Rubico Inc. has decided to divest its newbuilding megayacht and exit the megayacht sector to redeploy capital toward its core tanker business. The company intends to sell the 60-meter, 1,150-gross-ton vessel, which is scheduled for delivery in the second quarter of 2027, or the entity holding the shipbuilding contract. Based on independent market estimates, Rubico believes a sale could generate gross cash proceeds of €30 to €35 million, or about $34.2 to $40 million, while eliminating a €26.5 million capital commitment payable before delivery. President, Chairwoman, and CEO Kalliopi Ornithopoulou said the move reflects a focus on the tanker segment and could result in a meaningful equity release relative to the company’s market capitalization. Rubico currently owns two Suezmax tankers and has one MR tanker newbuilding on order, and its shares trade on Nasdaq under the symbol RUBI.
Rubico Inc. Common StockDivesting megayacht to redeploy capital to core tanker business, generating cash proceeds and eliminating capital commitment.