Benzinga | May 11, 2021 09:17AM EDT

Top Ships Announces Delivery Of Suezmax M/T Eco Malibu

TOP Ships Inc. (the "Company"), an international owner and operator of modern, fuel efficient "ECO" tanker vessels, announced today that it took delivery of the very high specification, scrubber fitted, 157,000 dwt newbuilding Suezmax vessel M/T Eco Malibu constructed at the Hyundai Heavy Industries shipyard in South Korea. The vessel is scheduled to commence by the end of the week 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 $63.3 million. For 2021 alone, this charter is expected to contribute $7.8 million in revenue.