Ken Davidson's questions to NORDIC AMERICAN TANKERS (NAT) leadership • Q1 2023
Question
Private investor Ken Davidson sought clarification on the charter contracts for the two newest tankers, asking if they were placed on low-rate, long-term contracts with the Sultanate of Oman.
Answer
Herbjørn Hansson (Founder, Chairman and CEO) corrected the premise, confirming the two vessels are on a six-year charter with the Sultanate of Oman but clarified the rate was much higher than suggested, in the mid-$20,000s per day. He explained this was a strategic decision made at the time to ensure financial stability while fostering a strong relationship with an important partner.