Stainless Tankers ASA announces financial results for the three months ended
December 31, 2024.

February 5, 2025 - Stainless Tankers ASA (the "Company", ticker: "STST") today
announces results for the three-month period ended December 31, 2024. 

Highlights

Net income of $3.8 million, or $0.28/share, on net revenue of $15.3 million,
compared $4.7 million and $17.2 million in the prior quarter, respectively. 

During the quarter, the Company had all nine vessels trading in the Womar pool.

Pool vessels earned an average net TCE rate of $19,014/day, lower than the prior
quarter.

During the quarter, the Company incurred 11.3 off-hire days for minor incidents.


As at December 31, 2024, the Company had $1.7 million in unrestricted cash and a
net outstanding loan balance of $74.2 million.

As at December 31, 2024, the Company's fleet had a market value of $167.9
million, reducing the LTV to 44.2%.

Fleet market value drives NAV to $103.8 million or $7.69/share (approx. NOK
87.3/share).  

The Company's Board of Directors resolved a dividend as return of paid in
capital in the amount of $3.71 million, or $0.275/share (approx. NOK 3.1/share),
following authorization by the Annual General Meeting held on May 22, 2024, with
payment on or about February 14, 2025.

On December 19, 2024, the Company announced that it has entered into agreements
for the sale of the Monax and Marmotas. The Board intends to return a portion of
the surplus capital to shareholders. The final amount and the method of return
will be determined by the Board following delivery of the last vessel to its
buyer.

Conference Call

The Company will host a conference call today at 11:00 Central European Time to
discuss its results for the quarter ended December 31, 2024. All interested
parties are invited to listen to the live conference call using the below link: 

https://event.webcasts.com/starthere.jsp?ei=1706669&tp_key=8df15f8904

Documents

The Company's unaudited consolidated financial statements for the three month
period ended December 31, 2024, and the results presentation to be used by
management during the conference call can be found as an attachment to this
announcement and on the Company's website (www.stainlesstankers.com). 
For more information, please contact: 

Andrew Hampson, CEO 
E-mail: andrew.hampson@tufton.com

Irene Michael, CFO
E-mail: irene.michael@tufton.com 

About Stainless Tankers ASA | www.stainlesstankers.com

Stainless Tankers ASA is a shipping company specialized in providing seaborne
transportation of chemical cargoes worldwide. The Company provides investors
with pure-play stainless steel chemical tanker exposure in an investor friendly
structure through its fleet of nine stainless steel vessels, each with an
approximate total carrying capacity of 20,000dwt. The fleet is managed by Tufton
Management Limited, with a primary focus on maximizing earnings and distributing
excess operating cashflow to shareholders.

About Tufton

Tufton is a leading investment manager focused on the shipping and offshore
industries, with $1.5bn+ of mandated assets under management across a number of
funds, including Tufton Assets Limited which, as at 31 December 2024, has a NAV
of $428.9m.