Nordic American Tankers Limited, a tanker company, acquires and charters double-hull tankers in Bermuda and internationally. It operates a fleet of 25 Suezmax crude oil tankers. The company was formerly known as Nordic American Tanker Shipping Limited and changed its name to Nordic American Tankers Limited in June 2011. Nordic American Tankers Limited was incorporated in 1995 and is based in Hamilton, Bermuda.
IPO Year: 1995
Exchange: NYSE
Website: nat.bm
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/12/2024 | $4.00 | Buy → Hold | Jefferies |
| 9/6/2022 | $3.00 → $4.00 | Hold → Buy | Jefferies |
| 7/21/2022 | $3.00 | Hold | Jefferies |
| 4/27/2022 | $2.00 → $2.50 | Hold | Jefferies |
| 11/26/2021 | $2.75 → $2.25 | Hold | Jefferies |
| 11/24/2021 | $2.75 → $2.25 | Hold | Jefferies |
| 8/31/2021 | $6.00 → $5.00 | Buy | B. Riley Securities |
REPEAT Wednesday, February 5, 2025 Dear Shareholders and Investors, A major project for 2025 is to renew and grow our fleet. We plan to buy two or three ships and to sell two or three.As a first step, last week we agreed to sell one of our suezmaxes, built in 2003, which will net our company USD 22.5 million and thus strengthen our balance sheet. The buyer will take over the vessel in Q1 2025.We are helped in this major project by our two longtime financing partners, Beal Bank based in Dallas, and Ocean Yield, whose parent company is based in New York.As always, our financing is driven by our main goals of prioritizing dividends and retaining a sturdy balance sheet. Since NAT became st
Wednesday, February 5, 2025 Dear Shareholders and Investors, A major project for 2025 is to renew and grow our fleet. We plan to buy two or three ships and to sell two or three. As a first step, last week we agreed to sell one of our suezmaxes, built in 2003, which will net our company USD 22.5 million and thus strengthen our balance sheet. The buyer will take over the vessel in Q1 2025. We are helped in this major project by our two longtime financing partners, Beal Bank bases in Dallas, and Ocean Yield, whose parent company is based in New York. As always, our financing is driven by our main goals of prioritizing dividends and retaining a sturdy balance sheet. Since NAT became sto
Wednesday, January 22, 2025 Dear Shareholders and Investors, In the recent past, NAT has carried through several transactions, reflecting a very active period. NAT has declared the purchase option for a 2018-built Suezmax tanker on favorable terms from a close financing partner. Furthermore, we have also sold a 2003-built vessel to a UK based owner. This sale which is expected to close in the second half of February, will produce a cash injection of USD 22.5 million. NAT is in a very solid position and the transactions above reflect our financial flexibility. Going forward, we see expansion on the horizon. We wish to assure shareholders that dividend always will be a priority.
Friday, November 29, 2024 Dear Shareholders and Investors, Highlights: The international profile of NAT is reflected in the fact that during the last five years our ships have loaded & discharged in 68 countries. Ninety day periods offer a short-term snapshot of a company. However, it is more constructive to view the longer-term picture. The direction of NAT is unquestionably upwards, and there is room for profitable growth. 1. During the third quarter 2024, we concluded time-charter (T/C) contracts with international and national oil companies. These contracts represent an aggregate net revenue of about $125 million. Our customers see that there is a scarcity of suezmax
Wednesday, September 11, 2024 Dear Shareholders and Investors, On September 2nd, 2024, we advised Shareholders and Investors that a Conference call would take place Thursday, September 12th. Conference Call timing: Date: Thursday September 12, 2024 Time: 8 AM US Eastern Standard Time (EST) / 2 PM Central European Time (CET) Webcast URL: To join via webcast click on the link below and follow the instructions: https://edge.media-server.com/mmc/p/ntj8raco Dial-In numbers: Dial in to the Conference using one of the numbers below, closest
Monday, September 2, 2024 Dear Shareholders and Investors, Thursday September 12, 2024, we will host an Investor Conference Call with the main objective of providing an update on Nordic American Tankers Ltd, including prospects going forward. Time: 8 AM US Eastern Standard Time (EST) / 2 PM Central European Time (CET) Dial-in details to be provided later. Sincerely, Herbjorn HanssonFounder, Chairman & CEO
Thursday, August 29, 2024 Dear Shareholders and Investors, Highlights: Ninety day periods offer a short-term snapshot of a company. However, it is more important to view the long-term picture. The direction of NAT is unquestionably upward, with further room to grow. For the second quarter of 2024, NAT produced a net profit of $21.6 million, which is a substantial improvement compared with the previous quarter (1Q24) with a net Profit of $15.1 million. The dividend for the se
