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Nordic American Tankers Limited (NAT)

NYSE - NYSE Delayed Price. Currency in USD
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2.1400+0.1000 (+4.90%)
At close: 04:00PM EDT
2.1700 +0.03 (+1.40%)
After hours: 07:59PM EDT
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  • k
    kactus jack
    Did an investment firm upgrade NAT? If not why is stock up so much today? Thanks
  • G
    Gamer
    Short sellers will get a margin call at $4/share.
  • J
    J
    Nordic American Tankers (NYSE:NAT) Stock Rating Reaffirmed by Clarkson Capital
    https://www.marketbeat.com/instant-alerts/nyse-nat-a-buy-or-sell-right-now-2022-06-2/
    Bullish
  • J
    Johnny
    TD Ameritrade/Markit On Demand; NAT Nordic American Tanker Ltd
    First Call Change in Consensus Recommendations
    Consensus Recommendations changed from Hold to Buy
  • J
    J
    Product tankers continue high earnings as suezmaxes jump
    The Baltic Clean Tanker Index rose just over 13% this week, while suezmaxes made major gains
    Bullish
  • J
    Johnny
    Looks like Nat will be back in the black ink for Q3.
    Bullish
  • J
    Johnny
    Friday starts the 3rd Q. Lets see how fast Nat's price rises when new active fund manager teams re-adjusts client portfolios. They will look to regain their previous market losses by taking a more proactive approach to beat market average returns in this recession (GDP has fallen, Jan-June). That's right, we are in a recession, deal with it.
  • h
    hoge
    TCE earnings for suezmax crude tankers rebounded nearly $6,000 in one session to approach $13,500 per day, just days after touching the lowest level since February.
    (TradeWinds 14 June, & Baltic Exchange)

    In addition ECB released a financial analysis survey on the 13th, showing that the euro area has avoided a recession this year.
    After bottoming out in the second quarter, the economy is expected to accelerate rapidly (Reuters 13 June).

    For these reasons, I closed my short position this week. We plan to gradually increase long positions while observing changes in TCE over the next few weeks.
  • א
    אני עני
    And we are above 2 bucks......
  • W
    WILLIAM
    Nordic American Tankers Ltd (NYSE: NAT) – Report March 31, 2022 (First quarter 2022) – Daily rates improving
    Tuesday, May 31, 2022

    Dear Shareholders and Investors,

    Please see HIGHLIGHTS and enclosed 1Q 2022 report below.

    HIGHLIGHTS:

    The future of our business is sound



    The uncertainty created by the Russia/Ukraine conflict is reshaping the energy map of the world long term. Oil will have to be sourced from a myriad of places, often involving longer (ton-mile) and thus more lucrative voyages. The NAT fleet of versatile suezmax tankers is ideally situated to take advantage of these changing circumstances. We have not carried Russian oil during the last year.

    New oil tankers joining the global fleet are in short supply going forward. Major shipyards are reporting they have little or no capacity to build suezmax tankers before 2026. This is a very bullish data point both for the market over the long run and for NAT.

    The average TCE for our active fleet during the first quarter of 2022 came in at $8,870 per day per ship. So far in the second quarter of 2022, 70% of our fleet is booked at an average TCE of about $20,000 per day per vessel (+ 125%). This is the best illustration possible of an advantageous market for our suezmax tankers.

    With global oil inventories at critically low levels and the present political uncertainties, the improvement in tanker markets has accelerated.

    We recorded a net loss of -$27 million or an EPS of -$0.14 for the first quarter 2022. The same quarter last year saw a net loss of -$25.0 million and a corresponding EPS of -$0.16 based on the average number of shares outstanding in the quarter.

    The cash dividend for 1Q 2022 is 2 cent ($0.02) per share, payable on Wednesday July 6, 2022, to shareholders on record Tuesday June 14, 2022. This is our 99th consecutive quarterly dividend payment.

    NAT has one of the lowest debt levels among publicly listed tanker companies. The net debt of the company as per March 31, 2022 is $226.9 million or $11.3 million per vessel. This provides the company with financial flexibility. Our objective is to become debt free.

    Our newbuilding, The “Nordic Harrier” built by Samsung in South-Korea was delivered on schedule May 13, 2022. The second newbuilding will be delivered at the end of June. Both vessels are commencing six year time charters immediately upon delivery from the yard, ensuring earnings, cashflow and financial stability. The vessels are fully financed.

    We have during the first four months of 2022 sold three of our 2002 built vessels. The ships were delivered to new owners on February 18, March 23 and April 12, 2022 respectively. A total of four vessels have been sold since we announced plans to refresh our fleet. The proceeds from these sales, which totalled about $60 million were used to pay down debt. We expect to sell one more 2002 suezmax at about $16 million.

    Financial information for the first quarter of 2022 and for other periods is included later in this report - see link below.

