ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers
Nordic American Tankers Limited

Nordic American Tankers Limited (NAT)

3.92
0.01
(0.26%)
Closed March 29 04:00PM
3.95
0.03
(0.77%)
After Hours: 07:43PM

Unlock more advanced trading tools

Join ADVFN today

Key stats and details

Current Price
3.95
Bid
-
Ask
-
Volume
1,859,491
3.90 Day's Range 3.96
3.26 52 Week Range 4.83
Market Cap
Previous Close
3.91
Open
3.90
Last Trade Time
Financial Volume
$ 7,314,506
VWAP
3.9336
Average Volume (3m)
3,078,838
Shares Outstanding
208,796,444
Dividend Yield
11.65%
PE Ratio
8.29
Earnings Per Share (EPS)
0.47
Revenue
391.69M
Net Profit
98.71M

About Nordic American Tankers Limited

Nordic American Tankers Ltd owns and operates double hull crude oil tankers. It is an international tanker company that owns double-hull Suezmax tankers. It operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. The company's f... Nordic American Tankers Ltd owns and operates double hull crude oil tankers. It is an international tanker company that owns double-hull Suezmax tankers. It operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. The company's fleet consists of crude oil tankers, and all of its vessels are employed in the spot market. The company has only one type of vessel - Suezmax crude oil tankers. It operates in markets that are very competitive and based mainly on supply and demand. Show more

Sector
Water Transport Svcs, Nec
Industry
Water Transport Svcs, Nec
Website
Headquarters
Hamilton, Bmu
Founded
1970
Nordic American Tankers Limited is listed in the Water Transport Svcs sector of the New York Stock Exchange with ticker NAT. The last closing price for Nordic American Tankers was $3.91. Over the last year, Nordic American Tankers shares have traded in a share price range of $ 3.26 to $ 4.83.

Nordic American Tankers currently has 208,796,444 shares outstanding. The market capitalization of Nordic American Tankers is $818.48 million. Nordic American Tankers has a price to earnings ratio (PE ratio) of 8.29.

NAT Latest News

Nordic American Tankers Ltd (NYSE: NAT) – Alexander Hansson buys more NAT shares

  Tuesday, March 12, 2024   Dear Shareholders and Investors,   Alexander Hansson, Non-Executive Vice Chairman of Nordic American Tankers Ltd (NAT) and son of Herbjorn Hansson, Founder, Chairman...

Nordic American Tankers Ltd (NYSE: NAT) – A snapshot of the present market conditions

  Thursday, March 7, 2024   Dear Shareholders and Investors,   We have recently concluded the following fixtures: Nordic Castor (2004) was fixed to a Far Eastern Major for a voyage from Arabian...

Nordic American Tankers Ltd (NYSE: NAT) – Alexander Hansson buys more NAT shares

  Monday, March 4, 2024   Dear Shareholders and Investors,   Alexander Hansson, Non-Executive Vice Chairman of Nordic American Tankers Ltd (NAT) and son of Herbjorn Hansson, the NAT Founder...

Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

  UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 6-K     REPORT OF FOREIGN PRIVATE...

Nordic American Tankers Ltd (NYSE: NAT) – Report as per December 31, 2023 – Dividend is up and solid prospects going forward

  Thursday, February 29, 2024   Dear Shareholders and Investors,   Highlights:           In 2023, the Net Voyage Revenue for Nordic American Tankers Ltd (NAT) totaled $262.2 million. This is a...

Nordic American Tankers Ltd (NYSE: NAT) – Founder, Chairman & CEO outlines the international reach of the NAT operations

  Thursday, February 15, 2024   Dear Shareholders and Investors,   We have just published an article on our web page www.nat.bm under the heading "In the News". Please visit our web page...

