Atlantic Navigation Holdings (Singapore) Ltd. (SG:5UL) has released an update.
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Atlantic Navigation Holdings (Singapore) Ltd. announced reaching a record revenue of $91.0 million in 2023, driven by higher charter rates and fleet expansion, despite a slight dip in fleet utilization due to maintenance. The company is optimistic amid positive market sentiment but remains cautious of the broader economic and geopolitical climate. They are also in talks to secure a charter for a new multi-purpose PSV expected to join their fleet by mid-2024, with their overall fleet utilization rate after adjustments standing strong at 92.2%.
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