Nordic American Tankers wins three-year charter for newbuild Suezmax

|By:, SA News Editor

Nordic American Tanker (NAT +4.8%) moves higher after securing a three-year time charter contract from Equinor (EQNR +0.1%) for one of its three Samsung Suezmax newbuildings due for delivery in August.

NAT expects the three-year contract to begin this fall at a base $21K dayrate and includes two extensions option periods that could extend the total term through to 2023.

"Going forward, we sense an upward trend for the tanker industry as there is a clear expectation for improvement." NAT says.

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