Nordic American Tankers Ltd (NYSE: NAT) – Greetings for the Season

  Thursday, December 14, 2023   Dear Shareholders and Investors,   As we are approaching the end of the year, we enjoy a solid market, the best we have seen for decades. The last year has once...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10.12.59740259743.854.0153.8523155263.93071363CS
4-0.16-3.892944038934.114.253.7732450434.01068355CS
12-0.58-12.80353200884.534.6453.7730788384.20154842CS
26-0.06-1.496259351624.014.833.7632503244.23590276CS
52-0.05-1.2544.833.2629293494.04791237CS
1560.195.053191489363.764.831.437467113.07140235CS
2601.9395.54455445542.0291.437977403.57618064CS

Market Movers

View all
  • Most Active
  • % Gainers
  • % Losers
SymbolPriceVol.
AVTXAvalo Therapeutics Inc
$ 22.08
(364.84%)
31.9M
NXLNexalin Technologies Inc
$ 1.50
(92.31%)
11.67M
CEROCERo Therapeutics Holdings Inc
$ 3.112
(90.92%)
24.08M
BDRXBiodexa Pharmaceuticals PLC
$ 1.6201
(88.60%)
88.37M
KYCHKeyarch Acquisition Corporation
$ 12.30
(75.58%)
196.62k
BOLDBoundless Bio Inc
 14.25
(-76.24%)
767.63k
PMECPrimech Holdings Ltd
$ 1.2999
(-66.50%)
8.28M
TNXPTonix Pharmaceuticals Holding Corporation
$ 0.1816
(-44.45%)
21.92M
GMDAGamida Cell Ltd
$ 0.036
(-39.19%)
89.18M
NBSTWNewbury Street Acquisition Corporation
$ 0.042279
(-38.28%)
1.75k
NKLANikola Corporation
$ 1.035
(13.85%)
163.84M
GMDAGamida Cell Ltd
$ 0.036
(-39.19%)
89.18M
BDRXBiodexa Pharmaceuticals PLC
$ 1.6201
(88.60%)
88.37M
MARAMarathon Digital Holdings Inc
$ 22.56
(2.22%)
86.14M
AKANAkanda Corporation
$ 0.1166
(-29.29%)
80.34M

NAT Discussion

View Posts
fung_derf fung_derf 1 month ago
I can't believe you can even ruin tanker companies! NAT was a good company before you bought in.
So, you're down about 60% here?? I guess the dividends make it about half that.
👍️0
conix conix 3 months ago
Tanker charter rates are going up because of the Red Sea hazards. NAT should benefit...as long as the Houthis do not hit one of NAT's tankers.
👍️0
Gator44 Gator44 4 months ago
Insiders buying $3.88
Crude dropping
https://tradingeconomics.com/commodities
👍️0
Gator44 Gator44 5 months ago
Anyone else sniffing around?
👍️0
Gator44 Gator44 5 months ago
Fleet increased to 20 ships now.

This purchase will increase our fleet to 20 suezmaxes.
The vessel will be included in our fleet within this quarter, entering a strong market for our ships. We expect the vessel to generate positive cashflow and be a dividend contributor from day one.

👍️0
Gator44 Gator44 8 months ago
$NAT 4.45
👍️0
Gator44 Gator44 8 months ago
$NAT. 4.07
Maybe raise div. to .25
👍️0
Gator44 Gator44 9 months ago
On 5/23/2023 NAT stated :

The seasonal slowdown seen so far in 2Q 2023 has already bottomed, at levels that in previous years would have been perceived as peak season earnings. This goes to illustrate that the scarcity of Suezmax tankers should secure a very interesting market for NAT going forward. Seasonal variations will occur, but we expect earnings to be at higher levels than in the past due to the low orderbook of new ships.
👍️ 1
Gator44 Gator44 9 months ago
NAT $3.60 next two qtrs. will be blowout earnings.
position yourself now on the dips.coming the
next few days, then it's back to $4 area till new
52 wk highs in late August.....
Aug 29-30 earnings release I'm thinking
👍️0
Gator44 Gator44 9 months ago
$NAT. $3.46.
Great buy here w/.165% divy
Coming out of slow season strong
CEO purchased at $4.04
Bookings are up for Suezmax vessels
👍️0
Gator44 Gator44 9 months ago
$NAT. $3.46.
Great buy here w/.165% divy
👍️0
Gator44 Gator44 9 months ago
$NAT open - .15 @ $3.52 div. paid
👍️0
Gator44 Gator44 9 months ago
$NAT. open ex div. down -.15
@ $3.52?
👍️0
Gator44 Gator44 10 months ago
Hansson should be buying more shares here, at $3.54 that's around
15% cheaper where he bought previously at $4.04
👍️0
Eurotradr Eurotradr 10 months ago
Nordic American Tankers Ltd (NYSE: NAT) – Report March 31, 2023 (First quarter 2023) – History in the making!
Monday, May 22, 2023

