Evangelos Pistiolis’ private company Central Shipping has agreed to charter an MR newbuilding under construction for his US-listed vehicle Top Ships.

The Monaco-based company will take the 50,000-dwt Eco Palm Desert upon its delivery from Hyundai Heavy Industries in the third quarter of 2018.

The initial charter period has a firm duration of three years. Central Shipping has the option to extend the charter by two additional years.