The shipowner, who owns a single MR tanker, said revenue for the three months ended 30 September 2014 was $1.5m.

For the nine month period net income just $500,000 on total revenue of $2.1m, the Evangelos Pistiolis-led shipowner said.

At the end of the quarter Top Ships had total indebtedness under senior secured credit facilities with its lenders of $19.9m maturing in 2024.

The