Core Viewpoint - Rubico Inc. has successfully extended the time charter agreements for its two ECO tanker vessels, ensuring stable revenue generation through 2027 and beyond [1][2]. Group 1: Charter Agreement Details - The time charter employment for both vessels will continue at a gross daily hire rate of $32,850 until January 11, 2027, followed by a reduced rate of $29,990 for the next four years [1]. - The charterer retains the option to extend each time charter for two additional years at rates of $34,750 for the first optional year and $36,750 for the second optional year [2]. Group 2: Financial Implications - The total contracted revenue backlog has reached $120.8 million since the latest reported period, indicating a strong financial position for the company [2]. Group 3: Company Overview - Rubico Inc. specializes in the ownership and operation of modern, fuel-efficient ECO Suezmax tankers, with a focus on providing shipping transportation services [3]. - The company is incorporated in the Republic of the Marshall Islands and operates from Athens, Greece, with its shares traded on the Nasdaq Capital Market under the symbol "RUBI" [3].
Rubico Inc. Announces Time Charter Extensions and Contracted Revenue Backlog of $120.8 Million