Nordic American Tankers Stock Price, News & Analysis

Nordic American Tankers (NAT) reported a net profit of $8.7 million ($0.04 per share) for Q3 2024, up from $7.5 million in Q3 2023. The company secured time-charter contracts worth approximately $125 million with international and national oil companies. NAT's fleet achieved an average time charter equivalent of $30,656 per day per ship, with daily operating costs around $9,000. The company declared its 109th consecutive quarterly dividend of $0.04 per share, payable January 16, 2025. NAT plans fleet expansion and notes that its ships have operated in 68 countries over the past five years. The company emphasizes its non-participation in 'dark fleet' operations and avoidance of Suez Canal routes.

Nordic American Tankers (NYSE:NAT) held its Annual General Meeting of Shareholders on November 21, 2024, in Monaco. Shareholders approved the election of Herbjorn Hansson as Director & Chairman of the Board, Alexander Hansson and Jenny Chu as Directors, and the appointment of KPMG as independent auditors. The board maintains authority to fill any vacant position to maintain a four-member board structure. The company reports being in a strong market with positive prospects.

Nordic American Tankers (NYSE: NAT) has issued a statement regarding the upcoming US presidential election's impact on their business operations. The company's Chairman & CEO, Herbjorn Hansson, stated that they do not expect any noticeable immediate impact on their operations regardless of the election outcome.

Nordic American Tankers (NYSE: NAT) announced that Alexander Hansson, Non-Executive Vice Chairman and son of Founder, Chairman & CEO Herbjorn Hansson, has purchased 50,000 shares of NAT at $3.4851 per share. This acquisition brings Alexander Hansson's private ownership to 3,200,000 shares in the company.

The press release highlights that the Hansson family continues to be the largest private shareholder group in NAT. This insider buying activity demonstrates confidence in the company's future prospects and aligns management interests with those of shareholders.

Nordic American Tankers (NYSE: NAT) announced that Alexander Hansson, Non-Executive Vice Chairman and son of Founder, Chairman & CEO Herbjorn Hansson, has purchased 50,000 shares of NAT at $3.59 per share. This transaction increases Alexander Hansson's private ownership to 3,150,000 shares in the company.

The press release emphasizes that the Hansson family remains the largest private shareholder group in NAT. This insider buying activity may be seen as a signal of confidence in the company's future prospects.

Nordic American Tankers (NYSE: NAT) has announced a significant five-year time charter contract with a major international energy company. The contract, set to begin in November 2024, offers a rate in the mid-high 30's. This long-term agreement represents a notable development for NAT, potentially providing stable revenue and enhancing the company's financial outlook.

The announcement, made by NAT's Founder, Chairman & CEO Herbjorn Hansson, underscores the company's ability to secure substantial contracts in the tanker industry. While specific details about the energy company were not disclosed, the duration and rate of the contract suggest a favorable deal for NAT.

Nordic American Tankers (NYSE: NAT) has announced its 2024 Annual General Meeting of Shareholders (AGM) will be held on November 21, 2024. The record date for shareholders entitled to receive notice and vote at the AGM is set for September 16, 2024. The company will file the Notice of the Meeting and Proxy Statement with the Securities and Exchange Commission (SEC) on a Form 6-K after market close on September 23, 2024. This information is important for NAT shareholders who wish to participate in the company's annual corporate governance process.

Nordic American Tankers (NYSE: NAT) has announced a shareholder/investor conference call scheduled for Thursday, September 12, 2024. The call will take place at 8 AM US Eastern Standard Time (EST) / 2 PM Central European Time (CET). Participants can join via webcast or dial-in using provided numbers and the Conference ID 3546620. The company has provided multiple dial-in options for various locations, including Norway, UK, USA, and Canada, to ensure easy access for international investors. This conference call presents an opportunity for shareholders and investors to engage with the company's management and potentially receive updates on NAT's operations and performance.

Nordic American Tankers (NYSE: NAT) has announced an upcoming Investor Conference Call scheduled for Thursday, September 12, 2024. The call will take place at 8 AM Eastern Standard Time (EST) / 2 PM Central European Time (CET). The main objective of this conference is to provide shareholders and investors with an update on the company's current status and future prospects. Herbjorn Hansson, the Founder, Chairman & CEO of Nordic American Tankers, signed the announcement. Dial-in details for the conference call will be provided at a later date.