Athens-based suezmax tanker owner Rubico has entered into a letter of intent for the potential acquisition from Top Ships, a related party controlled by Rubico’s controlling shareholder, of a shipowning company
Athens-based suezmax tanker owner Rubico has entered into a letter of intent for the potential acquisition from Top Ships, a related party controlled by Rubico’s controlling shareholder, of a shipowning company – a special purpose vehicle (SPV) – that is party to a shipbuilding agreement with Guangzhou Shipyard International Company Limited for the construction of a high specification MR chemical/product oil tanker.
The vessel is scheduled for delivery in the second quarter of 2029.
In accordance with Rubico, the special purpose vehicle has entered into a time charter agreement with Trafigura Maritime Logistics at a minimum fixed duration of 7 years at a time charter rate of $18,750 per day and is also party to a lease financing agreement with a Chinese lessor for 85% of the shipbuilding price starting from the first instalment on a pro-rata basis, without any asset cover requirement for the duration of the time charter.
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