Rubico to Acquire 2 Companies With Newbuilding Medium Range Tankers

Rubico Inc. (RUBI) agreed to acquire two MR tankers for $14.5 million, increasing its potential revenue backlog by 40% to $523.1 million. The vessels, with 7-year charters from Trafigura, are set for 2028-2029 delivery. Financing includes sale and leaseback terms. The deal, expected to close by March 2027, was approved by an independent committee.

Rubico (NASDAQ:RUBI) completed the acquisition of a newbuilding MR tanker, scheduled for 2029 delivery, with a 7-year charter and 4-year extension option. This adds to its fleet, increasing potential revenue backlog to $374.6M. 85% of shipbuilding costs are financed. The company also declared a stock dividend.

Rubico Inc. (RUBI) completed the acquisition of a special purpose vehicle (SPV) holding a contract for an MR tanker, with a 7-year charter secured. The tanker is expected to be delivered in Q2 2029, and the deal adds approximately $374.6M to the company's potential gross revenue backlog, assuming all options are exercised.

Rubico Inc. (Nasdaq: RUBI) agreed to buy an SPV from Top Ships Inc. tied to a 47,499 dwt MR tanker newbuilding contract with Guangzhou Shipyard and China Shipbuilding Trading. Purchase price is about $6.25 million, closing by Sept. 30, 2026. Delivery is Q3 2029; 7-year time charter. Potential gross revenue backlog rises to about $305 million.

Rubico Inc. (Nasdaq: RUBI) said it will divest its 60-meter megayacht under construction and exit the megayacht sector to redeploy capital to its core tanker business. The company expects gross cash proceeds of about €30-€35 million and to eliminate a €26.5 million pre-delivery capital commitment. Delivery is targeted for Q2 2027.

Samsung Electronics is in talks to acquire Modine Manufacturing, a maker of data center cooling systems, according to Bloomberg. Modine's market value was $5.6 billion as of Thursday's close, and its shares jumped 29% in extended trading after the report. The deal is not finalized, and no price has been disclosed. Samsung has previously expressed interest in M&A in areas including HVAC, robotics, and medical technology.