{"id":741197,"date":"2023-03-20T08:28:14","date_gmt":"2023-03-20T12:28:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/"},"modified":"2023-03-20T08:28:14","modified_gmt":"2023-03-20T12:28:14","slug":"nordic-american-tankers-ltd-nyse-nat-update-on-important-questions","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/","title":{"rendered":"Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions"},"content":{"rendered":"<div class=\"mw_release\">\n<p>\u00a0<\/p>\n<p>Monday, March 20,\u00a02023<\/p>\n<p>\u00a0<\/p>\n<p>\n        <strong>Dear Shareholders and Investors,<\/strong>\n      <\/p>\n<p>There is nervousness in the stock markets. This nervousness does not impact Nordic American Tankers Ltd (NAT). <\/p>\n<p>We would like to highlight three observations on the market for oil transportation:<\/p>\n<p>\n        <strong>Firstly: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>We are not affected by the banking crisis that we see. <\/p>\n<p>\n        <strong>Secondly:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>We are not affected by the fluctuations in the oil price. <\/p>\n<p>\n        <strong>Thirdly:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>The market for our vessels continue to be strong\u00a0<\/p>\n<p>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. <\/p>\n<p>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.\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>Sincerely,<\/p>\n<p>Herbjorn Hansson<br \/>Founder, Chairman &amp; CEO<\/p>\n<p>Nordic American Tankers Ltd.\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0\u00a0\u00a0\u00a0www.nat.bm\u00a0\u00a0<\/p>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<p align=\"center\">\n        <strong>\u00a0CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS<\/strong>\n      <\/p>\n<p>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.<\/p>\n<p>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 \u201cbelieve,\u201d \u201canticipate,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201cforecast,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201cpotential,\u201d \u201cwill,\u201d \u201cmay,\u201d \u201cshould,\u201d \u201cexpect,\u201d \u201cpending\u201d and similar expressions identify forward-looking statements.<\/p>\n<p>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\u2019s 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.<\/p>\n<p>Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC\u2019s petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with\u00a0the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.<\/p>\n<p>\u00a0<\/p>\n<p>\n        <strong>Contacts:\u00a0\u00a0<\/strong>\u00a0 \u00a0 \u00a0<\/p>\n<p>Alexander Kihle, Finance Manager<br \/>Nordic American Tankers Ltd<br \/>Tel: +47 91 724 171\u00a0 \u00a0<\/p>\n<p>Bj\u00f8rn Gi\u00e6ver, CFO\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<br \/>Nordic American Tankers Ltd\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0<br \/>Tel: +1\u00a0888\u00a0755 8391\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/p>\n<p>\u00a0 \u00a0\u00a0<\/p>\n<p>\n        <br \/>\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDc5OTA2NCM0MDE1MTIxMjAjMjA4Mzk1Mg==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/ZWYwYTdjMGUtN2I2NS00Y2YzLWI3MDQtNDY1MDUwZjIyNmE0LTEwOTU1MjM=\/tiny\/Nordic-American-Tankers-Limite.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Monday, March 20,\u00a02023 \u00a0 Dear Shareholders and Investors, 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: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 We are not affected by the banking crisis that we see. Secondly:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 We are not affected by the fluctuations in the oil price. Thirdly:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The market for our vessels continue to be strong\u00a0 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-741197","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"\u00a0 Monday, March 20,\u00a02023 \u00a0 Dear Shareholders and Investors, 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: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 We are not affected by the banking crisis that we see. Secondly:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 We are not affected by the fluctuations in the oil price. Thirdly:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The market for our vessels continue to be strong\u00a0 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 &hellip; Continue reading &quot;Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-20T12:28:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDc5OTA2NCM0MDE1MTIxMjAjMjA4Mzk1Mg==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions\",\"datePublished\":\"2023-03-20T12:28:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\\\/\"},\"wordCount\":618,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=MTAwMDc5OTA2NCM0MDE1MTIxMjAjMjA4Mzk1Mg==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\\\/\",\"name\":\"Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions - 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This nervousness does not impact Nordic American Tankers Ltd (NAT). We would like to highlight three observations on the market for oil transportation: Firstly: \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 We are not affected by the banking crisis that we see. Secondly:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 We are not affected by the fluctuations in the oil price. Thirdly:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 The market for our vessels continue to be strong\u00a0 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 &hellip; Continue reading \"Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/","og_site_name":"Market Newsdesk","article_published_time":"2023-03-20T12:28:14+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDc5OTA2NCM0MDE1MTIxMjAjMjA4Mzk1Mg==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions","datePublished":"2023-03-20T12:28:14+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/"},"wordCount":618,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMDc5OTA2NCM0MDE1MTIxMjAjMjA4Mzk1Mg==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/nordic-american-tankers-ltd-nyse-nat-update-on-important-questions\/","name":"Nordic American Tankers Ltd (NYSE: NAT) \u2013 Update on important questions - 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