Bermuda, December 19, 2018
Recently, we distributed a message to you, commenting on the strong tanker market.
This solid situation is continuing. Shareholders often contact us, asking about the market. We have several times written to you, illustrating the good situation for our one million barrel suezmax tankers.
Over the recent past, the tanker market has been the strongest we have seen for many years. This was communicated in our message to you one month ago (November 22). Tanker market details can be found on our website www.nat.bm
Up to yesterday, December 18, our last ten contracts were concluded at solid rates - ranging from $20,000/day to about $45,000/day, depending upon routes.
Rates can be expected to go up or down - a normal feature of a well-balanced tanker market. The optimism in the tanker industry is justified. 2019 should be good. Please count on an active NAT year in 2019.
We wish you all the best for the Festive Season!
Chairman & CEO
Nordic American Tanker Shipping Ltd., press release