Rubico agrees to buy two tanker-owning companies from Top Ships for $14.5 million
TOPS•Rubico agreed to acquire two tanker-owning companies from related party Top Ships for $14.5 million. The deal could add about $150.9 million in potential gross vessel revenue and increase Rubico’s potential gross revenue backlog by 40% to approximately $523.1 million, including charter extension options.
1. Proposed acquisition
Rubico agreed to acquire two tanker-owning companies from related party Top Ships for $14.5 million. Payment may be made in cash or Series G Perpetual Convertible Preferred Shares, with closing expected by March 31, 2027.
2. Vessel contracts
The companies hold contracts for two 47,499-dwt chemical/product oil tankers scheduled for delivery in the fourth quarters of 2028 and 2029. Seven-year charters with Trafigura Maritime Logistics include four-year extension options, bringing potential gross vessel revenue to about $150.9 million.
3. Backlog impact
The acquisition would increase Rubico’s total potential gross revenue backlog by 40% to approximately $523.1 million, including charter extension options.
