How can this company not be bankrupt yet saying that they need to support shareholders during this tough period by paying dividends
"As a general guideline, NAT does not accumulate cash in the Company as all cash generated after expenses is paid out as dividend to shareholders. If the cash break-even rate is not reached the shortfall will be covered by the credit line."
OMG OMG. If Buffett only read this. He would be laughing his touchouss off
You are arguing with a kid that has no clue about shipping nor investing. Even if you win, which he would never admit to because he is just here to act up, you will have basically "stuffed" the ball on a retard trying to shoot a basket. Is that really an accomplishment?
Yes, they did badly last quarter. Because rates were the worst in decades. Below $11k/day/suezmax, so of course NAT lost money. However, this quarter is better: on average, the rates have been above $11k/day/suezmax. There is no reason to assume this quarter will be like the last one, the worst possibly ever.
NAT's break even per ship is $11k/day. When rates are above $11k/day, everything above $11k/day is profit. Today, the rates are $18,296/day, so were NAT to charter at today's rates, it would be making $7296/day/suezmax.
lol stfu you dumbass.
Contradict my point. NAT makes 7000 a day breakeven is 11K. You really think its that hard to get the business model of a shipper A dividend policy is not a business model. Its called how you go into bankruptcy and NAT is writing the handbook on it.
Clearly, you have not a clue about their business model. I did not know that before I began conversing with you. Just short it and enjoy. Last post I made to you, given the fact you simply waste my valuable time.