Wednesday, May 29, 2024 Dear Shareholders and Investors, Highlights: Ninety day periods offer a short-term snapshot of a company, but it is also important to view the long-term picture. The values of our assets have seen a significant increase over the past years. The direction of NAT is unquestionably upward, with further room to grow. The first quarter of 2024 continued at a strong pace with healthy earnings. The Net Profit for the first quarter of 2024 came in at $15.1 million which is similar to the previous quarter (4Q23) with a Net Profit of $17.5 million.For the first quarter of 2024 the dividend is 12 cents ($0.12) per share. This is our 107th consecutiv
Thursday, March 7, 2024 Dear Shareholders and Investors, We have recently concluded the following fixtures: Nordic Castor (2004) was fixed to a Far Eastern Major for a voyage from Arabian Gulf to Singapore. The TCE is USD 34,000 over 30 days.Nordic Space (2017) was fixed to a Major for a voyage from Europe to Singapore (routed via South Africa). The TCE is USD 70,000 over 51 days.Nordic Star (2016) was fixed to a Major for a voyage from South America to Europe. The TCE is USD 30,000 over 43 days.Nordic Luna (2004) was fixed to a Far E
Thursday, February 29, 2024 Dear Shareholders and Investors, Highlights: In 2023, the Net Voyage Revenue for Nordic American Tankers Ltd (NAT) totaled $262.2 million. This is a remarkable improvement from 2022, when Net Voyage Revenue was $168.8 million. Our performance produced a net profit of $98.7 million for 2023, more than six times the $15.1 million result for 2022. Maximizing dividends is a key goal and higher earnings result in higher dividends. The dividend for the fourth quarter of 2023 will be 12 cents ($0.12) per share, up from 6 cents in the
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Jefferies downgraded Nordic American Tanker from Buy to Hold and set a new price target of $4.00
Jefferies upgraded Nordic American Tanker from Hold to Buy and set a new price target of $4.00 from $3.00 previously
Jefferies initiated coverage of Nordic American Tanker with a rating of Hold and set a new price target of $3.00
Jefferies resumed coverage of Nordic American Tanker with a rating of Hold and set a new price target of $2.50 from $2.00 previously
Jefferies reiterated coverage of Nordic American Tankers with a rating of Hold and set a new price target of $2.25 from $2.75 previously
Jefferies reiterated coverage of Nordic American Tankers with a rating of Hold and set a new price target of $2.25 from $2.75 previously
B. Riley Securities reiterated coverage of Nordic American Tankers with a rating of Buy and set a new price target of $5.00 from $6.00 previously
Evercore ISI Group upgraded Nordic American Tankers from Underperform to In-Line and set a new price target of $4.00 from $2.50 previously
Evercore ISI upgraded Nordic American Tanker from Underperform to In-line
H.C. Wainwright initiated coverage of Nordic American Tanker with a rating of Neutral and set a new price target of $3.75
REPEAT Wednesday, February 5, 2025 Dear Shareholders and Investors, A major project for 2025 is to renew and grow our fleet. We plan to buy two or three ships and to sell two or three.As a first step, last week we agreed to sell one of our suezmaxes, built in 2003, which will net our company USD 22.5 million and thus strengthen our balance sheet. The buyer will take over the vessel in Q1 2025.We are helped in this major project by our two longtime financing partners, Beal Bank based in Dallas, and Ocean Yield, whose parent company is based in New York.As always, our financing is driven by our main goals of prioritizing dividends and retaining a sturdy balance sheet. Since NAT became st
Wednesday, February 5, 2025 Dear Shareholders and Investors, A major project for 2025 is to renew and grow our fleet. We plan to buy two or three ships and to sell two or three. As a first step, last week we agreed to sell one of our suezmaxes, built in 2003, which will net our company USD 22.5 million and thus strengthen our balance sheet. The buyer will take over the vessel in Q1 2025. We are helped in this major project by our two longtime financing partners, Beal Bank bases in Dallas, and Ocean Yield, whose parent company is based in New York. As always, our financing is driven by our main goals of prioritizing dividends and retaining a sturdy balance sheet. Since NAT became sto
Wednesday, January 22, 2025 Dear Shareholders and Investors, In the recent past, NAT has carried through several transactions, reflecting a very active period. NAT has declared the purchase option for a 2018-built Suezmax tanker on favorable terms from a close financing partner. Furthermore, we have also sold a 2003-built vessel to a UK based owner. This sale which is expected to close in the second half of February, will produce a cash injection of USD 22.5 million. NAT is in a very solid position and the transactions above reflect our financial flexibility. Going forward, we see expansion on the horizon. We wish to assure shareholders that dividend always will be a priority.
