Nordic American Tankers Ltd (NYSE
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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.
Lesen Sie auch
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.
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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.