Standard Supply AS: Commercial update for February 2023

07 Mar 2023 07:00 CET

Oslo, Norway, March 7th 2023

In February 2023, Standard Supply AS (Standard Supply) achieved time charter
equivalent earnings of approximately USD 8,200 per day and utilization of 64%.
Since the last commercial update, the Company has fixed the FS Braemar for 6+6
months at c. USD 17,500 and the FS Crathes for 6+6 months at an undisclosed
rate.

“With these two last fixtures we have now fixed five of six mid-sized PSVs at an
average rate of c. USD 15,000 per day with an average duration of six months.
The firm period of approximately 2.5 vessel years represents c. USD 7.5m of
EBITDA backlog or NOK 0.4/sh” says Martin Nes, Chairman of the Board of Standard
Supply.

“We will continue to selectively take on time-charters, but at the same time
position the fleet for what we expect to be a very strong season in the North
Sea spot market. As it stands, we will have two large sized- and two to three
mid-sized vessels open for the summer season”, Nes concludes.

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.

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