Greece: TOP Ships Sells Drybulk Vessel MV CYCLADES

TOP Ships Inc., an international maritime shipping company that provides transportation services for crude oil, petroleum products, and dry bulk commodities, announces that it has entered into an agreement to sell the M/V CYCLADES, a 75,681 dwt drybulk vessel built in 2000.

The vessel is expected to be delivered to its new owners by early November 2011. The sale of the M/V CYCLADES will result in a book loss of approximately $40 million.

About TOP Ships Inc.

TOP Ships Inc. is an international maritime shipping company that provides transportation services for crude oil, petroleum products, and dry bulk commodities.

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Source: TOP Ships, October 3, 2011.