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TOP Tankers in negotiations to snap up 15 Nomikos bulkers.

Europe Intelligence Wire

| March 31, 2005 | COPYRIGHT 2003 Financial Times Ltd. (Hide copyright information)Copyright

(From Lloyds List)

EVANGELOS Pistiolis' Nasdaq-listed TOP Tankers is rumoured to be negotiating a 15-vessel deal, potentially priced at $450m-$460m, with AM Nomikos Transworld Maritime Agencies, writes Rajesh Joshi in New York.

If confirmed, the transaction would add a new facet to TOP Tankers' operations, which currently amount to 23 double-hulled tankers aggregating 2m dwt including pending deliveries.

Market sources familiar with TOP Tankers refused to corroborate broker reports linking the company with Nomikos' bulker fleet. However, Lloyd's List was given to understand that an announcement might be on the cards 'within one or two weeks'. …

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