Thu, Nov. 12, 11:44 AM
Wed, Nov. 11, 11:58 AM
- Nordic American Tanker (NAT +1.1%) is higher after reporting Q3 earnings that beat expectations.
- NAT says its homogenous fleet and achieved spot rates of ~$35K/day per ship reduced its Q3 operating costs, which helped to keep its cash breakeven below $12K/day per vessel; in Q2 2015 and Q3 2014, spot rates were $38.8K/day and $21K/day per ship, respectively.
- NAT says the level of the Suezmax spot tanker market was healthy during the first three quarters of the year and Q4 is progressing well so far, with achieved spot rates above the average for the first three quarters.
- Says its two newbuildings for delivery in Q3 2016 and Q1 20017 are on schedule.
Wed, Nov. 11, 8:25 AM
Tue, Nov. 10, 5:30 PM
Mon, Oct. 19, 10:21 AM
- JPMorgan is pointing to economic news out of China as a positive sign for tanker stocks.
- The investment firm notes that China was a net exporter of refined products for the third straight month and saw a significant jump in crude oil imports.
- Despite the positive spin from JP, the tanker sector is trading mostly lower on macroeconomic developments, including a sub-7% GDP print from China. Dry bulk shipping stocks are mixed on the day.
- Related stocks: DHT, FRO, NNA, TNP, TNK, NAT, SFL, EURN.
Wed, Oct. 14, 8:33 AM
- Nordic American Tankers (NYSE:NAT) is on watch after the company drops its dividend payout rate.
- Some traders were expecting a larger cut by Nordic than the $0.02 quarterly reduction.
- Shares of Nordic are up 122% over the last 52 weeks.
- NAT -0.12% premarket on light volume.
- Previously: Nordic American Tankers declares $0.38 dividend (Oct. 14 2015)
Wed, Oct. 14, 5:26 AM
Fri, Aug. 21, 6:59 AM
Mon, Aug. 10, 6:16 AM
Sun, Aug. 9, 5:30 PM
Mon, Jul. 27, 7:03 AM
Tue, Jul. 21, 10:32 AM
- The crash in oil prices is good for business for operators of the supertankers capable of hauling more than 2M barrels of crude around the world, such as Frontline (FRO +9.1%), Teekay Tankers (TNK +4.2%), Nordic American (NAT +2.6%), DHT Holdings (DHT +2.4%) and Euronav (EURN +1.5%), whose stocks have been moving up in recent weeks.
- The oil market rout that started in 2014 is a boon that could allow the companies to reduce debt, invest in new vessels and reward shareholders that have stuck with them through some very lean years, FT reports.
- Since the start of the year, the cost of hiring a VLCC has jumped more than 50%, with the rate for shipping oil from Saudi Arabia to Japan - the benchmark supertanker route - rising to $93.6K/day, a seven-year seasonal high.
- The supply of supertankers also has fallen sharply since 2008.
- Other related tickers: GLNG, GNRT, SFL, NAO, ASC, TOO, TK, TGP
Wed, Jul. 15, 6:06 AM
Fri, Jul. 10, 10:33 AM
- Notable movers in the shipping sector include DryShips (DRYS +3.1%), Danaois (DAC +5.6%), and Paragon Shipping (PRGN +1.6%).
- Some names in the volatile sector has been trading off of developments in Greece even with many of the Greece-based companies deriving nearly all their revenue outside the nation.
- On a broader look, the Baltic Dry Index is +21 to 874. The breakdown shows the Cape index is 1279 with a spot price of 9612 vs. 11,149 a year ago, the Panamax index is 1052 with a spot price of 8380 vs. 5432 a year ago, and the Supramax index is 767 with a spot price of 8021 vs. 7099 a year ago.
- The Baltic Tanker Clean Index is 837 vs. 521 a year ago and the Baltic Dirty Index is 857 vs. 786 a year ago.
- The Guggenheim Shipping ETF (NYSEARCA:SEA) is +1.43% on the day and -4.12% YTD.
- Related stocks: TNK, EURN, TGP, NMM, SSW, SFL, TK, SMM, TOO, GMLP, DHT, NM, MATX, NAT, FREE, DSX, SB, FRO.
Wed, Jun. 24, 8:53 AM
- Nordic American Tanker (NYSE:NAT) CEO Herbjorn Hansson issues his mid-year letter to shareholders. A few key points from the company update are listed below.
- "For the second quarter of 2015, we believe that NAT will achieve rates generally at the same level as in the first quarter of 2015. This should result in a strong dividend for 2Q2015 too, a dividend which will be announced in mid-July."
- "We have retained some cash-flow in recent quarters, which will contribute to the financing of fleet expansion."
- "We are resisting the temptation to make large fleet acquisitions."
- NAT +0.5% premarket.
Thu, Jun. 18, 10:21 AM
- Shipping stocks are active on a sustained jump in the Dry Baltic Index.
- The index is up 6.5% on the day and has now rallied over 25% since late May.
- Prices for the Cape, Panamax, and Supramax categories of vessels are all higher.
- Stocks on the move include Diana Shipping (DSX +4.5%), Golden Ocean Group (GOGL +4.1%), DryShips (DRYS +2.5%), Frontline (FRO +1.9%), Navios Maritime Holdings (NM +2.2%), Star Bulk Carriers (SBLK +1.9%), Matson (MATX +2.1%), Euronav (EURN +1.4%), Navios Maritume Acquisition (NNA +2.6%), Nordic American Tankers (NAT +1.1%).
Nordic American Tankers Ltd formerly Nordic American Tanker Shipping Limited is an international tanker company that owns 24 double-hull Suezmax tankers, two of which are newbuildings that average approximately 156,000 dwt each.
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