Shares in Evangelos Pistiolis-led Top Ships raced in the US today after it locked a pair of suezmax newbuildings into potential five-year charters.

Top Ships was trading up over 60% after announcing a contract potentially worth $96m in revenue.

The scrubber-fitted tankers, which Pistiolis inked at the end of last year, have been taken for a firm period of 36 months, with the options for a further two years.