TOP TANKERS

Market Pulse:
Top Tankers gives up carrier purchase,related placement Tuesday May 24, 9:22 am ET By Aude Lagorce

LONDON (MarketWatch) -- Seaborne transportation services provider Top Tankers, Inc. said it won't proceed with the purchase of 15 dry bulk carriers and two handymax tankers and related private placement. The company won't be required to pay any penalties or incur any financial losses as a result of this decision.