FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of February 2006
TOP TANKERS INC.
(Translation of registrant's name into English)
109-111 Messogion Avenue
Politia Centre
Athens 115 26 GR(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F [_]
Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.
Yes [_] No [X]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Set forth herein as Exhibit 1 is a copy of News Release for
February 3, 2006 - TOP Tankers Reports on M/T Flawless on February 3, 2006.
Exhibit 1
NEWS RELEASE for February 3, 2006
Contact: Michael Mason (investors) Stamatis Tsantanis, CFO
Allen & Caron Inc TOP Tankers Inc
212 691 8087 011 30 210 697 8199
michaelm@allencaron.com snt@toptankers.com
TOP TANKERS REPORTS ON M/T FLAWLESS
ATHENS, GREECE (February 3, 2006) ... TOP Tankers Inc (Nasdaq:TOPT), the
owner of the double hull 154,970 dwt M/T Flawless, today announced that on
January 23, 2006, the vessel reported a minor fuel oil overflow on the vessel's
deck to the Estonian Environmental Inspectorate. The incident occurred when the
vessel was in international waters having departing Tallinn, Estonia, and after
loading a cargo of fuel oil. The overflow occurred when bunker fuel was being
transferred between tanks, and was estimated at between 1.5 and 2.0 cubic
meters. The overflow was contained on deck and the crew immediately began
clean-up procedures.
As the vessel is presently in transit, the Company's superintendents have
not been able to inspect the vessel since the overflow incident. However, the
Company believes that reports received from the vessel to date make it appear
highly unlikely that this minor overflow could have caused any of the pollution
that has been recently found on the Estonian shoreline. The Company has also
received Estonian media reports to the effect that the pollution there appears
to have been caused by oil sludge, which has very different characteristics from
the bunker fuel of the Flawless.
The vessel's technical manager has also advised the Company of a report
that on January 23, an Estonian Coastguard helicopter flying over the area where
the Flawless was steaming did not report any pollution in the water.
TOP Tankers takes all matters concerning pollution extremely seriously and,
together with the vessel's technical manager, Hanseatic Shipping of Cyprus, has
established strong and effective controls as well as procedures designed to
ensure that the Company's vessels operate to the highest standards to avoid
pollution. The Company stated that it will continue to work closely with the
Estonian authorities in this matter and will assist in identifying the cause of
this pollution incident, which the Company firmly believes was not connected
with the Flawless.
About TOP Tankers Inc
---------------------
TOP Tankers Inc is an international provider of worldwide seaborne crude
oil and petroleum products transportation services. The Company operates a fleet
of 27 tankers, consisting of 13 double-hull Suezmax tankers and 14 double-hull
Handymax tankers, with a total carrying capacity of approximately 2.6 million
dwt, of which 88.8 percent are sister ships. Nineteen of the Company's 27
tankers are be on time charter contracts with an average term of over three
years with all but two of the time charters including profit sharing agreements.
Forward Looking Statement
-------------------------
Matters discussed in this release may constitute forward-looking statements.
Forward-looking statements reflect our current views with respect to future
events and financial performance and may include statements concerning plans,
objectives, goals, strategies, future events or performance, and underlying
assumptions and other statements, which are other than statements of historical
facts.
The forward-looking statements in this release are based upon various
assumptions, many of which are based, in turn, upon further assumptions,
including without limitation, management's examination of historical operating
trends, data contained in our records and other data available from third
parties. Although TOP Tankers believes that these assumptions were reasonable
when made, because these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible to predict and
are beyond our control, TOP Tankers cannot assure you that it will achieve or
accomplish these expectations, beliefs or projections.
Important factors that, in our view, could cause actual results to differ
materially from those discussed in the forward-looking statements include the
strength of world economies and currencies, general market conditions, including
changes in charterhire rates and vessel values, failure of a seller to deliver
one or more vessels, failure of a buyer to accept delivery of a vessel,
inability to procure acquisition financing, changes in demand for oil and
petroleum products, the effect of changes in OPEC's petroleum production levels
and worldwide oil consumption and storage, changes in demand that may affect
attitudes of time charterers, scheduled and unscheduled drydocking, changes in
our voyage and operating expenses, including bunker prices, dry-docking and
insurance costs, changes in governmental rules and regulations including
requirements for double-hull tankers or actions taken by regulatory authorities,
potential liability from pending or future litigation, domestic and
international political conditions, potential disruption of shipping routes due
to accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by TOP Tankers
with the US Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
TOP TANKERS INC.
(registrant)
Dated: February 6, 2006
By: /s/ Stamatis N. Tsantanis
--------------------------
Stamatis N. Tsantanis
Chief Financial Officer
SK 23116 0001 641018