(Oslo, Norway, 4 November 2022) Standard Supply AS (Standard Supply, OSE:STSU) today announces contract awards for the two platform supply vessels (PSVs) FS Kristiansand and Standard Defender of respectively GPD 12,995 and USD 18,500 per day.
“These contracts highlight the strength in the current charter market. At the public listing in June 2022, the FS Kristiansand was valued at USD 6 million, while this 1-year contract will generate more than USD 3 million in EBITDA. Moreover, the Standard Defender has secured a strong rate for the winter season and will return to the North Sea ahead of the typically stronger summer period,” says Martin Nes, Chairman of Standard Supply.
Standard Supply has been awarded a 1-year charter at GBP 12,995 per day, in direct continuation of current UK charter, for the mid-sized FS Kristiansand (2005 built). In West Africa, the newly delivered large-sized PSV Standard Defender (2019 built) will commence an approximately 140-days charter from mid-November at USD 18,500 per day
“On the back of limited yard capacity and inflationary pressures in general, we continue to see good upside in PSVs acquired with more than 50% discount to replacement cost and payback periods as short as two to three years,” Nes concludes.
ENDS
For further information, please contact:
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 commencing operations in November 2022 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.