Earnings ·
TOP Ships Inc. reported net income of $6.5 million and diluted earnings per share of $0.61 for the six months ended…
TOPSTop Ships Inc.
TOP Ships Inc. reported net income of $6.5 million and diluted earnings per share of $0.61 for the six months ended June 30, 2026. Revenues were $25.5 million with EBITDA at $17.2 million. The company announced a newbuilding program comprising eight MR product tankers scheduled for delivery between 2028 and 2029, generating $539.8 million in contracted revenue. Additionally, TOP Ships agreed to acquire three scrubber-fitted MR newbuildings with five-year charters to an oil major, adding $140.6 million in contracted revenue. Approximately 85% of construction costs are financed through lease arrangements. The company also redirected $23.5 million from a canceled Dubai real estate acquisition toward the new vessel purchases and continues pursuing the divestiture of its megayacht. TOP Ships Inc. is an international owner and operator of modern, fuel-efficient tanker vessels transporting crude oil, petroleum products, and bulk liquid chemicals.