Nordic American Tankers Ltd (NAT)

[Eurotradr]

One key factor will be to see if they complete the recapitalization by the end of the second quarter (July) as reported in their PRs.

If they draw against their current (and backstop) credit facilities for down payments on the 8+ new vessels mentioned in the last PR and distribute any of the vessel sale proceeds in a dividend things could get sticky. I will be interested to see how they structure the new vessel purchase and over what period of time. The overall market must continue to move in a positive direction before we can get comfortable the recapitalization will be successful. This is still an unknown but things are looking better.