Nordic American Tankers Limited announce an underwritten public offering of approximately $65 million aggregate amount of common shares. The company's Chairman and Chief Executive Officer, Mr. Herbjørn Hansson is expected to purchase about $2.0 million worth of common shares in the offering on the same terms as other investors. The company says it intends to use the net proceeds of this offering primarily to finance its investment in Nordic American Offshore Ltd. ("NAO"). NAO is an independent company from Nordic American Tankers that will initially own six platform supply vessels built in 2012 and 2013 by the Ulstein Group in Norway. One objective of the NAT investment in NAO is to enable NAT to pay a higher dividend to NAT shareholders than otherwise would be the case. The investors participating in this offering, inform NAT, are entitled to a dividend of $0.16 per share. This dividend was announced October 21, 2013 and is payable on or about December 11, 2013. About Nordic American Tankers The company is an international tanker company that owns 20 double-hull Suezmax tankers.
One of Nordic American's Suezmax tankers had to stay in a US port about 10 days longer than planned following a detention in December 2012. In the press release of December 6, 2012, Nordic American Tankers (NAT) announced that it was working closely with US authorities to provide the information that they requested. NAT is pleased that it has been confirmed now that no charges have been lodged or will be lodged against them in connection with this incident.
Nordic American Tanker Shipping Ltd. announced that the company has taken delivery of the suezmax vessel that it agreed to acquire in July this year. The 2003 built suezmax tanker has been named Nordic Apollo and was taken over today November 09, 2006. Including the Nordic Apollo the fleet of the Company has increased from three to ten suezmax vessels over the last 24 months. The vessel is employed in the spot market thus increasing the Company's vessels with spot market exposure from
Nordic American Tankers Limited (NAT) has taken delivery of its second suezmax newbuilding tanker of 158,000 deadweight tons built at Samsung Heavy Industries Co., Ltd., South Korea. The Nordic Zenith was delivered to the Company November 8, 2011. At the end of 2010, Nordic American had 15 vessels employed in the market. Through disciplined financial management and a well-defined operating model, the Company now has a fleet of 20 suezmax vessels including the Nordic Zenith
The company is to offer $87 million aggregate amount of common shares to the public to help fund its expansion programme. The Company's Chairman and Chief Executive Officer, Mr. Herbjørn Hansson is expected to purchase about $1.5 million worth of common shares in the offering on the same terms as other investors. The net proceeds of the offering are expected to be used to pay for acquisitions under our expansion program, including the tankship Nordic Future
Nordic American Tankers (NAT) published its financial results from 4Q 2013, noting an expected increase in tanker rates that the company expects to play a role in its recovery. NAT’s results are below: In early December 2013 the Suezmax tanker rates increased significantly compared with the average for 2013. A few weeks into 2014 the rates have weakened again. We expect improved results in 1Q 2014. The timecharter results of NAT were slightly lower in 4Q 2013 than in 3Q 2013
Nordic American Tanker Shipping Ltd. agreed to acquire two Suezmax tankers, bringing its total Suezmax tanker total to 12. These vessels, one built in 2002 and one in 2003 in the Samsung shipyard in South Korea, are sister vessels to the company's 10th vessel (built 2003) whose acquisition was announced on July 17. The aggregate price for the three sister vessels is $246m. All the twelve vessels of the company have double hull
Oil tanker owners are celebrating one of the industry's most notable turnrounds after charter rates for some vessel classes multiplied around seven times in the space of a few weeks. Owners of Very Large Crude Carriers (VLCCs), capable of carrying 2m barrels of oil, have been chartering their vessels for as much as $150,000 a day in the past two weeks, against only just over $20,000 in early November. The spike results mainly from industry fears about the effect on tankers of the strong
Nordic American Tankers Ltd. Letter to Shareholders From the Chairman and CEO - NAT Is Different. Dear Shareholder, It is time to update you on recent developments in the Company and our industry. As we have stated before, it is at times of difficulty for the industry that NAT in particular improves its position relative to its peers. We believe that important factors differentiate NAT from other tanker companies
The offshore shipping company Nordic American Offshore (NAO) has contracted two platform supply vessels (PSVs) of ULSTEIN’s PX121 design. These vessels will be number seven and eight which NAO buys from ULSTEIN. In December 2013, NAO invested in six vessels of the PX121 design, which had been constructed at Ulstein Verft. The two new vessels are planned for delivery from Ulstein Verft in January 2015. The total value of these eight vessels exceeds NOK 2 billion.
