GlobeNewswire·Aug 27, 2026, 5:50 AM ET

Nordic American Tankers Ltd (NYSE: NAT) – Report as per June 30, 2026 – The direction of NAT is unquestionably upwards – rates & values are up

NAT

Three NAT ships successfully navigated the Hormuz strait after being stuck since February 28, 2026, due to hostilities between Iran & the US.
Two of the released ships are now trading internationally while one 2003-built vessel was sold for USD 26 million.
Spot market rates for vessels range from USD 60,000 to USD 90,000 per day with operating costs below USD 10,000 per day.
Cash reserves have accumulated to USD 175 million as major oil companies remain the primary customers.
A ship attacked in the Black Sea a month prior is now out of danger with crew safety prioritized.
Financial partners are limited to Dallas-based Beal Bank & Ocean Yield to ensure banks do not influence business operations.
Q2 2026 dividend is set at 27 cents per share, marking the 116th consecutive quarterly dividend since listing in 1996.
Dividend payment date is September 24, 2026, for shareholders of record as of September 10, 2026.
Time Charter Equivalent (TCE) for Q2 reached $63,000 per ship per day, up from $47,600 in the previous quarter.
Third-quarter bookings show approximately 75% of the fleet secured at about $54,000 per day.
Net result for Q2 2026 was $68.3 million compared to $46.3 million in the prior quarter.
The fleet consists of 17 vessels as of June 30, 2026, with two additional ships on order.
Major oil companies lease about 50% of the fleet based on high vetting performance scores.
Emissions are reduced through careful voyage planning while geopolitical uncertainty is expected to persist.
2026 is projected to be the best year for NAT since its stock exchange listing in 1995.