Rubico Announces Acquisition of another Two Newbuilding MR Tankers and a 40% Increase of Potential Gross Revenue Backlog to About $523 Million
Key Highlights
- ➤$14.5 million acquisition adds two 47,499 dwt MR tanker newbuildings
- ➤$150.9 million potential gross revenue backlog secured under Trafigura charters
- ➤Seven-year time charters begin upon delivery, with four-year extension options
- ➤$523.1 million total potential gross revenue backlog after acquisition closing
- ➤85% of shipbuilding installments financed through sale-and-leaseback agreements
Expert Statements
Kalliopi Ornithopoulou, President, Chairwoman & Chief Executive Officer of Rubico Inc.
“This acquisition, consistent with our strategy of deploying capital into our core tanker business, marks a significant milestone that further expands our fleet and strengthens our contracted revenue base.”
Kalliopi Ornithopoulou, President, Chairwoman & Chief Executive Officer of Rubico Inc.
“As a result, our total potential gross revenue backlog including available charterer extension optional periods from our five newbuilding MR tankers, upon closing of the acquisition, increases to approximately $377.1 million.”
Kalliopi Ornithopoulou, President, Chairwoman & Chief Executive Officer of Rubico Inc.
“Including contracted time charters for our operating fleet, total potential gross revenue backlog—including available charterer extension optional periods —rises to approximately $523.1 million, underscoring the strength and visibility of our future cash flows.”
ATHENS, Greece, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Rubico Inc. (Nasdaq: RUBI) (the “Company” or “Rubico”), a global provider of shipping transportation services specializing in the ownership of vessels, announced today that it has entered into a share purchase agreement (the “SPA”) with Top Ships Inc., a related party, to purchase the shares of two companies (the “SPVs”), each of which is party to a shipbuilding contract with Guangzhou Shipyard International Company Limited and China Shipbuilding Trading Co., Ltd. for the construction of a 47,499 dwt chemical/product oil carrier (the “Newbuilding MR Tankers”). The Newbuilding MR Tankers are scheduled for delivery in the fourth quarter of 2028 and the fourth quarter of 2029, respectively. Each SPV has secured time charter employment for its vessel with Trafigura Maritime Logistics Pte Ltd, starting from its delivery and for a firm duration of seven years, with charterer’s option to extend for four additional years. The total potential gross revenue backlog from these contracts, including available charterer extension optional periods, is about $150.9 million.
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