As filed with the Securities and Exchange Commission on October 8, 2025. Registration No. 333-290426 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Rubico Inc. (Exact name of Registrant as specified in its charter) Republic of the Marshall Islands (State or other jurisdiction of incorporation or organization) 4412 (Primary Standard Industrial Classification Code Number) N/A (I.R.S. Employer Identification No.) 20 Iouliou Kaisara Str 19002 Paiania Athens, Greece +30 210 812 8107 (Add ...

Core Viewpoint - The article discusses the investment thesis for Okeanis (NYSE: ECO), highlighting its potential as an interesting buy despite recent softening in rates due to seasonal factors and OPEC+ decisions [1]. Group 1: Company Overview - Okeanis operates in a cyclical industry, which is expected to yield significant returns during economic recovery and growth phases [1]. - The company has been analyzed previously, indicating a consistent interest in its performance and market positioning [1]. Group 2: Market Dynamics - The recent softening of rates aligns with seasonal trends, suggesting a temporary fluctuation rather than a long-term decline [1]. - OPEC+ decisions are influencing market conditions, which could impact the operational environment for companies like Okeanis [1]. Group 3: Investment Strategy - The investment strategy focuses on cyclical industries while maintaining a diversified portfolio that includes bonds, commodities, and forex [1]. - The importance of balancing risk is emphasized, with fixed-income investments being a key component of the strategy [1].

Market Overview - Markets maintained momentum into Q3 2025, with the S&P 500 advancing 7.8%, driven by moderating inflation and rising expectations for Federal Reserve rate cuts [1] - Dividend-paying sectors showed resilience, while cyclical industries experienced strong gains [1] Sector Performance - A rotation towards cyclical and commodity-linked stocks intensified as rate expectations shifted towards easing [2] - Technology, Consumer Discretionary, and Communication Services led sector gains, while the Energy sector achieved a 6.2% gain, outperforming Real Estate, Materials, and Consumer Staples [3] Energy Sector Insights - Despite softer crude prices, strong demand for oil and gas, record U.S. LNG exports, and robust downstream margins contributed to broad-based performance, with total returns averaging mid- to high-single digits [4] - Upstream oil and gas producers saw an average gain of 5.8%, with APA Corporation leading at 34.6% due to strong production volumes and cost controls [6] - Midstream companies collectively gained 8.2%, driven by tankers like Scorpio Tankers and KNOT Offshore Partners, which saw gains over 40% [8] - The refining sector excelled, with the "Big Three" refiners generating an average return of 19.8% [10]

Company Performance - Pyxis Tankers Inc. (NASDAQ:PXSAW) experienced a significant surge in stock price, increasing by 221.875% to $0.05, potentially due to industry-specific developments [1][6] - Brand Engagement Network, Inc. (NASDAQ:BNAIW) saw its stock price rise by 183% to $0.08, likely reflecting advancements in conversational AI technology [2][6] - Epsium Enterprise Limited (NASDAQ:EPSM) witnessed a 95.05% increase in stock price to $29.41, driven by its diverse portfolio and strategic market positioning [3][6] - Actelis Networks, Inc. (NASDAQ:ASNS) had a stock price increase of 61.78% to $0.59, supported by a substantial order from a major Southern European carrier [4][6] Industry Trends - The stock movements highlight the dynamic nature of the market, where company-specific news and broader economic factors significantly impact stock prices [5]

Company Overview - The Founder, Chairman & CEO of Nordic American Tankers has purchased 150,000 shares at a price of $3.11 per share, increasing personal ownership to 5,100,000 shares [1] - The CEO's family collectively owns 10,250,000 shares, making them the largest private shareholder group in the company [1] - Nordic American Tankers has consistently paid dividends for 113 consecutive quarters since becoming publicly listed in 1995 [1] Financial Performance - The company expresses a positive outlook, indicating that prospects are good and the path is "unquestionably upwards" [1]

Group 1 - The Annual General Meeting (AGM) for Nordic American Tankers Limited (NAT) is scheduled for November 21, 2025, with a record date of September 12, 2025, for shareholders entitled to vote [1][2] - The Notice of the Meeting and Proxy Statement will be available with the Securities and Exchange Commission (SEC) on a form 6-K post-market on September 29, 2025 [2] - The communication is signed by Herbjorn Hansson, the Founder, Chairman, and CEO of Nordic American Tankers Ltd [4] Group 2 - The company includes a cautionary statement regarding forward-looking statements, as per the Private Securities Litigation Reform Act of 1995, to encourage the provision of prospective information [4][5] - Forward-looking statements are based on various assumptions, including management's examination of historical operating trends and data from third parties, but are subject to significant uncertainties [6][7] - Important factors that could cause actual results to differ from forward-looking statements include market conditions, operating expenses, regulatory changes, and geopolitical factors [7][8]

Group 1 - Non-Executive Vice Chairman Alexander Hansson purchased 100,000 shares at $3.27 per share, increasing his total holdings to 5,150,000 shares [1] - The Hansson family now owns a total of 10,100,000 shares, making them the largest private shareholder group in Nordic American Tankers Ltd [1] Group 2 - The company emphasizes the inclusion of forward-looking statements in its communications, which are protected under the Private Securities Litigation Reform Act of 1995 [2][3] - Forward-looking statements are based on various assumptions, including management's examination of historical operating trends and data from third parties [4] - The company acknowledges that these assumptions are subject to significant uncertainties and cannot guarantee the achievement of expectations or projections [4]

As filed with the Securities and Exchange Commission on September 19, 2025. Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Rubico Inc. (Exact name of Registrant as specified in its charter) Republic of the Marshall Islands (State or other jurisdiction of incorporation or organization) 4412 (Primary Standard Industrial Classification Code Number) N/A (I.R.S. Employer Identification No.) 20 Iouliou ...

