AI OKTO’s First-Half Income Rose as Vessel Revenue Fell

AI OKTO Corp.’s LPG carrier operations generated $187,798 in net income during the first half of 2026, up from $70,734 a year earlier, even as vessel revenue and operating cash flow declined. The results cover the six months ended June 30.

Total vessel revenue was $4,205,437, down from $7,528,174 in the year-earlier period. Available vessel days fell to 362 from 678. The September 2025 sales of LPG Dream Syrax and LPG Dream Terrax largely drove the reduction in vessel revenue.

The average daily time-charter-equivalent rate, a non-GAAP measure, rose to $11,036 from $10,572. Net cash provided by operating activities declined to $981,393 from $2,301,846. The operating loss narrowed to $22,458 from $197,540.

The unaudited figures are combined carve-out results for the predecessor LPG carrier businesses. Expenses allocated by Toro may not include all costs AI OKTO would have incurred as an independent company.

AI OKTO received two LPG carriers and $45 million in cash when Toro completed the spin-off on Oct. 8. AI OKTO shares began trading on Nasdaq under the ticker AIOK on Oct. 9.