ADS Maritime Subscribes 20% Interest in Chartered-in Scrubber-Fitted MR

Source: www.gulfoilandgas.com 5/30/2022, Location: Europe

ADS Maritime Holding Plc (the “Company”) has subscribed for a 20% interest in a chartered-in scrubber-fitted MR (the “Vessel”) that will trade in Navig8’s MR pool (the “Pool”) for a firm period of 36 months +/- 60 days.

The Company will receive its share of the earnings from the Vessel as it trades in the Pool and will be liable to pay its share of the fixed time charter hire. The Vessel will be delivered on charter in late May 2022.

"By this T/C-in opportunity the Company is widening its exposure to the freight markets by entering into the product sector in addition to the exposure already in place towards the spot crude market through VLCC charter", said CEO Terje Bodin Larsen. “We continue to evaluate other investment opportunities in the maritime sector with a plan to build out the Company’s portfolio in the near term. This transaction will be funded with cash on hand, but we anticipate returning to the market to raise capital in support of larger projects.”


Oman >>  8/8/2022 - Maha Energy AB (publ) (“Maha” or the “Company”), through its wholly owned subsidiary Maha Energy (Oman) Ltd., has entered into an Agreement with Mafra...
United States >>  8/8/2022 - Cenovus Energy Inc. (CVE) has reached an agreement to purchase bp’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other ...

Brazil >>  8/5/2022 - Petrobras, following up on the release disclosed on 08/14/2020, informs that it has concluded today the sale of all its stakes in the onshore fields o...
Brazil >>  8/3/2022 - Petrobras, following up on the release disclosed on 01/29/2021, informs that yesterday it has finalized the sale of all its stakes in the producing fi...

South Korea >>  8/3/2022 - The MunmuBaram project off the south-east coast of South Korea is one of the biggest planned floating wind farms in the world and is set to play a sig...
United Kingdom >>  8/3/2022 - Orcadian Energy (AIM:ORCA), the low-emissions North Sea oil and gas development company, is pleased to announce that, further to the announcement of 1...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.