Nordic American Tankers Stock Price, News & Analysis

On February 18, 2022, Nordic American Tankers (NAT) reported significant developments including the sale of two vessels, "Nordic Sirius" and "Nordic Mistral," generating over USD 30 million in cash. Additionally, NAT secured six-year time charter contracts with Asyad Shipping Co for two new vessels, projected to yield over USD 100 million in freight income. Following these transactions, NAT now controls 23 Suezmax Tankers, enhancing their fleet capacity. The company expresses a positive outlook, stating, 'The way forward is upwards.'

Nordic American Tankers has secured two six-year Time Charters with ASYAD Shipping Company for its newbuild Suezmax vessels, set to deliver in May and June 2022. These contracts will ensure a revenue exceeding USD 100 million over the charter duration, generating significant cash flow, which represents over 60% of the vessels’ initial costs. Currently, NAT operates a fleet of 23 vessels and emphasizes its focus on long-term charter stability while also engaging in spot market trading to capitalize on improving market conditions.

Nordic American Tankers has successfully completed the sale of the Suezmax vessel "Nordic Mistral," built in 2002, as part of its fleet adjustment program. This follows the earlier sale of "Nordic Sirius" on October 6, 2021. Both transactions netted approximately $30 million for the company, strengthening its financial position. Following these sales, the company maintains a fleet of 23 Suezmax tankers, which includes two newbuilds scheduled for delivery in May and June 2022.

Alexander Hansson, a Board Member of Nordic American Tankers Ltd (NAT) and son of CEO Herbjorn Hansson, purchased 50,000 shares at $1.557 each, increasing his total holdings to 1,185,000 shares. The Hansson family continues to be the largest private shareholder in NAT. Alexander expressed strong belief in NAT's future, signaling potential positive outlook for investors. The press release also includes a cautionary statement regarding forward-looking statements, highlighting uncertainties that could impact future performance.

On December 20, 2021, Nordic American Tankers Ltd. (NAT) shared positive outlooks in a letter to shareholders, noting increasing oil demand and low global inventories. The company highlighted its low debt levels, which provide financial maneuverability. NAT's ships operate globally, enhancing opportunities, and board members have increased their shareholdings, indicating confidence in the company's future. Despite forward-looking statements, the company remains cautious about various market uncertainties, including oil production fluctuations and operating expenses.

NAT shares a year-end message with investors, highlighting positive trends in oil demand and low global inventories.

They report one of the lowest debt levels in the tanker industry, offering operational flexibility.

The board members have recently increased their shareholdings, indicating confidence in the company’s future.

NAT remains committed to maximizing earnings and dividends while continuing global operations.

Nordic American Tankers Ltd (NAT) reported significant increases in share ownership among its Board members. Alexander Hansson acquired 150,000 shares, raising his total to 1,135,000 shares. Jim Kelly holds 210,000 shares, while Doug Penick, who joined the Board on July 19, 2021, owns 175,000 shares. The Hansson family remains the largest private shareholder with nearly 5 million shares. This active share purchasing reflects strong confidence from the Board in the company's future prospects.

Alexander Hansson, a board member of Nordic American Tankers Ltd (NAT) and son of the founder, has purchased 50,000 shares at $1.9898 each, increasing his stake to 1,135,000 shares. The Hansson family remains the largest private shareholder in NAT. Alexander expressed confidence in NAT's future prospects after the recent acquisitions, suggesting a positive outlook for the company and its stock. The recent transactions indicate potential insider confidence, which may positively influence investor sentiment.

Alexander Hansson, a Board member of Nordic American Tankers, purchased an additional 50,000 shares at $1.8833 each, increasing his total ownership to 1,085,000 shares. The Hansson family remains the largest private shareholder in the company. Alexander expressed optimism about NAT's future prospects. The announcement highlights the commitment of the Hansson family to the company's success, potentially strengthening investor confidence in NAT.