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February 10, 2014
05:58 EDTNATNordic American Offshore to buy two or more PSVs
Nordic American Offshore, which is sponsored by Nordic American Tankers and is managed by a subsidiary of NAT, currently has six platform supply vessels operating in the demanding North Sea market. PSVs are highly sophisticated vessels, representing the latest in design and technology, and they play an integral role in the logistical chain in offshore exploration and production of oil and gas. The two newbuildings will be delivered in January 2015 and cost about $44M each. Nordic American Tankers owns 26% of the share capital in NAO at a cost of $65 million. NAO will be operated essentially along the same strategic lines as NAT. This includes an active dividend policy and the prudent use of its resources to ensure a top-quality fleet at all times. The plan is for NAO to be listed on NYSE later this spring. NAO is now listed on the so-called OTC in Oslo, Norway. The stock price of NAO has gone up about 10% since it came onto the OTC at the end of November 2013.
News For NAT From The Last 14 Days
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February 10, 2016
05:39 EDTNATNordic American Tankers says low oil prices 'a boon' for the business
The company commented, "First, we would like to emphasize that we are not in the energy business. The impact of lower oil prices on oil companies and oil service companies has nothing to do with the transportation of oil. A surplus of oil must be transported or stored, which is beneficial to tanker owners. Secondly, there are big differences in the transportation market between dry bulk, container shipping, liquefied natural gas, and the tanker business. It is simply wrong to bundle all of these groups together as one. We have always refrained from commenting on stock prices. In our view investors must ask themselves one key question: Who is benefitting in today's market? In our conversations with market participants, we are left with an impression that this question is not asked often enough. One answer to this question can be found in our results. The oil surplus has led to record tanker demand."
February 8, 2016
05:42 EDTNATNordic American Tankers: Shale oil and oil sand projects to affect oil sector
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05:41 EDTNATNordic American Tankers reports Q4 EPS 34c, consensus 45c
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February 4, 2016
10:52 EDTNATOptions with increasing implied volatility: MPLX BOFI BKS NAT KSS
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