Atlantic Navigation Holdings (Singapore) Limited provided consolidated earnings guidance for the second quarter and six months ended June 30, 2020. For the period, the Group is expected to record a loss for Second Quarter of fiscal year 2020 as well as first half of fiscal year 2020 as compared to the profits reported for the corresponding periods of the last financial year. The expected losses in second half fiscal year 2020 and first half fiscal year 2020 are mainly attributable to impairment on certain vessels which are currently not on long-term charters (the "Selected Vessels"). Although the overall utilisation of the Group's vessels is expected to be sustained at above 85% for second quarter of fiscal year 2020 supported by vessels on long-term charter contracts, the uncertainties emanating from the current adverse macro- economic environment and the ongoing COVID-19 pandemic may have an impact on the utilisation and hence near-term earnings of the Selected Vessels moving forward.