STST: Stainless Tankers ASA announces the divestment of two chemical tankers

19 Dec 2024 09:30 CET

STST: Stainless Tankers ASA announces the divestment of two chemical tankers

December 19, 2024 – Stainless Tankers ASA (the “Company”, ticker: “STST”) is
pleased to announce that it has entered into agreements for the sale of two 2005
built J19 stainless steel chemical tankers, Marmotas and Monax, respectively,
for a total gross amount of $31.2 million (the “Disposals“). The Disposals are
structured as forward sales, with the vessels intended to be delivered to their
respective buyer in February and April 2025, respectively. This allows the
Company to benefit from the vessel earnings until delivery takes place.
Following the Disposals, the Company’s fleet will comprise seven J19 stainless
steel chemical tankers.

Whilst it is the intention of the Board to return surplus capital to
shareholders, the final amount and the method of return will be determined by
the Board prior to the last vessel being delivered to its buyer.

Contact:
Andrew Hampson, CEO: andrew.hampson@tufton.com
Irene Michael, CFO: irene.michael@tufton.com

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) Article 7 and is subject to the disclosure
requirements pursuant to section 5-12 the Norwegian Securities Trading Act. This
stock exchange announcement was published by Richard Taylor, company secretary
of Stainless Tankers ASA, on December 19, 2024 at 09:30 CET on behalf of the
Stainless Tankers ASA.

About Stainless Tankers:
Stainless Tankers ASA (ticker code “STST”) is a shipping company specialized in
providing seaborne transportation of chemical cargoes worldwide. The Company
provides investors with pure-play stainless steel chemical tanker exposure in an
investor friendly structure through its fleet of nine stainless steel vessels,
each with an approximate total carrying capacity of 20,000dwt. The fleet is
managed by Tufton, with a primary focus on maximizing earnings and distributing
excess operating cashflows to shareholders. For more information, please visit
www.stainlesstankers.com.

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