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Nordic American

NAT Initiate Public Offering For Offshore Company Investment

A Nordic American Tanker vessel: Photo courtesy of NAT

Nordic American Tankers Limited announce an underwritten public offering of approximately $65 million aggregate amount of common shares. The company's Chairman and Chief Executive Officer, Mr. Herbjørn Hansson is expected to purchase about $2.0 million worth of common shares in the offering on the same terms as other investors. The company says it intends to use the net proceeds of this offering primarily to finance its investment in Nordic American Offshore Ltd. ("NAO"). NAO is an independent company from Nordic American Tankers that will initially own six platform supply vessels built in 2012 and 2013 by the Ulstein Group in Norway. One objective of the NAT investment in NAO is to enable NAT to pay a higher dividend to NAT shareholders than otherwise would be the case. The investors participating in this offering, inform NAT, are entitled to a dividend of $0.16 per share. This dividend was announced October 21, 2013 and is payable on or about December 11, 2013. About Nordic American Tankers The company is an international tanker company that owns 20 double-hull Suezmax tankers.  


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.


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


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


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


Hanssons Increase Stake in NAT

Tanker shipping firm Nordic American Tankers Limited (NAT) announced that chairman and CEO, Herbjorn Hansson, and his family have increased their holding in the company.    According to NAT, a company owned by Herbjorn Hansson and his son, Alexander, yesterday bought 100,000 shares in NAT worth $1.4 million, adding to their position as one of the tanker shipper’s largest shareholders.


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


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


Is NAT Approaching Recovery?

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Nordic American Tankers (NAT) published its financial results from 4Q 2013, noting an expected increase in tanker rates that the company expects to play a role in its recovery. NAT’s results are below: In early December 2013 the Suezmax tanker rates increased significantly compared with the average for 2013. A few weeks into 2014 the rates have weakened again. We expect improved results in 1Q 2014. The timecharter results of NAT were slightly lower in 4Q 2013 than in 3Q 2013


NAT Closes Public Offering

Photo: NAT

Nordic American Tankers Limited announced today that, in connection with its previously announced public offering of 12,000,000 common shares at a public offering price of $8.62 per share, the underwriters exercised in full the option granted to them by the company and purchased an additional 1,800,000 common shares on the same terms on which the 12,000,000 common shares were sold to the underwriters. The company also announced that the closing of the follow-on offering and the closing of the


Hanssons Scoop up More NAO Shares

Photo: NAO

Nordic American Offshore Ltd. (NAO) announced that Alexander Hansson, the son of the company’s chairman, Herbjorn Hansson, today bought 100,000 shares in NAO.   The share price was $3.65 share.


NAT Orders Three Suezmax Tankers

Nordic American Tankers Limited (NAT) said it has entered into agreements with Korean shipyard Samsung Heavy Industries Co., Ltd. for the construction of three Suezmax tankers of about 157,000 deadweight tons each to be delivered during the second half of 2018.  


Nordic American Tankers Expands Fleet to 33 Vessels

Photo: Nordic American Tankers

 Armed with $120m from the placement, Nordic American Tankers  (NAT) has contracted to increase its fleet from 30 to 33 vessels, enhancing its potential for both higher earnings and dividends.   The Company will have a fleet of 30 trading vessels in early 2017


Low Oil Price to Stimulate Tanker Market: NAT

Graph: Nordic American Tankers

 The development of the world economy affects the tanker industry. A low oil price is stimulating the world economy which is positive for the tanker market, says a report by Nordic American Tankers.   The drybulk and container sectors are weak


Nordic American Tankers Expands Suezmax Fleet

Nordic American Tankers Limited (NAT) has taken delivery of Suezmax tanker Nordic Luna, the first of four secondhand sister vessels purchased as part of the company’s plans for fleet expansion.   The second vessel is expected to join the NAT fleet in mid-June


Nordic American Tankers Fixes Suezmax on Timecharter

Courtesy Nordic American Tankers Limited

Nordic American Tankers Ltd. (NYSE:NAT) entered into a 30 months charter contract with a subsidiary of ExxonMobil (EM) for one of the NAT suezmaxes.  The firm period is 18 months with an option of further 12 months. The gross revenue from the contract of 30 months is about $25 million


Suezmax Tanker Delivered to NAT

Nordic American Tankers Limited (NAT) has today taken delivery of Nordic Castor, the second of four secondhand Japanese-built Suezmax tankers acquired in May 2016. The first of the four vessels, Nordic Luna, was delivered June 1, and the third vessel is expected to be delivered near the end of


NAT Takes Delivery of Suezmax, Earnings Capacity Up

Courtesy Nordic American Tankers Limited

Nordic American Tankers Limited ("NAT" or "the Company") announced that it today took delivery of a Suezmax vessel, the Nordic Sirius, built at a shipyard in Japan. NAT agreed to purchase four vessels as announced in our press release May 2, 2016


Suexmax Tanker Delivered to NAT

Nordic American Tankers Limited (NAT) has taken delivery of a Suezmax vessel, the Nordic Pollux, built at a Japanese shipyard.   Nordic Pollux is the final of four sister vessels purchased at the aggregate price of $106 million, and delivered to NAT over the course of 41 days.  


Nordic American Tankers Expects Improvement

Pic: Nordic American Tankers

 Norway's Nordic American Tankers (NAT) posted a net income of $23 million for the second quarter of this year, down 26% year on year from $30.9 million.    But  NAT is hopeful that Suezmax tanker rates would improve in the second half of the year


Grosland Joins NAT as VP

Courtesy Nordic American Tankers Limited

Carl Fredrik Grosland has joined Nordic American Tankers as Vice President, working on analyses, projects and business development. Reporting to Chairman & CEO Herbjørn Hansson in a staff position, he will also work closely with others both in NAT and NAO (Nordic American


NAT Names 2 New Tankers in South Korea

Mr. and Mrs. Yean Sin Kim, Siv Helset, Marianne Lie, Mr. Herbjørn and Mrs. Solveig Hansson. (Photo: ©Thorbjørn Damhaug)

wo new tankers, Nordic Star and Nordic Space, were named August 24 for owner Nordic American Tankers Limited (NAT).   NAT founder and chairman Herbjørn Hansson was present at the naming ceremony, along with the chargé d'affaires a.i


Suezmax Delivered to Nordic American Tankers

Nordic American Tankers Limited (NAT) has taken delivery of a Suezmax new build tanker Nordic Star, built at Sungdong Shipbuilding & Marine Engineering Co., Ltd., South Korea.   The 158,000 dwt vessel will be immediately employed in the tanker market, NAT said.  


Nordic American Offshore Relocates HQ

Nordic American Offshore Ltd. (NAO) said it will move its corporate domicile from the Republic of the Marshall Islands to Bermuda.   According to NAO, the change of corporate domicile will not affect the company’s day-to-day business


NAT Announces Public Offering

Nordic American Tankers Limited (the "Company") today announced an underwritten public offering of 11,000,000 common shares pursuant to the Company's effective shelf registration statement.  At the Company's request, the underwriters have reserved for sale an aggregate of 534






 
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