Dear Shareholders and Investors,

Highlights:


The average Time Charter Equivalent (TCE) for our spot vessels (15) during the first quarter of 2023 came in at $60,005 per day per ship. Including vessels on term contracts (4), the total average NAT TCE was $51,902 per day per ship. This is the second strongest first quarter TCE ever achieved in NAT’s 28 year history. Our operating costs are about $8,000 per day per vessel.

The net profit for 1Q 2023 landed at $46.9 million or an earnings per share (EPS) of $0.22. The previous quarter saw a net profit of $36 million and an EPS of $0.17. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) for 1Q 2023 came in with a positive $67.7 million, compared to an adjusted EBITDA of $51.1 million in 4Q 2022.

The board has decided that the dividend after the first quarter of 2023 will be 15 cents ($0.15) per share. The Dividend will be payable on July 6, 2023 to shareholders on record as of June 15, 2023.

The seasonal slowdown seen so far in 2Q 2023 has already bottomed, at levels that in previous years would have been perceived as peak season earnings. This goes to illustrate that the scarcity of Suezmax tankers should secure a very interesting market for NAT going forward. Seasonal variations will occur, but we expect earnings to be at higher levels than in the past due to the low orderbook of new ships.

65% of our spot voyage days for the second quarter of 2023 have now been booked at an average TCE of $42,111 per day per ship. Spot rates have now turned upwards, but if this level is achieved for the full second quarter, it is a second quarter level only achieved three times in the past for NAT.

On the demand side, last year was focused on Europe’s energy challenge following the Russian invasion in Ukraine. This year will see the populations in China and other nations returning to mobility and travel in a big way. We expect the re-emergence of India and the Far East after the pandemic to have a significant effect on oil markets. This should add to an already tight market for NAT.

NAT has one of the lowest debt levels among publicly listed tanker companies. Our net debt stood at $168 million equal to $8.9 million per ship at March 31, 2023.

The NAT fleet of versatile suezmax tankers offers flexibility in loading and discharging ports. Through careful voyage planning and adjustment of speed of our vessels, the NAT fleet is reducing emissions.

Financial information for the first quarter of 2023 and for other periods is included later in this report.


Sincerely,

Herbjorn Hansson
Founder, Chairman & CEO

Nordic American Tankers Ltd. www.nat.bm
👍️0
xqsme_imnew xqsme_imnew 1 year ago
apparently, you cant keep this under $4 LOL! awesome!
👍️0
xqsme_imnew xqsme_imnew 1 year ago
Absolutely Fantastic!
👍️0
RS500 RS500 1 year ago
You mean it is done with the 4's and on its way to the 5's??????

Short some more please.............
👍️0
TrendTrade2016 TrendTrade2016 1 year ago
rotflmao
👍️0
limer814 limer814 1 year ago
This stock is done, you were warned
👍️0
TrendTrade2016 TrendTrade2016 1 year ago
NAT. Break out shipping play. Monster
👍️0
Gator44 Gator44 1 year ago
Divy .15
up from .05
👍️ 1
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – Report December 31, 2022 (Fourth quarter & full year 2022) - Rates & Dividends are up
February 27 2023 - 06:00AM
GlobeNewswire Inc.

Monday, February 27, 2023

Dear Shareholders and Investors,

The 4Q 2022 Net result is more than $50 million better than the same quarter 2021. The direction of NAT is unquestionably upwards.

