Rubico posts 6M loss as drydock off-hire and lower charter rates cut revenue, company says

Reuters2026/08/14 20:41

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For the six months ended June 30, 2026, revenue fell to USD 9.67 million from USD 11.97 million; net loss was USD 1.09 million.
Performance was hit by special survey drydockings on both Suezmax tankers; about 23 off-hire days each reduced revenue by roughly USD 1.5 million.
Revenue also declined by about USD 800,000 from non-cash straight-line effects tied to amended charters that extended terms at lower rates.
Costs rose on drydocking-related items; dry-docking costs were USD 2.63 million, voyage expenses increased to USD 707,000 as bunker costs shifted to the owner.
EBITDA dropped to USD 3.02 million from USD 8.83 million; interest and finance costs fell to USD 2.16 million on lower SOFR, lower margins, capitalized interest.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Rubico Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001140361-26-033164), on August 14, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Rubico posts 6M loss as drydock off-hire and lower charter rates cut revenue, company says

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