Nordic American Tankers Ltd (NYSE: NAT) – the Direction is Up

I am very pleased to inform you that the market conditions for our vessels continue to be exceptionally solid. We expect this development to continue.

We have previously informed you about the high freight rates that we enjoy.

This unprecedented development continues. The closing or opening of the Strait of Hormuz does not impact the NAT operations in any way. The essential measure for NAT, is ton-mile, i.e., transportation work. The NAT ships are needed.

Lower and decreasing price of oil, is an advantage for NAT. The lower the price, the better.

The main question is the safe transportation of oil, and the demand for our ships is critical. How much oil do NAT carry and over how long distances?

NAT has a strong relationship with the largest oil companies in the world. This is  essential for our success. They have confidence in us, our crews and in the quality of our vessels.

For further information on Nordic American Tankers, please see our web page www.nat.bm

Sincerely,

Herbjorn Hansson
Founder, Chairman & CEO

Nordic American Tankers Ltd.                                                        www.nat.bm

Contacts: 

Bjørn Giæver, CFO                                                             
Nordic American Tankers Ltd                                             
Tel: +1 888 755 8391                                  

Alexander Kihle, Finance Manager
Nordic American Tankers Ltd
Tel: +47 91 724 171