Nordic American Tankers Ltd (NYSE: NAT) –
Nordic American Tankers (NAT) has announced its fleet renewal strategy for 2025, planning to purchase two or three ships while selling an equal number. As an initial step, the company has agreed to sell one Suezmax tanker (built 2003) for USD 22.5 million, with the transaction expected to complete in Q1 2025.
The company is collaborating with its long-term financing partners, Beal Bank (Dallas) and Ocean Yield (New York), to support this fleet modernization initiative. These financial arrangements aim to increase liquidity and enhance financial flexibility while maintaining NAT's commitment to dividend payments and balance sheet strength.
NAT highlights its consistent dividend payment history, having distributed dividends for 109 consecutive quarters since its New York listing in 1995.
Nordic American Tankers (NAT) ha annunciato la sua strategia di rinnovo della flotta per il 2025, pianificando l'acquisto di due o tre navi mentre ne venderà un numero equivalente. Come primo passo, l'azienda ha concordato di vendere un tanker Suezmax (costruito nel 2003) per 22,5 milioni di USD, con la transazione prevista per essere completata nel primo trimestre del 2025.
L'azienda sta collaborando con i suoi partner finanziari di lungo termine, Beal Bank (Dallas) e Ocean Yield (New York), per supportare questa iniziativa di modernizzazione della flotta. Questi accordi finanziari mirano ad aumentare la liquidità e a migliorare la flessibilità finanziaria, mantenendo il commitment di NAT ai pagamenti di dividendi e alla solidità del bilancio.
NAT sottolinea la sua costante storia di pagamento dei dividendi, avendo distribuito dividendi per 109 trimestri consecutivi dalla sua quotazione a New York nel 1995.
Nordic American Tankers (NAT) ha anunciado su estrategia de renovación de flota para 2025, planeando comprar dos o tres barcos mientras vende una cantidad equivalente. Como primer paso, la compañía ha acordado vender un tanque Suezmax (construido en 2003) por 22,5 millones de USD, con la transacción prevista para completarse en el primer trimestre de 2025.
La compañía está colaborando con sus socios financieros a largo plazo, Beal Bank (Dallas) y Ocean Yield (Nueva York), para apoyar esta iniciativa de modernización de la flota. Estos arreglos financieros tienen como objetivo aumentar la liquidez y mejorar la flexibilidad financiera, manteniendo el compromiso de NAT con los pagos de dividendos y la solidez del balance.
NAT resalta su consistente historial de pagos de dividendos, habiendo distribuido dividendos durante 109 trimestres consecutivos desde su cotización en Nueva York en 1995.
노르딕 아메리칸 탱커스(NAT)는 2025년 플릿 갱신 전략을 발표하며, 2~3척의 배를 구매하면서 동일한 수를 판매할 계획입니다. 첫 단계로, 이 회사는 2250만 달러에 2003년 건조된 하나의 수에즈맥스 유조선을 판매하는 데 동의했으며, 거래는 2025년 1분기에 완료될 것으로 예상됩니다.
회사는 빌 뱅크(달라스) 및 오션 수익(뉴욕)과 같은 장기 금융 파트너들과 협력하여 이 플릿 현대화 프로젝트를 지원하고 있습니다. 이러한 금융 마련은 유동성을 증가시키고 금융 유연성을 향상시키기 위한 것으로, NAT의 배당금 지급 및 재무 건전성에 대한 약속을 계속 유지하려는 것입니다.
NAT는 1995년 뉴욕 상장 이후 109분기 연속 배당금 지급 기록을 강조합니다.
Nordic American Tankers (NAT) a annoncé sa stratégie de renouvellement de flotte pour 2025, prévoyant d'acheter deux ou trois navires tout en vendant un nombre équivalent. Comme première étape, la société a convenu de vendre un tanker Suezmax (construit en 2003) pour 22,5 millions USD, avec une finalisation de la transaction prévue pour le premier trimestre 2025.
