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Nordic American Tankers Limited (NAT)

NYSE - NYSE Delayed Price. Currency in USD
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2.6700-0.5300 (-16.56%)
At close: 04:00PM EDT
2.7300 +0.06 (+2.25%)
Pre-Market: 07:00AM EDT
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  • J
    J
    Nordic American Tankers continues clearing vintage ships in latest sale
    The company moved one of its three 2003-built tankers, netting it $21m

    Nordic American Tankers continues clearing out older tonnage as its fleet renewal continues and asset values continue climbing.

    The Herbjorn Hansson-led, New York-listed suezmax specialist announced the sale of an unnamed 2003-built tanker to a “major international energy company” for $21m for delivery in the fourth quarter.

    The only ships fitting that description in the company's fleet are the 150,100-dwt Nordic Pollux, the 160,000 Nordic Apollo and Nordic Cosmos (all built 2003).

    “The cash proceeds will be used to reduce our debt. A [Nordic American Tankers] objective is to become debt free as was the case earlier,” Hansson said in a statement announcing the deal.

    It is the company's fifth sale this year, all of which have been vintage ships.

    In January it sold the 164,200-dwt Nordic Mistral (built 2002) and in March sold the 149,921-dwt Nordic Grace and the 160,000-dwt Nordic Passat (both built 2002) for $15m each.

    In July the company sold the 160,000-dwt Nordic Moon (built 2002) for $16m.

    According to VesselsValue, the Nordic Pollux is worth $22.3m, the Nordic Apollo is worth $23.4m and the Nordic Cosmos $22.6m.

    The deal outperformed other, similar sales recorded by the valuation service.

    Earlier this month, the United Arab Emirates-based Lila Global sold the 159,100-dwt Lila Guangzhou (built 2004) for $18.3m and in August Monument Ship Management of Turkey sold its 164,600-dwt Clara (built 2002) for $20.1m.

    Both were sold to unnamed buyers.

    Nordic American Tankers also took two newbuilding deliveries this year: the 157,000-dwt Hordic Harrier and Nordic Hunter (built 2022).

    In the second quarter of 2022, the company posted a $4m loss while issuing its 100th consecutive dividend at $0.03.
    Bullish
  • J
    J
    Bullish
  • J
    J
    The deal outperformed other, similar sales recorded by the valuation service.
    Bullish
  • J
    J
    Tankers ‘set up for a very good bull run’

    The tanker market could be set for a recession-defying multi-year bull run, according to a panel of market experts.

    https://www.seatrade-maritime.com/tankers/tankers-set-very-good-bull-run
  • J
    J
    Nordic American Tankers continues clearing vintage ships in latest sale
    The company moved one of its three 2003-built tankers.

    https://www.tradewindsnews.com/tankers/nordic-american-tankers-continues-clearing-vintage-ships-in-latest-sale/2-1-1323424
    Bullish
  • K
    Katitsa
    Hellenic Shipping News
    9/27/22
    Shipping and more specifically, tankers, are bound to find themselves at the forefront of EU’s upcoming plans to cover its energy needs ahead of the coming winter. In its latest weekly report, shipbroker Intermodal said that “in view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance even after the banning of Russian oil delivered by sea, Russian refined products will be banned within Q1–2023 and crude oil will be banned in December 2022.
  • W
    WADES
    Looks to me that they got a great price for a 20 year old tanker. At 20 years old, it’s productive was limited. A lot better price than scrap!
  • J
    Joe
    Just bought some more. The next few years should be outstanding for the tankers. So stated by tanker CEOs and annalists in recent months and days. NAT $10+ by end of 2024. The future is bright for NAT. Bigger dividends and SP. Long and holding. Ignore the haters.
    Basqboy
  • S
    Sean
    Best stock out there!
  • J
    J
    Elderly suezmaxes soar in value shifting Russian crude east

    https://splash247.com/elderly-suezmaxes-soar-in-value-shifting-russian-crude-east/
    Bullish
  • J
    J
    Herb's not buying his few shares @ $3.16 on Tuesday to lose money on Thursday. He's a little bit smarter than that. Price is temporarily down on new but will be right back up to mid $3.00 before you know it. GL longs!
    Bullish
  • J
    J
    Nordic American Tankers’ results improve significantly in the second quarter
    Rates more than doubled from the first quarter of 2022, while vessel values rose as well
  • W
    WADES
    Don’t understand the need to be debt free! If the business can’t generate enough cashflow to pay interest and principal then they should find another business. Responsible leverage should be used to improve the businesses rate of return.
  • W
    WILLIAM
    Nordic American Tankers Ltd (NYSE: NAT) – Founder, Chairman & CEO buys more shares in NAT
    Tuesday, September 27, 2022



    Dear Shareholders and Investors,

    This is to advise you that a company owned and garanteed by me has today bought 100,000 shares in NAT at the price of USD 3.16 per share.

    My son, Alexander Hansson, Board member in NAT, has recently increased his holding to 2 million NAT shares.

    As in the past, the Hansson family is the largest private shareholder group in the company.

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

    Sincerely,

    Herbjorn Hansson
    Founder, Chairman & CEO
    Nordic American Tankers Limited
  • W
    WayneD
    Anyone think NAT will ever have positive earnings?
  • w
    william
    well now iam glad i sold my shares at 3,
  • M
    Mark
    Taken to the woodshed today relative to other tankers. Unfortunate Herb’s stock purchase was one day early, though the sale of the 2003 vessel for $21 million is a very good move.
  • J
    J
    Clarksons says Nordic American Tankers sailing into an ‘ocean of dividends’

    Suezmax specialist has room to benefit from rising asset values if rates stay strong

    https://www.tradewindsnews.com/tankers/clarksons-says-nordic-american-tankers-sailing-into-an-ocean-of-dividends-/2-1-1320971
  • G
    Gastric Distress
    Such a poorly run company. Selling tankers when rates are up and should go a bit higher.

    Basically, they told investors they would rather have $21 million
    than operate a ship. If they are right, then it is because rates will be falling which is bad for the outlook. If they ate wrong it is because they are desperate or clueless. Also bad for the outlook.
  • A
    Anonymous
    how is this down with the pipeline news and herbs big stock purchase
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