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.

Top Ships Inc. reported net income of $6.5 million for the six months ended June 30, 2026, a 14% decline from $7.6 million in the prior year period. Revenues fell 42% to $25.5 million due to the August 2025 spin-off of Rubico Inc., which removed two tankers from the fleet, and the expiration of operating leases for M/T Eco Bel Air and M/T Eco Beverly Hills. Interest expenses decreased by 43% to $5.7 million following refinancing under the New Huarong Facility and lower SOFR rates. The company sold its stake in Roman Shark VII Inc. for $6.3 million, consummated on August 14, 2026, and entered into an agreement to sell Roman Shark V Inc. for $6.5 million by September 30, 2026. Additionally, Top Ships agreed to acquire three newbuilding MR tankers from Central Mare Inc. for $30.9 million. The company operates in the international maritime shipping industry, owning and operating eco-friendly tanker vessels for crude oil, petroleum products, and chemicals.

Top Ships Inc. entered into agreements on July 28-29, 2026, to acquire three MR chemical/product oil tankers and sell one related vessel. The acquisition involves purchasing SPVs holding shipbuilding contracts with HD Hyundai-Vietnam for vessels delivering in July, September, and October 2029. The purchase price is approximately $4.7 million, net of a $23.5 million refund from a cancelled Dubai real estate deal and existing installments. These tankers have secured five-year time charters with an oil major, generating about $140.6 million in potential gross revenue backlog. Concurrently, Top Ships sold the Roman Shark V SPV to Rubico Inc. for approximately $6.5 million. The sale includes a leaseback financing arrangement of 85% of pre-delivery installments ($38.4 million) at Term SOFR plus 1.80%, with quarterly payments of $0.5 million over ten years. Top Ships operates in the maritime shipping industry, specifically owning and operating tanker vessels for crude oil, petroleum products, and chemicals.

TOP Ships Inc. announced on July 28, 2026, that it entered into an agreement to sell 100% of the shares of a special purpose vehicle to Rubico Inc., a related party, for approximately $6.5 million. The SPV holds a shipbuilding contract with Guangzhou Shipyard International Company Limited and China Shipbuilding Trading Co., Ltd. for the construction of a 47,499 dwt chemical/product oil carrier scheduled for delivery in the second quarter of 2029. The transaction is expected to close by September 30, 2026, subject to customary closing conditions. The sale was approved by a special committee of independent board members that obtained a fairness opinion from an independent financial advisor. TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels transporting crude oil, petroleum products, and bulk liquid chemicals.

TOP Ships Inc. announced a management estimate of net asset value (NAV) of $359.2 million as of June 30, 2026, representing a 24% increase from the previous report on March 10, 2026. This translates to a NAV of $47.19 per common share or $12.49 per share on a fully diluted basis. The company also plans to exit the megayacht sector by selling the M/Y Para Bellvm to redeploy capital into its core tanker business. TOP Ships Inc. is an international owner and operator of ocean-going vessels focusing on modern, fuel-efficient eco tanker vessels.

TOP Ships Inc. announced on July 22, 2026, its decision to sell the M/Y Para Bellvm and exit the megayacht sector to redeploy capital toward its core tanker business. The company expects the sale proceeds to be a multiple of its current market capitalization. TOP Ships Inc. is an international owner and operator of fuel-efficient tanker vessels transporting crude oil, petroleum products, and bulk liquid chemicals.