Buying bulkers, tankers, container ships or gas carriers from private sponsors is nothing unusual for public shipping companies.

Top Ships, however, is set to extend the practice to leisure craft.

The US-listed owner of eight modern crude and product tankers disclosed in its annual report that it is “in advanced discussions to acquire an interest in a company that owns a 47-metre mega-yacht” from an affiliate of its chief executive and controlling shareholder Evangelos Pistiolis.