Nordic American Tankers Limited (NAT) today announced that the 66th dividend of NAT is expected to be $0.25 per share compared with $0.16 per share for 3Q2013. This time the dividend consists of two parts; a cash dividend of $0.12 per common share and a partial distribution of shares held by NAT
Nordic American Tankers (NAT) announced that an arbitration panel in London has produced an award in favor of NAT. Gulf Navigation Holding PJSC (GulfNav) was the other party in the arbitration. The case relates to the six-year bareboat charter with GulfNav of the Suezmax vessel Gulf Scandic (now
Nordic American Offshore Ltd., which is sponsored by Nordic American Tankers Limited (NAT) and is managed by a subsidiary of NAT, currently has six platform supply vessels operating in the demanding North Sea market. PSVs are highly sophisticated vessels
Nordic Shipholding A/S has appointed Thome Ship Management Pte Ltd and Columbia Shipmanagement (Singapore) Pte Ltd as new technical managers of its vessels replacing TB Marine Shipmanagement GmbH & Co. KG. The change in technical manager involves one-off costs.
Nordic American Tankers Ltd. announced the pricing of its previously announced underwritten public offering. The company agreed to sell 8,125,000 common shares at a public offering price of $8 per share. The common shares are being offered pursuant to the company's effective shelf registration
Prices 8.13 Mln Public Share Sale at Discounted $8/Share Nordic American Tanker (NAT) opened this morning on the stock exchange down more than 10% (Down $0.85 to $8.025/share in late morning trading) after saying it has priced a 8.13 million public offering at $8 per share
Nordic Shipholding has entered a conditional restructuring agreement with Nordic Maritime, who will take over Nordic Ship Holdings debt of about US$ 58,000,000. The company inform that after the restructuring it will be a tonnage provider in the product tanker segment and the objective is
Nordic American Tankers Ltd. (NAT) inform that they have created a new offshore supply vessel company, Nordic American Offshore Ltd. that has completed a $250m private placement. Earlier this month the investor market was informed that NAT was coordinating the establishment of Nordic American
Nordic American Tankers Limited inform that, in connection with its previous public offering of 8,125,000 common shares at a public offering price of $8.00 per share, the underwriters have exercised a portion of the option granted to them by the Company and will purchase an additional 1,018
Nordic American Tankers Limited (NAT) Chairman and CEO, Herbjorn Hansson, Issued a letter to shareholders addressing the yearend rally in the crude tanker market and strongly increased rates. Dear Shareholder, As we approach the end of the year
Frederikshavn Harbour and Nordic Marine Oil have entered a strategic agreement to establish a tank farm at the port of Frederikshavn with at least 20,000 cubic meters with the possibility of further extension. The tank system to be used as storage of fuel for ships in the port of Frederikshavn
In light of the development of Nordic Shipholding A/S's cash position, as announced by the company in company announcement no. 11/13 published on December 13, 2013, Nordic Maritime has informed the company that it will exercise the option granted to Nordic Maritime in the conditional restructuring
In a major shareholder announcement Nordic Shipholding A/S informs that Nordic Maritime S.à r.l. has acquired a total of 308,791,660 shares in Nordic Shipholding A/S and now directly holds 76.03 % of the share capital and voting rights in Nordic Shipholding A/S: summarised as
Nordic American Tankers Limited (NAT) issued a letter to shareholders from the company’s chairman and CEO, Herbjorn Hansson, noting improved market conditions for NAT’s Suezmax tankers. In a December 10, 2013 letter to shareholders
Nordic American Tankers (NAT) said that NAO took delivery of the last of the six recently built Platform Supply Vessels (PSVs) from the Ulstein Group of Norway. NAO is fully operational. NAT is the sponsor of NAO, owning 26% of the share capital in NAO. A subsidiary of NAT is