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Nordic American Tankers Limited (NAT)

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2.0700-0.0600 (-2.82%)
At close: 04:00PM EDT
2.0500 -0.02 (-0.97%)
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  • K
    Katitsa
    In a new report the United Nations Conference on Trade and Development (UNCTAD) has detailed how the war in the Ukraine is increasing the cost of shipping around the world. Russia’s position too as a leading oil and gas exporter is also pushing up energy prices worldwide, the UNCTAD study shows.

    “Confronted with trade restrictions and logistical challenges, the cost of oil and gas has increased as alternative sources of supply, often at more distant locations, are called upon,” the report says.

    Daily rates for smaller-size tankers, which are key for regional oil trading in the Black Sea, Baltic Sea and Mediterranean Sea regions, have dramatically increased.
  • W
    WILLIAM
    Nordic American Tankers Ltd (NYSE: NAT) – Two suezmax newbuildings delivered and two long term contracts established



    Wednesday, June 29, 2022

    Dear Shareholders and Investors,

    On May 13, 2022, we took delivery of the first of two recent suezmax tanker newbuildings from Samsung shipyard in South Korea. The vessel, which can carry one million barrels of oil, was named Nordic Harrier. We are always pleased to do business with South Korean shipbuilders, since their vessels are first-rate and always delivered on schedule.

    The second newbuilding, to be named Nordic Hunter, will be delivered in a few days and will also commence a contract for six years to ASYAD Shipping Company of the Sultanate of Oman. The contract begins promptly upon delivery from the yard, immediately producing earnings and cash-flow and further strengthening the NAT position in the crucial Middle East region.

    Both newbuildings mentioned in this message are fully financed via our partner Ocean Yield, a company controlled by Kohlberg Kravis Roberts (KKR), which is headquartered in the US.

    The NAT fleet consists of 20 vessels, all of them suezmax tankers, thus ensuring us both the reliability and flexibility of a uniform operation.
  • L
    Larry
    Suez Daily Rates need to be $31,000 just to break even to cover the $13 million of quarterly depreciation.

    Assuming $20,000/day for 64 days (70% of 2022Q2 quarter) and current $27,500/day for the remaining 27 days (30% of 2022Q2), gets revenue to $24.5 million + $14.5 million = $39 million.

    Deducting $36.4 million operating expenses + $6 million interest expense equal to $42.4 million expenses, leaves a $3.4 million loss. Dividing by 198 million shares = 2 cent loss per share.
  • J
    Johnny
    Friday starts the 3rd Q. Lets see how fast Nat's price rises when new active fund manager teams re-adjusts client portfolios. They will look to regain their previous market losses by taking a more proactive approach to beat market average returns in this recession (GDP has fallen, Jan-June). That's right, we are in a recession, deal with it.
  • J
    Johnny
    The EPS consensus has increased from Q1 -$0.13 to -$0.02, an improvement of +$0.11. Germany has been the top EU buyer of Russian oil, importing 687,000 bpd of crude oil and 149,000 bpd of refined products in November 2021, based on the latest IEA data. The EU has imported 14.89 million bpd since 2019. If Nat could improve her EPS 11 cents under current conditions, how much more will she make when Germany and the EU sign the leases necessary to carry an additional 16 million bpd? What say you short sellers.
  • k
    kactus jack
    Did an investment firm upgrade NAT? If not why is stock up so much today? Thanks
  • M
    MOBIN
    Guys, check out (http://Achieverspot.tech). They have been crushing it lately while NAT barley does anything at all.
  • G
    Gamer
    Short sellers will get a margin call at $4/share.
  • J
    Johnny
    TD Ameritrade/Markit On Demand; NAT Nordic American Tanker Ltd
    First Call Change in Consensus Recommendations
    Consensus Recommendations changed from Hold to Buy
  • J
    J
    Nordic American Tankers (NYSE:NAT) Stock Rating Reaffirmed by Clarkson Capital
    https://www.marketbeat.com/instant-alerts/nyse-nat-a-buy-or-sell-right-now-2022-06-2/
  • J
    Johnny
    Looks like Nat will be back in the black ink for Q3.
  • J
    J
    I see a lot of negative talk about NAT. Well I would like for someone to tell me what tanker company is during so great in this industry that is compatible to NAT in size. Forget size. I will give you the answer! None of them. The whole tanks industry sucks when you would think right now it would be great and not just getting by.
  • J
    J
    Product tankers continue high earnings as suezmaxes jump
    The Baltic Clean Tanker Index rose just over 13% this week, while suezmaxes made major gains
  • h
    hoge
    TCE earnings for suezmax crude tankers rebounded nearly $6,000 in one session to approach $13,500 per day, just days after touching the lowest level since February.
    (TradeWinds 14 June, & Baltic Exchange)

    In addition ECB released a financial analysis survey on the 13th, showing that the euro area has avoided a recession this year.
    After bottoming out in the second quarter, the economy is expected to accelerate rapidly (Reuters 13 June).

    For these reasons, I closed my short position this week. We plan to gradually increase long positions while observing changes in TCE over the next few weeks.
  • W
    WILLIAM
    Nordic American Tankers Ltd (NYSE: NAT) – Report March 31, 2022 (First quarter 2022) – Daily rates improving
    Tuesday, May 31, 2022

    Dear Shareholders and Investors,

    Please see HIGHLIGHTS and enclosed 1Q 2022 report below.

