Nordic American
Nordic American Tankers Resolve US Detention Issue
One of Nordic American's Suezmax tankers had to stay in a US port about 10 days longer than planned following a detention in December 2012. In the press release of December 6, 2012, Nordic American Tankers (NAT) announced that it was working closely with US authorities to provide the information that they requested. NAT is pleased that it has been confirmed now that no charges have been lodged or will be lodged against them in connection with this incident. The company adds that this ship has been trading all the time and continues to do so.
NAT: Newbuilding Suezmax Tanker Delivered
Nordic American Tankers Limited (NAT) has taken delivery of its second suezmax newbuilding tanker of 158,000 deadweight tons built at Samsung Heavy Industries Co., Ltd., South Korea. The Nordic Zenith was delivered to the Company November 8, 2011. At the end of 2010, Nordic American had 15 vessels employed in the market. Through disciplined financial management and a well-defined operating model, the Company now has a fleet of 20 suezmax vessels including the Nordic Zenith
NAT to Purchase Two More Tankers
Nordic American Tanker Shipping Ltd. agreed to acquire two Suezmax tankers, bringing its total Suezmax tanker total to 12. These vessels, one built in 2002 and one in 2003 in the Samsung shipyard in South Korea, are sister vessels to the company's 10th vessel (built 2003) whose acquisition was announced on July 17. The aggregate price for the three sister vessels is $246m. All the twelve vessels of the company have double hull
Nordic American Tanker Shipping Takes Delivery of Suezmax
Nordic American Tanker Shipping Ltd. announced that the company has taken delivery of the suezmax vessel that it agreed to acquire in July this year. The 2003 built suezmax tanker has been named Nordic Apollo and was taken over today November 09, 2006. Including the Nordic Apollo the fleet of the Company has increased from three to ten suezmax vessels over the last 24 months. The vessel is employed in the spot market thus increasing the Company's vessels with spot market exposure from
Charter Rates Boost for Tanker Owners
Oil tanker owners are celebrating one of the industry's most notable turnrounds after charter rates for some vessel classes multiplied around seven times in the space of a few weeks. Owners of Very Large Crude Carriers (VLCCs), capable of carrying 2m barrels of oil, have been chartering their vessels for as much as $150,000 a day in the past two weeks, against only just over $20,000 in early November. The spike results mainly from industry fears about the effect on tankers of the strong
Nordic American Tankers Offer Shares
The company is to offer $87 million aggregate amount of common shares to the public to help fund its expansion programme. The Company's Chairman and Chief Executive Officer, Mr. Herbjørn Hansson is expected to purchase about $1.5 million worth of common shares in the offering on the same terms as other investors. The net proceeds of the offering are expected to be used to pay for acquisitions under our expansion program, including the tankship Nordic Future
Nordic Tankers Joins Nordic Exchange
Nordic Tankers, a Danish shipping company, has its starting point back in 1984. The company cooperates with many other companies within the international shipping industry. Nordic Tankers is Listed on the Copenhagen Stock Exchange joins the Industrials Sector on the Nordic Exchange. Nordic Tankers has experienced a significant growth in terms of earnings and capital. The earnings raised in connection to the listing on the Nordic Exchange will be used to develop the company further
Nordic American Tankers Ltd. Reachs Out to Shareholders
Nordic American Tankers Ltd. Letter to Shareholders From the Chairman and CEO - NAT Is Different. Dear Shareholder, It is time to update you on recent developments in the Company and our industry. As we have stated before, it is at times of difficulty for the industry that NAT in particular improves its position relative to its peers. We believe that important factors differentiate NAT from other tanker companies
Nordic Shipholding Sells Chemical Tanker Activities
Nordic Shipholding A/S completes sale of chemical tanker activities. In continuation of company announcement no. 1/2012 published via NASDAQ OMX on 27 March 2012, Nordic Shipholding A/S (formerly Nordic Tankers A/S) today has completed the sale of its chemical tanker activities to a company controlled by Triton, a European investment company. The acquiring company has today changed name to "Nordic Tankers A/S".
