Nordic American Tankers Ltd (NYSE: NAT) – A tumultuous situation creates strong results
Nordic American Tankers (NYSE: NAT) reports a "tumultuous" market produced strong fixture earnings for Q1 2026 versus Q4 2025.
Rhea-AI Summary
Nordic American Tankers (NYSE: NAT) reports a "tumultuous" market produced strong fixture earnings for Q1 2026 versus Q4 2025. Key time-charter equivalent (TCE) rates: USD 175,000 (85 days), USD 150,000 (60 days), USD 94,000 and USD 88,000 (90 days).
Operating costs are approximately USD 9,000/day. Fixtures 5 and 6 were concluded before the Middle East war outbreak on Feb 28, 2026. Contact details for CFO and finance manager are provided.
Positive
- Very high TCE of USD 175,000/day on an 85-day fixture
- Multiple six-figure TCE fixtures (USD 150,000 and USD 94,000)
- Operating cost approx USD 9,000/day, well below top TCEs
Negative
- Geopolitical exposure from Middle East war beginning Feb 28, 2026
- Wide TCE volatility across fixtures (USD 41,000–175,000), indicating earnings variability
Details
News Market Reaction – NAT
On Mar 23, the day this news came out, NAT closed 4.19% above the previous close.
Data tracked by StockTitan Argus for the Mar 23 session.
Key Figures
- Fixture 1 TCE
- USD 175,000 over 85 days
- US Gulf via Cape Good Hope to Far East
- Fixture 2 TCE
- USD 77,000 over 65 days
- West Africa to Asia
- Fixture 3 TCE
- USD 88,000 per day for 90 days
- 90-day fixture
- Fixture 4 TCE
- USD 150,000 over 60 days
- Baltic to Asia
- Fixture 5 TCE
- USD 41,000 over 58 days
- Guyana to Europe
- Fixture 6 TCE
- USD 94,000 over 54 days
- West Africa to Asia
- Operating costs
- USD 9,000 per day
- Company operating cost benchmark
- Q4 2025 TCE
- $35,000/day
- Average time charter equivalent per vessel
Historical Context
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Sale of 2005-built vessel for about USD 40M in solid market.
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Hansson family purchased 400,000 shares, lifting stake to 5.2%.
-
Strong Q4 with higher TCE, $11.7M net income and $0.17 dividend.
-
Sale of debt-free 2003 tanker for $25M net, boosting liquidity.
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Ordering two $86M newbuilds and selling older ships for $50M cash.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Monday, March 23, 2026
Dear Shareholders and Investors,
The present situation is tumultuous, leading to very strong results.
The first quarter of 2026 is expected to be much better than the last quarter of 2025, which were reported February 26, 2026.
The infomation below shows the excellent performance.
Fixture 1) From the US Gulf via Cape Good Hope to the Far East. The TCE is USD 175,000 over 85 days.
Fixture 2) From West Africa to Asia. The TCE is USD 77,000 over 65 days.
Fixture 3) A 90-day fixture. The TCE rate is USD 88,000 per day.
Fixture 4) A voyage from the Baltic to Asia. The TCE is USD 150,000 over 60 days.
Fixture 5) From Guyana to Europe. The TCE is USD 41,000 over 58 days.
Fixture 6) From West Africa to Asia. The TCE is USD 94,000 over 54 days.
Fixtures 5 & 6 were concluded before the Middle East war broke out Feb 28 th.
Our operating costs are about USD 9,000/day.
Sincerely,
Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd. www.nat.bm
Contacts:
Bjørn Giæver, CFO
Nordic American Tankers Ltd
Tel: +1 888 755 8391
Alexander Kihle, Finance Manager
Nordic American Tankers Ltd
Tel: +47 91 724 171
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.