Nordic American Tankers (NAT) reported their Q1 2026 results on 05/28/26.
- Voyage rev of $77.5M
- Operating Income of $54.6M
- Net Income of $46.3M
- Q1 daily TCE $47,600
- Declared div of 22c/sh
- Formally placed order for 2 Suezmax newbuilds
https://ml-eu.globenewswire.com/Resource/Download/9b1539d2-da11-4ab2-82de-b73bbc6cdcbc
Q2 2026 is 90% done @ $68,000 daily. NAT still has three unencumbered vessels. But, in 2026, and possibly 2027, there will be some Capex spending for the newbuilds. The company has a couple of vessels on TC. IIRC, the rate was not great. But, that decision was made to support steady revenue stream to cover some lease financing.
No NAT position currently. But, I do think NAT is a good “trading fish”. At a decent entry price one can get a 15 - 20% return. Toss in a div or two, the return is 20 - 30%