The charter of the 50,000-dwt Eships Taweelah (built 2014) increases from an initial three years to four years with the rate raised from $16,200 to $16,500 a day.
A provision for two optional years remains but the rate for these is also increased from $17,200 and $18,000 a day respectively to $17,350 and $18,100 a day.
TradeWinds reported earlier this month that a “premium rate” was being achieved on three eco-MR tankers that Top Ships was chartering to Stena Weco and put the figure at $16,200 a day.
The Hyundai Vinashin built Eships Taweelah is to be renamed the StenaWeco Energy.
"This is another positive development for the company, as it improves, once again, the visibility of our cash flow and it enhances the attractiveness of our fleet from a bank lending point of view,” said Top Ships chief executive, Evangelos Pistiolis.
Pistiolis said gross contracted revenue, over the firm period of the charters, had increased from $117m to $124m, a 6% rise
With the option periods, gross contracted revenue has increased from $193m to $199m a rise of about 3%.
