Rubico's $84M Tanker Sale-Leaseback: What It Means
Update: 2025-11-12
Description
Rubico Incorporateds stock plummets as they finalize sale and leaseback agreements for two oil tankers with a Chinese financier. The M/T Eco West Coast and M/T Eco Malibu are sold for $42 million each, leased back for $180,000 and $190,000 per month respectively, with purchase obligations at the end of the ten-year leases. These deals, common in the shipping industry, aim to free up capital while maintaining asset operations.
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