L'entreprise collabore avec ses partenaires financiers de longue date, Beal Bank (Dallas) et Ocean Yield (New York), pour soutenir cette initiative de modernisation de la flotte. Ces arrangements financiers visent à accroître la liquidité et à améliorer la flexibilité financière tout en maintenant l'engagement de NAT envers les paiements de dividendes et la solidité de son bilan.
NAT souligne son historique constant de paiement de dividendes, ayant distribué des dividendes pendant 109 trimestres consécutifs depuis son introduction à la bourse de New York en 1995.
Nordic American Tankers (NAT) hat seine Flottenerneuerungsstrategie für 2025 angekündigt, dabei plant die Firma den Kauf von zwei oder drei Schiffen, während sie eine gleich Anzahl verkauft. Als ersten Schritt hat das Unternehmen vereinbart, einen Suezmax-Tanker (gebaut 2003) für 22,5 Millionen USD zu verkaufen, wobei der Abschluss der Transaktion im ersten Quartal 2025 erwartet wird.
Das Unternehmen arbeitet mit seinen langfristigen Finanzierungspartnern, Beal Bank (Dallas) und Ocean Yield (New York), zusammen, um diese Flottenmodernisierungsinitiative zu unterstützen. Diese finanziellen Vereinbarungen zielen darauf ab, die Liquidität zu erhöhen und die finanzielle Flexibilität zu verbessern, während NAT sein Engagement für Dividendenzahlungen und die Stärke der Bilanz aufrechterhält.
NAT hebt seine konsistente Dividendenzahlungsgeschichte hervor, da es seit seiner Börsennotierung in New York im Jahr 1995 109 aufeinanderfolgende Quartale Dividenden ausgeschüttet hat.
- Sale of 2003 Suezmax tanker for USD 22.5 million strengthening balance sheet
- Secured financing partnerships with Beal Bank and Ocean Yield
- Increased liquidity and financial flexibility through new transactions
- Consistent dividend payment track record (109 consecutive quarters)
- Aging fleet requiring significant renewal investment
- Potential short-term fleet capacity reduction during transition period
Insights
The announced fleet renewal strategy represents a well-timed tactical move in the current market environment. The sale of the 20-year-old Suezmax tanker for
The company's approach to simultaneously sell aging vessels while acquiring new ones indicates a careful balance between maintaining fleet capacity and improving operational efficiency. Modern vessels typically command premium charter rates and consume
The involvement of established financing partners Beal Bank and Ocean Yield suggests favorable financing terms and strong institutional confidence in NAT's business model. This financial backing, combined with the company's impressive 109-quarter dividend track record, positions NAT well for executing its fleet renewal strategy while maintaining shareholder returns.
Key implications for investors include:
- Enhanced fleet efficiency and potential for improved charter rates with newer vessels
- Reduced maintenance costs and better compliance with environmental regulations
- Strengthened balance sheet flexibility for future opportunities
- Continued commitment to dividend sustainability through strategic fleet management
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 stock listed in New York in 1995, we have paid dividends for 109 consecutive quarters.
The transactions with Beal Bank and Ocean Yield will increase our liquidity and strongly enhance our financial flexibility.
We look forward to a very active year for NAT.
Sincerely,
Herbjorn Hansson
Founder, 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. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.
The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC’s petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.
Contacts:
Bjørn Giæver, CFO
Nordic American Tankers Ltd
Tel: +1 888 755 8391
Alexander Kihle, Finance Manager
Nordic American Tankers Ltd
Tel: +47 91 724 171
FAQ
How much will NAT receive from the sale of its 2003 Suezmax tanker?
What is NAT's fleet renewal plan for 2025?
Who are NAT's financing partners for the 2025 fleet renewal project?
How many consecutive quarters has NAT paid dividends?
When will the buyer take over NAT's sold Suezmax vessel?
