NAT Q4 2023 results

Nordic American Tankers (NAT) announced Q4 2023 results on 02/29/24.

  • Rev of $92.7M
  • Net Income of $17.6M
  • Div of 12c/sh
  • TCE of $39170 daily (includes vessels on time-charters)

NAT has added a relatively modern (2016-build) vessel to its fleet. Even without this vessel addition, I doubt NAT would have been able to eliminate the bank debt (Beale Bank financed) as the CEO suggested on a prior earnings call. For a tanker company, $85M is not a huge amount. In particular, if the collateral is 14 Suezmax vessels. OTOH, NAT has
2 2003 builds
2 2004 builds
3 2005 builds