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Nordic American Tankers (NAT -3.2%) dips after reporting its Q3 loss widened as spot shipping...

Nordic American Tankers (NAT -3.2%) dips after reporting its Q3 loss widened as spot shipping rates dropped by more than half. Virtually all of the company's fleet is exposed to spot rates. The average daily rate fell 52% to $8,000 from the prior quarter. Net voyage revenue also dropped 56% to $11.2M, while operating expenses rose by 4.8%.
Comments (2)
  • J. Stack
    , contributor
    Comments (284) | Send Message
     
    NAT with little debt and FRO with tons of debt, both formerly queens of dividends, are in a no win situation--so out of them for now. Sad.
    8 Nov 2011, 09:39 AM Reply Like
  • JET1C
    , contributor
    Comments (123) | Send Message
     
    Read Herbjørn's letter to share holders.You may feel a little better about owning NAT.
    8 Nov 2011, 10:48 AM Reply Like
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