Nordic American Tankers (NAT)

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Nordic American Tankers Ltd (NYSE: NAT) – Non-Executive Vice Chairman of NAT, Alexander Hansson buys more shares
GlobeNewswire News Room· 2024-05-30 13:47
Thursday, May 30, 2024 Dear Shareholders and Investors, Alexander Hansson, Non-Executive Vice Chairman of Nordic American Tankers Ltd (NAT) and son of Herbjorn Hansson, Founder, Chairman & CEO, has today bought 350,000 shares in NAT at $4.0029 per share for a total sum of $1,4 million. Following these transactions, Monaco based Alexander Hansson privately owns 3,000,000 shares in NAT. As in the past, the Hansson family is the largest private shareholder group in the company. For contacts, please see at the ...
Nordic American Tankers Ltd (NYSE: NAT) – Report as per March 31, 2024 – Dividend is a top priority.
Newsfilter· 2024-05-29 12:09
Highlights: Ninety day periods offer a short-term snapshot of a company, but it is also important to view the long-term picture. The values of our assets have seen a significant increase over the past years. The direction of NAT is unquestionably upward, with further room to grow. Sincerely, Wednesday, May 29, 2024 Dear Shareholders and Investors, encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, st ...
Nordic American Tankers Ltd (NYSE: NAT) – Report as per March 31, 2024 – Dividend is a top priority.
globenewswire.com· 2024-05-29 12:09
Wednesday, May 29, 2024 Dear Shareholders and Investors, Highlights: Ninety day periods offer a short-term snapshot of a company, but it is also important to view the long-term picture. The values of our assets have seen a significant increase over the past years. The direction of NAT is unquestionably upward, with further room to grow. 1. The first quarter of 2024 continued at a strong pace with healthy earnings. The Net Profit for the first quarter of 2024 came in at $15.1 million which is similar to the ...
Earnings Preview: Nordic American Tankers (NAT) Q1 Earnings Expected to Decline
zacks.com· 2024-05-20 15:01
Estimate Revisions Trend The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. The market expects Nordic American Tankers (NAT) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook is important in assessing the company's earnings picture ...
Nordic American Tankers Ltd (NYSE: NAT) – 1Q 2024 Earnings Report
Newsfilter· 2024-05-14 13:45
Sincerely, Herbjorn Hansson Founder, Chairman & CEO Tuesday, May 14, 2024 Dear Shareholders and Investors, Please be advised that our 1Q 2024 Earnings Report is scheduled for release Wednesday May 29, 2024 before NYSE opening. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data ...
Nordic American Tankers (NAT) - 2023 Q4 - Annual Report
2024-04-29 20:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of ...
Nordic American Tankers (NAT) - 2022 Q4 - Annual Report
2023-04-27 20:04
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 20-F | ☐ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 | | --- | --- | | | OR | | ☒ | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | For the fiscal year ended December 31, 2022 | | | OR | | ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | | | OR | | ☐ | SHELL COMPANY REPORT PURSUANT TO SECTION ...
Nordic American Tankers (NAT) - 2022 Q4 - Earnings Call Transcript
2023-03-07 15:59
Financial Data and Key Metrics Changes - The company is focused on increasing its dividend significantly after repaying its debt to Beal Bank of Dallas, which is expected to occur within a year [6][18] - The company has maintained a dividend payment for over 100 consecutive quarters, emphasizing its commitment to prioritizing dividends [6][21] Business Line Data and Key Metrics Changes - The company has a strong focus on transportation work, with an increase in ton-mile activity noted across its worldwide operations [2][4] - The company operates 15 of its 19 tankers in the spot market, indicating a strategy to leverage current favorable market conditions [31] Market Data and Key Metrics Changes - There is a noted scarcity of ships in the marketplace, leading to increased rates and ship values [2][4] - The company has not carried Russian oil for the past 18 months, which has implications for its operations amid geopolitical tensions [4] Company Strategy and Development Direction - The company aims to become debt-free to enhance operational flexibility and increase dividends [31] - The management is focused on maintaining transparency and building strong relationships with major oil companies, which are its primary customers [7][16] Management's Comments on Operating Environment and Future Outlook - The management expressed confidence in the current market conditions, stating that they have not seen a better market for their fleet in years [19] - There is a low order book for new tankers, which is expected to sustain favorable market conditions for the foreseeable future [52][53] Other Important Information - The company has established operations in various regions, including the Middle East, South America, and Asia, with significant business ties to major oil companies [3][4] - The company is actively reducing emissions through speed management practices, which is part of its operational strategy [7] Q&A Session Summary Question: What is the current market situation? - The management noted a scarcity of ships leading to increased rates and values, with a focus on ton-mile transportation work [2][4] Question: How will the dividend policy change after repaying the Beal facility? - The management indicated that the dividend could potentially double from current levels once the debt is repaid [18][21] Question: How does the current market affect chartering strategy? - The company plans to maintain its current strategy of operating primarily in the spot market while focusing on becoming debt-free [31] Question: What is the status of the new tankers and their contracts? - The management clarified that the new tankers were contracted at higher rates than previously mentioned, ensuring financial stability [34][36] Question: How does the company manage its crew nationality? - The management highlighted a diverse crew composition, including Filipino, Russian, and Ukrainian nationals, emphasizing cooperation among them [44]
Nordic American Tankers (NAT) - 2023 Q1 - Quarterly Report
2023-02-27 21:32
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of February 2023 Commission File Number: 001-13944 NORDIC AMERICAN TANKERS LIMITED (Translation of registrant's name into English) LOM Building, 27 Reid Street, Hamilton, HM 11, Bermuda (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under ...
Nordic American Tankers (NAT) - 2022 Q3 - Quarterly Report
2022-09-30 10:39
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of September 2022 Commission File Number: 001-13944 NORDIC AMERICAN TANKERS LIMITED (Translation of registrant's name into English) Herbjørn Hansson, Founder, Chairman & Chief Executive Officer LOM Building, 27 Reid Street, Hamilton, HM 11, Bermuda (Address of principal executive office) Indicate by check mark ...