Nordic American Tankers Ltd Signs Contracts for Two Suezmax Tankers at $86 Million Each
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 16 2026
0mins
Should l Buy NAT?
Source: Globenewswire
- New Ship Orders: Nordic American Tankers Ltd has signed contracts with Daehan Shipbuilding for the construction of two Suezmax tankers at $86 million each, expected to be delivered in 2028, thereby enhancing the company's competitive position in the tanker market.
- Asset Sales: The company has finalized the sale of two vessels built in 2004 and 2005, generating net cash proceeds of $50 million, which aids in optimizing asset structure and improving liquidity.
- Market Environment: The current favorable tanker market conditions allow the company to actively engage in fleet refinancing and transactions, demonstrating its solid position and growth potential within the industry.
- Strategic Adjustments: By selling four vessels and ordering two new ones, Nordic American Tankers Ltd showcases its ability to adapt to market changes, aiming to further enhance operational efficiency and increase market share.
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Analyst Views on NAT
Wall Street analysts forecast NAT stock price to fall
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 5.450
Low
3.00
Averages
3.00
High
3.00
Current: 5.450
Low
3.00
Averages
3.00
High
3.00
About NAT
Nordic American Tankers Limited is an international tanker company focusing solely on owning, operating, and chartering of Suezmax tankers. The Company has a fleet of approximately 20 Suezmax crude oil tankers. Its Suezmax vessels have a carrying capacity of one million barrels of oil. The Company's tankers operating in the spot market are chartered for a single voyage. The vessels in the Company's fleet are homogenous and interchangeable as they have the same freight capacity and ability to transport the same type of cargo. Its vessels include Nordic Pollux, Nordic Apollo, Nordic Luna, Nordic Castor, Nordic Freedom, Nordic Sprinter, Nordic Skier, Nordic Vega, Nordic Light, Nordic Cross, Nordic Breeze, Nordic Zenith, Nordic Star, Nordic Space, Nordic Aquarius, Nordic Cygnus, Nordic Tellus, Nordic Hunter and Nordic Harrier.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Biogen's Multiple Catalysts: UBS upgraded Biogen to buy with a price target of $225, citing increasing confidence in several pipeline catalysts expected to drive stock price higher over the next 12-15 months.
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- Rate Decline: Crude tanker rates in the European and Atlantic markets have retreated to pre-war levels, primarily due to tankers that would have returned to the Mideast Gulf now populating more liquid markets, leading to increased supply.
- Black Sea-Mediterranean Route: The Suezmax route from the Black Sea to the Mediterranean surged from WS200 ($24.08/ton) before the war to WS475 ($57.19/ton), but has plummeted nearly 50% in just two days to WS230 ($27.69/ton), indicating significant market volatility.
- Impact on U.S. Market: Suezmax rates from the U.S. Gulf Coast and Guyana have dropped to their lowest since the war began, reflecting a trend of tonnage shifting away from the Mideast Gulf, which further depresses rates.
- Aframax Rate Plunge: European Aframax rates have also seen a sharp decline, with the Ceyhan-origin cross Mediterranean route ending on April 20 at WS270, down significantly from WS655 on March 30, highlighting the market's weakness.
See More
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- Broad Gains in Shipping: The shipping and tanker industry saw broad gains on Monday following the U.S. naval blockade of Iranian ports, although results finished well off sharp early gains, indicating market sensitivity to geopolitical risks.
- Tanker Stock Performance: According to TradeWinds, tanker stocks gained an average of 2.8%, with clean product carriers performing slightly better than crude tankers, reflecting varying demand across different types of tankers in the current market.
- Top Gainers: Among the notable gainers, Navigator Holdings (NVGS) rose 3.7%, Torm (TRMD) increased by 3.5%, and Scorpio Tankers (STNG) climbed 2.6%, showcasing their relative strength in the current market environment.
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- Charter Contract Signed: NAT has secured a one-year time charter with a major customer at a rate of approximately $75,000 per day, while its operating costs are only $10,000 per day, significantly enhancing the company's profitability.
- Fleet Adjustment Strategy: In the current robust market environment, NAT has improved its financial flexibility and strengthened its overall position by selling some vessels built between 2003 and 2005 at favorable prices.
- Safety First Principle: NAT emphasizes that its top priority is the safety of its crew and states that the company remains apolitical, focusing on restoring normal business operations based on trust and integrity.
See More
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Stock Performance: On a recent Tuesday, shares of Ryde Group surged by 36%, while ViaV and Nordic American Tankers saw increases of 7% and a decrease of 4%, respectively, reflecting a positive sentiment in the digital asset and infrastructure sectors.
Cybersecurity and AI Developments: ViaV has gained momentum following announcements related to cybersecurity and AI infrastructure, including the integration of its Secure µPNT STL-1000 receiver into navigation systems, enhancing operational capabilities in challenging environments.
Freight Market Conditions: Nordic American Tankers has benefited from stronger tanker market conditions due to disruptions in shipping through the Strait of Hormuz, with expectations for improved performance in the upcoming quarters compared to previous periods.
See More
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- Toll System Implementation: The Iranian parliament passed a bill to impose fees on vessels transiting the strait, a move that, despite international legal disputes, would institutionalize Tehran's financial control over this critical waterway.
- Selective Passage: All 57 transits recorded since March 13 have taken the Larak detour, indicating strict vetting by the IRGC, which prioritizes vessels from countries with friendly relations, thereby increasing uncertainty in international shipping.
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