ADS Maritime Holding Plc acquires stakes in two MR tankers

  • Category: Press releases

ADS Maritime Holding Plc (“ADSMH” or “the Company”) has acquired a 10 % stake in two MR tankers and will act as disponent owner with primary responsibility for following up the owning companies’ activities related to the vessels.

The vessel Swift Omaha, to be renamed “UOG Oslo”, 46.100 dwt built 2010, is expected to be delivered late October 2022 and the intention is to employ her on a 2-year TC, where discussions are underway with major charterers. The vessel UOG Sparta, 49.999 dwt built 2009, will be delivered alongside Swift Omaha. UOG Sparta will be delivered in the Pacific and traded in the spot market. The Commercial Manager is evaluating the market to find the best possible charter contracts for the ships to maximize shareholders’ value.

The acquisition is part of the Company’s strategy of opportunistic growth in shipping, including the tanker market, where the Company during 2022 has taken positions within the Shuttle, VLCC and MR segments.

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Contacts

Terje Bodin Larsen, CEO
+47 905 35 543
tbl@ads.no

Dagfinn Andersen, CFO
+47 922 91 001
dagfinn.andersen@ads.no

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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.