Rubico Inc. agreed to acquire a special purpose vehicle from Top Ships Inc. for approximately $6.25 million. The acquisition secures a shipbuilding contract for a 47,499 dwt chemical and product oil tanker. The transaction is expected to close by September 30, 2026.
The vessel is scheduled for delivery in the third quarter of 2029. It has already secured a seven-year time charter with a major oil trader. The charter agreement includes a four-year extension option.
The contract is projected to generate $75.4 million in gross revenue if all options are exercised. This acquisition increases Rubico’s total potential gross revenue backlog by 33% to approximately $304.6 million.