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NAT inks time charter with BP

Nordic American Tankers (NAT) has inked another time charter with an oil major - this time BP.

The suezmax tanker owner said it had entered into a two-year time charter with BP. It described the rate of the charter as “minimum rate is well above our cash break-even level with an index linked formula providing for upside potential”.

The charter starts in mid-September.

NAT now has five vessels on charter to oil companies with contracts with Shell and ExxonMobil in addition to the latest with BP.

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