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New contracts for tanker company

Bermuda-based Nordic American Tankers Ltd has concluded a contract for one of its Suezmax crude oil tankers.

The international tanker company said the contract comes just over five weeks after the conclusion of another contract for a Suezmax ship that will be a duration of a minimum six months, or slightly longer.

Writing to “shareholders and investors and other contacts”, Herbjorn Hansson, founder, chairman and CEO of NAT, said the new contract is “almost identical” with the earlier agreement.

Mr Hansson said: “The contract rate is around $17,000 (per day). The customer is one of the largest oil companies in the world. The operating costs for our ships are about $8,000 per day per ship.”

He added: “The rate levels concluded in the last two contracts are significantly higher than market reports for the spot market suggest.

“We also take this last transaction as a vote of confidence for the quality of the NAT fleet. It is a promising signal for the market going forward.

“Rates for our Suezmax ships may change very quickly. NAT has 25 Suezmax vessels, including two newbuildings, to be delivered in 2022.

“NAT is on an expansionary path going forward.”

Nordic American Tankers: concludes a contract for one of its Suezmax vessels (File photograph)

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Published August 27, 2021 at 11:47 am (Updated August 27, 2021 at 11:47 am)

New contracts for tanker company

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