NAT - Nordic American Tankers says Suezmax rates rising

Nordic American Tankers (NYSE:NAT) +2.7% pre-market after saying Tuesday it recently fixed three ships at dayrates of $40K-$55K with durations as high as 70 days. The company said it would generate more than $200M "on an annualized basis above and beyond the daily operating costs of $8K per ship," based on current rates. Nordic American said it can become debt free "in a year or two," even as "dividends have been paid for 97 consecutive quarters and will always remain a priority." Nordic American shares recently rose to YTD highs after Euronav and Frontline announced a merger that would create the world's largest oil tanker fleet.

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Nordic American Tankers says Suezmax rates rising