American Shipping Company ASA - First quarter 2021 results
Lysaker, 20 May 2021, American Shipping Company ASA (“AMSC” or the “Company”) announces results for first quarter ending 31 March 2021. HIGHLIGHTS · Stable Q1 financial performance with bareboat revenue of USD 21.7 million, normalized EBITDA of USD 21.3 million and adjusted net profit of USD 5.4 million · Backlog of secured bareboat revenue of USD 214 million with average weighted tenor of 2.4 years · Declared Q1 dividend of USD 0.10 per share, backed by the Company’s free cash flow · Subsequent to quarter-end, the Company executed a USD 20 million tap issue under the