REPEAT Wednesday, February 5, 2025   Dear Shareholders and Investors, A major project for 2025 is to...








    



            







    
        
            February 05, 2025 09:43 ET
        

        
             | Source:
            

                Nordic American Tankers Limited
            
                

        
    

    

    

    





        
  Wednesday, February 5, 2025    Dear Shareholders and Investors,  A major project for 2025 is to renew and grow our fleet. We plan to buy two or three ships and to sell two or three.As a first step, last week we agreed to sell one of our suezmaxes, built in 2003, which will net our company USD 22.5 million and thus strengthen our balance sheet. The buyer will take over the vessel in Q1 2025.We are helped in this major project by our two longtime financing partners, Beal Bank based in Dallas, and Ocean Yield, whose parent company is based in New York.As always, our financing is driven by our main goals of prioritizing dividends and retaining a sturdy balance sheet. Since NAT became stock listed in New York in 1995, we have paid dividends for 109 consecutive quarters. The transactions with Beal Bank and Ocean Yield will increase our liquidity and strongly enhance our financial flexibility.We look forward to a very active year for NAT.     Sincerely,  Herbjorn HanssonFounder, Chairman & CEO  Nordic American Tankers Ltd.                                                        www.nat.bm       CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS  Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.  The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intend,” “estimate,” “forecast,” “project,” “plan,” “potential,” “will,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements.  The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.  Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC’s petroleum production levels and worldwide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.    Contacts:         Bjørn Giæver, CFO                                                             Nordic American Tankers Ltd                                             Tel: +1 888 755 8391                                    Alexander Kihle, Finance ManagerNordic American Tankers LtdTel: +47 91 724 171        
            

Nordic American Tankers Ltd (NYSE: NAT) –

NAT plans to renew and expand its fleet in 2025.
Sale of a suezmax vessel will generate $22.5 million.
Dividends remain a priority with 109 consecutive quarters paid.
Financing partners Beal Bank and Ocean Yield support liquidity.
Shareholders can expect an active year ahead for NAT.

Nordic American Tankers Ltd (NYSE: NAT) –

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News