FORM 6-K SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of July 2005 TOP TANKERS INC. (Translation of registrant's name into English) 109-111 Messogion Avenue Politia Centre Athens 115 26 GR (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F [X] Form 40-F [_] Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes [_] No [X] INFORMATION CONTAINED IN THIS FORM 6-K REPORT Set forth herein as Exhibit 1 is a copy of the press release issued by TOP Tankers Inc. (the "Company") on July 13, 2005. EXHIBIT 1 NEWS RELEASE for July 13, 2005 ------------------------------ Contact: Michael Mason (investors) Stamatis Tsantanis, CFO Allen & Caron Inc. TOP Tankers Inc. 212 691 8087 011 30 210 697 8199 michaelm@allencaron.com snt@toptankers.com TOP TANKERS ANNOUNCES THE SALE OF M/T FEARLESS ATHENS, GREECE (July 13, 2005) ... TOP Tankers Inc (Nasdaq:TOPT), announced today the sale of M/T Fearless, a 44,646 Dwt, double-hull handymax tanker built in 1992. The tanker was acquired in 2003, and was part of the original fleet at the time the Company went public in July 2004. The sale will result in a book profit of approximately $10 million, which will be recognized in the 3rd quarter of 2005. Evangelos J. Pistiolis, President and Chief Executive Officer of TOP Tankers commented: "The sale of the M/T Fearless is part of our overall fleet renewal process, and given the current strong second-hand market, we expect to generate a significant gain for the Company." About TOP Tankers Inc --------------------- TOP Tankers Inc. is an international provider of worldwide seaborne transportation services of bulk commodities. The Company owns and operates a fleet of 22 tankers transporting crude oil and refined petroleum products. The fleet consists of nine double-hull Suezmax tankers and 13 double-hull Handymax tankers, with a total carrying capacity of approximately 2.0 million dwt of which 95.2 percent are sister ships. Eighteen of the Company's 22 tankers are on time charter contracts with an average term of over three years with all but two of the time charters including profit sharing agreements. Forward Looking Statement ------------------------- Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although TOP Tankers believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, TOP Tankers cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charterhire rates and vessel values, failure of a seller to deliver one or more vessels, failure of a buyer to accept delivery of a vessel, inability to procure acquisition financing, changes in demand for oil and petroleum products, the effect of changes in OPEC's petroleum production levels and worldwide oil consumption and storage, changes in demand that may affect attitudes of time charterers, scheduled and unscheduled drydocking, changes in our voyage and operating expenses, including bunker prices, dry-docking and insurance costs, changes in governmental rules and regulations including requirements for double-hull tankers or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, potential disruption of shipping routes due to accidents and political events or acts by terrorists. Risks and uncertainties are further described in reports filed by TOP Tankers with the US Securities and Exchange Commission. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. TOP TANKERS INC. (registrant) Dated: July 13, 2005 By: /s/ Stamatis N. Tsantanis ----------------------------- Stamatis N. Tsantanis Chief Financial Officer 23116.0001 #586277