NAT Posts 1Q 2013 Results
During the first quarter of 2013, NAT acquired another Suezmax tanker, built to top specifications and launched this year. We expect the ship to be delivered to us by June 15, bringing our total fleet to 21 ships. In April, NAT completed an equity offering, with net proceeds of $102.2 million. The same month, the Board declared a dividend of $0.16 per share for 1Q 2013, identical to the dividend for 4Q 2012. The tanker market remains challenging
Nordic American Tankers Announce Public Offering
Nordic American Tankers Limited announced commencement of a public offering of $87 million aggregate amount of common shares pursuant to the Company's effective shelf registration statement. The company then announced a follow-on offering of 9.75 million common shares has been priced at $9
Nordic Cold Storage Blasts into Savannah
Nordic Cold Storage announced the grand opening of the first phase of its storage and blast facility, located just minutes from the Port of Savannah. The site has over 200,000 square-feet of convertible temperature-controlled storage space and is capable of blasting more than 10 million
Nordic American Tankers Ltd. - Declaration of Dividend
Nordic American Tankers Ltd. announced that its Board of Directors has declared a dividend of $0.16 for the first quarter of 2013, the same as for the 4th quarter of 2012. The level of the declared dividend should be seen in the context of planned fleet expansion
FSL Trust Reports $23 Million 1QFY13 Revenue
FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust, announced the financial results of FSL Trust for the quarter ended 31 March 2013. Revenue for 1QFY13 declined by 11.6% to $23.0 million (USD) compared to the corresponding quarter last year
NSR Rescue & Salvage Ship Contracts for Nordic Yards
Nordic Yards in Wismar and Warnemünde, Germany, contracted to build two ice-breaking rescue & salvage ships for Russia. The vessels for the Russian Ministry of Transport, will operate on the Northern Sea Route (NSR) in the Arctic, namely in the region of Murmansk, and in Sakhalin
LNG Cargo Handling Under Arctic Conditions R&D
Nordic Yards sets up a new test track as a 'cooling zone' to test 3 models of the yard's own-design LNG cargo tanks. A new test track has been inaugurated at the Warnemünde location of Nordic Yards. The cooling zone is being used to test three models, so-called mock-ups
Nordic American Tankers Acquires Scandic American Shares
Nordic American Tankers Ltd. ("NAT") Completes Acquisition of Scandic American Shipping Ltd., the Business Manager of NAT. On December 17, 2012 NAT (NYSE: NAT) announced that it had acquired 100% of the shares of Scandic American Shipping Ltd
Nordic American Tankers Mull Expansion Plans
Nordic American Tankers Ltd. is considering expanding its fleet by ordering new vessels or buying second-hand. The company's Board of Directors has declared a dividend of $0.16 for the fourth quarter of 2012. They are assessing expansion plans including ordering of new vessels from
Hybrid Broadband Solution for Nordic, Scandinavian Countries
Ancylus AB & Net1 enter a strategic partnership to offer the Scandinavian & Nordic maritime market a hybrid broadband solution. The new Hybrid broadband solution is tailor-made for the shipping industry operating in the Nordic waters
OW Bunker Buy Two Bunker Barges
OW Bunker acquire two bunker barges for Nordic operations: 'OW Copenhagen' and 'OW Aalborg'. Prior to the acquisition, OW Bunker operated both vessels on a bare-boat charter from international shipping company the Clipper Group. OW Copenhagen and OW Aalborg are modern double-hulled 3
GAC Bunker Fuels Expands in Norway
GAC Bunker Fuels Limited has announced the opening of its newest office - in Bergen, Norway - in a move to further strengthen its marine fuel and lubricant trading operation across the Nordic region. The Bergen office will be responsible for the trading of all grades of marine fuel and
NAT Weathering a Weak Shipping Market
Nordic American Tankers Limited (NAT) publishes its Q4 2012 financial report. Extracts from the report follow: In 2012, NAT improved its relative position within the industry despite a weak market. By retaining a strong balance sheet throughout 2012
Nordic Shipholding to Exercise Divestment Option
Nordic Shipholding A/S decides to exercise its option agreement with Nordic Tankers Shipowning A/S and Clipper Group A/S. The option agreement referred to was dated 28, March 2012. In connection with the divestment of the chemical tanker activities in Nordic Shipholding A/S as referred to in
Day on Bering No Ordinary Day
US Coast Guard cutter 'Munro' navigated shifting ice fields to close on Bering Sea fishing fleet, then rendered emergency medical help. While the weapons and operations departments were wrapping up the day’s second boarding, a radio call reached Munro’s bridge from fishing vessel
NAT Buys Twenty-first Tankship
Nordic American Tankers Limited (NAT) is to acquire a Suezmax tankship delivered to its owners earlier this year . The company has entered into a preliminary agreement to acquire a modern double-hull Suezmax tanker delivered from a top yard in South Korea in early 2013