Thursday, July 23, 2026
To our shareholders and other friends,
The market for our ships is exceptionally good, and we believe it will continue at least for a year or two.
We have seen geopolitical affairs in the past, but the magnitude of present events related to the global energy picture is unprecedented.
As always there are so-called "experts" and analysts, making a living from out of having opinions about what is going to happen next. Many of them have been wrong for some time, and some of them have been wrong all the time. These experts don't own ships and they don't trade oil. We, in Nordic American, put our money where our mouth is.
Important points for Nordic American Tankers now:
1) There is a scarcity of ships and rates for our one-million-barrel suezmaxes stay very high. We expect this to continue at least for a year or two.
2) The situation for NAT is the same whether the Hormuz Strait is open or not.
3) Three NAT ships were trapped in the Arabian Gulf since February 28, 2026.
4) We succeeded in getting the three ships from out of the Arabian Gulf and they are now trading worldwide.
5) One of our ships encountered attacks in the Black Sea a few days ago. Fortunately, the crew was safe and the ship only suffered minor damage. The vessel is now out of the Black Sea area.
6) There is no insurance issues of importance related to our unwilling stay in the Arabian Gulf or the Black Sea. We do not trade our ships in the Red Sea.
7) Over the last five years our ships have loaded/discharged in 68 countries.
8) More than 50% of the NAT business is with the largest oil companies in the world. Our experience with Major Oil is excellent.
9) The biggest room in the world is the room for improvement.
All the best!
For further information on Nordic American Tankers. Please see our web page www.nat.bm
Sincerely,
Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd. www.nat.bm
Contacts:
Bjørn Giæver, CFO
Nordic American Tankers Ltd
Tel: +1 888 755 8391
Alexander Kihle, Finance Manager
Nordic American Tankers Ltd
Tel: +47 91 724 171
