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Nordic American Tankers Limited (NAT)

NYSE - NYSE Delayed Price. Currency in USD
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2.3900-0.0200 (-0.83%)
At close: 4:00PM EDT
2.3900 0.00 (0.00%)
After hours: 07:10PM EDT
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  • M
    Mark
    Many tend to judge companies and management based on quarterly or annual results. A ten year period provides better insight. Just looking at shareholder equity, in 2011 NAT shareholder equity stood at $875 million. Today it is $575 million, even after issuing 124 million new shares during the 10 year period. The result, NAT has suffered severe balance sheet destruction, vaporizing $300 million in shareholder equity, a 34 percent reduction. In comparison, over the 10 years TNK and EURN shareholder equity increased approx 75 and 120 percent respectively. Kudos to management.
  • M
    Mark
    Further to my post below here are details into how NAT has managed company capital resulting in the deterioration of their balance sheet. These numbers cover a 9 ½ year period from Jan 2012 through June 30, 2021 and are extracted from NAT SEC filings. Obviously net losses and dividends reduce shareholder equity, and issuing new share capital produces an increase.

    Shareholder Equity Jan 1, 2012 $868 MM

    Cumulative Net Loss -$394 MM

    Dividends Paid -$558 MM

    New Share Capital Raised +$647 MM
    ————-

    Shareholder Equity Jun 30, 2021 $563 MM
  • M
    Mark
    Market is improving for sure. Fearnleys Oct 20

    Suezmax

    All load zones are set for further rates rises this week due to a combination of circumstances that will catch some participants off guard. We are seeing Black Sea and Td20 laycans converging, which is nothing out of the ordinary during the Northern Summer months, but at this time of year, it has traditionally been a bellwether of volatility, especially when combined with delays in the straits. This forces charterers to pick from the same pool of FOC ships which can easily stress the list. The East is also offering up similar distractions for owners, as a firmer outlook may well hold Eastern tonnage away from West Africa, to some degree at least. With VLCCs and Aframaxes also looking firmer, this market is exhibiting all the signs of further volatility and next done is likely to be higher than last done.
  • R
    Richard
    NAT lost $28 million in Q2, and $25 million the quarter before, Q3 was probably a little worse than Q2 as far as spot prices go and many of NAT's ships were unable to find any employment based on websites that show tanker movement. The question is how much will NAT lose in Q3, not counting its disposal of vessels to raise cash or its dilution of shareholders through its ATM?? I think you are looking at least a $30 million loss in Q3.
  • G
    GREG
    DO NOT OWN NAT SHARES. Hansson's poor management led to his bailing out of NAO ((Nordic American Tankers). NAO declared bankruptcy, liquidated and common holders list everything. Look at NAT share price history chart from it's existence. Sell your NAT shares.
  • G
    Gianni
    suezmax spot rates +61% today. rate is now $5000/day.
  • G
    Gianni
    suezmax spot rates are now +$6100 per day. this won't generate positive earnings, but at least they are no longer negative. we can only hope for contango. if the Moron Herb did a share buyback, then the stock would rise a bit. otherwise, rates getting to +$40k/day is far away.
  • M
    Mark
    These past 30 days crude tanker stocks have made a nice run DHT 17%, FRO 15%, EURN 28% (Fredriksen accumulating shares), TNP 15%, TNK 18%, INSW 6%. NAT is the laggard at 3%. The results for the past 6 months are far worse. NAT is negative 24%, all others are up except INSW, DHT 16%, FRO 30%, EURN 29%, TNP 1%, TNK 12%, INSW down 2%. Not exactly what one could call relative strength.
  • J
    Jonathan
    Cramer on CNBC just said “ you don’t want to own NAT)
    Bearish
  • A
    Albert
    When supply chain goes to complete crsp, this will be 39 plus easy!
    Bullish
  • S
    Svein
    Last week now I filled up share from level 2.41 and up to 2.46.
    66.000 share. Have big belive in a huge profit in coming 6 month. Tankermarked showing all sign of going up. If you have money make a bet...
    Bullish
  • R
    Richard
    As the oil tanker stocks are starting to run, we are really starting to see the divergence between well managed tanker companies like EURN and poorly managed tanker companies NAT. Today EURN is making a 52 week high and NAT is still about 40% away for its yearly high. As tankers continue their run (hopefully), I would expect this trend to only continue. Bottom line - if you like tankers, get out of this dog and into more honest, responsible, respected companies like EURN, TNK, FRO, or DHT.
  • W
    WayneD
    The all time low for NAT stocks is around 2.00. Probably it will go under that fairly soon. They probably
    should just declare BK and save everyone the pain and suffering. But there is always a small chance that maybe another company could buy them out or maybe day rates could suddenly rise.
  • D
    D
    "Our policy is always to underpromise and overdeliver." Got that backwards Herbie, more like overpromise and underdeliver. Will never see my original purchase price 35.56 usd from Oct 2006 when Jim Cramer pumped this baby
  • D
    D
    Nick "How do you send an email about expansion then talk about selling a ship?"

    THAT, my friend, is HERBIE math.
  • W
    WayneD
    Since I somewhat crazy, I just bought a significant position in NAT. I already had some call options. The rest of this sector has already moved up big time. There was quite a bit of insider buying recently. There is basically no activity on this message board, which is another excellent sign (neglect, tons of pessimism).
  • T
    Tyler
    NAT back to 8$?
  • D
    D
    HERBIE's math part 2. Sure you bought at 36usd but you've gotten 5 bucks in dividends so be happy that the shares are trading 2+ buck.
  • N
    Nick
    Can someone please explain to me this email I got from NAT this morning? How do you send an email about expansion then talk about selling a ship?

    Headline of email says "Nordic American Tankers Ltd (NAT) – NAT fleet expansion program under development. Strong market expected.

    The body says

    In our message of July 28, 2021, we informed the market that we are working to sell a few ships and to buy some ships. For your easy reference, the message of July 28 is enclosed.

    This plan is now well under way.

    At this time, we have agreed to sell one of our ships. We expect the transaction to be fixed and firm shortly.

    As indicated above, we look at further sales and purchases of suezmaxes in the time to come.

    The market for our 25 suezmaxes is finely balanced. We agree with those (analysts) who now expect a strong upswing.
  • W
    WayneD
    I am VERY glad I just bought options on NAT and not NAT stock itself. All I can lose is the modest amount I used to purchase the options. The amount anyone who bought the stock itself can lose is the entire investment in the stock itself.
    Bullish
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