Nordic American Tankers (NAT) has announced to its shareholders and investors that the company is currently experiencing an extraordinary market for its vessels.

The company provided a snapshot of recent spot fixtures, noting that while the figures are approximate, they demonstrate significant earning potential. NAT highlighted that its operating costs per ship remain below $10,000 per day. The substantial difference between these operating costs and the reported rates translates directly into cash accumulation for the company.

Recent spot fixtures for the NAT fleet include:

• 60-day voyage to an Oil Trader, generating a rate of approximately $200,000 per day.

• 31-day voyage to an Oil Major, producing a rate of approximately $183,000 per day.

• 80-day voyage to an Oil Trader, securing a rate of approximately $98,000 per day.

• 19-day spot fixture to an Oil Major, achieving a Time Charter Equivalent (TCE) of approximately $88,000 per day.

• 65-day voyage to an Oil Major, with a TCE of approximately $70,000 per day.

• 77-day voyage to an Oil Major, with a TCE of approximately $61,000 per day.

• 64-day spot fixture to an Oil Trader, yielding a TCE of approximately $60,000 per day.

• 53-day voyage to an Oil Major, with a TCE of approximately $60,000 per day.

Acknowledging the inherent volatility and short-term variations of spot contracts, the company stated that the overall trajectory for NAT is unquestionably upwards. Further information can be found on the official Nordic American Tankers website at www.nat.bm.

Source: GlobeNewswire