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<SEC-DOCUMENT>0001047469-04-033219.txt : 20041105
<SEC-HEADER>0001047469-04-033219.hdr.sgml : 20041105
<ACCEPTANCE-DATETIME>20041105143046
ACCESSION NUMBER:		0001047469-04-033219
CONFORMED SUBMISSION TYPE:	F-1MEF
PUBLIC DOCUMENT COUNT:		3
<REFERENCE-462B>333-119806
FILED AS OF DATE:		20041105
DATE AS OF CHANGE:		20041105
EFFECTIVENESS DATE:		20041105

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TOP TANKERS INC.
		CENTRAL INDEX KEY:			0001296484
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		F-1MEF
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-120243
		FILM NUMBER:		041122316

	BUSINESS ADDRESS:	
		STREET 1:		109-111 MESSOGIAN AVENUE
		STREET 2:		POLITIA CENTRE,
		CITY:			ATHENS
		STATE:			J3
		ZIP:			11526 GR
		BUSINESS PHONE:		011-30-210-69-30-288

	MAIL ADDRESS:	
		STREET 1:		109-111 MESSOGIAN AVENUE
		STREET 2:		POLITIA CENTRE,
		CITY:			ATHENS
		STATE:			J3
		ZIP:			11526 GR
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-1MEF
<SEQUENCE>1
<FILENAME>a2146185zf-1mef.htm
<DESCRIPTION>F-1MEF
<TEXT>
<HTML>
<HEAD>
</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#04NYC9235_1">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<P ALIGN="RIGHT"><FONT SIZE=2>Registration Statement No.&nbsp;333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P>


<P><FONT SIZE=2><hr
noshade width=100% align=left size=4>
<hr noshade width=100% align=left size=1> </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=4><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, D.C. 20549  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=5><B>FORM F-1<BR>  </B></FONT><FONT SIZE=2><B>REGISTRATION STATEMENT<BR>
UNDER<BR>
THE SECURITIES ACT OF 1933  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=4><B>TOP TANKERS&nbsp;INC.<BR>  </B></FONT><FONT SIZE=2>(Exact name of registrant as specified in its charter) </FONT></P>

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<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=2><B>Republic of the Marshall Islands</B></FONT><FONT SIZE=2><BR>
(State or other jurisdiction of<BR>
incorporation or organization)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=2><B>4412</B></FONT><FONT SIZE=2><BR>
(Primary Standard Industrial<BR>
Classification Code Number)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=2><B>N/A</B></FONT><FONT SIZE=2><BR>
(I.R.S. Employer<BR>
Identification No.)</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%" ALIGN="CENTER"><BR><FONT SIZE=2><B>109-111 Messogion Avenue<BR>
Politia Centre,<BR>
Athens 115 26 GR<BR>
(011) (30) 210 69 78 000<BR> </B></FONT><FONT SIZE=2>(Address and telephone number of<BR>
Registrant's principal executive offices)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><BR><FONT SIZE=2><B>Seward &amp; Kissel LLP<BR>
Attention: Gary J. Wolfe, Esq.<BR>
One Battery Park Plaza<BR>
New York, New York 10004<BR>
(212) 574-1200<BR> </B></FONT><FONT SIZE=2>(Name, address and telephone number of agent for service)</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2><B>Copies to:</B></FONT></P>

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<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=2><B>Gary J. Wolfe, Esq.<BR>
Seward &amp; Kissel LLP<BR>
One Battery Park Plaza<BR>
New York, New York 10004<BR>
(212) 574-1200 </B></FONT><FONT SIZE=2>(telephone number)</FONT><FONT SIZE=2><B><BR>
(212) 480-8421 </B></FONT><FONT SIZE=2>(facsimile number)</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="32%" ALIGN="CENTER"><FONT SIZE=2><B>Stephen P. Farrell, Esq.<BR>
Morgan, Lewis &amp; Bockius LLP<BR>
101 Park Avenue<BR>
New York, New York 10178<BR>
(212) 309-6000 </B></FONT><FONT SIZE=2>(telephone number)</FONT><FONT SIZE=2><B><BR>
(212) 309-6001 </B></FONT><FONT SIZE=2>(facsimile number)</FONT></TD>
</TR>
</TABLE>
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<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=2><B>Approximate date of commencement of proposed sale to the public:<BR>
As soon as practicable after the effective date of this Registration Statement.  </B></FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If any of the securities being registered on this Form are being offered on a delayed or continuous basis pursuant to Rule&nbsp;415 under the Securities Act of
1933, check the following box.&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b) under the Securities Act, please check the following box
and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#253;</FONT> </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">
<P ALIGN="CENTER"><FONT SIZE=2><B>CALCULATION OF REGISTRATION FEE  </B></FONT></P>

