Nordic American Tankers (US:NAT) Globenewswire·2026-02-26 11:39Core Viewpoint - The company is experiencing positive momentum with a solid market for its ships and has secured a long-term contract, indicating a favorable outlook for the future [1][3]. Financial Performance - The fourth quarter of 2025 yielded a dividend of $0.17 per share, marking the 114th consecutive quarterly cash dividend, payable on March 24, 2026 [3]. - The average time charter equivalent (TCE) for the fleet was $35,000 per day, reflecting a 25% increase from the previous quarter, with operating costs at approximately $9,000 per day per ship [3]. - The net result for Q4 2025 was $11.7 million, and EBITDA reached $34.7 million, with a cash position exceeding $100 million at the time of the report [3]. Market Conditions - Nearly two-thirds of spot days in Q1 2026 have been booked at around $55,000 per day, with bookings extending well into Q2 2026, indicating a robust market environment [3]. - The scarcity of compliant ships has become apparent, intensifying pressure on the shadow fleet, which bodes well for the company's long-term outlook [3]. Fleet Management - The fleet consists of 20 vessels as of December 31, 2025, with plans for growth in the future [3]. - The company acquired two suezmax tankers built in 2016 during the first half of 2025 and has agreements for two new vessels to be delivered in 2028 [3]. - In 2025, the company sold four older vessels built between 2003 and 2005, capitalizing on rising asset prices [3]. Environmental Initiatives - The company is focused on reducing emissions through careful voyage planning and speed adjustments of its ships [3].