Third quarter results 2021

Total revenues of USD 7.32m

- Spot pool revenues of USD 1.11m

- Time charter revenues of USD 6.21m

Total operating expenses of USD 8.78m

- Vessel opex incl. insurance of USD 2.33m

- Voyage exp. and commissions of USD 0.60

- G&A expenses of 0.32m

- USD 0.31m administrative expenses

- USD 0.1m legal expenses

Net currency loss of USD 1.1m

EBITDA of USD 4.07m

Net loss of USD 1.71m

Average daily earnings of USD 21,000

- Avg. daily spot earnings of USD 12,1001

- Avg. daily time charter earnings of USD 24,150

Opex incl. insurance of USD 6,340 per day per vessel

368 available earnings days and 368 opex days

- 2 pool spot days- 258 time charter days

- 18 repositioning days

Current pro forma cash flow breakeven of approx. USD 21,500 per day


Erik A.S. Frydendal, CEO,, Ph.: +47 957 72 947

Lars M. Brynildsrud, CFO,, Ph.: +47 932 60 882

This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act