Monday, January 6, 2025 Dear Shareholders and Investors, Non-Executive Vice Chairman of NAT, Alexander Hansson, has today bought 300,000 shares at $2.54 per share. He is now holding 4,000,000 shares. Following this transaction, the Hansson family owns 8,550,000 shares – being the largest private shareholder group in the company. For contacts, please see at the end of this communication. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements
Tuesday, December 17, 2024 Dear Shareholders and Investors, Non-Executive Vice Chairman of NAT, Alexander Hansson, has today bought 100,000 shares at $2.5125 per share. He is now holding 3,700,000 shares. Following this transaction, the Hansson family owns 8,250,000 shares – being the largest private shareholder group in the company. For contacts, please see at the end of this communication.Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements. T
Thursday, December 12, 2024 Dear Shareholders and Investors, This is to inform you that I personally and a company owned and guaranteed by me have today bought 100,000 shares in NAT at the price of USD 2.6129 per share. Following this transaction the Hansson family owns an aggregate of 8,150,000 shares – being the largest private shareholder group in the company. My son, Monaco-based Alexander Hansson, has 3,600,000 shares in NAT. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press
Tuesday, December 10, 2024 Dear Shareholders and Investors, Non-Executive Vice Chairman of NAT, Alexander Hansson, has today bought 50,000 shares at $2.6932 per share. He is now holding 3,600,000 shares. Following this transaction, the Hansson family owns an aggregate of 8,050,000 shares – being the largest private shareholder group in the company. For contacts, please see at the end of this communication. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forw
Wednesday, December 4, 2024 Dear Shareholders and Investors, This is to inform you that I personally and a company owned and guaranteed by me have today bought 194,341 shares in NAT at the price of USD 2.7802 per share. Following this transaction the Hansson family owns an aggregate of 8,000,000 shares – being the largest private shareholder group in the company. Recently, my son, Monaco-based Alexander Hansson, has bought 350,000 shares in NAT, increasing his stake to 3,550,000 shares. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWA
Monday, December 2, 2024 Dear Shareholders and Investors, Non-Executive Vice Chairman of NAT, Alexander Hansson, has today bought 350,000 shares at $2.6471 per share. He is now holding 3,550,000 shares. Following this transaction the Hansson family owns an aggregate of 7,805,659 shares – being the largest private shareholder group in the company. For contacts, please see at the end of this communication. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute for
Friday, November 29, 2024 Dear Shareholders and Investors, Highlights: The international profile of NAT is reflected in the fact that during the last five years our ships have loaded & discharged in 68 countries. Ninety day periods offer a short-term snapshot of a company. However, it is more constructive to view the longer-term picture. The direction of NAT is unquestionably upwards, and there is room for profitable growth. 1. During the third quarter 2024, we concluded time-charter (T/C) contracts with international and national oil companies. These contracts represent an aggregate net revenue of about $125 million. Our customers see that there is a scarcity of suezmax
Monday, November 25, 2024 Dear Shareholders and Investors, Nordic American Tankers Limited (NYSE:NAT) conducted its Annual General Meeting of Shareholders (the "Meeting") Thursday, November 21, 2024 in Monaco.A quorum was present, and the following resolutions were approved and adopted at the Meeting: Election of Founder, Chairman & CEO Herbjorn Hansson to serve as Director & Chairman of the BoardElection of Alexander Hansson to serve as Director of the BoardElection of Jenny Chu to serve as Director of the BoardApproval of the appointment of KPMG as the Company's independent auditors. The board has the authority to replenish a vacant position, to ensure that the NAT Board always consist
Thursday, November 16, 2023 Dear Shareholders and Investors, Nordic American Tankers Limited (NYSE:NAT) conducted its Annual General Meeting of Shareholders (the "Meeting") today, on November 16, 2023 in Monaco. We experienced a record turnout this year and all resolutions were approved and adopted at the Meeting: Election of Herbjorn Hansson, Jim Kelly, Alexander Hansson and Jenny Chu to serve as Directors of the Board.Approval of the appointment of KPMG as the Company's independent auditors. We are in
Thursday, November 17, 2022 Dear Shareholders and Investors, Nordic American Tankers Limited (the "Company") (NYSE:NAT) conducted its Annual General Meeting of Shareholders (the "Meeting") on November 17, 2022 in Monaco. The following resolutions were approved and adopted at the Meeting: Election of Herbjorn Hansson, Jim Kelly, Alexander Hansson and Jenny Chu to serve as Directors of the Board.Approval of the appointment of KMPG as the Company's independent auditors. Sincerely, Herbjorn HanssonFounder, Chai
Monday, July 19, 2021 Dear Shareholders and Investors, Nordic American Tankers Limited (the "Company") (NYSE:NAT) conducted its Annual General Meeting of Shareholders (the "Meeting") on July 19, 2021, in Monaco. The following resolutions were approved and adopted at the Meeting: Election of the four nominees to the Board of Directors. Approval of the appointment of KPMG AS as the Company's independent auditors. Sincerely, Herbjorn HanssonFounder, Chairman & CEO Nordic American Tankers Ltd. www.nat.bm CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS M
December 18, 2020. Nordic American Tankers Limited (the "Company") (NYSE: NAT) conducted its Annual General Meeting of Shareholders (the "Meeting") on December 18, 2020, in Monaco. The following resolutions were approved and adopted at the Meeting: Election of the five nominees to the Board of Directors.Approval of the appointment of KPMG AS as the Company's independent auditors. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looki