New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 1, 2014
18:12 EDTNATNordic American Tanker acquires two Suezmax vessels at $36.5M each
Nordic American Tankers announced that the company has agreed to acquire two Suezmax vessels, delivered from a top shipyard in 2005. The agreed purchase price is $36.5M each. The vessels are expected to be delivered to us no later than August. "The acquisitions will be financed from the financial resources of the company. Including the delivery of the current acquisitions, NAT will have a fleet of 22 Suezmax vessels - enhancing our dividend and earnings capacity. The acquired vessels are essentially sister ships to other vessels in our current fleet. It is of significant importance to have more or less identical vessels in the fleet both from an operational and cost synergy point of view." The vessels were built to high technical specifications. The company added, "Our focus on safety for crew, vessels and the environment will never cease. NAT is a company built on quality in all respects. The acquisition represents a natural step in the further development of NAT. The company will seek to increase its dividend and earnings capacity through further expansion, when the time is right. We believe that our strong balance sheet, well defined and transparent operating model provide the company with a strong competitive position."
News For NAT From The Last 14 Days
Check below for free stories on NAT the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
September 5, 2014
07:41 EDTNATNordic American Offshore announces two new contracts through 2015
Nordic American Offshore (NAO) has entered into two new contracts with a major oil-company in the UK for one year with a one year option. This will secure employment for two of our vessels up to the end of 2015. NAO has been in operation since end of 2013. It has turned out to be a solid investment for its shareholders, including Nordic American Tankers Limited (NAT) holding 17.1%. NAT has a realized and unrealized profit of about $20M on its investment in NAO.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use