Nordic American Tanker (NAT) Provides Update on Suezmax Vessels

Nordic American Tanker (NYSE: NAT):

We have informed you earlier that political uncertainty normally creates strong markets for our vessels. There is now a solid momentum in the market. We are currently securing spot contracts for a month or longer at rates above USD 50,000 a day. Our operating costs are about USD 8,000 per day per ship.

NAT has a large part of the fleet operating in the spot market.

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