Exhibit 4.77

   

  

  
    NORD/LB

    

    

    

    

    

    

    	
            MONTE CARLO SEVEN SHIPPING COMPANY
                  LIMITED

                Trus Company Complex

                Ajeltake Road

                96960 Majuro

                Marshall Islands

          	 	
            March 29, 2017

          


    

    

    	 	 	
            OTC Confirmations

             

            Phone:  +49-511-361-5246

            Fax:      +49-511-361-4429

             

            Person responsible:  Tobias Thies

             

              

          


    Email   : atsirikos@topships.org

    Confirmation of an Interest Rate Swap Transaction

    

    

    (Our Ref,: IRD/IRS/9439572/HAN

        UTI: EO2DSNHHQ2B9X5N6OUJ1236IRDIRS9397337HAN)

    

    

    	
            Your Trader

            Trade Date

             

            Effective Date

            Termination Date

            Notional Amount

             

            Fixed Rate Payer

            Fixed Rate

             

             

            Floating Rate Payer

            Floating Rate

            +/- Spread

             

            Payments to

            MONTE CARLO SEVEN SHIPPING COMPANY LIMITED

            - in USD

             

            Payments to

            NORDDEUTSCHE LANDESBANK GIROZENTRALE

            - in USD

          	
            :

            :

             

            :

            :

            :

             

            :

            :

             

             

            :

            :

            :

             

             

             

            :

             

             

             

            :

          	
            TSIRIKOS

            March 29, 2017

            (time of trade : 09:38 am Hannover time)

            May 17, 2017

            May 17, 2023

            USD 21,139,200.00

             

            MONTE CARLO SEVEN SHIPPING COMPANY LIMITED

            2.19000 %

             

             

            NORDDEUTSCHE LANDESBANK GIROZENTRALE

            3-Month(s)-USD-LIBOR-BBA

            none

             

             

             

            PLEASE ADVISE

             

             

             

            JP MORGAN CHASE BANK, NEW YORK

            A/C 0011337268

            SWIFT CHASUS33

          


    

    

    Other Provisions

    - The Notional/Currency Amount (as applicable) is subject to amortization and/or increase.  Please see fully detailed confirmation for full
        particulars.

    

    

    

    

    This transaction is subject to a 1992 ISDA Master Agreement. In the event that the parties have not yet entered into such agreement the parties
        hereto agree to negotiate in good faith and enter into an agreement in form of the 1992 ISDA Master Agreement.  Please contact us immediately should the particulars of this confirmation not be in accordance with your understanding.

    

    

    This confirmation does not supersede the fully detailed confirmation of the Calculation Agent.

    

    

    

    

    

    

    	
            IRD/IRS/9439572/HAN 

            

            Norddeutsche Landesbank

            Girozentrale

             

                 Finanzgrupp

          	
              

            

            Friedrichswall 10,30159 Hannover

            Postanschrift: 30151 Hannover

            Telefon (0511) 361-0, Telex 921 620 gzh d

            Telefax (0511) 361-2502, www.nordlb,de

          	
             

            S.W.I.F.T. NOLADE2H, BLZ 250 500 00

            Anstalt öffentlichen Rechts mit Sitz in Hannover, Braunschweig,

            Magdeburg - Handelsregister: AG Hannover HRA 26247,

            AG Braunschweig HRA 10261, AG Stendal HRA 22150

          


    
      
        


    

    

    

    NORD/LB

    

    

    

    

    

    

    	
            MONTE CARLO SEVEN SHIPPING COMPANY LIMITED

            Vassilissis Sofias Street 1

            15124 Maroussi-Athens

            Greece

          	
             

            OTC Confirmations

            Tobias Thies

             

            Georgsplatz 1

            D-30159 Hannover

            Germany

             

            Phone:  +49-511-361-5246

            Fax:      +49-511-361-4429

          


    

    

    	
            Attention:  atsirikos@topships.org

          	 	
            Our Reference:

            IRD/IRS/9439572/HAN

            UTI: E02DSNHHQ2B9X5N60OUJ12361RDIRS9397337HAN

             

             

            Your Reference:

             

             

            March 29, 2017

          


    

    

    

    

    Interest Rate Swap

    Dear Sirs,

    

    

    The purpose of this letter agreement is to confirm the terms and conditions of the Swap Transaction entered into between us on the Trade Date
        specified below (the "Transaction").

    

    

    This letter agreement constitutes a "Confirmation" as referred to in the Agreement specified below.

    

    

    The definitions and provisions contained in the 2006 ISDA Definitions, as published by the International Swaps and Derivatives Association, Inc.
        ("ISDA"), are incorporated into this Confirmation. In the event of any inconsistency between those definitions and provisions and this Confirmation, this Confirmation will govern.

