Option declared for 20% interest in chartered-in VLCC

31 Mar 2023 09:07 CEST

With commencement in May 2022, ADS Maritime Holding Plc (“the Company”)
subscribed for a 20% interest in the chartered-in VLCC FPMC C Melody (the
“Vessel”) that is currently trading in Navig8’s VL8 pool for a firm period of 12
months with an option period of additional 12 months. This financial position
has turned out positively for the Company. Backed by the strong performance,
current attractive rates and a positive market outlook, the Company has
therefore declared the option to continue this position for another 12 months
until May 2024. “We think this is an attractive opportunity to continue our
exposure to a strong tanker market,” said CEO Terje Bodin Larsen.

In addition to this VLCC position, the Company also holds a 20% interest in a
chartered-in scrubber-fitted MR that is trading in Navig8’s MR pool for a firm
period until June 2025.

Contact: Anders Hall Jomaas, CFO, +47 40 04 29 18, anders.jomaas@adsmh.com

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