Top Ships has taken full ownership of a pair of suezmax tanker newbuildings ordered earlier this year by the private interests of its president and chief executive, Evangelos Pistiolis.
The Nasdaq-listed company already spent $22m last month to buy a 50% stake in the two entities that commissioned construction of the ultra-high specification, scrubber-fitted 158,000-dwt suezmax pair at Hyundai Heavy Industries.