Highlights:

1) The average Time Charter Equivalent (TCE) for our spot vessels (15) during the fourth quarter of 2022 came in at $57,340 per day per ship. Including vessels on term contracts (4), the total average NAT TCE was $49,035 per day per ship. This was 76% up from the third quarter of 2022. Our operating costs are about $8,000 per day per vessel.

2) The net profit for 4Q 2022 more than tripled from 3Q 2022 and landed at $36 million or an Earnings per share (EPS) of $0.17. the previous quarter saw a net profit of $10.0 million and an EPS of $0.05. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) for 4Q 2022 came in with a positive $51.1 million, compared to an adjusted EBITDA of $28.4 million in 3Q 2022. The bulk of our 2022 periodic drydockings took place in the fourth quarter and as such affected our revenues negatively.

3) Strong rates have continued into first quarter this year. So far, 72% of our spot voyage days have been booked at an average TCE of $60,630 per day per ship. With the 1Q 2023 bookings, we expect the first quarter 2023 net results to further improve vis-à-vis the strong 4Q 2022.

4) The dividend for the fourth quarter of 2022 will be 15 cents ($0.15) per share compared to 5 cents in the previous quarter. The Dividend will be payable on March 28, 2023 to shareholders on record as of March 14, 2023.

5) NAT has one of the lowest debt levels among publicly listed tanker companies. Our net debt stood at $197 million equal to $10.3 million per ship at December 31, 2022. The turnaround in the market is further illustrated by our cash position that stood at $59.6 million December 31, 2022 compared to $34.7 million same time a year ago. Currently our cash position is about $90 million.

6) As we have seen in the past, political uncertainty creates demand for the transport of oil. As a consequence of Russia’s invasion of Ukraine and the West’s strong reaction, energy security is of paramount concern. Oil will have to be sourced from further away than in the past, creating longer voyages. Uncertain times also encourage hoarding among some buyers, adding to demand for oil and for the NAT tankers.

7) NAT in particular stands to benefit from the fact that the supply of Suezmax tankers will remain at historic low levels for at least the next two or three years. Only 14 new ships are currently on order, representing only 2% of the existing fleet. This is a 30 year low. Environmental regulations, increased steel and production costs, and higher interest rates make investing in new ships challenging. A small order book for new tankers has always been positive for our industry.

8) The NAT fleet of versatile suezmax tankers offers flexibility in loading and discharging ports. Through careful voyage planning and adjustment of speed of our vessels, the NAT fleet is reducing emissions.

9) Financial information for the fourth quarter of 2022 and for other periods is enclosed in the full report below.

Sincerely

Herbjørn Hansson

Founder, Chairman & CEO

Nordic American Tankers Ltd
👍️0
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – Investor Conference Call
Thursday, February 23, 2023

Dear Shareholders and Investors,

Our 4Q 2022 earnings will be released Monday February 27, 2023, before NYSE opening.

On Tuesday March 7, 2023, we will host an Investor Conference Call to give an update on the position of Nordic American Tankers Ltd.

Date: Tuesday, March 7, 2023

Time: 8 AM US Eastern Standard Time (EST) / 2 PM Central European Time (CET)

Dial-in details to be circulated later.

Sincerely,

Herbjorn Hansson
Founder, Chairman & CEO

Nordic American Tankers Ltd. www.nat.bm
👍️ 1
Gator44 Gator44 1 year ago
NAT. 10K@ $2.89
👍️0
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – Some reflections at the start of the New Year

Wednesday, January 4, 2023

Dear Shareholders & Investors,

I thought I would share with you my thoughts for what I think 2023 holds for our company.  

The last days of 2022 are a good harbinger for the future: We concluded four contracts at rate levels of about USD 40,000 to USD 50,000 per day ranging between 30 days to 50 days each.

As we have seen in the past, political uncertainty creates demand for the transport of oil. As a consequence of Russia's invasion of Ukraine and the West's strong reaction, energy security is of paramount concern. Oil will have to be sourced from further away than in the past, creating longer voyages. Uncertain times also encourages hoarding among some buyers, adding to demand for oil and for the NAT tankers.

