Rubico Inc. (Nasdaq: RUBI), a shipping company based in Athens, Greece, announced a management estimate of its net asset value (NAV) as of June 30, 2026, at $183.1 million, representing a 94% increase from the NAV previously reported on March 2, 2026.

The estimate is based on charter-free vessel value assessments from third-party international brokers, combined with outstanding debt and cash figures. On a per-share basis, the company said the NAV translates to $300.26 per common share, or $72.22 per common share on a fully diluted basis, assuming the exercise of all 669,193 outstanding warrants and the full conversion of all Series G Convertible Preferred Shares.

The company's CEO stated that as of the prior market close, Rubico was trading at a 95% discount to its fully diluted NAV estimate. The CEO also noted the fleet has an average age of approximately 5.2 years and that the company's pipeline includes two 47,499 dwt MR tanker newbuildings scheduled for delivery in the third and fourth quarters of 2029, along with a 60-meter megayacht scheduled for delivery in the second quarter of 2027, which the company intends to divest.

Rubico currently owns and operates two 157,000 dwt Suezmax tankers. The company has also entered into a share purchase agreement to acquire a shipowning company holding one of the MR tanker newbuildings, with closing expected by September 30, 2026.

The company is incorporated under the laws of the Republic of the Marshall Islands. The NAV figures are management estimates and based on a press release statement from the company.