TOP Ships Announces Extension Of Time Charter Employment For Two VLCC Tankers; Extended ~3 Years At Daily Rate Of $41,500 Per Vessel With Two Additional Years At Charter's Option
Portfolio Pulse from Benzinga Newsdesk
TOP Ships Inc. has successfully extended the time charter employment for two of its Very Large Crude Carriers (VLCC) for approximately three years. The daily rate for each vessel is set at $41,500, with an option for the charter to extend for an additional two years.
November 22, 2023 | 2:19 pm
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TOP Ships Inc. has extended charters for two VLCC tankers, locking in a steady revenue stream for the next three years at a daily rate of $41,500 per vessel, with potential for a further two-year extension.
The extension of the time charter employment for TOP Ships' VLCC tankers is a positive development, as it provides a predictable and stable revenue source for the next three years. The daily rate of $41,500 per vessel is a significant figure that will contribute to the company's financial stability and potentially improve its stock price in the short term. The option for an additional two-year extension adds further potential for sustained income. Investors are likely to view this news positively, given the secured revenue and the favorable terms of the charter.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100