Nordic American Tankers Ltd (NAT)

[Eurotradr]

Nordic American Tankers Ltd (NYSE: NAT) – Update on spot contracts

Friday, December 9, 2022

Dear Shareholders and Investors,

Below are the 5 most recent contracts for our suezmax ships, showing the level of the market. All numbers are approximations.

Vessel fixed to a major oil trader for a voyage from West Africa to the US East Coast. Time Charter Equivalent (TCE) of above $70,000/day over more than 40 days.

Vessel fixed to a Far East energy company for a voyage from Arabian Gulf to the Far East. The TCE is above USD 70,000/day over more than 30 days.

Vessel fixed to an international oil major for a voyage from South America to UK/Continent. TCE above USD 80,000/day over more than 40 days.

Vessel fixed to an international oil major for a voyage from US Gulf to UK/Continent. TCE above USD 70,000/day over more than 45 days.

Vessel fixed to a Far East major oil company for a voyage from the Arabian Gulf to the Singapore area. TCE is above USD 50,000/day over more than 30 days.

The numbers above give a picture of the current market level.

The operating costs for our ships are about USD 8,000 per day.

For contacts, please see at the end of this communication.

Sincerely,

Herbjorn Hansson
Founder Chairman & CEO
Nordic American Tankers Limited
www.nat.bm