Rubico Inc. has entered into a share purchase agreement to acquire a third newbuilding MR tanker from related party Top Ships Inc., increasing the company's total potential gross revenue backlog by 24% to approximately $379.2 million. The 47,499 dwt chemical/product oil carrier is under construction at Guangzhou Shipyard International and China Shipbuilding Trading, with delivery expected in the second quarter of 2029. The vessel has secured a seven-year time charter with a major oil trader, with an option for four additional years, contributing about $75.4 million in potential gross revenue. The aggregate purchase price for the shipowning entity is approximately $6.5 million, and the transaction is expected to close by September 30, 2026. With this acquisition, the potential gross revenue backlog from Rubico's three newbuilding MR tankers alone reaches approximately $226.3 million.
Rubico Inc. Common StockAcquires a new MR tanker with a seven-year time charter from a major oil trader, adding $75.4M in potential gross revenue.
TOP Ships Inc.