Monday, April 13, 2026
Dear Shareholders and Investors,
In these chaotic times, many of you ask us about the energy markets and what consequences these may have for our business.
First, our main priority is the safety of our crew.
Second, NAT is in the business of transporting energy. We are never involved in politics. Geopolitical uncertainty normally increases demand for our services.
The market for us is strong.
As an example, we just fixed a 1-year Time Charter with a major customer at a rate of about $75,000/day. Our operating costs are less than $10,000/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% of our business.
We have ships in the AG area. This does not represent an insurance problem.
In the present, very strong market, we have adjusted our fleet by selling some of our vessels built in 2003, 2004 and 2005 at good prices. The recent transactions improve our financial flexibility and strengthen NAT.
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.
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