Top Ships Secures Funds for Sixth MR Tanker

Greece-based tanker owner and operator Top Ships has secured financing for the company’s sixth and final newbuilding vessel, the 50,000 dwt fuel efficient “ECO” MR product tanker, M/T Nord Valiant.

Namely, the company said that it entered into a senior secured facility with an undisclosed northern European bank, however, no further details on the deal were revealed.

Nord Valiant, currently under construction at Vietnam’s Hyundai Vinashin yard, is scheduled for delivery in mid-August 2016.

According to VesselsValue, the tanker’s market value stands at USD 30.8 million.

“The six vessel newbuilding program that started in 2014 is now fully funded and nearing its completion. Our business strategy continues to be focused on further expanding our fleet, with solid ships and solid counterparties,” Evangelos Pistiolis, President and CEO, said.

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