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<TR VALIGN="TOP">
<TD COLSPAN=9><HR NOSHADE></TD>
</TR>
<TR VALIGN="BOTTOM">
<TH WIDTH="32%" ALIGN="CENTER"><FONT SIZE=1><B>Title of Each Class of<BR>
Securities to be Registered</B></FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="13%" ALIGN="CENTER"><FONT SIZE=1><B>Amount to<BR>
be Registered</B></FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER"><FONT SIZE=1><B>Proposed Maximum<BR>
Offering Price<BR>
Per Security</B></FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="18%" ALIGN="CENTER"><FONT SIZE=1><B>Proposed Maximum<BR>
Aggregate<BR>
Offering Price</B></FONT><BR></TH>
<TH WIDTH="1%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="15%" ALIGN="CENTER"><FONT SIZE=1><B>Amount of<BR>
Registration Fee</B></FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="32%"><FONT SIZE=2>Common Stock, par value $.01</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="13%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2>909,563</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2>$15.50</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="18%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2>$14,098,226.50</FONT></TD>
<TD WIDTH="1%" VALIGN="BOTTOM"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="15%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2>$1,786.25</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD COLSPAN=9><HR NOSHADE></TD>
</TR>
</TABLE>
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<HR NOSHADE ALIGN="CENTER" WIDTH="120">

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is a post-effective amendment filed pursuant to Rule&nbsp;462(c) under the Securities Act, check the following box and
list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If this Form is a post-effective amendment filed pursuant to Rule&nbsp;462(d) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If delivery of the prospectus is expected to be made pursuant to Rule&nbsp;434, please check the following
box.&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="WINGDINGS">&#111;</FONT> </FONT></P>

<HR NOSHADE ALIGN="CENTER" WIDTH="120">

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registration Statement shall become effective in accordance with Rule&nbsp;462(b) under the Securities Act of 1933. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<hr noshade width=100% align=left size=1>
<hr noshade width=100% align=left size=4> </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=1,EFW="2146185",CP="TOP TANKERS INC.",DN="1",CHK=739271,FOLIO='blank',FILE='DISK014:[04NYC5.04NYC9235]BA9235A.;5',USER='CCASTIL',CD=';5-NOV-2004;12:43' -->
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<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="bb9235_explanatory_note"> </A>
<A NAME="toc_bb9235_1"> </A>
<BR></FONT><FONT SIZE=2><B>EXPLANATORY NOTE    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement is being filed pursuant to Rule&nbsp;462(b) promulgated under the Securities Act of 1933, as amended. The contents of the
Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-119806) filed by TOP Tankers Inc. with the Securities and Exchange Commission, which was declared effective by the Commission on
November&nbsp;4, 2004, are incorporated by reference into, and shall be deemed part of, this registration statement. </FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=2,EFW="2146185",CP="TOP TANKERS INC.",DN="1",CHK=948837,FOLIO='blank',FILE='DISK014:[04NYC5.04NYC9235]BB9235A.;5',USER='CCASTIL',CD=';5-NOV-2004;12:43' -->
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_ja9235_1_1"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ja9235_part_ii"> </A>
<A NAME="toc_ja9235_1"> </A>
<BR></FONT><FONT SIZE=2><B>PART II    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>INFORMATION NOT REQUIRED IN PROSPECTUS  </B></FONT></P>

<P><FONT SIZE=2><A
NAME="ja9235_item_16._exhibits_and_financial_statement_schedules"> </A>
<A NAME="toc_ja9235_2"> </A>
<BR></FONT><FONT SIZE=2><B>ITEM 16.&nbsp;&nbsp;&nbsp;&nbsp;EXHIBITS AND FINANCIAL STATEMENT SCHEDULES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All exhibits filed with or incorporated by reference in Registration Statement No.&nbsp;333-119806 are incorporated by reference into, and shall be deemed to be
a part of, this registration statement, except for the following, which are filed herewith. </FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="CENTER"><FONT SIZE=1><B>Exhibit Number</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="85%" ALIGN="CENTER"><FONT SIZE=1><B>Exhibit Description</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2> 5.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Opinion of Seward&nbsp;&amp; Kissel LLP</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2><BR>
23.1</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2><BR>
Consent of Seward&nbsp;&amp; Kissel LLP (included in Exhibit&nbsp;5.1).</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2><BR>
23.2</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2><BR>
Consent of Ernst&nbsp;&amp; Young (Hellas) Certified Accountants S.A.</FONT></TD>
</TR>
</TABLE></DIV>
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<P ALIGN="CENTER"><FONT SIZE=2>II-1</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=3,EFW="2146185",CP="TOP TANKERS INC.",DN="1",CHK=637297,FOLIO='II-1',FILE='DISK014:[04NYC5.04NYC9235]JA9235A.;5',USER='CCASTIL',CD=';5-NOV-2004;12:43' -->
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_jc9235_1_2"> </A> </FONT></P>

