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Exploring the Future Trends of Top Tankers Inc.

Publication: M2 Presswire
Publication Date: 30-NOV-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
M2 PRESSWIRE-30 November 2006-Oil and Gas News: Exploring the Future Trends of Top Tankers Inc.(C)1994-2006 M2 COMMUNICATIONS LTD

RDATE:30112006

TOP Tankers (NASDAQ:TOPT) is looking to rise through the ranks of the world's shipping companies. Operating a fleet of about 25 double-hull vessels, including both Handymax and Suezmax tankers, TOP Tankers transports refined petroleum products and crude oil on a time charter and spot charter basis for oil companies and oil traders. Its fleet has an overall carrying capacity of some 2.5 million deadweight tons (DWT). Eight Handymax and two Suezmax tankers were purchased with proceeds from the company's 2004 IPO. TOP Tankers' customers include Vitol (29% of revenue) and Glencore International (15%). TOP Tankers was founded in 2000 by CEO Evangelos Pistiolis.

Shares were down 12% since announcing it will restate financial reports of the first two quarters...



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