TOP Ships’ JV Offloads MR2 Pair

TOP ShipsIllustration. Image Courtesy: Pixabay under CC0 Creative Commons license.

Greek tanker owner and operator TOP Ships said that its 50% subsidiaries which own M/T Holmby Hills and M/T Palm Springs entered into agreements to dispose of both vessels.

Buyers of the two 50,000 dwt MR2 chemical/product tankers have not been disclosed.

As informed, the vessel sales are subject to customary closing conditions and are anticipated to be concluded during March 2020.

Depending on several factors, TOP Ships estimates that it will incur impairment charges ranging from USD 1.5 million to USD 3.5 million due to these sales that will affect the year ended 2019 financial results and also estimates the cash release to the company to range from USD 19 million to USD 21 million.

Built in Vietnam in 2018, Palm Springs and Holmby Hills are owned by a joint venture including TOP Ships and Singapore-based Clearlake, according to data provided by VesselsValue.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020?will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >