Oslo, Norway, May 8th 2023 

In April 2023, Standard Supply AS (Standard Supply) achieved time charter
equivalent earnings (TCE) of approximately USD 14,900 per day and utilization of
95%. 

"We currently have seven vessels operating on fixed charters, with an average
daily rate of USD 16,000. The Standard Supplier has been fixed for a 7-10-day
period at a rate of USD 27,000 per day. Meanwhile, the FS Balmoral is expected
to finish its 5-year classification next week before commencing short-term work
at a daily rate of USD 19,000" states Martin Nes, Chairman of the Board of
Standard Supply. 

"Following the FS Balmoral class renewal the Company will have limited capital
expenditures through 2024 with only one mid-sized vessel up for 5-year survey".
Our operating cash breakeven stands at around USD 7,700 per day, and we continue
to uphold our strategy of distributing most of our free cash flow to our
shareholders", Nes concludes.  

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)