Magellano Marine, a company associated with Antonio Zacchello, has been identified by Top Ships as the bareboat charterer that has unilaterally cut the hire of two vessels by 30%.
Top Ships initially denied that the charterer of the products carriers was Seaarland Shipping but this morning confirmed it was Magellano, a company it described as part of the Zacchello group.
Nasdaq listed Top Ships is consulting its legal advisors about initiating arbitration proceedings against Magellano for cutting the hire of the 50,000-dwt Ionian
