Nordic American Tankers Ltd (NYSE

NAT) - Tanker market up further. Good prospects for dividend payments.

Bermuda November 14, 2018

Dear Shareholders,

The rates for our suezmax tankers have strengthened substantially recently. Now the spot market for our ships has gone up further.

As provided by the Fearnleys suezmax reports, average TCE earnings for the three first quarters of 2018 were $6,000/day- on average.

The daily rates for five typical suezmax routes were yesterday, November 13, 2018:

West Africa / US gulf	$28,300
West Africa / United Kingdom / Continent	$29,100
Black Sea / United Kingdom / Continent	$58,200
Cross / Mediterranean	$53,400
Mediterranean / US gulf	$35,800

We have not seen such high suezmax rates for many years.

The higher the suezmax tanker rates are, the better the ability of NAT to pay dividend - a key policy element of NAT.

Spot market earnings are volatile. Volatility is often a sign of an improved underlying market balance.  

We shall continue to report precisely and meaningfully.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Matters discussed in this press release may constitute forward-looking statements.  The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intend," "estimate," "forecast," "project," "plan," "potential," "will," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties.  Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.  We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.