Nordic American Tanker Ltd
NYSE:NAT
Nordic American Tanker Ltd
Nordic American Tankers Ltd. operates as an international tanker company. The firm's fleet consists of approximately 23 Suezmax crude oil tankers. The company operates its vessels either in the spot market or on longer term time charter agreement. The firm's tankers operating in the spot market are chartered for a single voyage. The vessels in the Company's fleet are homogenous and interchangeable as they have approximately the same freight capacity and ability to transport the same type of cargo. The firm's vessels include Nordic Light, Nordic Cross, Nordic Cosmos, Nordic Vega, Nordic Zenith, Nordic Sprinter, Nordic Luna, Nordic Skier, Nordic Castor, Nordic Pollux, Nordic Star, Nordic Space, Nordic Aquarius, Nordic Cygnus and Nordic Tellus.
Nordic American Tankers Ltd. operates as an international tanker company. The firm's fleet consists of approximately 23 Suezmax crude oil tankers. The company operates its vessels either in the spot market or on longer term time charter agreement. The firm's tankers operating in the spot market are chartered for a single voyage. The vessels in the Company's fleet are homogenous and interchangeable as they have approximately the same freight capacity and ability to transport the same type of cargo. The firm's vessels include Nordic Light, Nordic Cross, Nordic Cosmos, Nordic Vega, Nordic Zenith, Nordic Sprinter, Nordic Luna, Nordic Skier, Nordic Castor, Nordic Pollux, Nordic Star, Nordic Space, Nordic Aquarius, Nordic Cygnus and Nordic Tellus.
Market Strength: Management describes current tanker market conditions as the best seen in 50 years, with scarcity of ships driving higher rates and vessel values.
Fleet Supply: The order book for new tankers remains very low, with little new supply expected over the next two to three years.
Dividend Commitment: The company has paid dividends for over 100 consecutive quarters and intends to prioritize and significantly increase dividends once debt is repaid.
Debt Reduction: Nordic American Tankers expects to repay all debt to Beal Bank of Dallas in about a year, aiming to become debt free.
Spot Market Exposure: The majority of the fleet (15 out of 19 tankers) operates in the spot market, allowing the company to benefit directly from strong rates.
Environmental Focus: Active speed management is used to reduce emissions and fuel consumption, with slower speeds significantly lowering bunker oil use.
Customer Base: The company’s main customers are large, reputable oil companies such as ExxonMobil, Shell, BP, Total, and Equinor.
