Hamilton, Bermuda, May 7, 2012
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Earnings per share in 1Q2012 was -$0.18, compared with -$0.15 in 1Q2011 and -$0.37 in 4Q2011.
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The Orion Pool has entered into a commercial framework agreement with a subsidiary of ExxonMobil Corporation. The establishment of the Orion Pool has resulted in important cost savings and a closer relationship with customers.
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On January 24, 2012, the Company closed an offering of shares, strengthening its capital with $75.9 million.
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Net voyage revenue per vessel per day achieved in the spot market in 1Q2012 was about $17,500, compared to $11,000 per vessel per day in 4Q2011. Certain ships were outside the Orion Pool most of 1Q2012. Now all our vessels are in the pool.
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We continue to focus on cost efficiency - both in the administration and onboard our vessels.
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The Company does not engage in any type of derivatives.
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The conservative financial risk profile of NAT will continue.
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Economic development in Asia remains strong while Europe is down and the growth in the US is still sluggish.
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"Financial Vetting" has become an increasingly relevant dimension in the tanker industry, as focus is now also on the financial health of companies.
http://www.nat.bm/IR/press_releases/1609298.html
Link to the complete 1Q12 dividend report:
http://hugin.info/201/R/1609298/511025.pdf
http://www.nat.bm
Photo: MT Nordic Moon
•
Earnings per share in 1Q2012 was -$0.18, compared with -$0.15 in 1Q2011 and -$0.37 in 4Q2011.
•
The Orion Pool has entered into a commercial framework agreement with a subsidiary of ExxonMobil Corporation. The establishment of the Orion Pool has resulted in important cost savings and a closer relationship with customers.
•
On January 24, 2012, the Company closed an offering of shares, strengthening its capital with $75.9 million.
•
Net voyage revenue per vessel per day achieved in the spot market in 1Q2012 was about $17,500, compared to $11,000 per vessel per day in 4Q2011. Certain ships were outside the Orion Pool most of 1Q2012. Now all our vessels are in the pool.
•
We continue to focus on cost efficiency - both in the administration and onboard our vessels.
•
The Company does not engage in any type of derivatives.
•
The conservative financial risk profile of NAT will continue.
•
Economic development in Asia remains strong while Europe is down and the growth in the US is still sluggish.
•
"Financial Vetting" has become an increasingly relevant dimension in the tanker industry, as focus is now also on the financial health of companies.
http://www.nat.bm/IR/press_releases/1609298.html
Link to the complete 1Q12 dividend report:
http://hugin.info/201/R/1609298/511025.pdf
http://www.nat.bm
Photo: MT Nordic Moon
8/5 2012 13:31 fcras 0
56671 On Monday, Nordic American Tanker CEO Herbjorn Hansson returned to the set of "Mad Money."
Watch the video to see the full interview!
http://video.cnbc.com/gallery/?video=3000088606
Watch the video to see the full interview!
http://video.cnbc.com/gallery/?video=3000088606
