Nordic American Tankers Ltd (NYSE: NAT) – Long term contract with a major energy company
Nordic American Tankers (NYSE: NAT) has announced a significant five-year time charter contract with a major international energy company. The contract, set to begin in November 2024, offers a rate in the mid-high 30's. This long-term agreement represents a notable development for NAT, potentially providing stable revenue and enhancing the company's financial outlook.
The announcement, made by NAT's Founder, Chairman & CEO Herbjorn Hansson, underscores the company's ability to secure substantial contracts in the tanker industry. While specific details about the energy company were not disclosed, the duration and rate of the contract suggest a favorable deal for NAT.
Nordic American Tankers (NYSE: NAT) ha annunciato un importante contratto di noleggio a lungo termine di cinque anni con una grande azienda internazionale del settore energetico. Il contratto, che inizierà a novembre 2024, prevede una tariffa nella fascia medio-alta dei 30. Questo accordo a lungo termine rappresenta un notevole sviluppo per NAT, potenzialmente fornendo entrate stabili e migliorando le prospettive finanziarie dell'azienda.
L'annuncio, fatto dal fondatore, presidente e CEO di NAT, Herbjorn Hansson, sottolinea la capacità dell'azienda di assicurarsi contratti sostanziali nel settore dei trasporti marittimi. Sebbene i dettagli specifici riguardo all'azienda energetica non siano stati divulgati, la durata e la tariffa del contratto suggeriscono un accordo vantaggioso per NAT.
Nordic American Tankers (NYSE: NAT) ha anunciado un importante contrato de alquiler a largo plazo de cinco años con una gran empresa internacional de energía. El contrato, que comenzará en noviembre de 2024, ofrece una tarifa en el rango medio-alto de los 30. Este acuerdo a largo plazo representa un desarrollo notable para NAT, que potencialmente proporcionará ingresos estables y mejorará las perspectivas financieras de la empresa.
El anuncio, realizado por el fundador, presidente y CEO de NAT, Herbjorn Hansson, subraya la capacidad de la empresa para asegurar contratos sustanciales en la industria del transporte marítimo. Aunque no se revelaron detalles específicos sobre la empresa energética, la duración y la tarifa del contrato sugieren un acuerdo favorable para NAT.
노르딕 아메리칸 탱커스 (NYSE: NAT)는 대규모 국제 에너지 회사와 5년 장기 차터 계약을 체결했다고 발표했습니다. 이 계약은 2024년 11월에 시작되며, 중고 30대의 요금을 제공합니다. 이 장기 계약은 NAT에 중요한 발전을 의미하며, 안정적인 수익을 제공하고 회사의 재정 전망을 개선할 수 있습니다.
NAT의 창립자이자 회장이자 CEO인 헤르뵈른 한손이 발표한 이 내용은 회사가 유조선 산업에서 상당한 계약을 확보하는 능력을 강조합니다. 에너지 회사에 대한 구체적인 세부 사항은 공개되지 않았지만, 계약의 기간과 요금은 NAT에 유리한 거래를 암시합니다.
Nordic American Tankers (NYSE: NAT) a annoncé un contrat de charter à long terme de cinq ans avec une grande entreprise internationale du secteur de l'énergie. Le contrat, qui doit débuter en novembre 2024, offre un tarif dans les trente moyen-haut. Cet accord à long terme représente un développement notable pour NAT, offrant potentiellement des revenus stables et améliorant les perspectives financières de l'entreprise.
L'annonce, faite par le fondateur, président et PDG de NAT, Herbjorn Hansson, souligne la capacité de l'entreprise à sécuriser des contrats substantiels dans l'industrie des tankers. Bien que les détails concernant l'entreprise énergétique n'aient pas été divulgués, la durée et le tarif du contrat suggèrent un accord favorable pour NAT.
Nordic American Tankers (NYSE: NAT) hat einen bedeutenden fünfjährigen Zeitchartervertrag mit einem großen internationalen Energieunternehmen angekündigt. Der Vertrag, der im November 2024 beginnen soll, bietet einen Tarif im mittleren bis oberen 30er-Bereich. Dieses langfristige Engagement stellt eine bemerkenswerte Entwicklung für NAT dar und könnte stabile Einnahmen sichern sowie die finanziellen Aussichten des Unternehmens verbessern.
Die Ankündigung, die von NATs Gründer, Vorsitzendem und CEO Herbjorn Hansson gemacht wurde, unterstreicht die Fähigkeit des Unternehmens, substanzielle Verträge in der Tankerindustrie zu sichern. Obwohl spezifische Details über das Energieunternehmen nicht bekannt gegeben wurden, deuten die Dauer und der Tarif des Vertrags auf ein günstiges Geschäft für NAT hin.
- Secured a five-year time charter contract, providing long-term revenue stability
- Contract rate in the mid-high 30's, indicating a potentially lucrative agreement
- Partnership with a major international energy company, potentially enhancing NAT's market position
- None.
Insights
This long-term contract announcement is a significant positive development for Nordic American Tankers (NAT). The five-year time charter with a major energy company provides several key benefits:
- Stable Revenue Stream: The mid-high
$30,000 per day rate ensures consistent cash flow over the next five years, reducing NAT's exposure to volatile spot market rates. - Improved Financial Visibility: This contract enhances NAT's ability to forecast earnings and plan for future investments or debt reduction.
- Strong Industry Validation: Securing a long-term contract with a major energy company demonstrates confidence in NAT's fleet and operational capabilities.
The timing of this contract is particularly advantageous, as it locks in a favorable rate amid current strong tanker market conditions. This move balances NAT's portfolio between spot market exposure and fixed-rate contracts, potentially providing a more stable earnings profile for investors. However, it's important to note that while this contract offers stability, it may limit NAT's upside potential if spot rates were to significantly increase over the next five years.
This contract announcement reflects broader trends in the tanker market and energy sector:
- Energy Security Focus: Major companies are prioritizing long-term shipping arrangements to ensure reliable transportation of oil and petroleum products.
- Market Cycle Positioning: The willingness to commit to a five-year contract suggests expectations of sustained demand for tanker services.
- Fleet Utilization Strategy: NAT's success in securing this contract may indicate a shift towards a more balanced approach between spot and time charter markets.
For investors, this development signals NAT's proactive management of market cycles and potential for reduced earnings volatility. The mid-high
Tuesday, October 15, 2024
Dear Shareholders and Investors,
NYSE listed Nordic American Tankers Ltd (NAT) is pleased to announce a five-year time charter contract with a major international energy company.
The rate is in the mid-high 30’s and the contract is expected to commence in November 2024.
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
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