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Rubico Inc

rubicoinc.com

What Do They Do?

Operates crude-oil tankers that carry cargo for charterers, including shipping companies.

How Do They Make Money?

Charterers pay a daily hire rate for using the vessels for a set period, generally monthly in advance. Charter revenue is earned over the charter period.

FY2025 revenue

Who Are Their Customers?

Clearlake was its only customer; Trafigura has a time charter for the new tanker after delivery.

Do Revenues Turn Into Profits?

Yes. It kept 11 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025
53% of revenue
▼ 0% vs FY2024 ($12.4M, 51%)
Net income, FY2025
11% of revenue
▼ −56% vs FY2024 ($5.9M, 25%)

How Are They Changing?

Flat. Revenue was $23.5M in FY2025, about the same as the $24.5M of FY2023.

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