Top Ships has freed up cash to reduce debt costs in a series of sale-and-leaseback deals.
The Nasdaq-listed owner said the sale of five tankers to three major Chinese financiers will raise $235m.
It has already completed four of these transactions.
Two 157,700-dwt suezmaxes, the Eco West Coast and Eco Malibu (both built 2021), went for $41m each with leases for 10 years, plus buyback options.