    

    

    1.  This Confirmation supplements, forms part of, and is subject to, the 2002 ISDA Master Agreement dated as of May 19, 2016, as amended and
        supplemented from time to time (the "Agreement"), between you and us.

    All provisions contained in the Agreement govern this Confirmation except as expressly modified below.

    

    

    2.  The terms of the Transaction to which this Confirmation relates are as follows:

    

    

    	
            Trade Date :

             

            Effective Date :

          	 	
            March 29, 2017

            (time of trade : 09:38 am Hannover time)

            May 17, 2017

          


    

    

    

    

    

    

    

    

    	
            IRD/IRS/9439572/HAN

             

            Norddeutsche Landesbank

            Girozentrale

             

                 Finanzgrupp

          	
             

             

            Friedrichswall 10, 30159 Hannover

            Postanschrift: 30151 Hannover

            Telefon (0511) 361-0, Telex 921 620 gzh d

            Telefax (0511) 361-2502, www.nordlb.de

          	
             

             

            S.W.I.F.T. NOLADE2H, BLZ 250 500 00

            Anstalt öffentlichen Rechts mit Sitz in Hannover, Braunschweig,

            Magdeburg - Handelsregister: AG Hannover HRA 26247,

            AG Braunschweig HRA 10261, AG Stendal HRA 22150

          


    
      
        


    

    

    

    NORD/LB

    

    

    

    

    

    

    	
            Termination Date :

          	 	
            May 17, 2023 , subject to adjustment in

            accordance with the Modified Following

            Business Day Convention.

          	 
	 	 	 	 
	
            FIXED AMOUNTS

          	 	 	 
	 	 	 	 
	
            Fixed Rate Payer :

          	 	
            MONTE CARLO SEVEN SHIPPING COMPANY

            LIMITED

          	 
	 	 	 	 
	
            Fixed Rate Payer Notional Amount :

          	 	
            USD 21,139,200.00, subject to change as set

            forth under "Fixed Rate Payer Payment Dates".

          	 
	 	 	 	 
	
            Fixed Rate :

          	 	
            2.190000 %

          	 
	 	 	 	 
	
            Fixed Rate Day Count Fraction :

          	 	
            ACT/360

          	 
	 	 	 	 
	
            Fixed Rate Payer Payment Dates :

          	 	
            Fixed Rate Payer Payment Dates are subject to

            adjustment in accordance with the following

            convention:

          	 


    

    

    	 	 	
            Modified Following Business Day

          	 


    

    

    	 	 	
            Payment Date

          	
            Change in Calculation Amount in USD

          	 
	 	 	
            August 17, 2017

          	
            -511,450.00

          	 
	 	 	
            November 17, 2017

          	
            -511,450.00

          	 
	 	 	
            February 17, 2018

          	
            -511,450.00

          	 
	 	 	
            May 17, 2018

          	
            -511,450.00

          	 
	 	 	
            August 17, 2018

          	
            -511,450.00

          	 
	 	 	
            November 17, 2018

          	
            -511,450.00

          	 
	 	 	
            February 17, 2019

          	
            -511,450.00

          	 
	 	 	
            May 17, 2019

          	
            -511,450.00

          	 
	 	 	
            August 17, 2019

          	
            -473,000.00

          	 
	 	 	
            November 17, 2019

          	
            -473,000.00

          	 
	 	 	
            February 17, 2020

          	
            -473,000.00

          	 
	 	 	
            May 17, 2020

          	
            -473,000.00

          	 
	 	 	
            August 17, 2020

          	
            -473,000.00

          	 
	 	 	
            November 17, 2020

          	
            -473,000.00

          	 
	 	 	
            February 17, 2021

          	
            -473,000.00

          	 
	 	 	
            May 17, 2021

          	
            -473,000.00

          	 
	 	 	
            August 17, 2021

          	
            -473,000.00

          	 
	 	 	
            November 17, 2021

          	
            -473,000.00

          	 
	 	 	
            February 17, 2022

          	
            -473,000.00

          	 


    

    

    

    

    

    

    
      	
              IRD/IRS/9439572/HAN

               

              Norddeutsche Landesbank

              Girozentrale

               

                   Finanzgrupp

            	
               

               

              Friedrichswall 10, 30159 Hannover

              Postanschrift: 30151 Hannover

              Telefon (0511) 361-0, Telex 921 620 gzh d

              Telefax (0511) 361-2502, www.nordlb.de

            	
               

               

