| | | RUBI. Up 50% today. Nice find and nice share price move on today's announcement of secured charter rates. I will step up here for a few shares.
"The Company is an international owner and operator of two modern, fuel efficient, eco 157,000 dwt Suezmax tankers." Enterprise value now is about $79M, per Yahoo.
How much are "two modern, fuel efficient, eco 157,000 dwt Suezmax tankers" worth?
I see this recent news:
Greek owner Okeanis Eco Tankers is moving to expand its crude fleet with the purchase of two suezmax newbuilding resales, backed by a planned share issue to help finance the deal.The New York- and Oslo-listed company, controlled by the Alafouzos family, has agreed to buy the 157,000 dwt tankers for $97m each. The vessels are under construction at Daehan Shipbuilding in South Korea and are being acquired from an undisclosed third-party seller.
Nordic American Tankers plans to build two Suezmax tankers, set for delivery in late 2028, at $86 million each.Nov 3, 2025
$194M or $172M new vs. RUBI's used-but-"modern" $79M. I haven't carried out further investigation, but it seems to me a used tanker with still years of service remaining would be worth more than just half of a new tanker soon to be put in service. Thus also my opinion that RUBI stock is likely undervalued here. |
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