Why Nordic American Tankers Stock Jumped 12.4% Today
Net income was $46.9 million, or $0.22 per share, and management said they would pay a $0.15 per share dividend. Time Charter Equivalent (TCE) rates for vessels were $60,005 per ship in the first quarter, which was the second-best first quarter in 28 years. Supply and demand is unbalanced in the tanker market, which is great for Nordic American Tankers.