              S.W.I.F.T. NOLADE2H, BLZ 250 500 00

              Anstalt öffentlichen Rechts mit Sitz in Hannover, Braunschweig,

              Magdeburg - Handelsregister: AG Hannover HRA 26247,

              AG Braunschweig HRA 10261, AG Stendal HRA 22150

            


    

    
      
        


    

    

    

    NORD/LB

    

    

    

    

    

    

    	 	 	
            May 17, 2022

          	
            -473,000.00

          	 
	 	 	
            August 17, 2022

          	
            -473,000.00

          	 
	 	 	
            November 17, 2022

          	
            -473,000.00

          	 
	 	 	
            February 17, 2023

          	
            -473,000.00

          	 
	 	 	
            May 17, 2023

          	
            ----

          	 


    

    

    	
            Business Days :

          	 	
            Athens, Frankfurt, Hannover, London, New York

          	 
	 	 	 	 
	
            FLOATING AMOUNTS

          	 	 	 
	 	 	 	 
	
            Floating Rate Payer :

          	 	
            NORDDEUTSCHE LANDESBANK

            GIROZENTRALE

          	 
	 	 	 	 
	
            Floating Rate Payer Notional Amount :

          	 	
            USD 21,139,200.00, subject to change as set

            forth under "Floating Rate Payer Payment

            Dates".

          	 
	 	 	 	 
	
            Floating Rate Option :

          	 	
            USD-LIBOR-BBA

          	 
	 	 	 	 
	
            Designated Maturity :

          	 	
            3 month(s)

          	 
	 	 	 	 
	
            Spread :

          	 	
            None

          	 
	 	 	 	 
	
            Floating Rate Day Count Fraction :

          	 	
            ACT/360

          	 
	 	 	 	 
	
            1st Floating Period :

          	 	
            May 17, 2017 - August 17, 2017 ( 92 days)

          	 
	 	 	 	 
	
            1st Floating Rate :

          	 	
            Next fixing date on May 15, 2017.

          	 
	 	 	 	 
	
            1st Floating Rate Interest Amount :

          	 	
            Next fixing date on May 15, 2017.

          	 
	 	 	 	 
	
            Reset Dates :

          	 	
            The first day of each Calculation Period.

          	 
	 	 	 	 
	
            Floating Rate Payer Payment Dates :

          	 	
            Floating Rate Payer Payment Dates are subject

            to adjustment in accordance with the following

            convention:

          	 


    

    

    	 	 	
            Modified Following Business Day

          	 


    

    

    	 	 	
            Payment Date

          	
            Change in Calculation Amount in USD

          	 
	 	 	
            August 17, 2017

          	
            -511,450.00

          	 
	 	 	
            November 17, 2017

          	
            -511,450.00

          	 
	 	 	
            February 17, 2018

          	
            -511,450.00

          	 
	 	 	
            May 17, 2018

          	
            -511,450.00

          	 


    

    

    

    

    

    

    
      	
              IRD/IRS/9439572/HAN

               

              Norddeutsche Landesbank

              Girozentrale

               

                   Finanzgrupp

            	
               

               

              Friedrichswall 10, 30159 Hannover

              Postanschrift: 30151 Hannover

              Telefon (0511) 361-0, Telex 921 620 gzh d

              Telefax (0511) 361-2502, www.nordlb.de

            	
               

               

              S.W.I.F.T. NOLADE2H, BLZ 250 500 00

              Anstalt öffentlichen Rechts mit Sitz in Hannover, Braunschweig,

              Magdeburg - Handelsregister: AG Hannover HRA 26247,

              AG Braunschweig HRA 10261, AG Stendal HRA 22150

            


    

    

    

    
      
        


    

    

    

    NORD/LB

    

    

    	 	 	
            August 17, 2018

          	
            -511,450.00

          	 
	 	 	
            November 17, 2018

          	
            -511,450.00

          	 
	 	 	
            February 17, 2019

          	
            -511,450.00

          	 
	 	 	
            May 17, 2019

          	
            -511,450.00

          	 
	 	 	
            August 17, 2019

          	
            -473,000.00

          	 
	 	 	
            November 17, 2019

          	
            -473,000.00

          	 
	 	 	
            February 17, 2020

          	
            -473,000.00

          	 
	 	 	
            May 17, 2020

          	
            -473,000.00

          	 
	 	 	
            August 17, 2020

          	
            -473,000.00

          	 
	 	 	
            November 17, 2020

          	
            -473,000.00

          	 
	 	 	
            February 17, 2021

          	
            -473,000.00

          	 
	 	 	
            May 17, 2021

          	
            -473,000.00

          	 
	 	 	
            August 17, 2021

          	
            -473,000.00

          	 
	 	 	
            November 17, 2021

          	
            -473,000.00

          	 
	 	 	
