Search results for: Nordic American Tankers

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  • 3 May 2018
    Business & Finance

    Nordic American Tankers has decided to sell two ships, thus reducing its fleet size to 31 tanker vessels.

  • 1 April 2019
    Business & Finance

    NAT inks an agreement that allows it to sell up to USD 40 million worth of common shares.

  • 11 May 2015
    Business & Finance

    In the first quarter of 2015 Nordic American Tankers (NAT) benefited from both a strong Suezmax tanker market and a significant drop in the oil price that had a positive effect on the tanker industry. Cashflow from operations was USD 50 million, compared with USD 24.5 million in 4Q2014. For all of 2014, cashflow from operations was USD 77.7m compared with […]

  • 10 August 2015
    Business & Finance

    Bermuda-headquartered Nordic American Tankers (NAT) ended the second quarter of 2015 with USD 30.9 million net profit, compared to USD 16.5 million net loss recorded in the same period a year earlier. NAT attributes improved results to a slide in oil prices, which led to increased transportation requirements and lower fuel costs. Tanker rates achieved on […]

  • 2 May 2016
    Business & Finance

    Bermuda-based tanker owner Nordic American Tankers (NAT) has inked a deal with an undisclosed party to acquire four 150,000 dwt Suezmax vessels for a price of USD 106 million. The company expects that the crude oil tankers, which were built at a Japanese shipyard, will be delivered during May, June and July 2016. Two ships from the batch were built in 2004, while the […]

  • 5 April 2016
    Business & Finance

    Nordic American Tankers (NAT) will buy new vessels only when ‘the time is right’, the company’s Chairman & CEO, Herbjørn Hansson said, adding that NAT was constantly assessing vessels offered on the market. “Our management does not have a fee incentive to grow indiscriminately. Some companies engage in such practices but at NAT we have […]

  • 7 January 2020
    Business & Finance

    NAT starts the new quarter with a booking for its Suezmax tanker worth over USD 100,000 per day.

  • 10 August 2017
    Business & Finance

    Bermuda-based tanker owner Nordic American Tankers Limited (NAT) has entered into two time charter arrangements (TCs) with Shell Oil. The time charters are for a period of 18 months for each vessel, commencing in August/September this year. As informed, the terms of the confidential contracts include upside for both parties as well as downside protection. […]

  • 10 August 2015
    Business & Finance

    Bermuda-headquartered Nordic American Tankers (NAT) ended the second quarter of 2015 with USD 30.9 million net profit, compared to USD 16.5 million net loss recorded in the same period a year earlier. NAT attributes improved results to a slide in oil prices, which led to increased transportation requirements and lower fuel costs. Tanker rates achieved on […]

  • 8 February 2016
    Business & Finance

    In the fourth quarter of 2015 Nordic American Tankers (NAT) profited from a strong tanker market which pushed the company’s operating cash flow by 16 percent. Due to a cash breakeven rate below USD 12,000 per day per ship and a growing NAT Suezmax fleet, the fourth quarter operating cash flow was at USD 57.2 million, compared to USD 24.5 million a year […]

  • 19 June 2018
    Business & Finance

    Suezmax owner Nordic American Tankers (NAT) has decided to abandon its previously planned bond offering.

  • 23 November 2018
    Business & Finance

    Nordic American Tankers has sold two of its 1999-built tankers, the Nordic Aurora and the Nordic Sprite.

  • 20 February 2019
    Business & Finance

    NAT wrapped up the fourth quarter of this year with a net loss of USD 10.5 million.

  • 12 October 2018
    Business & Finance

    Tankers have recently experienced a strong recovery in the spot market, which tripled from just a few months back.

  • 18 September 2012
    Business & Finance

      Nordic American Tankers Ltd today announced that it will be acquiring the remaining interest in Orion Tanker Pool (“Orion”). NAT and Frontline Ltd. established Orion in the autumn of 2011. Since then, Orion has managed the chartering operations of the 20 NAT vessels and the nine Frontline suezmax vessels. Orion has arranged charters to […]

  • 21 March 2019
    Business & Finance, Rules & Regulation

    NAT is “steadfast” on its decision that scrubbers are not a solution for the company.

  • 3 January 2018
    Business & Finance

    CEO of Nordic American Tankers expects 2018 to be a better year for the company than 2017.

  • 1 November 2013
    Business & Finance

    Nordic American Tankers (NAT) announced today that it is coordinating the establishment of Nordic American Offshore Ltd. (NAO), a new company that plans to purchase, on certain conditions, six platform supply vessels (PSVs). These ships were built in 2012 and 2013 by the Ulstein Group in Norway. The strategy of NAO is expected to be […]

  • 17 December 2015
    Business & Finance

    New York-listed shipping company Nordic American Tankers (NAT) has agreed to extend and refinance its current credit facility up to end 2020 covering its 26 vessel Suezmax fleet. The new non amortizing facility is increased from USD 430 million to USD 500 million, based on improved terms. The banking group consists of DNB Bank, Nordea […]

  • 27 October 2016
    Business & Finance

    Bermuda-based tanker owner Nordic American Tankers Limited has decided to up its fleet to 33 vessels as it signed agreements for three new Suezmax tankers with South Korea’s shipbuilder Samsung Heavy Industries. Featuring 157,000 deadweight tons each, the new vessels are scheduled for delivery to NAT during the second half of 2018. “This is another large step […]

  • 26 June 2018
    Business & Finance

    Nordic American Tankers has sold three more Suezmaxes, bringing the total number of sold vessels to eight. 

  • 17 January 2013
    Business & Finance

    Nordic American Tankers Ltd. today announced that its Board of Directors has declared a dividend of $0.16 for the fourth quarter of 2012. The Company is assessing expansion plans including ordering of new vessels from shipyards or buying second hand vessels at historically low prices. The level of the declared dividend should be seen in […]