Standard Supply AS — Earnings Release 2023

Nov 7, 2023

Standard Supply AS: Commercial update for October 2023

Standard Supply AS: Commercial update for October 2023

Oslo, Norway, November 7th 2023

In October 2023, Standard Supply AS (Standard Supply) achieved time charter equivalent earnings (TCE) of approximately USD 15,400 per day, with a utilization rate of 96%.

Martin Nes, Chairman of the Board of Standard Supply, commented, “With the UK spot market currently generating between USD 30-40,000 per day, there’s a solid foundation for upcoming time charter negotiations. Our fleet is well-positioned to capitalize on this opportunity, as four out of seven vessels are slated to be available for new charters in the upcoming months”.

He further noted, “We anticipate six more vessels departing the North Sea by year-end, including three of which are bound for Mexico. This means around fifteen vessels will have exited the North Sea in 2023 alone, accounting for nearly 9% of the North Sea fleet. Given the reduced competition in new tenders, our strategic goal is to secure several time-charters in the near future, thereby enhancing our dividend potential”.

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 seven platform supply vessels (PSVs); three large-sized and four medium-sized PSVs with 51% ownership interest. Standard Supply has a clear ambition of returning excess cash to its shareholders.