Herbjorn Hansson-led Nordic American Tankers (NAT) expects the situation to improve very quickly for its suezmax ships after securing two contracts at significantly higher rates.

The New York-listed suezmax specialist said it has signed a contract for one of its vessels going via the Suez Canal with a planned discharge in China at a net time charter rate of approximately $17,000 per day for 40 days, which could extend to 60 days. The shipowner also recently secured a six-month deal with an undisclosed client at around the same day rate as its other tanker.

“Our rates are strongly up compared with some reports, indicating rates of $4,000 to $5,000 a day or even lower in reports produced by outside parties. Our two recent contracts are at very different levels, a strong signal for the way forward.” the company said on Monday.

Tanker players have been waiting for the OPEC+ agreement, which was officially reached on Sunday, under which OPEC+ members agreed to boost oil production by 400,000 bpd from August. The deal is seen as a positive sign for the recovery of the tanker sector.