Nordic American Tankers Ltd (NYSE: NAT) – Results are out Tuesday May 31 before NYSE opening
This press release announces that Nordic American Tankers (NAT) will publish its Q1 2022 results before the NYSE opens on May 31, 2022. The company reports a time-charter equivalent (TCE) rate of approximately USD 20,000 per day for the second quarter, having booked about 70% of the quarter's capacity. The press release underscores the impact of the ongoing Russian/Ukrainian conflict on the shipping market and emphasizes the company's commitment to prioritizing dividends.
- TCE rate of USD 20,000 per day for Q2.
- 70% of Q2 capacity already booked.
- Uncertainty in the shipping market due to the Russian/Ukrainian conflict.
Monday, May 23, 2022
Message to the market:
This is to advise you that the results for the first quarter of 2022 will be published before NYSE opening May 31, 2022.
The market for our ships is dominated by implications caused by the Russian/Ukrainian conflict. Political events are well known to our business.
For the second quarter our TCE is about USD 20,000 per day. We have booked about
We will always prioritize dividend.
For contacts, please see at the end of this communication.
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.
NAT is a Bermuda based company.
Contacts:
Bjørn Giæver, CFO
Nordic American Tankers Ltd
Tel: +1 888 755 8391
Herbjørn Hansson, Founder, Chairman & CEO
Nordic American Tankers Ltd
Tel: +1 866 805 9504
FAQ
When does Nordic American Tankers plan to release its Q1 2022 results?
What is the expected TCE for Nordic American Tankers in Q2 2022?
What percentage of Q2 2022 capacity has Nordic American Tankers booked?
How is the Russian/Ukrainian conflict affecting Nordic American Tankers?
