TOP Ships Announces 7-Year Charter Extensions For M/T Eco Yosemite Park And M/T Eco Joshua Park At Higher Rates; New Daily Hire Rate Of $19,500 Effective August 1, 2024; Expected Revenue Of $100M For Firm Period
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TOP Ships has announced 7-year charter extensions for its vessels M/T Eco Yosemite Park and M/T Eco Joshua Park at a new daily hire rate of $19,500, effective August 1, 2024. The extensions are expected to generate $100 million in revenue over the firm period.
July 25, 2024 | 1:36 pm
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TOP Ships has secured 7-year charter extensions for its vessels M/T Eco Yosemite Park and M/T Eco Joshua Park at a higher daily hire rate of $19,500, effective August 1, 2024. This move is expected to generate $100 million in revenue over the firm period.
The announcement of higher daily hire rates and significant expected revenue from the charter extensions is likely to positively impact TOP Ships' stock price in the short term. Investors may view this as a sign of strong future cash flows and improved profitability.
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