Top Ships announces sale of five suezmax vessels

Top Ships of Athens, Greece, has entered into an agreement to sell five double-hull Suezmax tankers built between 1992 and 1996 for an aggregate sale price of US$240 million.

The vessels are expected to be delivered to their new owners between June 2008 and August 2008. The company said that the net proceeds of the sales may be applied to acquisitions and general corporate purposes. Top Ships, formerly known as Top Tankers, is an international provider of worldwide seaborne crude oil and petroleum products and of drybulk transportation services.
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