<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jc9235_signatures"> </A>
<A NAME="toc_jc9235_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form&nbsp;F-l and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Athens,
Country of Greece on November&nbsp;5, 2004. </FONT></P>

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<TD WIDTH="39%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>TOP TANKERS INC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="39%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="54%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>THOMAS F. JACKSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Name: Thomas F. Jackson<BR>
Title: Chairman of the Board</FONT></TD>
</TR>
</TABLE>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement has been signed by the following persons on November&nbsp;5, 2004 in the capacities indicated. </FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="47%" ALIGN="CENTER"><FONT SIZE=1><B>Signature</B></FONT><HR NOSHADE></TH>
<TH WIDTH="3%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="50%" ALIGN="CENTER"><FONT SIZE=1><B>Title</B></FONT><HR NOSHADE></TH>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><BR><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2>/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>EVANGELOS J. PISTIOLIS</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Evangelos J. Pistiolis</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2>Director, President and Chief Executive Officer<BR>
(Principal Executive Officer)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>THOMAS F. JACKSON</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Thomas F. Jackson</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director and Chairman of the Board</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>STAMATIOS N. TSANTANIS</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Stamatios N. Tsantanis</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director and Chief Financial Officer<BR>
(Principal Financial Officer and Principal Accounting Officer)</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>VANGELIS G. IKONOMOU</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Vangelis G. Ikonomou</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director and Executive Vice President</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>MICHAEL G. DOCHERTY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Michael G. Docherty</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>CHRISTOPHER J. THOMAS</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Christopher J. Thomas</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>ROY GIBBS</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Roy Gibbs</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2><BR>
Director</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
<TD WIDTH="47%" ALIGN="CENTER" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>EIRINI ALEXANDROPOULOU</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Eirini Alexandropoulou</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="50%" VALIGN="CENTER"><FONT SIZE=2><BR>
Corporate Secretary</FONT></TD>
</TR>
</TABLE>
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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD COLSPAN=3><BR><FONT SIZE=2>PUGLISI &amp; ASSOCIATES</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%" VALIGN="CENTER"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%" VALIGN="CENTER"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>GREGORY F. LAVELLE</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Name:&nbsp;&nbsp;Gregory F. Lavelle<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Managing Director</FONT></TD>
<TD WIDTH="3%" VALIGN="CENTER"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%" VALIGN="CENTER"><FONT SIZE=2><BR>
Authorized Representative<BR>
in the United States</FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=2>II-2</FONT></P>

<HR NOSHADE>
<P style='page-break-before:always'></p>
<!-- ZEQ.=1,SEQ=4,EFW="2146185",CP="TOP TANKERS INC.",DN="1",CHK=477208,FOLIO='II-2',FILE='DISK014:[04NYC5.04NYC9235]JC9235A.;6',USER='CCASTIL',CD=';5-NOV-2004;12:43' -->
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<FONT SIZE=2><A HREF="#toc_bb9235_1">EXPLANATORY NOTE</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_ja9235_1">PART II</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_ja9235_2">ITEM 16. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_jc9235_1">SIGNATURES</A></FONT><BR>
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<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>a2146185zex-5_1.htm
<DESCRIPTION>EXHIBIT 5.1
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<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="ka9235_exhibit_5"> </A>
<A NAME="toc_ka9235_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit 5    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="ka9235_[letterhead_of_seward___kissel_llp]"> </A>
<A NAME="toc_ka9235_2"> </A></FONT> <FONT SIZE=2><B>[LETTERHEAD OF SEWARD &amp; KISSEL LLP]    <BR>    </B></FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=2>November&nbsp;5,
2004 </FONT></P>

<P><FONT SIZE=2>TOP
Tankers&nbsp;Inc.<BR>
109-111 Messogion Avenue<BR>
Politia Centre<BR>
Athens 115 26 GR </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Re:
</FONT><FONT SIZE=2><I>TOP Tankers Inc</I></FONT></P>


