Rubico Inc announces time charter extensions, contract revenue backlog

Rubico announced that it entered into agreements with the time charterer of both its vessels to extend their time charter employment. Specifically, both vessels will continue earning a gross daily hire rate of $32,850 until 11 January 2027 and thereafter, and for 4 years, they earn a gross daily hire rate of $29,990. All other terms will remain as per the current time charter contracts, including the charterer’s option to extend each time charter for two additional years at a gross daily rate of $34,750 for the first optional year and $36,750 for the second optional year. Following this development, the total contracted revenue backlog since the latest reported period stands at $120.8 million.