The ninety -day period offers a short -term picture of a company, but more instructors to see a larger long -term picture. The direction of NAT is undoubtedly upwards when we create space for profitable growth. Whatever we do, dividends remain our main destination.
As part of our plan to buy several ships and sell several ships, we have since the end of 2024 agreed to buy a Suezmax tanker built in 2016 from the first class owner. The ship will be sent to NAT during the second quarter of this year. The price is in the middle/height of the 60s. The new unit will provide additional income and dividend capacity for NAT. We hope that the ship will be financed with cash and rental financing.
As previously suggested, we have sold one of the Suezmax tankers built in 2003 and the ship was sent to its new owner earlier this week. The proceeds from this sale ($ 23 mill) will also increase our financial flexibility.
Highlights:
- NAT reached a net travel income for a full year 2024 of $ 225 million and a net yield of $ 46.6 million. The average time of the Time Time (TCE) for our fleet (Spot & TC Vessels) during the fourth quarter of 2024 came with $ 26,416 per day per ship, leaving NAT with a solid operating margin due to operational costs per ship around $ 9,000 per day.
- Dividend for the fourth quarter is 6 cents ($ 0.06) per share. This is the declaration of our 1110th cash dividend. Dividends were paid on March 24, 2025, to the shareholders on the record on March 10, 2025.
- The new administration in the White House increases pressure on approved oil trading and approved ships. This is one of the reasons why we are optimistic about the prospects for 2025, because there will be more transportation work for NAT, a company that is fully obedient in everything. Nat has not transported Russian oil for the past 3.5 years.
- Following a new financing agreement and better $ 150 million with beal banks, our seven ships are not burdened and free from debt, thus giving us greater financial flexibility.
- In addition, we have used the purchase option for two of our 2018 -made vessels financed by rent through sea products, one of our two well -established financial partners. The ship will be transferred to us during the third quarter of this year. The market value of these ships is far more than extraordinary loans that give us additional maneuvering capabilities.
- Thanks to a careful travel planning and speed adjustment, we continue to reduce our ship’s emissions.
- Every ship in the NAT fleet is in very good technical conditions, as evidenced by the inspection performance.
Source: Nordic American Tankers Ltd.
