Nordic American Tankers (US:NAT) Globenewswire·2025-05-29 09:52Core Viewpoint - The company emphasizes a long-term growth trajectory while maintaining a focus on dividends as a key objective [1][3]. Financial Performance - The dividend for Q1 2025 is set at $0.07 per share, marking the 111th consecutive quarterly cash dividend, payable on June 26, 2025, to shareholders on record as of June 12, 2025 [3]. - In the first five months of 2025, the company acquired two vessels built in 2016 for a total of $132 million and sold two vessels built in 2003-2004 for $45 million, with a cash position of $103 million as of March 31, 2025 [3]. Market Dynamics - Increased pressure on sanctioned oil trades and higher OPEC volumes are expected to boost demand for the company's ships, with the "shadow fleet" being pushed further into obscurity, which is favorable for the company [3]. - The average time charter equivalent (TCE) for the fleet in Q1 2025 was $24,714 per day per ship, with operating costs at $9,000 per unit, resulting in a net profit of $4.2 million for the quarter [3]. Environmental Initiatives - The company is actively reducing emissions from its vessels through careful voyage planning and speed adjustments [3]. Fleet Quality - The high quality of the company's vessels is validated by the vetting performance conducted by major oil companies, which utilize approximately 50% of the fleet [3].