ADSC - ME (Merkur)

[TekBot]

ADS APPOINTS MARIUS HALVORSEN AS CHIEF COMMERCIAL OFFICER

11 June 2020

Marius Halvorsen has joined Arendals Dampskibsselskab AS (“ADS”) as Chief Commercial Officer. ADS is the manager of ADS Crude Carriers Plc, and in addition has investments in shuttle tankers and dry bulk carriers. Prior to joining ADS Marius worked as CEO of Fearnley Securities in Oslo, previous to which he spent 15 years working in New York, predominantly in top management positions in finance and investment banking.
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Terje Bodin Larsen, CEO of ADS said: “We are extremely happy to welcome Marius onboard. He has high calibre shipping and finance experience and will be a key contributor in our drive for growth, both in relation to ADS Crude Carriers Plc and ADS.” Marius Halvorsen said: “I am very excited to join such a competent team. The company is perfectly positioned for expansion, has a great track record, as well as excellent commercial and technical operations.”

Contact:

Terje Bodin Larsen CEO
tbl@ads.no
+4790535543

Kilde

[Hild]

Wow!!

[havana12]

Hæ??? Wow. Ekstremt faktisk.

[TekBot]

ADS Crude Carriers second quarter 2020

ADS Crude Carriers Plc (“ADS Crude Carriers” or the “Company”) announces the release of its second quarter 2020 report.

28 August 2020
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HEADLINES Q2 2020:

• Net revenue of USD 16.52 million for the quarter on average TCE¹ of USD 64,270 per day

• Net profit USD 8.60 million, of which USD 7.75 million to be distributed in cash during Q3 2020 as follows:

  o	USD 4.25 million dividend to shareholders, or USD 0.18 per share

  o	USD 3.50 million loan amortization in accordance with the Dividend Amortization clause (including USD 0.75 million repaid under the Cash Sweep clause)  

• Backlog estimated for around 70% of vessel days in Q3 2020 booked at an average TCE per day of approximately USD 45,000

Chairman of the Board of Directors, Bjørn Tore Larsen, commented:

“ADS Crude Carriers Plc recorded another strong set of numbers, achieving an average time charter equivalent of USD 64,270 per day and a net profit of USD 8.61 million for the second quarter. Yet again we deliver on our commitment to return a high proportion of earnings and declare a total distribution of USD 7.75 million, meaning this is the second consecutive quarter for which we have distributed over 90% of net profits. Under the terms of the vessel loan, a total amount of USD 3.50 million is required to prepay debt and the remaining USD 4.25 will be paid to shareholders as a dividend, equivalent to USD 0.18 per share.

“During the third quarter the tanker market has come down from the highs seen during the first half of the year, ahead of the historically seasonally strong winter season. We currently have secured backlog for around 70% of available vessel days in Q3 at an estimated TCE of approximately USD 45,000.

”We remain long-term positive and committed to the tanker market beyond the economic lives of our existing fleet. We will pursue investment opportunities in the tanker sector as we continue our focus on cashflow, dividends and operational excellence.”

Contacts
Terje Bodin Larsen, CEO
+47 905 35 543
tbl@ads.no

Ben Boiling, CFO
+47 912 40 945
ben.boiling@ads.no

About ADS Crude Carriers
ADS Crude Carriers Plc is a public limited company listed on the Merkur Market at the Oslo Stock Exchange (ticker ADSC-ME). The Company is incorporated and domiciled in Cyprus and has Norwegian subsidiaries based in Arendal, Norway. The principal activities of the Company are operating tanker vessels in the global tanker market. The Company currently owns and operates a fleet of three VLCCs: ADS Page, ADS Stratus and ADS Serenade.
For more information, visit www.adscrude.com

Forward looking statements
The information included herein may contain forward looking statements. Forward looking statements include all statements that are not historical facts, including but not limited to statements expressing or implying the Company’s intent, belief or current expectations with respect to, among other things, forecasts, estimates, and predictions. Such forward looking statements necessarily involve risks and uncertainties and are dependent on assumptions, information, data or methods that may be incorrect or imprecise. Actual results could differ materially from expectations expressed in the forward-looking statements if one or more of the underlying assumptions or expectations proves to be inaccurate or is unrealized. Actual results may differ materially from those expected or projected in the forward-looking statements. The Company undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

Kilde

[Xeres]

Greit utbytte med 0,18 USD per aksje. Mest interessant her er kanskje statement om at de nå sier de er positive til tank på lengre sikt og ønsker å forlenge drift forbi livsløpet til nåværende flåte og ser etter investeringsmuligheter. Planen her var jo avvikling i 2022, men mulig de føler de får med seg for lite av den neste sykelen for tank hvis det er utløpsdato i 2022?

