ADS Crude Carriers Plc was established during 2018 with our aim to become a preferred provider of competitive tanker vessel services to quality charterers by offering a fleet with high technical standards, compliant with new environmental regulations and with a strong market presence. The Company’s business is to own, charter and operate tanker vessels, and we intend to return all surplus cash we generate to shareholders by way of a quarterly dividend.
The Company’s fleet currently consists of three Very Large Crude Carriers (VLCCs). Our vessels were all built at a first class Japanese yard and are “sister vessels,” enabling high operating efficiency. The vessels were purchased at the bottom of the cycle to enable a low entry point and reduce downside risk to the Company’s investment and further acquisitions will be considered in the event they are accretive for existing shareholders.
At ADS Crude Carriers, we believe that new maritime regulations – in particular the IMO 2020 Sulphur Cap regulations – will have a significant impact on the maritime industry and will favor the companies that are equipped to meet these regulations.
Our focus is on tanker vessels that comply with new environmental regulations, with installation of scrubbers as a key feature.
ADS Crude Carriers is managed by well-established shipping investor and manager Arendals Dampskibsselskab AS, while the vessels are commercially managed by world leading tanker owner and operator Frontline Ltd. The vessels are under technical management of OSM Maritime Group.
ADS Crude Carriers Plc (“ADS” or the “Company”) announces that its vessel ADS Serenade has successfully completed her scheduled intermediate survey and retrofitting of scrubber system and has now commenced on her first spot charter voyage following the upgrade. ADS Serenade is currently in transit to the Middle Eastern Gulf for loading, with subsequent unloading planned for Eastern China.
ADS Crude Carriers Plc announces that Chief Financial Officer, Ben Boiling, will today present at Pareto Securities’ 26th Annual Oil and Offshore Conference in Oslo, Norway. Please find a copy of the presentation attached.
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 2019 earnings, previously announced on 22 August 2019. The shares will be traded ex-dividend of USD 0.02 (NOK 0.19) as from tomorrow.