Nordic American Tankers Ltd (NYSE: NAT) – An active period involving several transactions
Nordic American Tankers (NYSE: NAT) has announced multiple strategic transactions in a recent active period. The company has exercised a purchase option for a 2018-built Suezmax tanker from a financing partner on favorable terms. Additionally, NAT has sold a 2003-built vessel to a UK-based owner, expected to generate a cash injection of USD 22.5 million when the sale closes in the second half of February.
The company emphasizes its solid financial position and flexibility, indicating plans for future expansion. NAT reaffirms its commitment to maintaining dividend payments as a priority for shareholders.
Nordic American Tankers (NYSE: NAT) ha annunciato diverse transazioni strategiche in un recente periodo di attività intensa. L'azienda ha esercitato un'opzione di acquisto per un tanque Suezmax costruito nel 2018 da un partner finanziario a condizioni favorevoli. Inoltre, NAT ha venduto una nave costruita nel 2003 a un proprietario con sede nel Regno Unito, che dovrebbe generare un iniezione di cassa di 22,5 milioni di dollari al momento della chiusura della vendita nella seconda metà di febbraio.
L'azienda sottolinea la sua solida posizione finanziaria e flessibilità, indicando piani per future espansioni. NAT riafferma il suo impegno a mantenere i pagamenti dei dividendi come una priorità per gli azionisti.
Nordic American Tankers (NYSE: NAT) ha anunciado múltiples transacciones estratégicas en un reciente período activo. La compañía ha ejercido una opción de compra para un tanque Suezmax construido en 2018 de un socio financiero en condiciones favorables. Además, NAT ha vendido un buque construido en 2003 a un propietario con sede en el Reino Unido, que se espera genere una inyección de efectivo de 22.5 millones de dólares cuando se cierre la venta en la segunda mitad de febrero.
La empresa enfatiza su sólida posición financiera y flexibilidad, indicando planes para una futura expansión. NAT reafirma su compromiso de mantener los pagos de dividendos como una prioridad para los accionistas.
노르딕 아메리칸 탱커스 (NYSE: NAT)는 최근 활발한 기간 동안 여러 전략적 거래를 발표했습니다. 회사는 재무 파트너로부터 2018년 건조된 Suezmax 유조선에 대한 구매 옵션을 유리한 조건으로 행사했습니다. 또한 NAT는 영국 소재의 소유자에게 2003년 건조된 선박을 판매했으며, 이 거래가 2월 하반기에 마감될 때 2,250만 달러의 현금 유입 예상입니다.
회사는 탄탄한 재정 상태와 유연성을 강조하며, 향후 확장 계획이 있음을 나타냅니다. NAT는 주주를 위한 최우선 사항으로 배당금 지급을 유지하기 위한 의지를 재확인합니다.
Nordic American Tankers (NYSE: NAT) a annoncé plusieurs transactions stratégiques lors d'une récente période active. La société a exercé une option d'achat pour un tanker Suezmax construit en 2018 auprès d'un partenaire financier à des conditions favorables. De plus, NAT a vendu un navire construit en 2003 à un propriétaire basé au Royaume-Uni, ce qui devrait générer une injection de liquidités de 22,5 millions de dollars lors de la clôture de la vente dans la seconde moitié de février.
La société souligne sa solide position financière et sa flexibilité, indiquant des projets d'expansion future. NAT réaffirme son engagement à maintenir les paiements de dividendes comme une priorité pour les actionnaires.
Nordic American Tankers (NYSE: NAT) hat in einem kürzlichen aktiven Zeitraum mehrere strategische Transaktionen angekündigt. Das Unternehmen hat eine Kaufoption für einen 2018 gebauten Suezmax-Tanker von einem Finanzierungspartner zu günstigen Konditionen ausgeübt. Darüber hinaus hat NAT ein 2003 gebautes Schiff an einen in Großbritannien ansässigen Eigentümer verkauft, was voraussichtlich eine Bargeldeinnahme von 22,5 Millionen USD bringen wird, wenn der Verkauf in der zweiten Februarhälfte abgeschlossen wird.
Das Unternehmen betont seine solide finanzielle Lage und Flexibilität und deutet auf Pläne für eine zukünftige Expansion hin. NAT bekräftigt sein Engagement, die Dividendenzahlungen als Priorität für die Aktionäre aufrechtzuerhalten.
- Purchase of newer 2018-built Suezmax tanker on favorable terms
- Sale of older 2003 vessel generating USD 22.5 million in cash
- Strong financial position with demonstrated flexibility
- Commitment to dividend payments
- Reduction in fleet size through vessel sale
Insights
Nordic American Tankers' latest fleet transactions represent a strategic modernization effort with significant financial implications. The acquisition of a relatively modern 2018-built Suezmax tanker strengthens the company's fleet profile, while the
The timing of these transactions is particularly noteworthy given the current strong Suezmax tanker market conditions. By divesting an aging vessel at attractive valuations while securing a younger ship, NAT is effectively reducing its fleet's average age and potential maintenance costs while positioning itself for improved charter rates that modern vessels typically command.
The
For investors, these moves signal management's active approach to fleet optimization and their ability to execute transactions that enhance both operational efficiency and financial strength. The commitment to dividends, backed by improved fleet quality and stronger cash position, supports the company's shareholder-friendly approach in a historically cyclical industry.
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.
Please also see our home page www.nat.bm
Sincerely,
Herbjorn Hansson
Founder, Chairman & CEO
Nordic American Tankers Ltd.
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 cash will NAT receive from the sale of its 2003-built vessel?
What new vessel is NAT acquiring in 2025?
When will NAT complete the sale of its 2003-built vessel?
Will NAT continue paying dividends after these transactions?
What are NAT's expansion plans following these transactions?