Financial Data and Key Metrics Changes - The company reported a net income of $64.5 million or $1.70 per share for the first half of 2025, compared to a net income of $49 million in the same period of 2024 [23][22] - Adjusted EBITDA for the first six months of 2025 was $193.2 million, reflecting a strong operational performance despite a slight decrease in gross revenues to $390 million from $415 million in the first half of 2024 [23][19] - The net debt-to-capital ratio stood at 43.6%, with total debt net of cash at $1.4 billion [23][22] Business Line Data and Key Metrics Changes - The company secured charters increased by about 14% while spot contracts declined by about 27% in the first half of 2025 [18] - Fleet utilization increased from 91.9% in the first half of 2024 to 96.9% in the first half of 2025, indicating improved operational efficiency [19] - The fleet generated $193 million of gross revenues in Q2 2025, averaging $30,767 per vessel per day, a slight increase from the previous year [24][25] Market Data and Key Metrics Changes - The tanker market remains healthy, with energy majors continuing to approach the company for tanker charter business [10] - The company has a total fleet contracted revenue backlog of approximately $3.7 billion, equating to more than $120 per share [10][11] - The company is one of the largest transporters of energy globally, with a pro forma fleet of 82 vessels [10] Company Strategy and Development Direction - The company is focusing on renewing its fleet by selling older vessels and replacing them with new, environmentally friendly ships [4][7] - The strategy includes increasing the number of VLCCs in the fleet to fill a previously identified gap [4][10] - The company aims to maintain a competitive edge by building vessels at top shipyards and ensuring a young, modern fleet [8][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the tanker market, anticipating solid results in the near future due to increasing global demand [46][47] - The company is navigating challenges posed by sanctions and geopolitical events, which have positively affected the tanker market [8][17] - Management highlighted the importance of maintaining a strong balance sheet and cash reserves to support future growth [16][22] Other Important Information - The company has sold 17 older vessels and replaced them with 33 modern vessels, significantly increasing deadweight capacity [16] - The company is currently one of the largest owners of dual-fuel LNG-powered Aframax tankers, with six vessels in operation [17] - The company plans to announce its next dividend in November, with expectations of a healthy payout [9][35] Q&A Session Summary Question: Discussion on new build orders for VLCCs - The company decided to proceed with new builds due to the strong second-hand market and the need for environmentally friendly vessels [30] Question: Clarification on exercising options for VLCC new builds - The company has exercised the option for additional vessels and is in the process of renewing existing VLs with increased rates [33] Question: Preview of second half dividend - It is too early to provide specifics, but the company is looking at a healthy market for potential dividends [35] Question: Comments on potential restructuring - The company is not restructuring but is exploring ways to enhance shareholder value [37] Question: Direction of OpEx and G&A for the second half - The company aims to maintain operating expenses under control despite inflation pressures [40]

Financial Data and Key Metrics Changes - The company reported a net income of $64.5 million or $1.70 per share for the first half of 2025, compared to a net income of $49 million in the same period of 2024 [23][22] - Adjusted EBITDA for the first six months of 2025 was $193.2 million, reflecting a strong operational performance [23] - The total fleet contracted revenue backlog is approximately $3.7 billion, equating to more than $120 per share [10] Business Line Data and Key Metrics Changes - The company secured charters increased by about 14% while spot contracts declined by about 27% in the first half of 2025 [18] - Fleet utilization increased from 91.9% in the first half of 2024 to 96.9% in the first half of 2025 [19] - The fleet generated $390 million of gross revenues during the first half of 2025, averaging $30,754 per ship per day [19] Market Data and Key Metrics Changes - The tanker market remains healthy, with energy majors continuing to approach the company for tanker charter business [10] - The company has a pro forma fleet of 82 vessels, indicating growth and resilience in the face of market challenges [10] Company Strategy and Development Direction - The company is focusing on renewing its fleet by selling older vessels and replacing them with new, environmentally friendly ships [4][7] - The strategy includes increasing the number of VLCCs in the fleet to fill a previously identified gap [4][12] - The company aims to maintain a competitive edge by building vessels at top shipyards and ensuring a young, modern fleet [8][11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the tanker market, anticipating solid results in the near future due to increasing global demand [46][47] - The company is navigating challenges such as sanctions and geopolitical events, which have positively affected the tanker market [17] - Management highlighted the importance of maintaining a strong balance sheet and cash reserves to support future growth [16] Other Important Information - The company has sold 17 older vessels and replaced them with 33 modern vessels, significantly increasing deadweight capacity [16] - The company is one of the largest owners of dual-fuel LNG-powered Aframax tankers, indicating a commitment to greener operations [17] Q&A Session Summary Question: Can you talk about the new build orders for the VLCCs? - The company is building new vessels in Korea and Japan, focusing on environmentally friendly designs and maintaining competitive operating expenses [30][31] Question: Have you exercised the option for the VLCC new builds? - Yes, the company has opted for the option and is in the process of renewing existing VLs with increased base rates and profit-sharing arrangements [33] Question: Can you preview the second half dividend? - It is early to provide specifics, but the company expects to declare a healthy dividend based on market conditions [35] Question: Any progress on restructuring the company? - The company is not restructuring but is exploring ways to enhance shareholder value and improve market perception [37][38] Question: Direction of OpEx and G&A over the second half of the year? - The company is focused on maintaining operational efficiency and controlling expenses despite inflationary pressures [40]