American Shipping Company ASA - First quarter 2022 results
Lysaker, 19 May 2022, American Shipping Company ASA (“AMSC” or the “Company”) announces results for the first quarter ending 31 March 2022. HIGHLIGHTS · Stable Q1 financial performance with bareboat revenue of USD 21.7 million, normalized EBITDA of USD 21.7 million and adjusted net profit of USD 4.9 million · Backlog of secured bareboat revenue of USD 137.8 million with average weighted tenor of 1.6 years, excluding any additional bareboat hire from the Normand Maximus · Declared Q1 dividend of USD 0.12 per share, supported by the Company’s free cash flow · On 12[th] May,