Nordic American Tanker - NAT STOCK NEWS

Nordic American Tankers received an Award from the President of South Korea for promoting the country, presented by the Korean Ambassador in Oslo. Despite a temporary slowdown in Q4, NAT anticipates a strong 2020 due to rapid recovery in Asian economies. The company emphasizes its ongoing trading activities in the East and expresses optimism for a robust tanker market in 2021. This recognition underlines NAT's commitment to enhancing relationships in Asia, particularly South Korea.

Nordic American Tankers Ltd. announced that Alexander Hansson, a Director and son of the CEO, has purchased 45,000 shares at $3.29 per share. This acquisition signals confidence among the leadership in the company's potential. However, the forward-looking statements in the release caution about uncertainties in market conditions, operational expenses, and regulatory environments that could impact future performance. Investors should consider these factors when evaluating stock movements.

On December 1, 2020, Nordic American Tankers (NAT) reassured shareholders regarding the impact of Covid-19 on its operations, emphasizing stable demand from the Far East. NAT remains committed to its dividend policy, having distributed dividends quarterly since 1997. The company avoids scrubber installations to reduce risk, utilizing fully compliant fuel. NAT maintains a positive outlook on the tanker market while highlighting potential uncertainties in its forward-looking statements. The company's consistent dividend history underscores its commitment to shareholders.

Nordic American Tankers Ltd. reported an average Time Charter Equivalent (TCE) of $25,000 per day per ship for Q3 2020, marking a strong performance. Despite challenges from the pandemic, the company anticipates a favorable market outlook. They paid $60 million in dividends, with the latest being $0.04 per share. The net income for Q3 was - $10 million, but year-to-date net income stands at $78.7 million, a substantial improvement from the previous year. Total long-term liabilities are $313.3 million.

Nordic American Tankers Ltd. (NAT) expressed confidence in its market position despite recent short-term market fluctuations. The company operates 25 suezmax tankers, including two newbuildings set for 2022 delivery. NAT emphasizes its ongoing upward trajectory, urging shareholders to anticipate positive results in upcoming earnings reports on November 16. The company prioritizes dividends, linking them to earnings performance. Caution is advised regarding forward-looking statements, as market conditions and operational factors may impact future results.

Nordic American Tankers Limited has scheduled its 2020 Annual General Meeting (AGM) for December 18, 2020, at 10:00 a.m. Bermuda time, in Monaco. The record date for shareholders eligible to vote is set for October 26, 2020. Shareholders will find the Notice of Meeting and Proxy Statement available on the SEC's Form 6-K today. The company emphasizes adherence to safe harbor provisions for forward-looking statements, cautioning that actual results may significantly differ due to various uncertainties, including market conditions and operational expenses.

Alexander Hansson, a director at NAT, has acquired 45,000 shares at $3.52 each as of October 16, 2020. He is the son of Herbjorn Hansson, the founder and CEO of Nordic American Tankers. This purchase signals confidence in the company amidst fluctuating market conditions. NAT is based in Bermuda and involved in the tanker market, influenced by OPEC's production levels and global oil demand.

On October 16, 2020, Nordic American Tankers (NAT) announced a financing agreement with a subsidiary of Ocean Yield ASA for two Suezmax newbuildings previously contracted with Samsung Heavy Industries. This financing covers up to 80% of the newbuilding price, secured with a 10-year bareboat charter for each vessel. NAT aims to achieve a debt-free position and has options to buy or sell the vessels during the charter period. This early financing arrangement is seen as beneficial for the company's strategic objectives.

Nordic American Tankers Limited (NAT), a Bermuda-based company, emphasizes the significance of its forward-looking statements in a recent announcement. The press release includes disclaimers about the inherent uncertainties associated with predictions regarding the company's future performance, operations, and market conditions. Factors that could materially affect actual results include economic strength, tanker market demand, operating expenses, regulatory changes, and potential disruptions in shipping routes. The company aims to leverage safe harbor protections under the Private Securities Litigation Reform Act of 1995.