I also see a longer-term trend, and that is the increased demand for oil, in particular from Asian economies. Over the last decades, hundreds of millions of people have been lifted out of poverty. A strong middle class has taken root and continues to grow rapidly, producing an ever-expanding appetite for oil.

Finally, NAT in particular stands to benefit from the fact that the supply of Suezmax tankers will remain at historic low levels for at least the next two or three years. Environmental regulations, increased steel and production costs, and higher interest rates make investing in new ships quite challenging. A smaller order book for new tankers has always helped our industry.

As the owner of a versatile fleet of Suezmax tankers, NAT is ideally positioned to meet the opportunities and challenges of this year and beyond.

I am highly optimistic about the future, and wish you and your families the best for 2023! 

Yours sincerely,

Herbjorn Hansson

Founder, Chairman & CEO

Nordic American Tankers Ltd
👍️0
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – Update on spot contracts

Friday, December 9, 2022

Dear Shareholders and Investors,

Below are the 5 most recent contracts for our suezmax ships, showing the level of the market. All numbers are approximations.

Vessel fixed to a major oil trader for a voyage from West Africa to the US East Coast. Time Charter Equivalent (TCE) of above $70,000/day over more than 40 days.

Vessel fixed to a Far East energy company for a voyage from Arabian Gulf to the Far East. The TCE is above USD 70,000/day over more than 30 days.

Vessel fixed to an international oil major for a voyage from South America to UK/Continent. TCE above USD 80,000/day over more than 40 days.

Vessel fixed to an international oil major for a voyage from US Gulf to UK/Continent. TCE above USD 70,000/day over more than 45 days.

Vessel fixed to a Far East major oil company for a voyage from the Arabian Gulf to the Singapore area. TCE is above USD 50,000/day over more than 30 days.

The numbers above give a picture of the current market level.

The operating costs for our ships are about USD 8,000 per day.

For contacts, please see at the end of this communication.

Sincerely,

Herbjorn Hansson
Founder Chairman & CEO
Nordic American Tankers Limited
www.nat.bm
👍️0
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – Investor Conference Call Transcript available

Tuesday, December 6, 2022

Dear Shareholders and Investors,

On Friday December 2, 2022, we held an Investor Conference Call about Nordic American Tankers Ltd.

A Transcript of the conference call is now available and can be distributed to interested parties on request.

Please send an e-mail to Liv-Heidi.Henriksen@scandicamerican.com, who will provide the transcript.

Sincerely,

Herbjorn Hansson
Founder, Chairman & CEO

Nordic American Tankers Ltd. www.nat.bm
👍️0
TrendTrade2016 TrendTrade2016 1 year ago
NAT...this shipper is ready to trend...weekly is sweet!!!
👍️ 1
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – Report September 30, 2022 (Third quarter 2022) - Good times for our Suezmax tankers. Increased dividends expected.

Wednesday, November 30, 2022

Dear Shareholders and Investors,

Please see HIGHLIGHTS and the enclosed 3Q 2022 report below.
 
Highlights: 

1) The average Time Charter Equivalent (TCE) for our fleet during the third quarter of 2022 came in at $27,850 per day per ship, up from the second quarter of $20,080 per day per vessel. Rates have risen dramatically during the fourth quarter and so far, 74% of our spot voyage days have been booked at an average TCE of $54,100 per day per ship. Our operating costs are $8,000 per day per ship.

2) The net profit for 3Q 2022 was $10.0 million or an Earnings per share (EPS) of $0.05. The second quarter saw a net loss of -$4 million and an EPS of -$0.02. Adjusted Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) for 3Q 2022 doubled from the previous quarter and came in with a positive $29.6 million, compared to an EBITDA of $14.2 million in 2Q 2022.

3) As previously announced, the dividend for the third quarter of 2022 will be 5 cents ($0.05) per share and will be payable on December 20, 2022 to shareholders on record as of December 6, 2022. Based on our fourth quarter performance so far, we anticipate the dividend for the fourth quarter could double, compared to the third quarter payout. This dividend is expected to be announced in February 2023 and paid in March 2023.

