Standard Supply AS — Earnings Release 2023

Jun 6, 2023

Standard Supply AS: Commercial update for May 2023

Standard Supply AS: Commercial update for May 2023

Oslo, Norway, June 6th 2023

In May 2023, Standard Supply AS (Standard Supply) achieved time charter equivalent earnings (TCE) of approximately USD 14,900 per day and utilization of 94% based upon availability. During the month FS Balmoral had two weeks off-hire associated with a 5-year SPS.

“On June 1st the Standard Supplier commenced its 1-year charter at USD 23,000 per day. Our present fleet coverage extends through to November 2023 with an average daily rate of USD 17,000 per day”, states Martin Nes, Chairman of the Board of Standard Supply.

As long-term contracts are approaching unprecedented highs, our focus remains on identifying attractive deals not only in the North Sea but also on an international scale. The recent charter on the Standard Supplier showcases the strong fundamentals now playing out in the PSV market. This contract alone will increase our distribution capacity with approximately NOK 0.3 per share over the coming twelve months” states Martin Nes, Chairman of the Board of Standard Supply.

The company will provide a second quarter trading update and dividend proposal during July month.

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 has a clear ambition of returning excess cash to its shareholders.