TOP Ships (TOPS) has amended the time charter agreement for its Suezmax tanker vessel M/T Eco Oceano with Central Tankers Chartering, a company affiliated with the Company’s CEO, Director and major shareholder, Evangelos Pistiolis. The duration of the amended time charter is 5 years starting from January 1, 2026 and the time charter rate has been increased to $30,000 per day. Prior to the amendment, the duration of the time charter was until March 2037 and the time charter rate was $24,500 per day. As part of the amendment the Charterer has a purchase option exercisable only during February 2027 for $70 million.
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