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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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December 10, 2014
06:24 EDTNAO, NATNordic American Tankers increases ownership of Nordic American Offshore
NAT has increased ownership in NAO to 19.2% the first two days of this week from 18.0% in December 1. The recent aggregate NAT purchase of 488,216 shares in NAO amounts to an investment of $5.8M. The shares were bought at prices ranging from $12.89 to $10.39 per share. NAO has 23,431,370 shares in issue. Nordic American Offshore Ltd. is a separate and independent company of NAT. A subsidiary of NAT is the business manager of NAO as it is for NAT.
December 9, 2014
06:09 EDTNATNordic American Tankers signs agreement to order two $65M Suezmax tankers
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