4) Political uncertainty has always stimulated demand for our ships. Given the geopolitical realities we face now, oil will have to be transported over longer distances than in the past, increasing ton-mile and demand for our tankers.

5) The orderbook for new suezmax tankers scheduled to join the global fleet currently stands at 11 ships (2% of the world suezmax fleet) through 2024. A low orderbook is a leading indicator of improved utilization and earnings for our tankers.

6) The combination of ton-mile expansion and low supply growth is bullish news for our vessels for 2023 and beyond. NAT has 19 one-million barrel suezmax tankers on the water, making money every day, Sundays and Holidays included.

7) The NAT fleet of versatile suezmax tankers offers flexibility in loading and discharging around the world that helps our clients manage their requirements efficiently under quickly changing circumstances.

8) Through careful voyage planning and adjustment of speed of our vessels, the NAT fleet is reducing emissions.

9) NAT has one of the lowest debt levels among publicly listed tanker companies. Our net debt stood at $224 million equal to $11.2 million per ship at September 30, 2022. In the solid tanker market we now see, our debt is reduced by the day. The objective of NAT is to become more or less debt free, which was the case in the past.

10) Financial information for the third quarter of 2022 and for other periods is included in the report attached below.
👍️0
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – Investor Conference Call
Monday, November 28, 2022

Dear Shareholders and Investors,

Our 3Q 2022 earnings will be released November 30, 2022, before NYSE opening.

On Friday December 2, 2022, we will host an Investor Conference Call to give an update on the position of Nordic American Tankers Ltd.

Date: Friday, December 2, 2022

Time: 8 AM US Eastern Standard Time (EST) / 2 PM Central European Time (CET)

Dial-in details are enclosed below.

Sincerely,
Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd.
👍️0
Gator44 Gator44 1 year ago
$NAT 3.44
Ready to run
👍️ 1
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – 3Q 2022 dividend announcement
Thursday, November 10, 2022

Dear Shareholders and Investors,

Our 3Q 2022 earnings will be released November 30, 2022 before NYSE opening. A guidance for the NAT performance for 4Q 2022 will also be provided in the release.

For 3Q 2022 the Board of NAT is declaring a 5 cent dividend ($0.05) per share. This reflects both favorable markets for our ships and the company's bedrock belief in dividends.

This dividend marks our 101st consecutive quarterly dividend. It will be paid Tuesday, December 20, 2022, to shareholders on record Tuesday, December 6, 2022.

As previously announced, the NAT Annual General Meeting is being held November 17, 2022 and will follow the standard procedures of previous AGMs.

The prospects are good for increased dividends going forward.

For contacts, please see at the end of this communication.

Best regards,

Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd.
👍️0
Gator44 Gator44 1 year ago
Tanker rates are strong.
Insiders are buying.

Nordic American Tankers Ltd (NYSE: NAT) - Last fixtures

Source: GlobeNewswire Inc.?

October 24, 2022

 
Last three fixtures:
Contract $ 60,000 / day - 14 days
Contract $ 64,000 / day - 37 days 
Contract $ 76,000 / day - 42 days 

Our operating costs are $8,000 per day. 

 
Best regards
Herbjorn Hansson
Founder, Chairman & CEO

 
👍️0
Gator44 Gator44 1 year ago
Bought more NAT down here at $3.15
👍️0
Gator44 Gator44 1 year ago
NAT$ 3.31 nice bounce
👍️0
Eurotradr Eurotradr 1 year ago
Nordic American Tankers Ltd (NYSE: NAT) – 2022 Annual General Meeting of Shareholders (AGM) Friday, October 7, 2022

Dear Shareholders and Investors,

In our press release of June 7, 2022, we informed you about the date of the 2022 Annual General Meeting (AGM) in Nordic American Tankers Limited (NAT). The date has been set to November 17, 2022.

Please be informed that the record date is September 26, 2022, for the determination of the NAT shareholders entitled to receive notice of and to vote at the AGM or any adjournment thereof.

The Notice of the Meeting and Proxy Statement will be available with the Securities and Exchange Commission (SEC) on a form 6-K today, October 7, 2022.

