Commercial update:
In
The Baltic 5TC Capesize Index averaged
The Company will have the following average rates fixed for vessels that were previously on index linked charters:
April to
July to
These vessels will continue to earn scrubber premium according to the terms of their respective existing time charter agreements.
Cash distribution:
The Board has approved a cash distribution of
Note to shareholders registered in Euronext VPS, the
Due to implementation of the Central Securities Depository Regulation (CSDR) in
Key information:
Distribution amount:
Declared currency: US$. Distributions payable to shares registered with Euronext VPS will be paid out in NOK with fixing date on
Date of approval:
Last day including right:
Ex-date:
Record date:
Payment date: On or about
Due to the implementation of CSDR in
This information is published in accordance with the requirements of the Continuing Obligations.
For further queries, please contact:
Herman Billung, Contracted CEO
Telephone +47918 31590
About
Forward Looking Statements:
This announcement includes forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements relating to the expected delivery date of our remaining newbuildings under construction and other non-historical statements. These forward-looking statements are based on current expectations or beliefs, and are subject to uncertainty and changes in circumstances. These forward-looking statements are subject to a number of risks and uncertainties, which could cause the actual results to differ materially from those indicated in such forward-looking statements. Such risks include risks relating to the delivery of our remaining newbuild vessels including the timing thereof and other risks, including those set forth under "Item 3. Key Information -- D. Risk Factors" in our Annual Report on Form 20-F filed with the
Appendix A - Reconciliation of Non-
Time Charter Equivalent ('TCE") Earnings, gross
The following table sets forth a reconciliation of time charter revenues to the average TCE earnings, gross (unaudited) for the period presented:
(In millions of |
For the one-month period ended | |
Time charter revenues | $ | 9.2 |
Address commission | $ | 0.3 |
Operating revenues, gross | $ | 9.5 |
Fleet operational days | 279 | |
Average TCE Earnings, gross | $ | 34,300 |
[1] Average TCE earnings is a non-
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