NAT Secures Another Time Charter Deal

Bermuda-based Nordic American Tankers (NAT) has reached a time charter agreement for one of its Suezmax vessels with an oil major British Petroleum (BP).

The company informed that the deal was signed for a period of two years, adding that the contract’s “minimum rate is well above our cash break-even level with an index linked formula providing for upside potential to NAT.”

The parties did not reveal the name of the vessel in question, nor the agreed charter rate for the period.

NAT’s ship is set to start working under the contract in mid-September.

The latest charter contract come only weeks after the company reached separate time charter agreements with Shell, ExxonMobil and other major oil companies both in the West and in the East.

NAT has now five vessels on longer term contracts with major oil companies worldwide. In addition, the company has shorter contracts with other major energy companies in the East and in the West.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 1 2 3

GREENTECH IN SHIPPING GLOBAL FORUM

The mindset of sustainability and efficiency is the key to unlocking successful business…

read more >

LNG2019

LNG2019 features the largest number and highest level of LNG industry leaders.

read more >

Singapore Maritime Week (SMW) 2019

very year, SMW gathers the international maritime community for a week of flagship conferences…

read more >