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Nordic American Tankers Limited (NAT)

NYSE - Nasdaq Real-time price. Currency in USD
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2.6700-0.1300 (-4.64%)
At close: 04:00PM EDT
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  • J
    The 20K represents the total net profit per ship, per day on 70% of fleet already guaranteed under contract. The remaining 30% of this fleet will be open to the spot market making possible even higher income. This is a positive for NAT's future earnings. The actual financials released May 31 for Q1 will tell the story of what NAT's financial trajectory will possible be for Q2. Current world events lead me to believe that NAT is in a positive earnings environment going forward, IMO.
  • M
    The market is obviously not thrilled with 2Q guidance of 20K for 70 percent of days. Based on current rates it appears 20K may be the high water mark for the full quarter. It still produces a net loss but at least Q2 will not result in continued cash drain.
  • J
    Jean Genie
    May take a couple days but I’m banking on profit. Naysayers be happy then with all your gains, lol. Do you really want to stay short much longer?
  • M
    This AM I checked the number of shares outstanding and found it to be 201 million up from the recent 194 million. December 28 it was 180 million. The dilution from the $500 million shelf offering continues. I hope someone can explain how this can help our share price.
  • D
    Time charter equivalent is calculated by taking voyage revenues, subtracting voyage expense, including canal, bunker and port costs, and then dividing the total by the round-trip voyage duration in days. It gives shipping companies a tool to measure period-to-period changes.
  • G
  • A
    I don’t know why this stock is down on the news. TCE for last year 3rd Quarter was $5,60, 4th Quarter was $10,100 and for this Quarter is almost an improvement of %100. That’s a great number in any industry in addition geopolitical bad news tend to favor this industry. I am buying.
  • א
    אני עני
    Q1 result must be good. Herb is releasing it before market open.....
  • W
    A month or so ago, there was a list on the NAT website that said they had 22 tankers leased out with operating expenses of $8,000 per day and revenue of $50,000 per day or a net of $42,000 per ship. That would have come up to over $330 million in yearly revenue or nearly double the previous year. So, what happened to everything if these leases actually existed?????
  • G
    Shorting here with these Tanker rates is suicidal.

    People running the shows have learnt a lot - whether it is a driller, refiner, transporter or trader of Oil.

    They secure themselves very well and not many new ship builds.

    With the pipeline transporting 10’s of millions of crude is shut off only alternative is Sea route.

    With $100 + a Bbl no body cares about shipping charges. It is getting hold of ships for delivery becomes important.

  • S
    there is one thing I speculate in Europe. Sanction on Russia crude oil must pump up NAT price. Europe will need huge amount of oil in tankers soon.
  • g
    The price reflects people worrying about the rising costs of wages and fuels.
  • W
    Nordic American Tankers Ltd (NYSE: NAT) – Delivery today of suezmax newbuilding from Samsung shipyard in South Korea

    May 13, 2022

    Dear Shareholders and Investors,

    Early this morning, we took delivery of a newbuilding suezmax tanker from Samsung Heavy Industries in South Korea. The vessel is about 150,000 tons and has the name of Nordic Harrier, which was the first NAT ship when becoming stocklisted on the New York Stock Exchange September 15, 1995.

    Our new suezmax will commence a contract for six years to ASYAD Shipping Company of the Sultanate of Oman. The contract is producing earnings and cashflow as from delivery from the yard, creating financial stability and a further foothold in this important area.

    Another newbuilding from Samsung is coming at the end of June. This vessel also has a contract for six years to the Sultanate of Oman.

    Our experience over many years is that everything is on schedule when Samsung shipyard is involved.

    For contacts, please see at the end of this communication.
  • G
    The tanker business atleast in the next 12 months seems very bright.

    Pipeline from Russia stalled. They will have to ship around the globe to Europe.

    Even a 5 mln bbls per day needs 5 ships each day if the turnaround is 30 days you talk of 150 ships is need to transport this a point of crude.

    European requirements is much more than that.
  • S
    I am back.. Loaded up 46.000 share at 2.17$. I was hoping HH had a stroke that why it sinking but no news about that. No problem to by on this level. Tanker rate will go 2x in 2 weeks.
  • J
    tried to note last week,rates r down.but if u don't like that then buy more while share price is down.$2.18 now.
  • G
    8000 $ per ship cost to operate.

    They have 20 ships

    Even if they operate 75% ( right now all ships are engaged with much higher rates) $50000 per day they net $40000 per tanker

    15 * 40000 * 360 = 216,000,000

    No wonder when they say they will be debt free it looks doable.

  • A
    It would be oddly satisfying if we found out the plummet was due to a key board error.
  • M
    Here is my take on NAT’s term charters for the two newbuildings. NAT chartered the two vessels for “over $100 million” for 6 years. Using the $100 million number works out to $23k per day per vessel. The vessel price was $56 million each, financed through Ocean Yield over 10 years as a bareboat charter with a purchase obligation at the end, and a couple options during the term. For each vessel NAT paid Ocean Yield $11 million down, financing the balance of $45 million over the 10 years. NAT commented the terms are similar to the 2018 vessels also financed with Ocean Yield. In such case the purchase price after the 10 year lease is $14 million, meaning the terms have a very steep debt payment profile. Amortizing the debt repayment of $31 million over 10 years is $8500 per day. Throw in interest payments of $4-5000 per day, and vessel operating expenses/G&A of $10,000 per day. On a cash basis this appears to be a wash transaction. There is nothing left from NAT’s $23K per day deal with Asayd Shipping over the 6 year term. The best that can be said is that it guarantees payment of a big chunk towards the obligation to Ocean Yield, and after 10 years NAT will only owe $14 million on a 10-year old asset that today would be worth $38 million.
  • T
    If you guys have some dry powder, check out these marine shipping stocks: EGLE, FLNG, GNK, LGP, GOGL, GRIN, KNOP, SBLK. Good Luck.