A newbuilding investment transferred to Rubico
Splash247 reports Rubico’s agreement to buy a special-purpose company from former parent TOP Ships for approximately $6.25m. The company held a contract for a 47,499-dwt product and chemical tanker at GSI, with delivery scheduled for the third quarter of 2029. The vessel’s construction price was reported at $45.2m.
The transaction linked asset ownership to existing financing and employment arrangements. A Chinese sale-and-leaseback facility was to cover 85% of instalments, while a seven-year charter included four optional years and potential revenue of roughly $75.4m. The article places this individual transfer within the broader Pistiolis-linked newbuilding programme and Rubico’s shift away from a planned megayacht investment towards tanker assets.
An editorial summary of the linked publication. Figures and plans refer to its publication date.