Nordic American Tankers (NAT) CEO Herbjorn Hansson has warned investors that the second quarter will be worse than the first.
But, in a note to shareholders, he added that "rates are well above cash break-even."
And he added that the owner is in a solid financial position with a strong cashflow.
Hansson also revealed he has visited some of the largest oil companies in the world in recent weeks, notably in Beijing and Houston.
