Rubico expands MR tanker newbuild bet with Top Ships deal

AI Summary

Rubico, a Nasdaq-listed tanker owner, agreed to acquire a MR newbuilding tanker contract from former parent Top Ships for $6.25 million. This move marks Rubico's strategic exit from the megayacht sector to focus on tankers, indicating a shift in capital allocation within maritime assets.

Nasdaq-listed tanker owner Rubico has agreed to acquire an MR newbuilding from former parent Top Ships, hours after announcing plans to leave the megayacht sector and redirect capital towards tankers. The Athens-based company will pay about $6.25m for the shares of a special-purpose company holding a contract for a 47,499 dwt product and chemical tanker …