Bermudian-based oil tanker operator Nordic American Tankers stated on Monday that it has ships in the Persian Gulf area.

Herbjorn Hansson, the company’s chief executive officer, said “our main priority is the safety of our crew”.

“We have ships in the AG area,” he added. “This does not represent an insurance problem.”

He emphasised that NAT was in the business of transporting energy and added: “We are never involved in politics. Geopolitical uncertainty normally increases demand for our services.”

With the closure of the Strait of Hormuz since the United States and Israel started their conflict with Iran on February 28, energy supplies have been disrupted.

About one fifth of the world’s oil and gas supplies from Gulf producers are normally shipped through the strait.

The shortage of oil and ships to transport it, and the need for longer voyages to steer clear of the conflict zone have created a profitable market for tanker operators.

Mr Hansson cited an example: “We just fixed a one-year Time Charter with a major customer at a rate of about $75,000 per day. Our operating costs are less than $10,000 per day.

“Our main customers are the largest energy companies in the world, including Exxon, Shell, British Petroleum, Total and Equinor. These companies lease our ships on a regular basis and account for more than 50 per cent of our business.”

Mr Hansson added: “We believe that the hostilities we see will subside and that we soon will be back to normal when business is based on trust, integrity, and a strong willingness to do well.”

NAT’s shares rose 2.1 per cent in trading after Mr Hansson’s statement on Monday to close on $5.84 on the Nasdaq Stock Exchange.