Nordic American Tankers Ltd (NYSE: NAT) – Very strong market continues

We are pleased to inform you that the very strong market for our ships continue. We enter into contracts at historically high level, which have not been seen earlier.

Now the price of oil goes down. This in an advantage for Nordic American. The lower the oil price, the higher oil consumption. 

In the final analysis, the most important element in tanker economics is the concept of ton mile. 

The longer distance oil is being transported, the more advantageous it is for NAT.

We expect that the exeptional market conditions will continue in the time to come. We are able to continue to pay dividend and to accumulate cash in NAT. 

For further information on Nordic American Tankers, please see 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