Time charter employment secured for MT Velebit

Tankerska Next Generation Inc. has secured one year employment for the conventional ice class product tanker MT Velebit, the contracted employment is with immediate effect. The tanker will be
chartered out to a prominent charterer at approximately USD 14,500 per day with usual market terms. Additionally, the charterer has an option to extend the contract for an additional eight months at approximately USD 15,500 per day. The achieved conditions are thoroughly in line with the company's strategic concept that focuses on the efforts to secure a strong asset base and stable cash flow. By doing so, TNG minimizes the risk of its business operations by emphasizing our time charter position while balancing the remainder of the fleet on voyage charter.