Don't you get it? NAT issues equity with 100% disregard for shareholder value
How many more times are you going to play NAT's game. CEO goes on Cramer's show and then another equity offering a few days later. How can a mgmt. team continue to issue equity when they issued equity at prices 3.5x higher the present stock price in order to pay top dollar for ships back when NAT's share price was in the mid $30s.
This is a Ponzi game... mgmt. hopes, dreams, and prays if they only buy enough ships and if rates increase they can paper over the massive purchases of ships at values far beyond anything akin to fair value.
This stock can never realize value for shareholders.
I think the fella was pretty straight on what is important for him and the company going forward is to build fleet. I mean with sanctions in place they are gonna have to ship to China and skip the Mid East and that is a big long trip. My question is will they be docking in the USA and taking Oil from the USA to China as the USA exports more and more ? I see LNG/CNG going long distance too. Maybe I am wrong, maybe not.
It the law, cannot export oil from the U.S. NAT has no LNG ships, they are in the oil game only. The U.S. is importing less oil every year. The U.S. does export refine petroleum products, gasoline and diesel, but I do not believe NAT tankers can carry this. NAT is counting on China increasing oil imports big time.