About Us

History
Standard Supply was established and listed on Euronext Growth in 2022 in order to capitalize on the improving market for Platform Supply Vessels (“PSVs”).
The company is owned c. 70% by S.D. Standard ETC Plc (“SDSD”), a company with long history of cyclical asset plays.
Standard Supply has a clear strategy of returning excess cash to shareholders.

Market Outlook
There has been great efforts made to reduce capacity in the PSV market in this last downturn that have lasted for eight years.
At the low point in 2017, there were more than 100 PSVs in lay-up in Europe. Today most of these vessels have been sold for scrap or conversion.
Overall, the PSV fleet trading in the North Sea has been reduced by c. 25% throughout this period.

If we think about potential demand increase for PSV tonnage, it is typically linked to rig demand and production support.
Here are a few numbers that gets us excited about the North Sea market.

On the Norwegian Continental Shelf, there is around 90 fields producing oil and natural gas today. In 2022 alone, more than 30 new projects are anticipated to take Final Investment Decision (“FID”).
Many of these fields will require drilling campaigns. In fact, drilled wells per year could increase from around 20 wells in 2022 to a high of 70-80 wells to 2024.

It is a very similar story on the UK side, where also the matter of energy securities comes into play.
The UK has gone from being a major oil- and gas producer with 4.5mb/d of production in the late 1990s to around 1.5mb/d today, leaving the country as a major net importer of energy sources.
In terms of potential demand increase, there were around five times as many drilling rigs operating in the UK ten years ago compared to today.

Management

Espen Landmark Fjermestad

CEO

Fjermestrand holds a Master of Science from Copenhagen Business School and is the Head of Investments in Standard ETC. He has previously held the position of Head of research at Fearnley Securities and held positions at Storebrand Kapitalforvaltning.

Eldar Paulsrud

CFO

Paulsrud holds a Masters’ degrees in economy, auditing and accounting from NHH, Norwegian School of Economics and is Controller in the Ferncliff Holding Group. He has previously held the position as Senior Corporate Analyst at DNB and has also held various roles in PwC, including as Senior Manager.

Board of Directors

Martin Nes

Chairman of The Board

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In addition to his role as Chairman of the Board, Martin Nes currently serves as CEO of Ferncliff TIH AS.
He has the extensive corporate experience and is the chairman and board member of several other listed companies. Before this, Nes worked several years for the Norwegian law firm Wikborg Rein, both in their Oslo and London offices, and for the shipping law firm Evensen & Co.
Nes holds a law degree from the University of Oslo and a Master of Laws degree from the University of Southampton, England.
Nes is a Norwegian citizen and resides in Oslo, Norway.

Espen Lundaas

Director

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In addition to his role as Director of the Board, Lundaas serves as CFO of Ferncliff TIH AS.
Lundaas has broad offshore and shipping experience, both from engagement in SD Standard ETC Plc and through investments in the Ferncliff Group. He holds a Master of Business and Economics from the Norwegian School of Management with major in finance.
Lundaas is a Norwegian citizen and resides in Oslo, Norway.