ADS Crude Carriers Plc (“ADS” or the “Company”) is pleased to announce that it has entered into a time charter agreement for ADS Page at a day rate of USD 69,000 with a duration expected to be around six-months (the “TC”). The TC will commence following completion of ADS Page’s current spot voyage, which is expected to be the beginning of April. Following the TC agreement, the Company has filled approximately 500 vessel days in 2020, or about 45% of total available vessel days, at an estimated average TCE of USD 72,000 per day, which includes voyages already completed in the year as well as secured future charters. The Company will release its audited Annual Report for 2019 on 3 April 2020 and its unaudited results for Q1 2020 on 28 May 2020.
Contacts
Terje Bodin Larsen, CEO
+47 905 35 543
tbl@ads.no
Dagfinn Andersen, CFO
+47 922 91 001
dagfinn.andersen@ads.no
Forward looking statements
The information included herein may contain forward looking statements. Forward looking statements include all statements that are not historical facts, including but not limited to statements expressing or implying the Company’s intent, belief or current expectations with respect to, among other things, forecasts, estimates, and predictions. Such forward looking statements necessarily involve risks and uncertainties and are dependent on assumptions, information, data or methods that may be incorrect or imprecise. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealized. Actual results may differ materially from those expected or projected in the forward-looking statements. The Company undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.