Dear Shareholders and Investors,

Below are the latest contracts for our suezmax ships, showing the level of the market.

The rates we experience now are far above recent quarters.

12th Aug.: Vessel fixed on subjects to US Oil Major for voyage from Mediterranean to Asia. Time Charter Equivalent (TCE) about USD 60,000 over 35 days

12th Aug.: Vessel fixed on subjects to Asian interests for voyage from AG to Singapore. Time Charter Equivalent (TCE) about USD 19,000 over 36 days

4th Aug.: Vessel fixed to Asian interests for voyage cross Mediterranean. Time Charter Equivalent (TCE) about USD 40,000 over 15 days
3rd Aug.: Vessel fixed to Asian interests for voyage from Red Sea to Asia. Time Charter Equivalent (TCE) about USD 21,500 over 45 days

28th July: Vessel fixed to Asian interests for voyage from AG to Singapore. Time Charter Equivalent (TCE) about USD 46,500 over 26 days

25th July: Vessel fixed to American interests for voyage (positioning voyage) from AG to US Gulf. Time Charter Equivalent (TCE) about USD 13,500 over 65 days

25th July: Vessel fixed to European interests for voyage from Brazil to Europe. Time Charter Equivalent (TCE) about USD 30,000 over 40 days

21st July: Vessel fixed to European interests for voyage from US Gulf to Europe. Time Charter Equivalent (TCE) about USD 55,000 over 40 days

20th July: Vessel fixed to Indian interests for voyage from AG to EC India. Time Charter Equivalent (TCE) about USD 37,000 over 20 days

15th July: Vessel fixed to Singapore interests for voyage from AG to Singapore. Time Charter Equivalent (TCE) about USD 30,000 over 32 days
Source: Nordic American Tankers Limited