Washington, D.C. 20549

                                    FORM 6-K

                     OF THE SECURITIES EXCHANGE ACT OF 1934

                           For the month of June 2006

                             Commission File Number

                                TOP TANKERS INC.
                 (Translation of registrant's name into English)

                            109-111 Messogion Avenue
                                 Politia Centre
                                Athens 115 26 GR

                     (Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.

Form 20-F [X]     Form 40-F [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): ___

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)7: ___

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]

If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): ________.


Included in this report on Form 6-K as Exhibit 1 is the press release  issued by
TOP Tankers Inc. (the "Company") on June 27, 2006.

This Report on Form 6-K is hereby  incorporated  by reference into the Company's
Registration  Statement  on Form F-3,  filed  August 1, 2005  (Registration  No.

                                                                       Exhibit 1


NEWS RELEASE for June 27, 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

                              MARKET" TRANSACTIONS

ATHENS,  GREECE (June 27, 2006) ... TOP Tankers Inc. (Nasdaq NM:TOPT)  announced
today that it has  offered  and sold an  aggregate  of  2,600,000  shares of the
Company's  common  stock,  par value $0.01 per share,  pursuant to the Company's
shelf  registration  statement  on Form F-3  (Registration  No.  333-127086)  in
"at-the-market"  offerings at an average price of approximately $7.50 per share,
under the Controlled  Equity Offering Sales Agreement,  dated April 13, 2006, by
and between the Company and Cantor Fitzgerald & Co. (the "Sales Agreement"). The
Sales  Agreement has been filed as an exhibit to the Company's  annual report on
Form 20-F filed with the Securities and Exchange  Commission (the  "Commission")
on April 13, 2006. The Company has a total of 30,805,640  shares of common stock

In accordance with the terms of the Sales  Agreement,  the Company may offer and
sell up to an  additional  5,000,000  shares of common  stock  from time to time
through  Cantor  Fitzgerald  & Co.  Cantor  Fitzgerald & Co. will be entitled to
compensation  equal  to 2.50% of the  gross  proceeds  of the sale of any of the
5,000,000   shares  of  common  stock   referenced   herein  that  are  sold  in
"at-the-market"  offerings, and 4.0% of the gross proceeds of the sale of any of
those shares in negotiated transactions.

The Company may offer and sell up to an  additional  5,000,000  shares of common
stock under the prospectus and related prospectus supplement. The prospectus and
related prospectus supplement have been filed with the Commission.

The net proceeds of the sales will be used for capital  expenditures,  repayment
of indebtedness,  working capital,  to make vessel  acquisitions and for general
corporate purposes.

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% are sister  ships.  Nineteen of the Company's 27 tankers are
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 Statements

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

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.


     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.

Dated: June 27, 2006                    By     /s/ Stamatis N. Tsantanis
                                             Name: Stamatis N. Tsantanis
                                             Title:   Chief Financial Officer