TOP Ships Inc., an international owner and operator of modern, fuel efficient "ECO" tanker vessels focusing on the transportation of petroleum products, announced yesterday that it has extended the firm period of the time charter of M/T Eco Fleet with BP Shipping Limited for six months.

TOP Ships Inc. Announces Extension of Time Charter of M/T Eco Fleet

Following the signing of the above mentioned time charter party extension, the Company’s charter coverage is as follows:

 Year  Operating fleet  Operating fleet including vessels partly owned 
through joint ventures
 2018  100%  100%
 2019  83%  86%
 2020  65%  70%
 2021  20%  22%

The above charter coverage percentages are calculated as the ratio of number of days vessels are expected to be hired pursuant to the fixed period of existing time charters divided by number of days vessels are available for chartering during the respective calendar years assuming no off-hire days.

Source: TOP Ships