The company aims to unlock capital it says could exceed its current market value and redeploy the proceeds into its core eco tanker business, though no sale is assured.
TOP Ships Inc. said it plans to sell the M/Y Para Bellvm, a 47-meter yacht built in 2023 at the Sanlorenzo shipyard, and exit the megayacht sector as it refocuses on its tanker operations. The company said the vessel can accommodate 12 guests and a crew of 10, and that a sale is intended to release significant capital expected to be a multiple of its current market capitalization for redeployment toward its core tanker business. TOP Ships said there is no assurance a transaction will be completed or on its timing, structure, terms, or ultimate proceeds, adding that any deal would require definitive agreements, relevant counterparty and financier consents, and customary conditions.