TOP Ships secures financing for Hyundai Mipo tanker

TOP Ships has secured US$10.1 million from a European bank to finance it five remaining pre-delivery instalments for Eco Marina Del Ray, a tanker currently under construction at Hyundai Mipo Shipyard.

On June 28, TOP Ships also entered into a sale and leaseback agreement and a five-year time charter with Cargill International for the newbuild, with gross proceeds amounting to US$32.4 million.

This facility together with the financing transaction with Cargill secured all of the required shipyard instalments for taking delivery of the vessel.

The vessel’s delivery date currently planned for January 2019.

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