Nordic American Tankers Ltd (NYSE: NAT) – Report as per September 30, 2024 – Prospects for our Suezmax tankers are good

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].