Nordic American Tankers Ltd (NYSE: NAT) – Report as per June 30, 2025 – NAT increases its dividend in a solid market

Core Viewpoint - The company emphasizes a long-term growth trajectory, prioritizing the quality of its ships and dividends while navigating short-term challenges [1]. Financial Performance - The dividend for Q2 2025 is set at $0.10 per share, marking the 112th consecutive quarterly cash dividend, payable on September 29, 2025, to shareholders on record as of September 12, 2025 [2]. - The average time charter equivalent (TCE) for the fleet in Q2 2025 was $26,880 per day per ship, resulting in an adjusted EBITDA of $15.8 million. However, the company recorded a net loss of $0.9 million for the quarter, influenced by one-time effects and the sale of a vessel [2]. Fleet and Operations - The fleet consists of 20 well-maintained suezmax tankers, following the acquisition of two vessels and the sale of one during Q2 2025 [2]. - The company has not carried Russian oil for over three and a half years, and approximately 50% of its fleet is employed by major oil companies, reflecting the quality of its vessels [2][6]. Market Outlook - There is strong demand for oil, particularly in emerging economies, and geopolitical developments may increase oil volumes available for the fleet [2]. - The company is optimistic about future operations, citing careful voyage planning and speed adjustments to reduce emissions [2].