Rubico agrees to buy two tanker-owning companies from Top Ships for $14.5 million
RUBI•Rubico agreed to acquire two vessel-owning companies from Top Ships for $14.5 million, adding newbuilding MR tankers with potential gross revenue backlog of $150.9 million, including charter extensions. The acquisition would increase total potential gross revenue backlog by 40% to approximately $523.1 million.
1. Deal terms
Rubico agreed to acquire two vessel-owning companies from related party Top Ships for $14.5 million. Payment is due at closing, expected by March 31, 2027, in cash or Series G Perpetual Convertible Preferred Shares.
2. Vessels and charters
The two newbuilding MR tankers are scheduled for delivery in the fourth quarters of 2028 and 2029, respectively. Seven-year Trafigura Maritime Logistics charters include four-year extension options, bringing potential gross revenue backlog from the vessels to $150.9 million.
