Reference is made to the stock exchange announcement dated 20 October 2025 by Bruton Limited, announcing that a letter of intent had been agreed between New Times Shipbuilding Co. Ltd. and the Company’s wholly owned subsidiary Andes Tankers III pursuant to which Andes Tankers III orders two new scrubber fitted VLCC vessels and has options for two additional VLCC vessels at the same price subject to Andes Tankers III declaring the option before 31 December 2025.
Andes Tankers III, its subsidiaries and NTS have now entered into final newbuilding contracts with respect to the Firm Vessels and option agreements with respect to the Optional Vessels.
The Firm Vessels are scheduled for deliveries between Q4 2028 and Q2 2029, whilst the Optional Vessels, if declared, are scheduled for deliveries between Q3 and Q4 2029. All vessels carry the option to be converted to LNG dual fuel ready ships.