The AGM will take place in Monaco.

For contacts, please see at the end of this communication.

Best regards,

Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd.
👍️0
conix conix 1 year ago
TOP Ships Announces a 412% Increase in Net Income for the Six Months Ended June 30

September 28 2022 - 08:57AM


TOP Ships Inc. (the “Company”), an international owner and operator of modern, fuel efficient "ECO" tanker vessels, announced today its unaudited financial results for six months ended June 30, 2022.

For the six months ended June 30, 2022, the Company reported:

Total revenues of $38.8 million (53% increase from 1st half 2021)
Net Income of $8.6 million (412% increase from 1st half 2021)
Adjusted EBITDA of $26.9 million* (88% increase from 1st half 2021)
Total Assets of $475.4 million (44% increase from December 31, 2021)

Evangelos Pistiolis, the President, Chief Executive Officer and Director of the Company, said:

“We are very happy to report a dramatic year-on-year increase in net income for the six months ended June 30, 2022, which represents our highest reported net income for a six month period since 2005. Furthermore, as of June 30, 2022, our fixed revenue backlog is about $278.5 million and our charter coverage is as per below table:
Year Time Charter Coverage
2022 (remainder) 100%
2023 100%
2024 76%
2025 17%
2026+ 10%

👍️0
Gator44 Gator44 2 years ago
$3.03. TIME TO NIBBLE
👍️0
conix conix 2 years ago
Chart looks like a Double Top, Euro.
👍️0
rt145 rt145 2 years ago
Suezmax (1-million-barrel capacity) crude tankers at $45,300 per day, up 163% month on month.

https://www.freightwaves.com/news/commodity-shipping-stocks-are-trouncing-dow-transport-average#:~:text=Tanker%20spot%20rates%20have%20finally%20picked%20up%20in,were%20the%20top%20performers%2C%20earning%20%2452%2C400%20per%20day.
👍️0
Eurotradr Eurotradr 2 years ago
Nordic American Tankers Ltd (NYSE: NAT) – Report June 30, 2022 (Second quarter 2022) – an unbroken string of 100 quarters of dividend payments. Ship values and rates are up

Tuesday, August 30, 2022
Dear Shareholders and Investors,

Please see HIGHLIGHTS and the enclosed 2Q 2022 report below.
Highlights:

The average time charter equivalent (TCE) for our fleet during the second quarter of 2022 came in at $20,080 per day per ship, which is a substantial improvement compared with the first quarter of $8,870 per day per vessel. The third quarter has started at an even stronger pace. This obviously bodes well for our suezmax tankers.

As this year has shown, energy security is at the top of the global agenda. More oil is clearly needed. Given the geopolitical realities, oil will have to be transported over longer distances than in the past. This is positve for our fleet of suezmax tankers, which offer flexibility in the marketplace.

The orderbook for new suezmax tankers scheduled to join the global fleet currently stands at only 13 ships (2% of the world suezmax fleet). This is a historic low by any measure, and major shipyards have limited capacity to deliver more suezmax tankers before 2026. NAT has 20 one million barrel suezmax vessels on the water. Our fleet is in an excellent position to reap the benefits of a tight market.

Adjusted EBITDA for the second quarter improved significantly and came in with a positive $14.2 million. This compares with an EBITDA of -$7.7 million in the first quarter of the year. We recorded a net loss of -$4.0 million or an EPS of -$0.02 for the second quarter 2022 compared to the first quarter, which saw a net loss of -$27 million and an EPS of -$0.14.

Our dividend payment for the second quarter is our one hundreth quarterly payout to our shareholders. We are proud of this achievement, a record that is unmatched by any other public tanker company. In aggregate, more than $49 per share have been distributed over the years. The dividend number 100 will be 3 Cent ($ 0.03) per share and will be payable on October 12, 2022 to shareholders on record as of September 15, 2022. NAT is a dividend-driven company, and with improved earnings, higher dividends can be expected.

