Nordic American Tankers Stock Price, News & Analysis

Nordic American Tankers Ltd will host an investor conference call on March 7, 2023, at 8 AM EST. Shareholders can join via webcast or dial-in using various international numbers provided. Participants need to enter the conference ID 5261332 to access the call. The company emphasizes the importance of identifying oneself clearly during the call-in process. The press release includes a cautionary note regarding forward-looking statements and highlights various risks that could affect future performance, including market conditions and operational expenses.

On February 28, 2023, Alexander Hansson, a Board Member of Nordic American Tankers Ltd (NAT), purchased 75,000 shares at $4.44 each. This acquisition brings his total ownership to 2,075,000 shares, reinforcing the Hansson family's position as the largest private shareholder group in the company. This purchase may indicate confidence in NAT's future performance, which could potentially enhance investor sentiment.

Nordic American Tankers Ltd (NAT) reported a robust performance in 4Q 2022, with a net profit of $36 million, a significant increase from $10 million in 3Q 2022. This resulted in an EPS of $0.17, up from $0.05. Average Time Charter Equivalent (TCE) for spot vessels was $57,340 per day, significantly up 76% from the previous quarter. The company declared a quarterly dividend of $0.15 per share, payable on March 28, 2023. NAT maintains strong financial health with low debt levels and a cash position of approximately $90 million as of now, compared to $34.7 million a year prior. Positive market conditions are expected to continue into 1Q 2023.

Nordic American Tankers Ltd will release its 4Q 2022 earnings on February 27, 2023, prior to NYSE opening. An Investor Conference Call is scheduled for March 7, 2023, at 8 AM EST for company updates. Dial-in details will be shared later. The release includes a cautionary statement regarding forward-looking statements, highlighting that actual results may differ due to various factors such as market conditions, operating expenses, and geopolitical events. The communication encourages stakeholders to review SEC filings for more insights.

Nordic American Tankers Ltd will release its fourth quarter and full year 2022 earnings report on February 27, 2023, before the NYSE opens. This announcement was made to shareholders and investors, emphasizing the company's commitment to transparency regarding its financial performance.

The report is anticipated to provide insights into the company's financial health, which could influence investor decisions and market performance.

Nordic American Tankers Ltd (NAT) expresses optimism for 2023, fueled by recent contract wins, reflecting daily rates between $40,000 and $50,000 for 30-50 day periods. The geopolitical climate, particularly due to the Ukraine conflict, drives increased oil demand, especially from Asian markets. NAT anticipates benefits from a historically low supply of Suezmax tankers and increasing oil requirements as economies grow. The company highlights challenges in new ship investments due to rising costs and regulations, positioning itself strategically within the market for future opportunities.

Nordic American Tankers Ltd. held a conference call on December 2, 2022, where over 150 shareholders participated, highlighting the company's strong market position. The firm acknowledged numerous requests for transcripts, directing interested parties to their website for access. In January 2023, further insights into the favorable market conditions for their vessels will be shared. The company expressed gratitude towards shareholders and emphasized the robust market, stating it is the best seen in decades.

Nordic American Tankers Limited announced recent contracts for its suezmax ships, indicating strong market activity. Key contracts include:

• Voyage from West Africa to US East Coast, TCE above $70,000/day for over 40 days.
• Voyage from Arabian Gulf to the Far East, TCE above $70,000/day for over 30 days.
• Voyage from South America to UK/Continent, TCE above $80,000/day for over 40 days.
• Voyage from US Gulf to UK/Continent, TCE above $70,000/day for over 45 days.
• Voyage from Arabian Gulf to Singapore area, TCE above $50,000/day for over 30 days.

Operating costs are approximately $8,000/day.

On December 2, 2022, Nordic American Tankers Ltd. conducted an Investor Conference Call. A transcript of the discussion is available upon request via email. The conference call provided insights into the company's operations and future strategies, highlighting its commitment to transparent communication with shareholders. The call aimed to address investor inquiries and foster engagement with the financial community. For access to the transcript, interested parties may contact Liv-Heidi Henriksen.