TOP Ships Inc. Announces Time Charters At Very Strong Rates And Revenue Backlog Of $352M, 26% Higher Than Previously Reported
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TOP Ships Inc. (NASDAQ:TOPS) has extended its time charter agreements with Clearlake Shipping Pte Ltd. for its two Suezmax vessels for up to 36 months. The extension will start after the current charters expire in Q1 2024. The gross daily rate for the extended period is $32,850. The extension is expected to generate an additional revenue backlog of about $72 million. The total gross revenue backlog as of December 31, 2022, is now about $352 million, 26% higher than previously reported.
July 20, 2023 | 12:06 pm
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TOP Ships Inc.'s extension of its time charter agreements is expected to generate an additional revenue backlog of about $72 million. This increases the total gross revenue backlog to about $352 million, 26% higher than previously reported.
The extension of the time charter agreements will generate additional revenue for TOP Ships Inc., increasing its total gross revenue backlog. This is likely to have a positive impact on the company's financial performance and, consequently, its stock price.
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