30/07/2014
Nordic American Tankers (NAT) has always kept a strong balance sheet with low net debt. NAT focuses on limiting the company's financial risk. Continuing this policy, at the end of the 1Q14, net debt per NAT vessel stood at $6.4 million.
The tightened terms of commercial bank financing and higher margins on shipping loans are challenging for shipping companies that are highly leveraged. By having little net debt and a strong balance sheet, NAT is better positioned to navigate the financial seas. The company believes that this is in the best interests of the shareholders.
Strategic planning
In weaker market conditions in 2012 and 2013, NAT used the opportunity to have ships in planned drydock for maintenance to ensure continued top technical quality of the vessels. This has proved very advantageous to implement the comprehensive drydocking, maintenance, and improvement work for many of NAT's ships during a period of low rates, when the cost of time is lower. NAT operates in an industry with peers like DHT Holdings Inc. (or DHT), Teekay Tankers Ltd. (TNK), Navios Maritime Acquisition (NNA), and Tsakos Energy Navigation Ltd. (TNP). The Guggenheim Shipping ETF (SEA) tracks these companies.
Looking ahead, with NAT completing its two drydockings in 2014, drydocking costs and off-hire-time out of service-should be significantly reduced and the number of revenue days should increase because there aren't anymore scheduled drydockings for 2014.
Outlook
Looking ahead the company comments that NAT is in an excellent position to reap immediate financial benefits when the market turns around. Also, with its fleet in top technical condition, NAT has been able to expand its Suezmax fleet from 20 to 22 vessels in 2014. Meanwhile, a stock issue of 13.8 million shares closed on April 10. It generated net proceeds of $113.6 million which would be reflected in the 2Q14 financials.
Also, it predicts a period in the tanker business where the supply of ships will shrink. This will lead to an improved balance between supply and demand. The recent volatility in the Spot market is also indicating a tighter balance between supply and demand.
In the future, the company estimates that after the acquisition of vessels or other forms of vessel expansion, NAT should be able to pay higher dividend per share and produce higher earnings per share.
Source: Market Realist
http://www.hellenicshippingnews.com/must-know-nordics-low-debt-strategic-planning-and-outlook/
Nordic American Tankers (NAT)
http://www.nat.bm/
30/07/2014
Nordic American Tankers (NAT) has always kept a strong balance sheet with low net debt. NAT focuses on limiting the company's financial risk. Continuing this policy, at the end of the 1Q14, net debt per NAT vessel stood at $6.4 million.
The tightened terms of commercial bank financing and higher margins on shipping loans are challenging for shipping companies that are highly leveraged. By having little net debt and a strong balance sheet, NAT is better positioned to navigate the financial seas. The company believes that this is in the best interests of the shareholders.
Strategic planning
In weaker market conditions in 2012 and 2013, NAT used the opportunity to have ships in planned drydock for maintenance to ensure continued top technical quality of the vessels. This has proved very advantageous to implement the comprehensive drydocking, maintenance, and improvement work for many of NAT's ships during a period of low rates, when the cost of time is lower. NAT operates in an industry with peers like DHT Holdings Inc. (or DHT), Teekay Tankers Ltd. (TNK), Navios Maritime Acquisition (NNA), and Tsakos Energy Navigation Ltd. (TNP). The Guggenheim Shipping ETF (SEA) tracks these companies.
Looking ahead, with NAT completing its two drydockings in 2014, drydocking costs and off-hire-time out of service-should be significantly reduced and the number of revenue days should increase because there aren't anymore scheduled drydockings for 2014.
Outlook
Looking ahead the company comments that NAT is in an excellent position to reap immediate financial benefits when the market turns around. Also, with its fleet in top technical condition, NAT has been able to expand its Suezmax fleet from 20 to 22 vessels in 2014. Meanwhile, a stock issue of 13.8 million shares closed on April 10. It generated net proceeds of $113.6 million which would be reflected in the 2Q14 financials.
Also, it predicts a period in the tanker business where the supply of ships will shrink. This will lead to an improved balance between supply and demand. The recent volatility in the Spot market is also indicating a tighter balance between supply and demand.
In the future, the company estimates that after the acquisition of vessels or other forms of vessel expansion, NAT should be able to pay higher dividend per share and produce higher earnings per share.
Source: Market Realist
http://www.hellenicshippingnews.com/must-know-nordics-low-debt-strategic-planning-and-outlook/
Nordic American Tankers (NAT)
http://www.nat.bm/
31/7 2014 11:13 fcras 0
69574 Nordic American Offshore Ltd. (NYSE:NAO) - Declaration of dividend.
Hamilton, Bermuda, July 31, 2014
Nordic American Offshore Ltd. («the Company») today announced that its Board of Directors has declared a dividend of $0.45 per common share for the 2nd quarter 2014. This is the same as for the 1st quarter 2014. The payment of dividend is expected to take place on or about August 29, 2014 to shareholders of record as of August 18, 2014.
The Company expects to release its 2Q2014 earnings report before NYSE opens August 6, 2014.
NAO Website:
http://www.naoffshore.com/
http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=NAO&selected=NAO
Hamilton, Bermuda, July 31, 2014
Nordic American Offshore Ltd. («the Company») today announced that its Board of Directors has declared a dividend of $0.45 per common share for the 2nd quarter 2014. This is the same as for the 1st quarter 2014. The payment of dividend is expected to take place on or about August 29, 2014 to shareholders of record as of August 18, 2014.
The Company expects to release its 2Q2014 earnings report before NYSE opens August 6, 2014.
NAO Website:
http://www.naoffshore.com/
http://www.nasdaq.com/aspx/infoquotes.aspx?symbol=NAO&selected=NAO
