NORDIC AMERICAN TANKERS (NAT) Company Report

Analyst Coverage

Research analysts who have asked questions during NORDIC AMERICAN TANKERS earnings calls.

Liam Burke

B. Riley Financial

4 questions for NAT

Also covers: ALTG, BWMN, CCEC +22 more

Fotis Giannakoulis

Morgan Stanley

2 questions for NAT

Ken Davidson

Private Investor

2 questions for NAT

Omar Nokta

Jefferies

2 questions for NAT

Also covers: AMKBY, ASC, CCEC +21 more

Thomas Steed

Private Investor

2 questions for NAT

Craig Rose

Axiom Act Management

1 question for NAT

Erik Hovi

Clarksons

1 question for NAT

Greg Lewis

BTIG

1 question for NAT

Also covers: BLBD, BORR, CLSK +9 more

Gregory Lewis

BTIG, LLC

1 question for NAT

Also covers: BLBD, BTDR, CIFR +26 more

James Jang

Maxim Group

1 question for NAT

Joseph DePaul

DePaul Capital

1 question for NAT

Magnus Fyhr

Seaport Global Securities LLC

1 question for NAT

Michael Masco

MRM Capital

1 question for NAT

Michael Moncroft

MRM Capital

1 question for NAT

Mike Webber

Webber Research

1 question for NAT

Also covers: CLCO

Nick Lanham

Sefton

1 question for NAT

Randy Giveans

Jefferies

1 question for NAT

Turner Holm

Clarksons

1 question for NAT

Latest news

Recent press releases and 8-K filings for NAT.

Nordic American Tankers Announces Significant Fleet Transactions

NAT

New Projects/Investments

M&A

Nordic American Tankers (NAT) has signed agreements for the construction of two suezmax tankers at a cost of $86 million each, with delivery expected in 2028 from Daehan Shipbuilding.
The company also finalized the sale of two vessels built in 2004 and 2005, which generated $50 million in net cash for NAT.
These transactions are part of an active period for NAT, involving fleet refinancing, sales, purchases, and new orders, all occurring within a "very favorable tanker market".

Jan 16, 2026, 12:34 PM

Press Release

Nordic American Tankers: Hansson Family Increases Stake, Exceeds 5% Ownership

NAT

Dividends

Herbjorn Hansson, Founder, Chairman & CEO of NAT, purchased 200,000 shares at $3.50 per share, increasing his total holding to 5,300,000 shares.
Alexander Hansson, Vice-Chair, also acquired 200,000 shares at $3.50 per share, bringing his total to 5,350,000 shares.
Following these transactions, the Hansson family collectively owns 10,650,000 shares, surpassing the 5% ownership threshold and solidifying their position as the largest private shareholder group in NAT.
Nordic American Tankers has a track record of shareholder returns, having paid dividends for 113 consecutive quarters since becoming stocklisted in 1995.

Dec 22, 2025, 2:37 PM

Press Release

Nordic American Tankers Sells Two Suezmax Tankers and Plans Newbuildings

NAT

New Projects/Investments

Nordic American Tankers (NAT) has entered into firm agreements to sell two suezmax tankers (2004 and 2005-built) for a net price of $50 million, with delivery to buyers expected during January 2026.
The company anticipates recording a book profit of about $14 million from the sale of these two debt-free vessels, which will improve its cash position.
NAT also has a preliminary agreement for two newbuildings from a South-Korean shipyard, with a firm agreement expected in January 2026 and delivery scheduled for the second half of 2028.

Dec 18, 2025, 10:26 AM

Press Release

Nordic American Tankers Comments on Strong Market and Venezuela

NAT

Guidance Update

Revenue Acceleration/Inflection

Nordic American Tankers (NAT) reports a strong market for its suezmax vessels, characterized by vessel scarcity and high rates.
Recent spot fixtures for its suezmax vessels indicate Time Charter Equivalent (TCE) rates ranging from approximately $37,000 to $95,000 per day, significantly above the company's operating costs of about $9,000 per day.
The company notes a focus on Venezuela, which possesses about 17% of the world's oil reserves, though NAT's ships have not operated in the country for several years.

