Top Tankers Inc. sails forward on drybulk vessels acquisitions
Shares of Top Tankers Inc. (Nasdaq: TOPT) jumped this morning after the Greek shipper of crude oil said that it entered into agreements to acquire three drybulk panamax vessels from unrelated third parties for an aggregate price tag of approximately $222 million.
According to the company, the vessels are scheduled to be delivered between September 2007 and March 2008 and will be entered into spot market trading at that time.
Top Tankers said it intends to finance its acquisitions through new loan facilities, working capital, and proceeds from future capital raisings.
Shares of Top Tankers gained $0.94, or 18.8%, to $5.93 Monday morning.
