Rubico's $84M Tanker Sale-Leaseback: What It Means

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.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.