Nordic American Tankers Limited (NYSE:NAT) Financial Update and Comments on Sulphur Requirements

Hamilton, Bermuda - October 24, 2017

Financial Update
Nordic American Tankers Limited (NYSE:NAT) would like to announce that it has signed the main terms with a major international financial institution for the financing of the outstanding commitments, due on delivery, for the three Suezmax newbuildings to be delivered during the latter part of 2018. We expect the agreement to be fully executed about mid-November 2017 at which time the full financing of the newbuildings will be completed.

Comments on Sulphur Requirements
Recently, we have seen comprehensive discussions about the new sulphur requirements for bunker consumption on ships to be in effect from 2020. Our 33 Suezmax tankers are fully compliant to run on 0.10% sulphur content or less. Therefore, going forward we do not see that this new requirement is an issue for NAT.

Nordic American Tanker Shipping Ltd., press release