Profile: TOP SHIPS Inc (TOPS.OQ)
10 Mar 2014
TOP SHIPS INC., incorporated on January 10, 2000, is a provider of international seaborne transportation services, carrying petroleum products, crude oil for the oil industry and dry bulk commodities for the steel, electric utility, construction and agriculture-food industries. As of December 31, 2012, the Company’s fleet consisted of seven owned vessels including six tankers and one drybulk vessel. The Company’s drybulk vessel is employed on voyage charters and its tankers are employed on bareboat charters. As of December 31, 2012, its fleet consisted of seven owned vessels, including six Handymax tankers and one Supramax drybulk vessel, with total carrying capacity of 0.35 million deadweight tonnage (dwt). It operates in two segments: the tanker segment and the drybulk segment. In October 2013, the Company sold the shipowning subsidiaries, which own the six vessels of the Company's fleet to an affiliate of the AMCI Poseidon Fund LP.
The Company’s vessels are currently employed on bareboat charters. Of the Company’s fleet, 85% by dwt are sister ships. Central Mare Inc. (Central Mare), its wholly owned subsidiary, is responsible for the management of its fleet. Top Tanker Management had been subcontracting the day to day technical management of certain vessels to unaffiliated ship management companies (collectively, the sub-managers). The sub-managers provided day to day operational and technical services to the Company's vessels at a fixed monthly fee per vessel.
TOP SHIPS Inc
1, Vassilissis Sofias Str.
& Meg. Alexandrou Str., Maroussi
ATHINA 151 24