Longer Travel Distances Boosting Vessel Demand News

Nordic American Tankers Limited (NAT) report significant improvement in results in the third quarter 2013 over 2Q2013. TCE earnings were about $16,500 per day versus about $8,000 per day in the preceding quarter. Earnings per share in 3Q2013 was -$0.29, compared with -$0.48 in 2Q2013 and -$0.44 in 3Q2012. NAT's reserves including the undrawn part of the credit facility and working capital stood at $303m at the end of third quarter. he previously announced ExxonMobil agreement continues to yield benefits, reducing waiting times for our vessels even though the market is oversupplied. We continue to focus on cost efficiency - both in administration and onboard our vessels. 15 vessels were vetted (inspected by clients) during 3Q2013.