Rubico Announces Closing of the Acquisition of Additional Newbuilding MR Tanker
Key Highlights
- ➤$226.3 million potential backlog from three newbuilding MR tankers, including extension options
- ➤$374.6 million potential total backlog, including operating-fleet time charters and extensions
- ➤Third 47,499 dwt MR tanker acquisition closed; delivery scheduled for Q2 2029
- ➤Seven-year time charter secured with major oil trader, plus four-year extension option
- ➤0.50-for-one stock dividend completed; shares began trading ex-dividend October 6
Expert Statements
Kalliopi Ornithopoulou, President, Chairwoman & Chief Executive Officer of Rubico Inc.
“Following this closing of our third modern newbuilding MR tanker, our total potential gross revenue backlog, including available charterer extension optional years, from our three newbuilding MR tankers, is approximately $226.3 million. Including contracted time charters for our operating fleet and assuming the exercise of all available charter extension options, our total potential gross revenue backlog amounts to approximately $374.6 million, providing significant revenue visibility for future periods. This strategy of acquiring modern newbuilding tankers, with 85% of their shipbuilding installments financed, supports our fleet growth objectives while increasing contracted revenue visibility over the long term. In addition, we have completed our previously announced stock dividend of 0.50 common shares for each common share outstanding, with our shares trading ex-dividend as of today. We believe these initiatives further enhance Rubico’s position as the owner of a modern, fuel-efficient tanker fleet.”
ATHENS, Greece, Oct. 06, 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 the closing of the previously announced share purchase agreement dated July 27, 2026 with Top Ships Inc., a related party, pursuant to which the Company acquired the shares of a company (the “SPV”) that is party to a shipbuilding contract with Guangzhou Shipyard International Company Limited for the construction of a 47,499 dwt chemical/product oil carrier (the “Newbuilding MR Tanker”). The Newbuilding MR Tanker is scheduled for delivery in the second quarter of 2029. The SPV has secured time charter employment for the vessel with a major oil trader, starting from its delivery and for a firm duration of seven years, with charterer’s option to extend for four additional years.
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