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Tag: NAT Stock

  • Nordic American Tankers Limited (NAT) stock is soaring in the pre-market. Here’s why

    Nordic American Tankers Limited (NAT) stock is soaring in the pre-market. Here’s why

    The stock of Nordic American Tankers Limited (NAT) closed the recent trading session at $2.27, a gain of 2.25% from the previous trading day. On the last check, NAT stock remained bullish in the pre-market, gaining 8.37% to $2.46. The firm issued a letter to its investor on 4 March 2022. The letter talks about the sale of one more vessel. Also, the company filed form 6-K with the SEC on 28 February 2022.

    NAT News

    Nordic American Tankers Limited (NAT) issued a letter to its investors that talks about the sale of the vessel. The letter stated that NAT instructed the investor concerning their essential proceeds to change their fleet, on 28 July 2021. The company sold “Nordic Sirius” and “Nordic Mistral” in October 2021 and February 2022, respectively. NAT declared to trade one more vessel built-in 2002, to a respectable purchaser. Also, the new proprietors will get them before March concludes. The deals pay off the NAT obligation. In the current unstable times, NAT has advanced its situation through the previously mentioned exchanges. The cost for NAT is about $15 million for every vessel.

    This message represents a bustling NAT period. The financing of two new buildings is in order which is assessed to be $90 million. A key and significant exchange including Oman has concurred. Deals of three vessels have been finished up which is assessed to be $45 million.

    Financials

    Moreover, On 25 February 2022, NAT published the fiscal performance for Q4 and FY21. The main points are

    • The total sales in Q4 of FY21 expanded by 38.8% to $22.6 million versus $16.2 million in Q4 of FY2020. Also, the sales for FY2021 declined by 71% to $67.4 million from $233.5 million in FY2020.
    • The total loss of $21.04 million in Q4 of FY2021 versus $28.6 million in the same period last year. This marks a decrease of 26.5%. Also, the total loss in FY2021 was $119.4 million against the total income of $50.3 million in FY2020.
    • Moreover, loss of $0.12 and $0.73 per stock in Q4 and FY2021, respectively.

  • Nordic American Tankers Limited (NAT) gained in the Pre-market; here is why?

    After recently announcing two six-year time charters, Nordic American Tankers Limited (NAT) gained in the pre-market. NAT values at $1.59, gaining more than 2% compared to yesterday’s closing price. The stock closed at $1.57 at the end of the last trading session. The stock volume traded in the last trading session was around 2.46 million shares. The current market cap of the company is around $303.73 million.

    NAT announced two six-year Time charters

    NAT is gaining in the pre-market despite any significant development in the business or any sort of important news. However, last week the company announced two 6-year time charters.

    Nordic American Tankers Limited (NAT) announced in a press release on February 09, 2022, Nordic American Tankers Limited (NAT) announced that two six-year Time Charters had been completed for our two Suezmax new buildings delivered in May and June 2022.

    Their delivery from the South Korean shipyard, ASYAD Shipping Company, will kick off the contracts. NAT currently has 23 ships in its fleet after selling two recently.

    The agreed time charter rates will provide a steady cash stream for the next six years, totaling over USD 100 million. After operating expenditures, cash flow from these contracts will exceed 60% of the initial vessel price.

    NAT CEO Dr. Ibrahim Al Nadhairi remarks

    The contracts are with a reputable New York Stock Exchange-listed business, NAT. More projects between our firms may establish in the future. It is a further extension of ASYAD Shipping’s crude transportation operations. This strategic union will help Asyad maintain its top spot in shipping and logistics. It would also help Oman become a global logistics center by enhancing its operational skills.

    Conclusion

    The company’s stock gained in the pre-market despite any sort of important news. We can assume the link to its recently announced time charters. They expect that the new charters will bring $100 million in revenue in the upcoming six years. Investors are responding positively to the significant development in the business due to which the stock is surging in pre-market today. The company will soon announce its fourth quarter and fiscal 2021 results.

  • Shipping Stocks Worth Looking Into

    Shipping Stocks Worth Looking Into

    The shipping industry consists of companies which transport cargo all over the world, including anything and everything. These companies transport commodities through any means of transport, whether by land, air, or sea, regardless of what the word ‘shipping’ implies. But many of the shipping companies within the industry have been heavily impacted by the pandemic and have underperformed. While the stocks in the shipping industry have suffered this year, they are expected to improve next year with the situation of the virus coming to an end. Some of the shipping stocks worth considering right now are:

    Nordic American Tanker Ltd (NYSE: NAT)

    Nordic American Tankers Ltd., is a Norwegian shipping company which owns as well as charters oil tankers for the purpose of transportation services worldwide. The company also announced two new building contracts with Samsun Heavy Industries this year in which financing has been secured for the promised delivers of two suezmaxes by 2022.

    In the third quarter of this year, Nordic American reported performance by the Time Charter Equivalent (TCE) was $25,000. In terms of revenue, Nordic American also showed the strongest average daily performance per vessel in many years. The company also paid $60 million, 41 per cent, in dividends this year.

    International Seaways Inc (NYSE: INSW)

    International Seaways Inc., owns and also operates ocean travelling shipping vessels and it primarily deals in transporting crude oil and other petroleum products for its customers worldwide. In the second quarter for this year, the net income for International Seaways was $64.4 million which is a big improvement over last year’s second quarter’s net losses of $16.5 million.

    In the third quarter for this year, the net income for International Seaways was $14 million and reflects the impact of a $12.8 million impairment charge. TCE’s revenues for the third quarter were $94 million and it has also paid a regular quarterly cash dividend of $0.06 per share and announced it the same as payable in December as well.

    Matson Inc (NYSE: MATX)

    Matson Inc., is a United States owned logistics and transportation company which provides its services all though North America, South Pacific, Japan, and China. Matson also offers domestic and international intermodal rail service for both regional highway service and also for long hauls. It is also a supplier for third party logistics and supply chain offerings.

    For the third quarter this year, Matson reported a net income of $70.9 million which included it at $1.63 per diluted share. Matson’s consolidated revenue for the nine months until September of this year was at $1,683.2 million which is higher than that of the previous year.

    A.P. Moller – Maersk

    A.P. Moller – Maersk is an integrated logistics and transports bases company in Denmark which operated tankers, oil drilling rigs, container vessels, and supply ships. It operates in more than 130 countries with more than 76, 000 employees. Other than that, Maersk also explores the world for oil and gas sites and produces it as well.

    For the third quarter of this year, Maersk reported an 82.1 per cent year over year increase in profit from its continuing operations and this was largely the result of its rising land based logistics revenue which led to it having a stronger recovery in the market.