    HIGHLIGHTS:

    The future of our business is sound



    The uncertainty created by the Russia/Ukraine conflict is reshaping the energy map of the world long term. Oil will have to be sourced from a myriad of places, often involving longer (ton-mile) and thus more lucrative voyages. The NAT fleet of versatile suezmax tankers is ideally situated to take advantage of these changing circumstances. We have not carried Russian oil during the last year.

    New oil tankers joining the global fleet are in short supply going forward. Major shipyards are reporting they have little or no capacity to build suezmax tankers before 2026. This is a very bullish data point both for the market over the long run and for NAT.

    The average TCE for our active fleet during the first quarter of 2022 came in at $8,870 per day per ship. So far in the second quarter of 2022, 70% of our fleet is booked at an average TCE of about $20,000 per day per vessel (+ 125%). This is the best illustration possible of an advantageous market for our suezmax tankers.

    With global oil inventories at critically low levels and the present political uncertainties, the improvement in tanker markets has accelerated.

    We recorded a net loss of -$27 million or an EPS of -$0.14 for the first quarter 2022. The same quarter last year saw a net loss of -$25.0 million and a corresponding EPS of -$0.16 based on the average number of shares outstanding in the quarter.

    The cash dividend for 1Q 2022 is 2 cent ($0.02) per share, payable on Wednesday July 6, 2022, to shareholders on record Tuesday June 14, 2022. This is our 99th consecutive quarterly dividend payment.

    NAT has one of the lowest debt levels among publicly listed tanker companies. The net debt of the company as per March 31, 2022 is $226.9 million or $11.3 million per vessel. This provides the company with financial flexibility. Our objective is to become debt free.

    Our newbuilding, The “Nordic Harrier” built by Samsung in South-Korea was delivered on schedule May 13, 2022. The second newbuilding will be delivered at the end of June. Both vessels are commencing six year time charters immediately upon delivery from the yard, ensuring earnings, cashflow and financial stability. The vessels are fully financed.

    We have during the first four months of 2022 sold three of our 2002 built vessels. The ships were delivered to new owners on February 18, March 23 and April 12, 2022 respectively. A total of four vessels have been sold since we announced plans to refresh our fleet. The proceeds from these sales, which totalled about $60 million were used to pay down debt. We expect to sell one more 2002 suezmax at about $16 million.

    Financial information for the first quarter of 2022 and for other periods is included later in this report - see link below.

    For contacts, please see at the end of this communication.



    www.nat.bm




    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

    Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

    The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.

    The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking .
  • א
    אני עני
    And we are above 2 bucks......
  • A
    AL
    India is paying 15.6 million to scrap a suezmax tanker. Nordic Moon was sold for 16million. The ship is on its way to the United Arab Emirates for pick up of oil. Now this tanker is competing with NAT. $400,000.00 is nothing to sneeze at, but in the long run I think they would have been better off if they scrapped it.
  • j
    joe
    A. "Let's not and say we did"?

    Q. If the EU will be relying on tankers for oil because they are shutting down pipelines from Russia, then why are tanker stocks not moving?
  • J
    J
    Tanker Demand to Grow 3.5% - 5.6% as Europe Avoids Russian Oil - Asia Imports More

    https://ihsmarkit.com/research-analysis/tanker-demand-to-grow-35-56-as-europe-avoids-russian-oil-asia-.html
  • W
    WILLIAM
    Nordic American Tankers Ltd (NYSE: NAT) -- Russia/Ukraine - impact on our business
    10:13 AM ET 6/13/22 | GlobeNewswire

    Nordic American Tankers Ltd (NYSE: NAT) -- Russia/Ukraine - impact on our business

    Monday, June 13, 2022

    Dear Shareholders and Investors,

    Our business is constantly shaped by news. As we approach the fifth month of the crisis between Russia and Ukraine, we can better see how this situation is reshaping the flow of energy itself.

    A key element in this new reality is sea transportation. The NAT fleet of suezmax tankers is more important than ever in meeting the challenges of this new energy landscape. The loading capacity of our tankers is one million barrels each.

    Two weeks ago, OPEC and Saudi Arabia agreed to a larger increase in their oil production than the already-scheduled 400,000 barrels. The new increase now will be 648,000 barrels in July and again in August. This translates to more oil on the water and higher demand for the NAT suezmax tankers.

    EU also agreed on a ban of Russian Oil. Europe imported about one third of its oil from Russia before the events in Ukraine unfolded.

    Going forward, Europe can be expected to source a large part of this oil from other suppliers further away, such as West Africa, Middle East and Americas. This translates to longer distances and more need for our suezmax tankers.

    Last time Nordic American had Russian oil on board our tankers was in April 2021.

    There is a strong pressure on oil producing countries to increase their production. Oil is needed to create welfare -- this is an established fact for decades.

    The low supply of new oil tankers joining the global fleet in the coming years is positive for NAT. Major Asian shipyards report there is limited yard capacity to deliver large oil tankers before 2026, creating favorable supply/demand dynamics for our fleet of versatile suezmax tankers.

    For contacts, please see at the end of this