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We are an international owner of modern, fuel efficient “ECO” tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals. Please see our “Fleet”.
We are incorporated in the Republic of The Marshall Islands and have been trading on NASDAQ since July 2004 under the ticker “TOPS”.
We have established a reputation in the international ocean transport industry for operating and maintaining vessels with high standards of performance, reliability and safety.
Our management team comprises of executives with extensive experience in managing and operating large and diversified fleets of vessels, and with strong ties to a number of national, regional and international oil companies, charterers and traders.
Our strategy is to grow the company’s fleet via acquisitions of newbuilding, resale or secondhand vessels of superior ECO design.
https://www.otcmarkets.com/stock/TOPS/security
https://www.otcmarkets.com/stock/TOPS/financials
TOP Ships Announces a 412% Increase in Net Income for the Six Months Ended June 30
ATHENS, Greece, Sept. 28, 2022 (GLOBE NEWSWIRE) -- TOP Ships Inc. (the “Company”), an international owner and operator of modern, fuel efficient "ECO" tanker vessels, announced today its unaudited financial results for six months ended June 30, 2022.
For the six months ended June 30, 2022, the Company reported:
Total revenues of $38.8 million (53% increase from 1st half 2021)
Net Income of $8.6 million (412% increase from 1st half 2021)
Adjusted EBITDA of $26.9 million* (88% increase from 1st half 2021)
Total Assets of $475.4 million (44% increase from December 31, 2021)
Evangelos Pistiolis, the President, Chief Executive Officer and Director of the Company, said:
“We are very happy to report a dramatic year-on-year increase in net income for the six months ended June 30, 2022, which represents our highest reported net income for a six month period since 2005. Furthermore, as of June 30, 2022, our fixed revenue backlog is about $278.5 million and our charter coverage is as per below table:
| Year | Time Charter Coverage |
| 2022 (remainder) | 100% |
| 2023 | 100% |
| 2024 | 76% |
| 2025 | 17% |
| 2026+ | 10% |
About TOP Ships Inc.
TOP Ships Inc. is an international ship-owning company.
For more information about TOP Ships Inc., visit its website: http://www.topships.org.
Link: https://finance.yahoo.com/news/top-ships-announces-412-increase-125700028.html
