American Shipping Company ASA - Fourth quarter 2021 results
Lysaker, 25 February 2022, American Shipping Company ASA (“AMSC” or the “Company”) announces results for the fourth quarter ending 31 December 2021. HIGHLIGHTS · Stable Q4 financial performance with bareboat revenue of USD 22.2 million, normalized EBITDA of USD 21.9 million and adjusted net profit of USD 4.3 million · In December 2021, OSG declared its options to extend the lease term for two vessels by one year and provided notice of redelivery of three vessels in December 2022 · Backlog of secured bareboat revenue of USD 159.5 million with average weighted tenor of 1.8 years