Nordic American Tankers (NAT)

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Nordic American Tankers Ltd (NYSE: NAT) – An active period going forward
GlobeNewswire· 2025-02-05 14:31
Wednesday, February 5, 2025 Dear Shareholders and Investors, A major project for 2025 is to renew and grow our fleet. We plan to buy two or three ships and to sell two or three. As a first step, last week we agreed to sell one of our suezmaxes, built in 2003, which will net our company USD 22.5 million and thus strengthen our balance sheet. The buyer will take over the vessel in Q1 2025. We are helped in this major project by our two longtime financing partners, Beal Bank bases in Dallas, and Ocean Yiel ...
Nordic American Tankers Ltd (NYSE: NAT) – An active period involving several transactions
GlobeNewswire· 2025-01-22 15:30
Wednesday, January 22, 2025 Dear Shareholders and Investors, In the recent past, NAT has carried through several transactions, reflecting a very active period. NAT has declared the purchase option for a 2018-built Suezmax tanker on favorable terms from a close financing partner. Furthermore, we have also sold a 2003-built vessel to a UK based owner. This sale which is expected to close in the second half of February, will produce a cash injection of USD 22.5 million. NAT is in a very solid position and ...
Nordic American Tankers Ltd (NYSE: NAT) – Founder, Chairman & CEO buys more shares in NAT
GlobeNewswire News Room· 2024-12-12 14:51
Thursday, December 12, 2024 Dear Shareholders and Investors, This is to inform you that I personally and a company owned and guaranteed by me have today bought 100,000 shares in NAT at the price of USD 2.6129 per share. Following this transaction the Hansson family owns an aggregate of 8,150,000 shares – being the largest private shareholder group in the company. My son, Monaco-based Alexander Hansson, has 3,600,000 shares in NAT. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American ...
Nordic American Tankers Ltd (NYSE: NAT) – Founder, Chairman & CEO buys more share in NAT
GlobeNewswire News Room· 2024-12-04 15:01
Group 1 - The company Nordic American Tankers Ltd (NAT) has announced that the Hansson family has purchased 194,341 shares at a price of USD 2.7802 per share, increasing their total ownership to 8,000,000 shares, making them the largest private shareholder group in the company [1] - Alexander Hansson, the son of the founder, has also increased his stake by purchasing 350,000 shares, bringing his total to 3,550,000 shares [1] Group 2 - The company emphasizes the importance of forward-looking statements and includes a cautionary statement regarding the uncertainties and contingencies that may affect future performance [2][3][4] - Factors that could cause actual results to differ from forward-looking statements include global economic conditions, fluctuations in charter rates, changes in demand in the tanker market, and operational expenses [5][6]
Nordic American Tankers (NAT) - 2024 Q3 - Quarterly Report
2024-12-02 21:01
Exhibit 1.1 Nordic American Tankers Limited (NYSE: NAT) – Report as per September 30, 2024 – Prospects for our Suezmax tankers are good Friday, November 29, 2024 Highlights: The international profile of NAT is reflected in the fact that during the last five years our ships have loaded & discharged in 68 countries. Ninety day periods offer a short-term snapshot of a company. However, it is more constructive to view the longer-term picture. The direction of NAT is unquestionably upwards, and there is room for ...
Nordic American Tankers: Weak Results And Mediocre Near-Term Prospects - Hold
Seeking Alpha· 2024-11-29 16:22
I am mostly a trader engaging in both long and short bets intraday and occasionally over the short- to medium term. My historical focus has been mostly on tech stocks but over the past couple of years I have also started broad coverage of the offshore drilling and supply industry as well as the shipping industry in general (tankers, containers, drybulk). In addition, I am having a close eye on the still nascent fuel cell industry.I am located in Germany and have worked quite some time as an auditor for Pric ...
Nordic American Tankers (NAT) Lags Q3 Earnings and Revenue Estimates
ZACKS· 2024-11-29 14:26
分组1 - Nordic American Tankers reported quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.06 per share, representing an earnings surprise of -33.33% [1] - The company posted revenues of $52.04 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.41%, compared to year-ago revenues of $48.04 million [2] - The stock has underperformed, losing about 31.4% since the beginning of the year, while the S&P 500 gained 25.8% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.05 on $69.79 million in revenues, and $0.28 on $250.9 million in revenues for the current fiscal year [7] - The Zacks Industry Rank for Transportation - Shipping is currently in the bottom 19% of over 250 Zacks industries, indicating potential challenges for the sector [8]
Nordic American Tankers Ltd (NYSE: NAT) – Report as per September 30, 2024 – Prospects for our Suezmax tankers are good
GlobeNewswire News Room· 2024-11-29 10:33
Core Viewpoint - The company, Nordic American Tankers (NAT), is experiencing upward growth and has potential for profitable expansion, as evidenced by its international operations and recent financial performance [1]. Financial Performance - In Q3 2024, NAT secured time-charter contracts with oil companies, generating approximately $125 million in net revenue, driven by a scarcity of suezmax ships [2]. - For the 92-day period ending September 30, 2024, NAT reported a net profit of $8.7 million, translating to earnings per share of $0.04, an increase from $7.5 million in the same quarter the previous year [4]. - The average time charter equivalent for NAT's fleet was $30,656 per day per ship, with daily operating costs around $9,000, indicating a solid profit margin [4]. - The company declared a dividend of $0.04 per share for Q3 2024, marking its 109th consecutive quarterly cash dividend [5]. Operational Strategy - NAT does not engage in the transportation of sanctioned oil via the "dark fleet" and avoids transiting the Suez Canal or trading in the Red Sea, positioning itself for potential positive impacts from upcoming regulatory changes [3]. - The company emphasizes environmental responsibility through careful voyage planning and speed adjustments to reduce emissions, maintaining high technical standards for its fleet [6]. Clientele and Market Position - The majority of NAT's business is conducted with major oil and energy companies, reflecting its strong market position and reliability in the industry [7].
Nordic American Tankers Ltd (NYSE: NAT) – Announces Results of its 2024 Annual General Meeting of Shareholders
GlobeNewswire News Room· 2024-11-25 13:54
Company Overview - Nordic American Tankers Limited (NYSE:NAT) held its Annual General Meeting of Shareholders on November 21, 2024, in Monaco [1][2] - The meeting approved the election of key personnel including Founder, Chairman & CEO Herbjorn Hansson, Alexander Hansson, and Jenny Chu as Directors of the Board [2] Financial and Market Outlook - The company expressed confidence in the current market conditions, stating that it is in a strong market and prospects are good [3]
Nordic American Tankers Ltd (NYSE: NAT) – Result from US presidential election has no impact on NAT
GlobeNewswire News Room· 2024-11-04 10:41
Monday, November 4, 2024 Dear Shareholders and Investors, We would note that we don’t expect there will be a noticeable immediate impact on Nordic American Tankers irrespective of who is the winner/looser in the upcoming presidential election. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute ...