Tue, Apr. 14, 6:22 AM
Thu, Mar. 19, 6:50 AM
- Nordic American Tankers (NYSE:NAT) CEO Herbjorn Hanssen discloses in a letter to shareholders a purchase of 50K shares.
- The exec paid $10.50 per share for the block.
- Hanssen expects the company to make an announcement on a Q1 dividend in mid-April which will should be "significantly higher" than the payout in Q4 of 2014.
Mon, Feb. 9, 7:07 AM
- Nordic American Tankers (NYSE:NAT): Q4 EPS of $0.01 misses by $0.08.
- Revenue of $43.07M (+110.7% Y/Y) misses by $5.82M.
Sun, Feb. 8, 5:30 PM
Fri, Jan. 9, 12:25 PM
- Frontline (FRO +10.1%) has now jumped 63% this week amid speculation that a plunge in crude prices is spurring demand for the vessels to store cargoes.
- “The re-emergence of floating storage is what could move the crude tanker market this year from being rather good to possibly very very good," says a shipping analyst at Pareto Securities in Oslo.
- Traders may park as much as 60M barrels of oil on tankers in the coming months, according to consulting firm JBC Energy.
- Among other tanker companies: TK +1.2%, TNK +3.4%, TOO -0.3%, TGP -0.1%, TNP -0.7%, GLNG -1.9%, NAT -0.6%, DHT +3.1%.
- Earlier: Reuters: Oil glut sparks top traders to book supertankers for storage at sea
Fri, Jan. 9, 6:26 AM| Comment!
Thu, Jan. 8, 12:36 PM
- Some of the world's largest oil traders are hiring supertankers to store crude at sea, Reuters reports: Trading firms including Vitol and Trafigura, and energy major Shell (RDS.A, RDS.B) are said to have booked crude tankers for up to 12 months in the past week.
- Freight brokers and shipping sources consider the flurry of long-term bookings unusual and suggests that traders could use the vessels to store excess crude at sea until prices rebound, repeating a popular 2009 trading gambit when prices last crashed.
- Analysts at JBC Energy say floating storage, while a sign of an oversupplied market, may provide some temporary support for oil prices in the coming weeks.
- Related tanker companies: TK, TNK, TOO, TGP, TNP, FRO, GLNG, NAT, DHT.
Wed, Jan. 7, 9:43 AM
- Select shipping stocks are outperforming off of some fresh positive comments on the sector by analysts.
- Frontline (FRO +9.2%), following up on yesterday's brisk rally, is leading the charge.
- Gainers: DHT Holdings (DHT +6.1%), Teekay Tankers (TNK +1.7%), Nordic American Tankers (NAT +2.5%), Ship Finance International (SFL +0.9%).
Tue, Jan. 6, 7:42 AM
- Shares of Star Bulk Carriers (NASDAQ:SBLK) are on watch after Global Hunter initiates the company with a Buy rating.
- The investment bank is active in the sector today with Buy initiations on Baltic Trading (NYSE:BALT) and Nordic American Tankers (NYSE:NAT) also on the books.
- Sector watch: Dry bulk shipping stocks have been hurt by low daily spot rates in the market and macroeconomic concerns.
Dec. 12, 2014, 10:09 AM
- The number of supertankers sailing to China surges to record highs amid signs that crashing oil prices are leading the country to stockpile.
- Bloomberg reports 83 VLCCs are bound for Chinese ports, which would transport 166M barrels (assuming standard cargoes) for the largest amount since at least Oct. 2011; daily shipping rates on the tanker industry’s benchmark trade route from the Middle East to Asia jumped to $81.5K yesterday, the highest since Jan. 2010, according to Baltic Exchange data.
- Oil tanker operators are higher: FRO +24.5%, DHT +6.9%, TNK +2.5%, NAT +1.4%.
Dec. 10, 2014, 6:55 AM| 8 Comments
Dec. 9, 2014, 9:05 AM
- Nordic American Tankers (NYSE:NAT) issues a strong statement on the impact of lower oil prices on its business.
- "Lower oil price leads to increased oil demand and economic growth, stimulating the need for transportation," maintains the company.
- NAT is down 5.6% in premarket action amid the developments in China andis 13.5% off its December high.
Dec. 1, 2014, 7:54 AM| Comment!
Nov. 26, 2014, 5:37 PM
Nov. 20, 2014, 6:59 AM
- Nordic American Tankers (NYSE:NAT) Chairman Herbjørn Hansson sends a letter to shareholders to discuss the impact of lower oil prices.
- The exec says the development will have a positive effect on the company's business.
- "We see in the shipping market that volumes of oil being transported are increasing."
Oct. 7, 2014, 7:00 AM
NAT vs. ETF Alternatives
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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