May 15, 2019 10:21 AM ET|About: Nordic American Tankers L... (NAT)|By: Vandana Singh, SA News Editor
Nordic American Tankers rises (NAT +10.9%) says that Q1 results are the best result for NAT since Q2 2016.
Q1 TCE for vessels came in at an average of $26,025 per day per ship up ~30% from $20,100 in Q4 2018.
Reports net profit of $5.6M, a turnaround from loss of $19.7M last year
Net operating earnings improved by $12.9M from Q4 to $18.3M.
Adjusted net operating earnings was $34.3M, up from $4.4M
Repaid debt of $17.7M, and net debt stands at $341M; refinanced credit facility with $306M secured loan and registered $40M ATM.
The company expects to see volatility in the tanker market during 2019 due to refinery adjustments for new fuel regulations coming into effect from 2020; however, these adjustments will be positive for tanker demand and NAT expects 2019 to be a better year than 2018.
Fleet consists of 23 tankers with an aggregate cargo capacity of 23M barrels of crude oil
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Recent NAT News
- Nordic American Tankers Ltd (NYSE: NAT) – Alexander Hansson buys more NAT shares • GlobeNewswire Inc. • 04/04/2024 01:50:49 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Alexander Hansson buys more NAT shares • GlobeNewswire Inc. • 03/12/2024 01:57:22 PM
- Nordic American Tankers Ltd (NYSE: NAT) – A snapshot of the present market conditions • GlobeNewswire Inc. • 03/07/2024 02:08:12 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Alexander Hansson buys more NAT shares • GlobeNewswire Inc. • 03/04/2024 02:53:56 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/01/2024 10:09:14 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Report as per December 31, 2023 – Dividend is up and solid prospects going forward • GlobeNewswire Inc. • 02/29/2024 10:23:30 AM
- Nordic American Tankers Ltd (NYSE: NAT) – Founder, Chairman & CEO outlines the international reach of the NAT operations • GlobeNewswire Inc. • 02/15/2024 02:39:35 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/02/2024 07:18:07 PM
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- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/30/2023 09:37:40 PM
- Correction: Nordic American Tankers Ltd (NYSE: NAT) – Board Member Alexander Hansson buys more NAT shares • GlobeNewswire Inc. • 11/30/2023 03:00:20 PM
- Nordic American Tankers Ltd (NYSE: NAT) – • GlobeNewswire Inc. • 11/30/2023 02:56:38 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Report as per September 30, 2023 – The direction is up in a strong market • GlobeNewswire Inc. • 11/29/2023 11:54:54 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 11/16/2023 09:26:56 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Announces Results of its 2023 Annual General Meeting of Shareholders • GlobeNewswire Inc. • 11/16/2023 02:26:52 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Most recent market fixtures for our ships • GlobeNewswire Inc. • 11/14/2023 04:58:11 PM
- Nordic American Tankers Ltd (NYSE: NAT) – A Dividend Company • GlobeNewswire Inc. • 10/25/2023 12:57:01 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Purchase of suezmax tanker - increasing the NAT fleet to 20 ships • GlobeNewswire Inc. • 10/19/2023 09:22:40 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/02/2023 08:11:53 PM
- Nordic American Tankers Ltd (NYSE: NAT) – 2023 Annual General Meeting of Shareholders (AGM) • GlobeNewswire Inc. • 10/02/2023 11:59:56 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/29/2023 08:02:03 PM
- Nordic American Tankers Ltd (NYSE: NAT) – The market is good for our ships • GlobeNewswire Inc. • 09/29/2023 02:36:25 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Founder, Chairman & CEO buys more share in NAT (repeat) • GlobeNewswire Inc. • 08/29/2023 02:43:23 PM
- Nordic American Tankers Ltd (NYSE: NAT) – Founder, Chairman & CEO buys more shares in NAT • GlobeNewswire Inc. • 08/29/2023 01:48:38 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/28/2023 08:58:54 PM
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