Nordic American Tankers (NAT) reported their Q3 2024 results last week (11/29). Results included
- Rev of $52M
- Net Income of $8.7M
- Declared Q3 div of 4c/sh
- Avg TCE daily $30,656
https://ml-eu.globenewswire.com/Resource/Download/809ae07c-2417-450e-97b7-483749c11795
- NAT mgmt indicates the company secured $125M in charter coverage during Q3 2024. No indication how many vessels involved and/or charter lengths.
- NAT has two financing facilities. The Ocean Yield facility is a sale & leaseback-type facility and covers the newer vessels. The Beale financing is a bank facility that comes due in early 2025. On the surface, the latter facility looks easily refinanced. However, about half the vessels covered in the facility are over 19-yo
- The Q3 div will be paid in 2025.