    For contacts, please see at the end of this communication.



    www.nat.bm




    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

    Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

    The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

    The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking .
    Bullish
  • j
    joe
    A. "Let's not and say we did"?

    Q. If the EU will be relying on tankers for oil because they are shutting down pipelines from Russia, then why are tanker stocks not moving?
  • A
    AL
    India is paying 15.6 million to scrap a suezmax tanker. Nordic Moon was sold for 16million. The ship is on its way to the United Arab Emirates for pick up of oil. Now this tanker is competing with NAT. $400,000.00 is nothing to sneeze at, but in the long run I think they would have been better off if they scrapped it.
  • J
    J
    Tanker Demand to Grow 3.5% - 5.6% as Europe Avoids Russian Oil - Asia Imports More

    https://ihsmarkit.com/research-analysis/tanker-demand-to-grow-35-56-as-europe-avoids-russian-oil-asia-.html
  • W
    WILLIAM
    Nordic American Tankers Ltd (NYSE: NAT) -- Russia/Ukraine - impact on our business
    10:13 AM ET 6/13/22 | GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) -- Russia/Ukraine - impact on our business

    Monday, June 13, 2022

    Dear Shareholders and Investors,

    Our business is constantly shaped by news. As we approach the fifth month of the crisis between Russia and Ukraine, we can better see how this situation is reshaping the flow of energy itself.

    A key element in this new reality is sea transportation. The NAT fleet of suezmax tankers is more important than ever in meeting the challenges of this new energy landscape. The loading capacity of our tankers is one million barrels each.

    Two weeks ago, OPEC and Saudi Arabia agreed to a larger increase in their oil production than the already-scheduled 400,000 barrels. The new increase now will be 648,000 barrels in July and again in August. This translates to more oil on the water and higher demand for the NAT suezmax tankers.

    EU also agreed on a ban of Russian Oil. Europe imported about one third of its oil from Russia before the events in Ukraine unfolded.

    Going forward, Europe can be expected to source a large part of this oil from other suppliers further away, such as West Africa, Middle East and Americas. This translates to longer distances and more need for our suezmax tankers.

    Last time Nordic American had Russian oil on board our tankers was in April 2021.

    There is a strong pressure on oil producing countries to increase their production. Oil is needed to create welfare -- this is an established fact for decades.

    The low supply of new oil tankers joining the global fleet in the coming years is positive for NAT. Major Asian shipyards report there is limited yard capacity to deliver large oil tankers before 2026, creating favorable supply/demand dynamics for our fleet of versatile suezmax tankers.

    For contacts, please see at the end of this
    Bullish
  • A
    ANITA
    Amazing how interpretations of articles influence investors. Top to bottom clearly this company can triple from current prices
  • C
    Chief
    On Feb. 28, BRiley's lead shipping analyst, Liam Burke, said Buy NAT for a $5 target and Buy INSW for a $35 target.

    Burke: "Nordic American operates a fleet of Suezmax tankers. NAT is in the best position in our
    coverage universe to capture full upside potential to the spike in rates. The company
    reported 4Q21 results that showed steady sequential demand and a return to positive
    EBITDA generation; the company should still see continued rate improvement as the market
    normalizes but should capture additional cash flow from the temporary spike in rates."
  • א
    אני עני
    Well folks, the week is done. Enjoy your weekend Y'all...
  • W
    WILLIAM
    Nordic American Tankers Ltd (NYSE: NAT) – NEWS: The last 2002 built vessel sold

    Tuesday, June 7, 2022

    Dear Shareholders and Investors,

    We wish to inform you that we have sold the last of our originally four 2002 built suezmax tankers, the “Nordic Moon”.

    The price is about $16 million net to NAT. The vessel will be delivered to the new owners during June 2022.

    We plan to take delivery of a newbuilding from Samsung Shipyard in South Korea at the end of June. It will start on a six year contract as from delivery.

    The first newbuilding from Samsung in this round was delivered to us in mid - May. The vessel started on a contract for 6 years when delivered from the yard. A strong balance sheet is essential. The NAT debt is low compared with other US listed tanker companies.

    NAT is in a positive phase of development as illustrated in this message.
    Bullish
  • G
    GAN
    22 Ships

    70% = 15 ships
    @20 k per ship per day for 90 days = 27 mln

    Add another 2 ships @9000 per day = 2mln

    Total revenue = 29 mln

    Their expenses = 17+ 6+ 6 = 29 mln

    Depreciation is around 13 mln

    They could show a cash flow positive next quarter.

    Gl!
  • J
    J
    Streetwise: No one has paid dividends longer than NAT, but does anyone care?
    Our weekly shipping finance newsletter explores one shipowner’s dedication to shareholder payouts.

    https://www.tradewindsnews.com/finance/streetwise-no-one-has-paid-dividends-longer-than-nat-but-does-anyone-care-/2-1-1230207
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