There is nervousness in the stock markets. This nervousness does not impact Nordic American Tankers Ltd (NAT).

We would like to highlight three observations on the market for oil transportation:

Firstly: We are not affected by the banking crisis that we see.

Secondly: We are not affected by the fluctuations in the oil price.

Thirdly: The market for our vessels continue to be strong

When we experienced uncertainty in the banking world in 2008, the order book for new suezmax tankers the following months and years stood at about 50% of the existing fleet. At this time, the corresponding number is at a low level of 2%, the lowest we have seen for decades. The supply side of our market is protected for years to come, thereby strengthening the fundamentals.

The tonnage balance, the demand and supply of ships are in our favor. Political uncertainty is good for our business. NAT has quality ships, quality operations and not least quality customers. Major oil companies account for about 50% of the total NAT business.
Source: Nordic American Tankers Ltd