[stianv]

Utbyttemaksinen ADS har snart delt ut en fjerdedel av børsverdien - på seks...

Kursen har gått mye ned siden sist utbytte, så spent på hvor mye den øker fremover…

[Xeres]

Kommer nok veldig an på hvor lenge ratene holder seg lave. Etter å ha ligget på rundt 9k USD i det siste, har de kommet opp på 11k USD nå. Ser flere venter høyere oljepris på 6-12mnd sikt så mulig vi kan få en ny contango-boost i tank.

[TekBot]

Key information regarding the cash dividend declared in relation to Q2 2020

31 August 2020

Today is the last day of trading for which shares in ADS Crude Carriers Plc include the right to receive the forthcoming dividend in relation to Q2 2020 earnings, previously announced on 28 August 2020. The shares will be traded ex-dividend of the NOK equivalent of USD 0.18 per share (NOK 1.60 per share) as from tomorrow.
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• Amount: USD 0.18 per share (NOK 1.60 per share)
• Currency: NOK
• Date of approval: 27 August 2020, in a resolution by the Board of Directors
• Last day including right: 31 August 2020
• Ex-div date: 1 September 2020
• Record date: 2 September 2020
• Payment date: on or about 11 September 2020

Contact
Ben Boiling, CFO
+47 912 40 945
ben.boiling@ads.no

Kilde

[TekBot]

Ex utbytte USD 0,18 i dag

Aksjene i ADS Crude Carriers Plc noteres ex utbytte USD 0,18 fra og med i dag, 01.09.2020.
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Kilde

[Inveliten]

Har snust litt på denne en stund, og synes aksjen virker veldig billig nå. Hvordan er utsiktene til lønnsomhet basert på dagens rater? Hvor mye kan de falle før det blir ulønnsomt?

[zappa66]

Dagens rater ligger på under 10K for kurant tonnasje. Gamle båter som ADSC eier får gjerne dårligere betalt enn dette igjen.
Men selskapet har sikret 70% av kapasiteten i Q3 til ca 45 K

[Inveliten]

Dagens rater ligger på under 10K for kurant tonnasje. Gamle båter som ADSC eier får gjerne dårligere betalt enn dette igjen.

OK, og noen nevnte over at break even for ADSC er på ca 13k, stemmer det?

[zappa66]

Ligger vel mer rundt 15K

Du finner det her:
https://www.adscrude.com/ads-crude-carriers-plc/investor-presentations/

[Hoven]

Break even for ADSC er estimert til 12,9 k usd.

[Inveliten]

Takk for svar. Er det noen plass jeg enkelt kan se graf over utviklingen til slike dagrater?

[roblar]

Følg Joakim Hannisdal på twitter

[Xeres]

sitter med en del ADS og får juling om dagen, men tittet litt på caset igjen i dag og tror jeg vil ha mer (alt under er sånn back of envelope-type tall). Marketcap er ca 35 USDmn, rentebærende gjeld er på 30 USDmn, per rapport 2Q2020 er skipene verdsatt til 70 USDmm + andre aktiva på ~30 USDmn. Forenklet har man da aktiva på 100 - gjeld på 30 = netto verdi på 70 USD mot market cap på 35…i sin tid brukte jeg stålverdi ved skraping på 50 USDmn, da ville netto verdi vært
50 USDmn. Selskapet vil jo ikke drifte med tap spesielt lenge - så da tenker jeg at selv i et marked der ratene forblir under ADS sin svært lave breakeven, så kommer de ut med betydelige positive verdier som kan utbetales som utbytte. Legg også til at 70% av Q3 er booka på 45k USD per dag, og tross crappy rater nå, så er vi på vei inn i høysesong for tank (som om ikke annet burde indikere noe bedre rater enn nåværende). Er det noe jeg fullstendig driter meg ut på her? Har stålverdier totalkollapset?

[TekBot]

Sale of ADS Stratus

9 September 2020

ADS Crude Carriers Plc (“ADS” or the “Company”) has entered into a memorandum of agreement to sell the vessel ADS Stratus for a price of USD 25.5 million. The vessel will be delivered to the new owners on or around 17 September 2020 following completion of her current spot charter.
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Contacts
Terje Bodin Larsen, CEO
+47 905 35 543
tbl@ads.no

Ben Boiling, CFO
+47 912 40 945
ben.boiling@ads.no

Kilde

[zappa66]

Bare 6-7 mill USD igjen i gjeld om de velger å betale med hele salgssummen

[strongbuy]

selskapet verdt 26-27 kr om de avvikler å betaler ut alt som utbytte. 10 kr opp dit.