Nordic American Tankers Ltd (NYSE: NAT) – The NAT fleet is expanding, providing room for continued dividend payments
Nordic American Tankers (NYSE: NAT) has announced the expansion of its fleet with two Suezmax tankers built in 2016 by Sungdong shipyard in South Korea. The first vessel is scheduled for delivery by the end of March 2025, while the sister vessel will be delivered in April 2025. The price for the second vessel is in the mid/high USD 60s million range.
Both vessels are fully financed and expected to enhance the company's earnings and dividend capacity. With these acquisitions, NAT's fleet will grow to 21 Suezmax tankers. The company plans to continue its strategy of acquiring ships while selling select units. Management indicates that 2025 is expected to be an active year for NAT, highlighting the company's strong market position.
Nordic American Tankers (NYSE: NAT) ha annunciato l'espansione della sua flotta con due petroliere Suezmax costruite nel 2016 dal cantiere navale Sungdong in Corea del Sud. La prima nave è prevista in consegna entro la fine di marzo 2025, mentre la nave gemella sarà consegnata ad aprile 2025. Il prezzo per la seconda nave si colloca nella fascia medio/alta dei 60 milioni di USD.
Entrambe le navi sono completamente finanziate e si prevede che migliorino i guadagni e la capacità di dividendo dell'azienda. Con queste acquisizioni, la flotta di NAT crescerà a 21 petroliere Suezmax. L'azienda prevede di continuare la sua strategia di acquisizione di navi mentre vende unità selezionate. La direzione indica che il 2025 dovrebbe essere un anno attivo per NAT, sottolineando la forte posizione di mercato dell'azienda.
Nordic American Tankers (NYSE: NAT) ha anunciado la expansión de su flota con dos petroleros Suezmax construidos en 2016 por el astillero Sungdong en Corea del Sur. El primer buque está programado para ser entregado a finales de marzo de 2025, mientras que el buque gemelo será entregado en abril de 2025. El precio del segundo buque se encuentra en el rango medio/alto de 60 millones de USD.
Ambos buques están totalmente financiados y se espera que mejoren las ganancias y la capacidad de dividendos de la empresa. Con estas adquisiciones, la flota de NAT crecerá a 21 petroleros Suezmax. La empresa planea continuar su estrategia de adquisición de barcos mientras vende unidades seleccionadas. La dirección indica que se espera que 2025 sea un año activo para NAT, destacando la fuerte posición de mercado de la empresa.
노르딕 아메리칸 탱커스 (NYSE: NAT)는 한국의 성동 조선소에서 2016년에 건조된 두 척의 Suezmax 유조선으로 함대를 확장한다고 발표했습니다. 첫 번째 선박은 2025년 3월 말까지 인도될 예정이며, 자매 선박은 2025년 4월에 인도될 것입니다. 두 번째 선박의 가격은 중/상위 6000만 달러대에 해당합니다.
두 선박 모두 완전히 자금이 조달된 상태이며 회사의 수익과 배당 능력을 향상시킬 것으로 예상됩니다. 이러한 인수로 NAT의 함대는 21척의 Suezmax 유조선으로 성장할 것입니다. 회사는 선박을 인수하는 전략을 계속하면서 선택된 유닛을 판매할 계획입니다. 경영진은 2025년이 NAT에게 활성적인 해가 될 것으로 예상하며, 회사의 강력한 시장 위치를 강조합니다.
Nordic American Tankers (NYSE: NAT) a annoncé l'expansion de sa flotte avec deux pétroliers Suezmax construits en 2016 par le chantier naval Sungdong en Corée du Sud. Le premier navire est prévu pour être livré d'ici la fin mars 2025, tandis que le navire jumeau sera livré en avril 2025. Le prix du deuxième navire se situe dans la fourchette moyenne/haute des 60 millions de USD.
Les deux navires sont entièrement financés et devraient améliorer les bénéfices et la capacité de dividende de l'entreprise. Avec ces acquisitions, la flotte de NAT passera à 21 pétroliers Suezmax. L'entreprise prévoit de continuer sa stratégie d'acquisition de navires tout en vendant des unités sélectionnées. La direction indique que 2025 devrait être une année active pour NAT, soulignant la forte position de marché de l'entreprise.
Nordic American Tankers (NYSE: NAT) hat die Erweiterung seiner Flotte mit zwei 2016 von der Sungdong-Werft in Südkorea gebauten Suezmax-Tankern angekündigt. Das erste Schiff soll bis Ende März 2025 ausgeliefert werden, während das Schwesterschiff im April 2025 geliefert wird. Der Preis für das zweite Schiff liegt im mittleren bis oberen Bereich von 60 Millionen USD.
Beide Schiffe sind vollständig finanziert und sollen die Erträge und die Dividendenkapazität des Unternehmens steigern. Mit diesen Akquisitionen wird die Flotte von NAT auf 21 Suezmax-Tanker anwachsen. Das Unternehmen plant, seine Strategie fortzusetzen, Schiffe zu erwerben und gleichzeitig ausgewählte Einheiten zu verkaufen. Das Management weist darauf hin, dass 2025 ein aktives Jahr für NAT erwartet wird und hebt die starke Marktposition des Unternehmens hervor.
- Fleet expansion with two modern 2016-built Suezmax tankers
- Both vessels are fully financed
- Additional earnings and dividend capacity expected
- Strong market position indicated for 2025
- Significant capital expenditure in mid/high USD 60s million for vessel acquisition
Friday, March 14, 2025
Dear Shareholders and Investors,
As previously communicated, we recently acquired a Sungdong (South-Korea) built suezmax tanker from a first-class owner. The vessel is expected to be delivered to NAT at the end of this month (March 2025).
Sungdong was controlled by the Samsung group at the time.
The vessel has been owned by the same company since it was built in 2016.
We have now agreed to acquire a sister vessel, from the same owner, also built in 2016 at the same South-Korean yard. This vessel will be delivered to NAT within April this year.
The price to NAT is in the mid/high USD 60s.
Both vessels are fully financed and will provide additional earnings and dividend capacity.
Following these transactions , the NAT fleet will consist of 21 well maintained suezmax tankers.
We follow the plan to acquire ships and sell a few units.
2025 is expected to be an active year for NAT, which is in a strong position.
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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What is the purchase price of NAT's new Suezmax tanker acquisition?
When will NAT take delivery of the two new Suezmax tankers?
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What is the age of the Suezmax tankers being acquired by NAT?
