1. NAT sells two suezmax tankers for $50 million, boosting cash. 2. Sale expected to realize a book profit of $14 million. 3. NAT plans to construct two new vessels for 2028 delivery. 4. Upcoming agreements may be finalized by January 2026. 5. Overall prospects for NAT remain positive and encouraging.
FAQ
Why Bullish?
The sale of tankers at a profit strengthens NAT's balance sheet, reminiscent of previous profit-positive asset sales.
How important is it?
The financial maneuver benefits cash positions and investor confidence in short-term performance.
Why Short Term?
Immediate cash flow improvement is likely to positively influence NAT's stock in upcoming weeks.
Nordic American Tankers Ltd (NYSE: NAT) Announces Strategic Sale of Suezmax Tankers
December 18, 2025 – In a significant development for shareholders, Nordic American Tankers Ltd (NAT) has confirmed the sale of two Suezmax tankers, solidifying its financial position.
Details of the Tanker Sale
NAT has entered into binding agreements to sell two Suezmax tankers, constructed in 2004 and 2005, for a total net price of $50 million. This transaction is expected to bolster NAT's cash reserves substantially.
The sale is scheduled for completion, with the vessels anticipated to be delivered to buyers in January 2026. Notably, both vessels are debt-free, marking a significant financial advantage for Nordic American Tankers.
Projected Profit and Future Plans
As a result of the sale, NAT expects to record a book profit of approximately $14 million. CEO Herbjorn Hansson expressed optimism regarding the company’s future strategies.
In addition to the sale, NAT has also initiated a preliminary agreement for the construction of two newbuild vessels at a South Korean shipyard, with deliveries scheduled for the second half of 2028. A formal agreement is expected to be finalized by January 2026.
Implications for Investors
This strategic move by Nordic American Tankers (NAT) demonstrates their commitment to enhancing cash flow and reducing financial liabilities. The planned acquisition of new vessels positions the company for future growth in the tanker market.
According to Hansson, "Prospects for our group are good," reflecting confidence in both the industry landscape and NAT’s strategic initiatives. The company's proactive approach is expected to drive sustained shareholder value.
Cautionary Note on Forward-Looking Statements
This announcement may contain forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on various assumptions that might not be realized, including fluctuations in global economic conditions and market demands.
Investors are advised that actual results may differ materially from those anticipated due to several factors, including:
- Fluctuations in charter rates and vessel values
- Changes in OPEC’s production levels
- Variations in operating expenses like bunker prices
- Market conditions affecting vessel availability
- Potential disruptions from geopolitical events
Contact Information
For more information, please contact:
- Bjørn Giæver, CFO, Nordic American Tankers Ltd, Tel: +1 888 755 8391
- Alexander Kihle, Finance Manager, Nordic American Tankers Ltd, Tel: +47 91 724 171