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TOP SHIPS Inc (OQ:TOPS)

Business Focus: Deep Sea Freight

Sector:  Industrials Industry:  Marine Freight & Logistics
 
Company Contact
Address: Alexandrou Str.
1, Vassilissis Sofias Str. & Meg.
ATHINA 00000
Tel: N/A
Website: https://www.topships.org
IR: See website
Key People
Evangelos J. Pistiolis
President, Chief Executive Officer, Director
Alexandros Tsirikos
Chief Financial Officer, Director
Vangelis G. Ikonomou
Chief Operating Officer
Konstantinos Patis
Chief Technical Officer
   
Business Overview
Top Ships Inc is a Greece-based international provider of worldwide oil, petroleum products, and chemicals transportation services. The Company owns and operates eco tanker vessels focusing on the transportation of crude oil, petroleum products (clean and dirty), and bulk liquid chemicals. The Company's fleet consists of 3 product/chemical MR2 tankers of approximately 50,000 deadweight tonnage (dwt) each, namely ECO MARINA DEL REY, ECO YOSEMITE PARK, and ECO JOSHUA PARK; 5 crude oil Suezmax tankers of approximately 157,000 dwt each, namely ECO BEL AIR, ECO BEVERLY HILLS, ECO WEST COAST, ECO MALIBU, and ECO OCEANO CA, as well as 2 crude oil VLCC tankers of approximately 300,000 dwt each, namely JULIUS CAESAR and LEGIO X EQUESTRIS.
Financial Overview
For the six months ended 30 June 2023, TOP SHIPS Inc revenues increased 6% to $41.1M. Net income applicable to common stockholders totaled $2.3M vs. loss of $13.1M. Revenues reflect Time charter revenues from related parti increase of 59% to $4.4M, Time charter revenues increase of 2% to $36.7M. Net Income reflects Other vessel operating expenses decrease of 1% to $9.6M (expense).