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- Standard Supply AS: Commercial Update For December 2022
Standard Supply AS: Commercial update for December 2022
10 Jan 2023 07:45 CET
Issuer
Standard Supply AS
Oslo, Norway, January 10th 2023
In December 2022, Standard Supply AS (Standard Supply) achieved a utilization of
73% and effective time charter equivalent earnings of approximately USD 10,200
per day. The Company’s operating cash breakeven is around USD 7,300 per day.
Presently Standard Supply has eight PSVs trading in the UK market and one in
West Africa. Four vessels are on term business at an average rate of c. USD
15,000 per day. Although the current spot market is yielding earnings around
operating costs, term rates has continued to improve with mid-sized vessels now
offered in the mid- to high teens while rates for larger tonnage starts in the
low twenties according to Clarksons.
ENDS
For further information, please contact:
CEO Espen L. Fjermestad at +47 95 20 44 93
Chairman of the Board Martin Nes at +47 92 01 48 14
About Standard Supply | standard-supply.com
Standard Supply owns a fleet of nine platform supply vessels (PSVs); three
large-sized, one medium-sized and five medium-sized PSVs with 51% ownership
interest. Standard Supply will actively seek further growth opportunities and is
well positioned to capture improvements in the market with most of the fleet
trading in the spot market. The company has a clear ambition to return excess
cash to its shareholders.
More information:
Access the news on Oslo Bors NewsWeb site
Source
Standard Supply AS
Provider
Oslo Børs Newspoint
Company Name
STANDARD SUPPLY AS
ISIN
NO0012547308
Symbol
STSU
Market
Euronext Growth