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 March 2009
Commission
File Number
TOP
SHIPS INC.
(Translation
of registrant’s name into English)
1 VAS.
SOFIAS & MEG.
ALEXANDROU
STREET
151 24,
MAROUSSI
ATHENS,
GREECE
(Address
of principal executive offices)
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form 20-F
[ X ] Form 40-F
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ___
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)7: ___
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 ]
If “Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): ________.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached to this report on Form 6-K
as Exhibit 1 is the press release issued by Top Ships Inc. (the “Company”) on
March 26, 2009, announcing that it has taken delivery of its
third and fourth newbuilding product/chemical tankers. This report on
Form 6-K is hereby incorporated by reference into the Company’s Registration
Statement on Form F-3 filed July 3, 2008 (Registration No.
333-152150).
EXHIBIT
1
NEWS RELEASE for March 26,
2009
|
Contact:
|
Michael
Mason (investors)
Allen
& Caron Inc
212
691 8087
michaelm@allencaron.com
|
TOP SHIPS
ANNOUNCES DELIVERY OF ITS
THIRD AND
FOURTH NEWBUILDING VESSELS
ATHENS,
GREECE (March 26, 2009) … TOP Ships Inc. (NasdaqGS:TOPS) announced today that it
has taken delivery of the M/Ts “IONIAN WAVE” and “TYRRHENIAN WAVE” from SPP
Plant & Shipbuilding Co., Ltd of the Republic of Korea.
The
“IONIAN WAVE” and the “TYRRHENIAN WAVE” are the third and fourth of six 50,000
dwt product / chemical tankers to be delivered within the first and second
quarter of 2009. The “IONIAN WAVE” and the “TYRRHENIAN WAVE” have entered into
respective bareboat time-charter employments for a minimum period of seven years
at a daily rate of $14,300, with three successive one-year options at a higher
daily rate.
About TOP Ships
Inc.
TOP Ships
Inc., formerly known as TOP Tankers Inc., is an international provider of
worldwide seaborne crude oil and petroleum products and drybulk transportation
services. The Company operates a combined tanker and drybulk fleet as
follows:
|
|
·
|
A
fleet of eleven double-hull handymax tankers, with a total carrying
capacity of approximately 0.5 million dwt, of which 74% are sister ships.
Seven of the Company's handymaxes are on time charter contracts
with an average term of one year with all of the time charters including
profit sharing agreements above their base rates. Four of the Company’s
handymax tankers are fixed on a bareboat charter basis with an average
term of eight and a half years.
|
|
|
·
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Two
newbuilding product tankers, which are expected to be delivered in the
first half of 2009. All the expected newbuildings have fixed rate bareboat
employment agreements for a period of ten
years.
|
|
|
·
|
A
fleet of five drybulk vessels with a total carrying capacity of
approximately 0.3 million dwt, of which 47% are sister ships. All of the
Company's drybulk vessels have fixed rate employment contracts for an
average period of 24 months.
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Forward Looking
Statement
Certain
statements and information included in this release constitute “forward-looking
statements” within the meaning of the Federal Private Securities Litigation
Reform Act of 1995. The Private Securities Litigation Reform Act of
1995 provides safe harbor protections for forward-looking statements in order to
encourage companies to provide prospective information about their
business. 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 Company desires to take advantage
of the safe harbor provisions of the Private Securities Litigation Reform Act of
1995 and is including this cautionary statement in connection with this safe
harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,”
“forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,”
“pending” and similar expressions identify forward-looking
statements.
Important factors that, in our view,
could affect the matters discussed in these forward-looking statements include
general market conditions, including fluctuations in charter rates and vessel
values, changes in the demand for our vessels, offers that may be received from
third parties, potential liability from pending or future litigation, general
domestic and international political conditions, and other factors. Please see
our filings with the Securities and Exchange Commission for a more complete
discussion of these and other risks and uncertainties.
# # #
#
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
SHIPS INC.
(registrant)
|
Date: March 26,
2009
|
By:
|
/s/ Evangelos J. Pistiolis | |
| Evangelos J. Pistiolis | |||
| Chief Executive Officer | |||
SK 23116
0001 981105