Athens-based Top Ships is all but out of bulkers after a loss-making sale on its way to the exit.
In a terse communication today, the Evangelos Pistiolis-led company announced it had booked a $25m loss on the sale of the 76,000-dwt Pepito (built 2001, ex-Epson Trader).
Pepito was reportedly purchased from Nisshin Shipping in August 2007 en bloc as part of a package of three similar panamaxes costing a whopping $222m.
That
