TOP Tankers Takes Delivery of M/T Stormless

TOP Tankers Inc. took delivery of M/T Stormless, a 150,038 DWT double-hull Suezmax tanker, built in 1993 by Mitsui Engineering & Shipbuilding Co. Ltd of Japan. The M/T Stormless is the first of four Suezmax deliveries expected in the fourth quarter of 2005 and has been financed with the Company's cash reserves and secured bank credit lines. The vessel will be deployed in the spot market, which currently averages approximately $60,000 per day.