Nordic American Tankers Ltd (NYSE: NAT) – Adjustment of the NAT fleet. Good contracts for the NAT suezmaxes

Bermuda, December 7, 2018

We refer to our message of November 22, 2018, regarding the sales of our two 1999 built tankers, the Nordic Aurora and the Nordic Sprite.  The sales are now in the process of being finalized.  The ships have been sold at a price of about USD10 million per unit.  30 % of the price was paid by the buyer today. The ships are scheduled to be delivered to the new owners later this month when the balance of the purchase price will be paid.  The contracts contain provisions related to the Hong Kong Convention (2009) for ships.