NAT has one of the lowest debt levels among publicly listed tanker companies. 15 of our ships are financed through a cooperation with a financial institution in Dallas, Texas, where the current gross borrowing is about USD 10 mill per ship. At the time of this report there are 20 vessels in the NAT fleet. Separate financial arrangements are in place for the other 5 vessels. The value of the NAT fleet has increased strongly in the recent past.

The first of our recent newbuildings was delivered on May 14th and our second newbuilding was delivered on June 30, 2022. Both vessels have commenced six-year time charter contracts, ensuring earnings, cashflow and financial stability.

The sale of our last 2002-built suezmax took place in July at a price of about $16 million. The proceeds from the sale were used to pay down debt.

Financial information for the second quarter of 2022 and for other periods is included in the attached report.

For contacts, please see at the end of this communication.

Sincerely,
Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Limited
👍️0
conix conix 2 years ago
Tanker Spot Rates

👍️0
Pyramid2 Pyramid2 2 years ago
21 Suezmax 1,000,000 bbl per tanker ready for delivery to Europe this winter if they want to contract what's left of the fleet, and this one pays a dividend :) glta.
👍️0
Pyramid2 Pyramid2 2 years ago
21 Suezmax => * $21,000,000 bbl * < up 10% today and pays a dividend.
👍️0
tr8dervic tr8dervic 2 years ago
This company does best when oil prices are low. Investors lock in the low rates and store it in tankers pending price increases. No need to store when spot prices are sky high. Just sell and get top $$ now...
👍️0
Pyramid2 Pyramid2 2 years ago
This company has 21 suezmax tankers on the spot market and you would think this would have a skyrocketing pps but not, however an unknown mystery company like $IMP# pps is skyrocketing?

Go figure, anyways this one also pays a dividend and should have a very strong earnings next quarter.

glta traders & investors
👍️0
Eurotradr Eurotradr 2 years ago
Nordic American Tankers Ltd (NYSE: NAT) – NEWS: The last 2002 built vessel sold
Tuesday, June 7, 2022

Dear Shareholders and Investors,

We wish to inform you that we have sold the last of our originally four 2002 built suezmax tankers, the “Nordic Moon”.

The price is about $16 million net to NAT. The vessel will be delivered to the new owners during June 2022.

We plan to take delivery of a newbuilding from Samsung Shipyard in South Korea at the end of June. It will start on a six year contract as from delivery.

The first newbuilding from Samsung in this round was delivered to us in mid - May. The vessel started on a contract for 6 years when delivered from the yard. A strong balance sheet is essential. The NAT debt is low compared with other US listed tanker companies.

NAT is in a positive phase of development as illustrated in this message.

For contacts, please see at the end of this communication.
👍️0
Eurotradr Eurotradr 2 years ago
Nordic American Tankers Ltd (NYSE: NAT) – Announces the date for its 2022 Annual General Meeting of Shareholders (AGM)
Tuesday, June 7, 2022
Dear Shareholders and Investors,
Nordic American Tankers Limited today announced that it has scheduled the 2022 AGM to be held in Monaco on
November 17, 2022 at 3 pm, Monaco time.
Further documentation, including record date and a normal agenda, will be published later.
For contacts, please see at the end of this communication.
👍️0
Eurotradr Eurotradr 2 years ago
Nordic American Tankers Ltd (NYSE: NAT) – Board Member Alexander Hansson continues to increase his holding of NAT shares

Thursday, June 2, 2022

Dear Shareholders and Investors,

Alexander Hansson, Board Member of Nordic American Tankers Ltd (NAT) and son of Herbjorn Hansson, the NAT Founder, Chairman and CEO, has today bought 115,000 shares in NAT at $ 2.08 per share.

Following this transaction, Monaco based Alexander Hansson privately owns 1,750,000 shares in NAT.

Recent purchases by him are: 250,000 shares 28th of February, 100,000 shares 23th of March and 100,000 shares 30th of March.

As in the past, the Hansson family is the largest private shareholder group in the company.

For contacts, please see at the end of this communication.

www.nat.bm
👍️0

Your Recent History

Delayed Upgrade Clock