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Rubico Inc. Announces Financial Results for the Six Months Ended June 30, 2026
ATHENS, Greece, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Rubico Inc. (Nasdaq: RUBI) (the “Company” or “Rubico”), a global provider of shipping transportation services specializing in the ownership of vessels, announced today its financial results for the six months ended June 30, 2026. The Company reported a net loss of $1.1 million, revenues of $9.7 million and net cash provided by operating activities of $4.1 million. Furthermore, as of June 30, 2026, the Company had cash and cash equivalents (includ
About this update from Rubico Inc.
ATHENS, Greece, Aug. 17, 2026 (GLOBE NEWSWIRE) -- Rubico Inc. (Nasdaq: RUBI) (the "Company" or "Rubico"), a global provider of shipping transportation services specializing in the ownership of vessels, announced today its financial results for the six months ended June 30, 2026. The Company reported a net loss of $1.1 million, revenues of $9.7 million and net cash provided by operating activities of $4.1 million. Furthermore, as of June 30, 2026, the Company had cash and cash equivalents (including restricted cash) of $11.6 million, total assets of $149.8 million and total Stockholders' equity of $50.5 million. The Company's unaudited interim condensed consolidated financial statements and related operating and financial review for the six months ended June 30, 2026 are included in the Company's Report on Form 6-K furnished to the Securities and Exchange Commission on August 14, 2026. Kalliopi Ornithopoulou, the Company's President, Chairwoman & Chief Executive Officer, stated: The first half of 2026 was a period of solid operational performance and clear strategic progress for Rubico. The Company's vessels are required to be drydocked every five years and during the first half of 2026 both of our operating Suezmax tankers completed their drydockings. These drydockings reduced our results by $4.6 million, comprising $2.6 million of drydocking costs, $1.5 million of revenue foregone as a result of the off-hire days incurred during the drydocking period and $0.5 million of bunkers consumed during these off-hire days. At the same time, we continued to build the next phase of the Company. With three high-specification 47,499 dwt MR newbuilding tankers owned or under share purchase agreement for delivery in 2029, we are assembling a modern, fuel-efficient platform across the Suezmax and MR tanker segments, while our intended divestiture of the megayacht further sharpens our focus on our core shipping business. About the Company Rubico Inc. is a global provider of shipping transportation services specializing in the ownership of vessels. The Company is an international owner and operator of two modern, fuel-efficient, eco 157,000 dwt Suezmax tankers. Furthermore, the Company owns two 47,499 dwt MR newbuilding tankers scheduled for delivery in the third and fourth quarters of 2029 and a 60-meter newbuilding megayacht scheduled for delivery in the second quar...