American Shipping Company ASA: New vessel acquisition and new long-term bareboat contract
12 May 2022 American Shipping ASA (“AMSC” or the “Company”) is pleased to announce its purchase of the offshore construction vessel Normand Maximus from Maximus Limited, a company controlled by its secured lenders (the “Transaction”). In conjunction with the Transaction AMSC will enter into a long-term bareboat agreement with a subsidiary of leading offshore services provider Solstad Offshore ASA (“Solstad”). Total purchase price for the vessel is about USD 157 million and the Company expects to take delivery in Q4 2022. AMSC intends to finance the Transaction through 70% debt and the