<P><FONT SIZE=2>Ladies
and Gentlemen: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have acted as counsel to TOP Tankers&nbsp;Inc. (the "Company"), and, in such capacity, have examined the Registration Statement on Form&nbsp;F-1 filed by the Company
with the Securities and Exchange Commission on November&nbsp;5, 2004, as thereafter amended or supplemented (the "Registration Statement"), relating to, among other things, the registration of an
additional 909,563 shares (the "Shares") of the Company's common stock, par value $.01 (the "Common Stock"). 8,642,857 shares of the Common Stock were registered pursuant to the Company's Registration
Statement on Form&nbsp;F-1, as amended (File No.&nbsp;333-119806), which was declared effective on November&nbsp;4, 2004. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have examined originals or copies, certified or otherwise identified to our satisfaction, of: (i)&nbsp;the Registration Statement; (ii)&nbsp;the prospectus of the Company (the
"Prospectus") included in the Registration Statement; and (iii)&nbsp;such corporate documents and records of the Company and such other instruments, certificates and documents as we have deemed
necessary or appropriate as a basis for the opinions hereinafter expressed. In such examinations, we have assumed the authenticity of all documents submitted to us as originals, the conformity to
original documents of all documents submitted to us as copies or drafts of
documents to be executed, the genuineness of all signatures and the legal competence or capacity of persons or entities to complete the execution of documents. As to various questions of fact which
are material to the opinions hereinafter expressed, we have relied upon statements or certificates of public officials, directors of the Company and others. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have further assumed for the purposes of this opinion, without investigation, that (i)&nbsp;all documents contemplated by the Prospectus to be executed in connection with the
Offering have been duly authorized, executed and delivered by each of the parties thereto other than the Company, and (ii)&nbsp;the terms of the Offering comply in all respects with the terms,
conditions and restrictions set forth in the Prospectus and all of the instruments, agreements and other documents relating thereto or executed in connection therewith. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
upon and subject to the foregoing, and having regard to such other legal considerations which we deem relevant, we are of the opinion that: </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Common Stock has been duly authorized, and when the Common Stock has been issued, sold and paid for as contemplated in the Prospectus, the Common Stock will be validly issued, fully
paid and non-assessable, and the relative rights, interests and powers of the Common Stock are as set forth in the Articles of Incorporation and By-Laws of the Company, and all
of such rights, interests and powers are valid under the laws of the Republic of the Marshall Islands. </FONT></P>


<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
opinion is limited to the law of the State of New York and the Federal law of the United States of America and the laws of the Republic of the Marshall Islands as in effect on the
date hereof. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
hereby consent to the use of this opinion as an exhibit to the Registration Statement and to the reference to our name in the prospectus contained therein, without admitting we are
"experts" within the meaning of the Securities Act of 1933, as amended, or the rules and regulations of the Commission thereunder with respect to any part of the Registration Statement. </FONT></P>

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<TD WIDTH="49%"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD WIDTH="49%"><FONT SIZE=2>Very truly yours,</FONT></TD>
</TR>
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<TD WIDTH="49%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="49%"><FONT SIZE=2><BR>
SEWARD&nbsp;&amp; KISSEL LLP</FONT></TD>
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<FONT SIZE=2><A HREF="#toc_ka9235_1">Exhibit 5</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_ka9235_2">[LETTERHEAD OF SEWARD &amp; KISSEL LLP]</A></FONT><BR>
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<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>a2146185zex-23_2.htm
<DESCRIPTION>EXHIBIT 23.2
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<BR></FONT><FONT SIZE=2><B>Exhibit&nbsp;23.2    <BR>    </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="kc9235_consent_of_independent___kc902334"> </A>
<A NAME="toc_kc9235_2"> </A>
<BR></FONT><FONT SIZE=2><B>Consent of Independent Registered Public Accounting Firm    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We consent to the incorporation by reference to the reference to our Firm under the caption experts and to the incorporation by reference of our report dated
May&nbsp;21, 2004, with respect to the consolidated financial statements of TOP Tankers&nbsp;Inc. at December&nbsp;31, 2002 and 2003 and the three years ended December&nbsp;31, 2003 and
schedule included in its Registration Statement (Form&nbsp;F-1 No.&nbsp;333-119806), in the Registration Statement (Form&nbsp;F-1) and related Prospectus of
TOP Tankers&nbsp;Inc. for the registration of 790,924 shares of its common stock. </FONT></P>

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/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>ERNST&nbsp;&amp; YOUNG (HELLAS) CERTIFIED AUDITORS ACCOUNTANTS S.A.</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
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Athens, Greece<BR>
November&nbsp;5, 2004</FONT></TD>
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<FONT SIZE=2><A HREF="#toc_kc9235_1">Exhibit 23.2</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_kc9235_2">Consent of Independent Registered Public Accounting Firm</A></FONT><BR>

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