter is expected to contribute $12.5 million in revenue.
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