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Stock Market & Financial Investment News

News Breaks
July 7, 2014
07:04 EDTNAT, NAONordic American Tanker: Q2 won't produce results 'at the level' with Q1
In a letter to shareholders, Nordic American Tankers says "The first quarter of 2014 produced very strong results for our suezmax tankers compared with the last quarter of 2013. During 4Q2013 the operating cash flow was $1.9 million. The comparable figure for 1Q2014 was about $27 million, about 14 times up. We know that the tanker market is volatile, the first quarter of 2014 is an indication how it can evolve. 2Q2014 will not produce results at the level with 1Q2014 as the market has fallen back. At the time of this message there is an undercurrent in the market which may lead to increased rates again. NAT is in excellent position to reap immediate financial benefits when the market turns around... We have again proven that our fleet is in top technical condition. Furthermore, I am pleased that we, so far this year, have been able to expand our suezmax fleet from 20 to 22 vessels. We shall take delivery of the two new vessels in July and August 2014, respectively."
News For NAT;NAO From The Last 14 Days
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September 18, 2014
06:02 EDTNAONAO chairman says company in 'excellent position to grow accretively'
In a letter to shareholders, Nordic American Offshore chairman Herbjørn Hansson said, "NAO is in an excellent position to grow accretively. After an acquisition of vessels the company shall be able to pay a higher dividend per share and produce higher earnings per share than had such acquisitions not taken place. We are actively looking for acquisition opportunities that fit in with our high-specification fleet. I am hopeful that NAO will grow significantly in the coming years while generating strong total returns."

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