Nordic American Tankers Reports Q2 Dividend and Market Outlook

Nordic American Tanker (NAT) has released an update.

Nordic American Tankers Limited (NAT), an international tanker company with a homogeneous fleet of 20 Suezmax tankers, reported lower tanker market rates for the first half of 2024 compared to the previous year, attributing the decline to factors such as increased transport distances due to geopolitical tensions and OPEC cuts. Despite the lower rates, NAT declared a dividend for Q2 2024 and noted an encouraging Suezmax orderbook which may positively impact market balance. The company’s recent addition of the vessel Nordic Hawk in December 2023 and the employment of two new vessels on long-term charters underpin its operational developments.

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