            February 17, 2022

          	
            -473,000.00

          	 
	 	 	
            May 17, 2022

          	
            -473,000.00

          	 
	 	 	
            August 17, 2022

          	
            -473,000.00

          	 
	 	 	
            November 17, 2022

          	
            -473,000.00

          	 
	 	 	
            February 17, 2023

          	
            -473,000.00

          	 
	 	 	
            May 17, 2023

          	
            ----

          	 


    

    

    	
            Business Days :

          	 	
            Athens, Frankfurt, Hannover, London, New York

          	 
	 	 	 	 
	 	 	 	 
	
            Calculation Agent :

          	 	
            NORDDEUTSCHE LANDESBANK

            GIROZENTRALE

          	 
	 	 	 	 
	 	 	 	 
	
            ACCOUNT DETAILS

          	 	 	 
	 	 	 	 
	
            Your account

            - for payments in USD

          	 	
             

            PLEASE ADVISE

          	 
	 	 	 	 
	
            Our account

            - for payments in USD

          	 	
             

            JP MORGAN CHASE BANK, NEW YORK

            A/C 0011337268

            SWIFT CHASUS33

          	 
	 	 	 	 


    

    

    

    

    

    

    

    

    
      	
              IRD/IRS/9439572/HAN

               

              Norddeutsche Landesbank

              Girozentrale

               

                   Finanzgrupp

            	
               

               

              Friedrichswall 10, 30159 Hannover

              Postanschrift: 30151 Hannover

              Telefon (0511) 361-0, Telex 921 620 gzh d

              Telefax (0511) 361-2502, www.nordlb.de

            	
               

               

              S.W.I.F.T. NOLADE2H, BLZ 250 500 00

              Anstalt öffentlichen Rechts mit Sitz in Hannover, Braunschweig,

              Magdeburg - Handelsregister: AG Hannover HRA 26247,

              AG Braunschweig HRA 10261, AG Stendal HRA 22150

            


    

    

    

    
      
        


    

    

    

    NORD/LB

    

    

    

    

    

    

    OFFICES

    (a)  The Office of NORDDEUTSCHE LANDESBANK GIROZENTRALE for this Transaction is

        HANNOVER.

    (b)  The Office of MONTE CARLO SEVEN SHIPPING COMPANY LIMITED for this Transaction

        is MAJURO, MARSHALL ISLANDS.

    OTHER PROVISIONS

    none.

    We would like to inform you that due to the EMIR (European Market Infrastructure Regulation) regulatory requirements,
        contracting parties are obliged to comply with very short confirmation deadlines. Thus, transactions among Financial Counterparties are to be signed by all parties 1 business day after Trade Date and transactions under participation of at least one
        Non-Financial Counterparty within 2 business days after Trade Date. In order to observe these deadlines, we kindly ask you to return the countersigned confirmation before the expiry of these deadlines.

    For a person or company registered in Germany liable for taxation:
      As from 01 January 2009, NORDLB as paying agent must meet the requirement to withhold and pay "Kapitalertragsteuer
          (withholding tax) for derivatives where no legally specified exemption is applicable. Please bear in mind that when engaging yourself in derivative trading, this is the reason why credit and debit entries might be reduced.

    

    Please confirm that the foregoing correctly sets forth the terms of our agreement by signing this Confirmation and returning it to us.

  
    

    

    Yours sincerely,

    Norddeutsche Landesbank Girozentrale

    

    

    	
            /s/ Grünewald

          	 	
            /s/ Thies

          	 
	
            Grünewald

          	 	
            Thies

          	 


    

    

    Confirmed as of the date first written:

    MONTE CARLO SEVEN SHIPPING COMPANY LIMITED

    

    

    	
            /s/ Alexandros Tsirikos

          	 	 	 
	
            ALEXANDROS TSIRIKOS

          	 	 	 
	
            ATTORNEY-IN-FACT

          	 	 	 


    

    

    

    

    

    

    
      	
              IRD/IRS/9439572/HAN

               

              Norddeutsche Landesbank

              Girozentrale

               

                   Finanzgrupp

            	
               

               

              Friedrichswall 10, 30159 Hannover

              Postanschrift: 30151 Hannover

              Telefon (0511) 361-0, Telex 921 620 gzh d

              Telefax (0511) 361-2502, www.nordlb.de

            	
               

               

              S.W.I.F.T. NOLADE2H, BLZ 250 500 00

              Anstalt öffentlichen Rechts mit Sitz in Hannover, Braunschweig,

              Magdeburg - Handelsregister: AG Hannover HRA 26247,

              AG Braunschweig HRA 10261, AG Stendal HRA 22150