Standard Supply AS — Earnings Release 2022

Oct 7, 2022

Standard Supply AS: Commercial update for September 2022

Standard Supply AS: Commercial update for September 2022

Oslo, Norway, October 7th 2022

In September 2022, Standard Supply AS (Standard Supply) achieved a utilization of 96% and effective time charter equivalent earnings of approximately USD 15,700 per day. The Company’s operating cash breakeven is around USD 7,300 per day. The financial results for the third quarter of 2022 will be reported on November 15th.

Presently Standard Supply has four PSVs trading in the UK market, two in the Mediterranean and one on a windfarm project off Germany. The UK spot market presently has rates around GBP 8-10,000 per day. We will take delivery of the large-sized PSV Standard Defender on or around October 10th, while the reactivation of the mid-sized PSV Standard Duke is expected completed also in October.

ENDS

For further information, please contact:

Chairman of the Board Martin Nes at +47 92 01 48 14

About Standard Supply:

Standard Supply owns a fleet of nine (9) Platform Supply Vessels (PSVs); three large-sized incl. one delivering in October, one medium-sized commencing operations in October and five (5) 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.

https://standard-supply.com/