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Wed, Jan. 13, 6:18 AM
Dec. 1, 2015, 7:10 AM
- Nordic American Tankers (NYSE:NAT) CEO Herbjorn Hansson issued a strategy update letter to shareholders.
- Hansson reminded that lower oil prices are a positive factor the company.
- "We believe oil demand is developing in a way that will continue to boost demand for transportation," noted the exec.
- The market will be strong enough to support "healthy" dividends, according to Hansson.
Nov. 12, 2015, 11:44 AM
Nov. 11, 2015, 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.
Nov. 11, 2015, 8:25 AM
- Nordic American Tankers (NYSE:NAT): Q3 EPS of $0.29 beats by $0.02.
- Revenue of $66.7M (+63.0% Y/Y) in-line.
- Shares +1.9% PM.
Nov. 10, 2015, 5:30 PM
Oct. 19, 2015, 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.
Oct. 14, 2015, 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)
Oct. 14, 2015, 5:26 AM
- Nordic American Tankers (NYSE:NAT) declares $0.38/share quarterly dividend, -5% decrease from prior dividend of $0.40.
- Forward yield 9.43%
- Payable Nov. 12; for shareholders of record Oct. 29; ex-div Oct. 27.
Aug. 21, 2015, 6:59 AM
- Nordic American Tanker (NYSE:NAT) CEO Herbjorn Hansson and his family increased their stake in the company with a purchase of 100K shares.
- Shares of Nordic American Tankers are up 37% YTD, peaking at $17.45 in July.
Aug. 10, 2015, 6:16 AM
- Nordic American Tankers (NYSE:NAT): Q2 EPS of $0.35 beats by $0.03.
- Revenue of $73.46M (+224.8% Y/Y) beats by $6.55M.
Aug. 9, 2015, 5:30 PM
Jul. 27, 2015, 7:03 AM
- Nordic American Tankers (NYSE:NAT) announces the acquisition of two Suezmax tankers.
- The total purchase price is $122M.
- Delivery of the vessels is expected in September and October.
Jul. 21, 2015, 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
Jul. 15, 2015, 6:06 AM
- Nordic American Tankers (NYSE:NAT) declares $0.40/share quarterly dividend, 5.3% increase from prior dividend of $0.38.
- Forward yield 10.09%
- Payable Aug. 12; for shareholders of record July 29; ex-div July 27. (PR)
Jul. 10, 2015, 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.
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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