Rubico posts $1.1 million first-half loss

• Rubico reported a first-half 2026 net loss of $1.1 million on revenue of $9.7 million, while operating cash flow totaled $4.1 million.
• Rubico shares were down 2.1% at $1.83 in Monday trading following the financial-results announcement.
• Rubico said drydockings reduced first-half results by $4.6 million as it continued expanding its planned MR tanker fleet.

Rubico (NASDAQ:RUBI) reported a first-half 2026 net loss of $1.1 million on revenue of $9.7 million, with operating cash flow of $4.1 million.

The result compared with $12.0 million of revenue and $4 million of net income a year earlier, as both operating Suezmax tankers underwent mandatory drydockings.

Rubico said drydockings reduced results by $4.6 million, comprising $2.6 million of costs, $1.5 million of foregone revenue and $0.5 million of bunkers.

Rubico ended June with $11.6 million of cash and $50.5 million of stockholders’ equity; following the announcement the Rubico share price was down 2.1% at $1.83.

Rubico currently operates two 157,000 dwt Suezmax tankers, owns two 47,499 dwt MR newbuildings and plans to divest a 60-meter megayacht scheduled for 2027 delivery.

The company also agreed to acquire another 47,499 dwt MR newbuilding scheduled for Q2 2029, with closing targeted by September 30 and its three planned MR tankers contributing to a potential gross revenue backlog of about $226.3 million.