Washington, D.C. 20549

                                    FORM 6-K

                     OF THE SECURITIES EXCHANGE ACT OF 1934

                         For the month of December 2006

                             Commission File Number: 000-50859

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

                   1, Vassilissis Sofias Meg. Alexandrou Str.
                                 151 24 Maroussi

                     (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 December 5, 2006  announcing  the Company's
newbuilding order, the early re-delivery of three vessels and a new time charter

                                                                       Exhibit 1

NEWS RELEASE for December 5, 2006 at 7:35 am EST

Contact: Michael Mason (investors)          Stamatis Tsantanis, CFO
         Allen & Caron Inc                  TOP Tankers Inc
         212 691 8087                       011 30 210 812 8199
         michaelm@allencaron.com            snt@toptankers.com


ATHENS, GREECE (December 5, 2006) ... TOP Tankers Inc (NasdaqGS:TOPT), announced
today that it has entered into an agreement with SPP Shipbuilding Co, Ltd of the
Republic  of Korea for the  construction  of four  50,000 dwt Product / Chemical
tankers.  The vessels will be delivered  during the first and second quarters of
2009. The Company also has the option to order two  additional  tankers with the
same specifications and delivery period.

The  total   investment   for  the  Company   (excluding  the  option)  will  be
approximately  $191 million,  which will be funded with secured credit lines and
working capital.

Evangelos J. Pistiolis,  President and CEO of TOP Tankers Inc.,  stated:  "It is
our strategy to modernize  and expand our fleet,  so we have recently sold three
Handymaxes, one built in 1998 and two built in 1999. Many people in the industry
consider  the  aggregate  sale price of $128  million  to be one of the  highest
prices ever  achieved for such  vessels.  In  addition,  we have entered into an
agreement to acquire four  newbuildings  for $191 million.  Assuming we exercise
our option to acquire two additional newbuildings,  our current total order will
increase to six vessels,  or $286 million,  all to be delivered during the first
and second quarters of 2009."

Mutual agreement for earlier Glencore redelivery

The Company also  announced  that it has amicably  agreed with  Glencore for the
earlier redelivery of three 154,970 dwt Suezmax tankers,  the M/T Flawless,  the
M/T Timeless and the M/T Stopless, all built in 1991 by Hyundai Heavy Industries
Co of the  Republic of Korea.  These  three  vessels  had been  scheduled  to be
redelivered on or about April 2007. Six of the Company's eleven Handymax tankers
are currently chartered to Glencore under long-term charters with profit-sharing
arrangements.  These time charters will expire between the third quarter of 2009
and the fourth quarter of 2010.

Time charter contract for the M/T Priceless

The Company has entered into a time charter contract for the 154,970 dwt Suezmax
M/T Priceless,  built in 1991 by Hyundai Heavy  Industries Co of the Republic of
Korea, with a major oil trader.  The contract,  which has a base rate of $35,000
and 50% sharing of the profit  generated above the base rate,  expires in August

The M/T Flawless,  the M/T Priceless and the M/T Timeless  completed their third
special  surveys  in June,  August  and  November  2006,  respectively.  The M/T
Stopless will complete its third  special  survey in early January 2007.  All of
these vessels  underwent  extensive works to be upgraded to the highest possible

More information on the upgrading of the TOP Tankers fleet will be posted on the
Company's website.

About TOP Tankers Inc

     TOP Tankers Inc is an  international  provider of worldwide  seaborne crude
oil and petroleum products transportation  services. Upon delivery of the vessel
Topless to its new  owners,  the  Company  will  operate a fleet of 24  tankers,
consisting  of 13  double-hull  Suezmax  tankers  and  11  double-hull  Handymax
tankers,  with a total carrying  capacity of  approximately  2.5 million dwt, of
which 88% are sister ships.  Sixteen of the Company's 24 tankers will 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.


         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: December 7, 2006                        By /s/ Stamatis N. Tsantanis
                                                  Name: Stamatis N. Tsantanis
                                                  Title: Chief Financial Officer

SK 23116 0001 728122