Dec 12, 2025, 2:22 PM

Press Release

Nordic American Tankers Limited Announces Q3 2025 Earnings and Dividend

NAT

Earnings

Dividends

New Projects/Investments

Nordic American Tankers Limited (NAT) declared a Q3 2025 dividend of 13 cents ($0.13) per share, marking its 113th consecutive quarterly cash dividend, payable on December 22, 2025, to shareholders of record as of December 8, 2025.
For the third quarter of 2025, NAT reported a net loss of -$2.8 million and an adjusted EBITDA of $21.4 million. The average time charter equivalent (TCE) for the fleet during this period was $27,490 per day per ship.
As of September 30, 2025, the company's Net Debt stood at $334.0 million, and its cash position was above $70 million at the report date.
NAT has entered into a preliminary agreement with a South Korean Shipyard to construct two new Suezmax tankers for delivery in the second half of 2028, adding to its current fleet of 20 Suezmax tankers.

Nov 28, 2025, 9:18 PM

6-K

Nordic American Tankers Reports Q3 2025 Results, Declares Dividend, and Plans Fleet Expansion

NAT

Dividends

Earnings

New Projects/Investments

Nordic American Tankers (NAT) declared a $0.13 per share cash dividend for the third quarter of 2025, representing its 113th consecutive quarterly payout, payable on December 22, 2025.
For the third quarter of 2025, the company reported an average time charter equivalent (TCE) of $27,490 per day per ship and an adjusted EBITDA of $21.4 million, alongside a net book loss of -$2.8 million.
NAT has entered a preliminary agreement for the construction of two new Suezmax tankers, anticipated for delivery in the second half of 2028, which will expand its current fleet of 20 Suezmax tankers.

Nov 28, 2025, 10:13 AM

Press Release

Nordic American Tankers Signs LOI for New Suezmax Tankers

NAT

New Projects/Investments

Nordic American Tankers Ltd (NAT) has agreed to a letter of intent (LOI) for the construction of two Suezmax tankers.
The tankers will be built at a South Korean shipyard.
Deliveries for the new vessels are planned for the second half of 2028.
The price for each ship is USD 86 million.
The final contract for the construction is expected to be signed in early 2026.

Nov 3, 2025, 10:34 AM

Press Release

Nordic American Tankers CEO Increases Shareholding

NAT

Dividends

On September 30, 2025, Nordic American Tankers' Founder, Chairman & CEO, Herbjorn Hansson, purchased 150,000 shares at $3.11 per share.
Following this transaction, Herbjorn Hansson now owns 5,100,000 shares, and his family collectively holds 10,250,000 shares, making them the largest private shareholder group.
The company has a consistent dividend history, having paid dividends for 113 consecutive quarters since becoming stocklisted in 1995.

Sep 30, 2025, 1:41 PM

Press Release

Nordic American Tankers Reports Q2 2025 Results and Declares Dividend

NAT

Earnings

Dividends

New Projects/Investments

Nordic American Tankers Limited (NAT) reported a net loss of $0.9 million and Adjusted EBITDA of $15.8 million for the second quarter of 2025. The average Time Charter Equivalent (TCE) for the fleet was $26,880 per day per ship.
The company declared a cash dividend of $0.10 per share for Q2 2025, marking its 112th consecutive quarterly cash dividend. The dividend is payable on September 29, 2025, to shareholders of record as of September 12, 2025.
As of June 30, 2025, NAT's fleet consists of 20 Suezmax tankers, with recent acquisitions ("Nordic Galaxy" and "Nordic Moon") and one vessel sale ("Nordic Castor") occurring in the quarter.
The company's cash and cash equivalents were $94.49 million as of June 30, 2025, with Net Debt standing at $321.4 million.

Sep 3, 2025, 8:20 PM

6-K

NAT Reports Q2 2025 Financials and Dividend

NAT

Earnings

Dividends

New Projects/Investments

Nordic American Tankers Ltd (NAT) declared a Q2 2025 dividend of $0.10 per share, marking its 112th consecutive quarterly cash dividend.
For the second quarter of 2025, NAT reported an average time charter equivalent (TCE) of $26,880 per day per ship and an adjusted EBITDA of $15.8 million.
The company recorded a net loss of $0.9 million for Q2 2025, which included the sale of the "Nordic Castor" vessel, and held a cash position of $86 million as of August 28, 2025.
During Q2 2025, NAT added the "Nordic Galaxy" and "Nordic Moon" to its fleet while selling the "Nordic Castor," resulting in a current fleet of 20 suezmax tankers.