As we come to the close of another year, I want to take a moment to extend my heartfelt thanks to each and every one of you for your dedication, hard work, and commitment to excellence. Whether you are on the water, in the shipyard, in an office, or working remotely from anywhere in the world, you have contributed to our continued success as a company, and for that, I am truly grateful.

2024 has been a year of significant milestones and exciting progress for Kotug. With many vessels under construction, new projects on the way and more projects on the horizon, we are positioning ourselves for an even brighter future. Your expertise, passion, and teamwork are driving our success as we continue to expand and innovate in the maritime industry. I am incredibly proud of what we have achieved together and am excited about the opportunities that lie ahead.

That being said, we also face uncertain times. The geopolitical landscape remains complex, and the global challenges we see today remind us of the importance of staying adaptable, resilient, and united. As we move forward into the new year, let us continue to support one another and stay focused on what we do best — delivering maritime excellence in every aspect of our work.

Also On behalf of my family and the Board, I would like to take this opportunity to wish you all a very happy and restful holiday season. I hope you can spend time with loved ones and take time to reflect and recharge for the exciting year ahead. Together, we will navigate the challenges and seize the opportunities that come our way.

Thank you again for your dedication and hard work. Here’s to a successful, safe, and prosperous 2025!

Warm regards,