TOP Ships Signs Share Purchase Agreement For Four Companies That Have Shipbuilding Contracts With Guangzhou Shipyard International For ~$34.95M

TOP Ships Inc. has signed a share purchase agreement to acquire four companies that hold shipbuilding contracts with Guangzhou Shipyard International for approximately $34.95 million. The companies are set to construct four ECO, ice class 1A MR Product Tankers, scheduled for delivery between June 2029 and March 2030. These vessels have secured time charter employment with an Oil Major for seven years, potentially generating a gross revenue backlog of about $316.9 million, contingent on charter extension options. The transaction is expected to close by December 31, 2026, subject to customary conditions and financing arrangements.