Nordic American Tankers Mull Expansion Plans

Press Release
Friday, January 18, 2013

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 shipyards or buying second hand vessels at historically low prices. 

The level of the declared dividend should be seen in the context of a planned fleet expansion. Expansion is essentially the same as investing in the future. However, also yield is a priority as demonstrated by this payment of dividend for the 62nd consecutive quarter since the autumn of 1997.

The record date is expected to be January 30, 2013 and the payment of dividend is expected to take place on or about February 13, 2013.

Nordic American Tankers Limited ("NAT") was incorporated in Bermuda in 1995. In September 1995 NAT sold securities to the public in the US and in Europe. The shares are trading at the New York Stock Exchange.

The record date is expected to be January 30, 2013 and the payment of dividend is expected to take place on or about February 13, 2013.

Nordic American Tankers Limited ("NAT") was incorporated in Bermuda in 1995. In September 1995 NAT sold securities to the public in the US and in Europe. The shares are today trading at the New York Stock Exchange

The proceeds from the first offering (and subsequent exercise of warrants) were used to acquire 3 new suezmax double hull crude oil tankers (151,000 dwt) built at Samsung Heavy Industries Co. Ltd. to very high specifications. The three vessels ("Nordic Hawk", "Nordic Hunter" and "Gulf Scandic") were all delivered during the autumn of 1997 and commenced a seven-year bareboat charters to British Petroleum ("BP") immediately after delivery. The charter was based on the spot market rates at all times; with a minimum guaranteed rate.
 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

USS Montpelier Modernization Contract for General Dynamics

The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier,

Pentair Opens Aquaculture Center of Excellence

Mindful that fish farming has the potential to help meet an expanding  population's need for protein in a world with increasing water constraints, Pentair announced

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

Tanker Trends

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

Unicom Selects the Ecochlor BWTS for 10 Tankers

Ecochlor, Inc. announced that Unicom Management Services (Cyprus) Ltd. (Unicom), acting for SCF Group, signed a 10-vessel agreement for the Ecochlor Ballast Water Treatment System (BWTS) in Limassol,

Kongsberg Contracted to Support FLNG Conversion

Kongsberg Maritime secures position in the LNG market with electrical and automation contract for Golar Hilli FLNG   Keppel Shipyard in Singapore and Black & Veatch in the U.

Finance

USS Montpelier Modernization Contract for General Dynamics

The U.S. Navy has awarded General Dynamics Electric Boat a $46.4 million contract for planning efforts in support of maintenance and modernization work on USS Montpelier,

Pentair Opens Aquaculture Center of Excellence

Mindful that fish farming has the potential to help meet an expanding  population's need for protein in a world with increasing water constraints, Pentair announced

Scorpio Tankers' Buyback Plan, Newbuild Delivery

Scorpio Tankers Inc. announced today (i) a new $250 million Securities Buyback Program, (ii) that it has recently taken delivery of an MR product tanker and

 
 
Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1531 sec (7 req/sec)