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

For the six months ended June 30, 2026, revenue fell to $9.67 million from $11.97 million, and net loss was $1.09 million.

Performance was hit by special survey drydockings on both Suezmax tankers; about 23 off-hire days each reduced revenue by roughly $1.5 million. Revenue also declined by about $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 $2.63 million, and voyage expenses increased to $707,000 as bunker costs shifted to the owner. EBITDA dropped to $3.02 million from $8.83 million, while interest and finance costs fell to $2.16 million on lower SOFR, lower margins and capitalized interest.