TOP Tankers Announces Delivery of the First Drybulk Vessel

TOP Tankers Inc today announced that it has taken delivery of the M/V BERTRAM, a 73,506 DWT Panamax drybulk vessel, built in 1995 in South Korea. The vessel has been financed with secured bank debt.

The M/V BERTRAM is the first of six drybulk vessel deliveries for the fourth quarter 2007 and first quarter 2008. The BERTRAM has entered into a time-charter employment for a period of 24-26 months at a daily net rate of $29,700.