Standard Supply AS — Earnings Release 2023

Feb 10, 2023

Standard Supply AS: Commercial update for January 2023

Standard Supply AS: Commercial update for January 2023

Oslo, Norway, February 10th 2023

In January 2023, Standard Supply AS (Standard Supply) achieved time charter equivalent earnings of approximately USD 7,700 per day and utilization of 68%. In February, the Standard Viking was extended for 1-year with Shell at GBP 12,995 per day. Also in February, the Standard Duke was fixed for 130 days at GBP 13,250 per day starting later this month.

Presently Standard Supply has eight PSVs trading in the UK market and one in West Africa. Four vessels are on term business at an average rate of c. USD 15,700 per day. The North Sea spot market has been soft so far in 2023, much like the start of 2022. Internationally, recent term fixtures in West Africa, Brazil and the US Gulf are nearing all-time high levels. This has helped push up expectations in the North Sea as the incremental activity starts to reduce supply in the region.

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 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.