Top Ships Inc. has completed the acquisition of three special-purpose vehicles that hold shipbuilding contracts for three high-specification, ECO, scrubber-fitted MR product tankers. The deal closed under a share purchase agreement dated 28 July 2026. TOP Ships bought the SPVs from a related-party seller.
One SPV holds one shipbuilding contract with an established, world-class shipbuilder. The vessels are scheduled for delivery in 2029.
Designed as fuel-efficient, scrubber-equipped MR tankers, the newbuildings fit TOP Ships' existing ECO fleet strategy, the company said. The SPVs have already secured employment for the vessels through time charters with an oil major.
When each vessel is delivered, the charters start. They run for a firm five-year period, with the charterer holding an option to extend for one further year.
The transaction expands its newbuilding orderbook and locks in medium-term charter revenue before the vessels enter service later in the decade, TOP Ships said.