GlobeNewswire·Nov 28, 2025, 5:13 AM ET

Nordic American Tankers Ltd (NYSE: NAT) – Report as per September 30, 2025 – Increased dividend and solid prospects

Nordic American Tankers (NAT) reports an upswing in direction with safety and dividends as primary priorities.
The invalidation of the grey/black fleet reduces available market supply, improving NAT's position.
NAT ships have not transported Russian oil for over four years, with major oil companies as main customers.
The third-quarter dividend is $0.13 per share, marking the 113th consecutive quarterly payment.
Dividends are payable December 22, 2025, to shareholders of record as of December 8, 2025.
Strong oil demand sustained rates in the third quarter despite a slow period, with a strong start to the fourth quarter.
NAT has a preliminary agreement to build two new Suezmax tankers with a South Korean yard for delivery in late 2028.
A firm contract for the new vessels is expected to be signed in early 2026.
The current NAT fleet consists of 20 well-maintained Suezmax tankers.
Third-quarter 2025 average time charter equivalent (TCE) was $27,490 per day per ship against operating costs of $9,000 per day per ship.
Adjusted EBITDA for 3Q 2025 was $21.4 million, while a net book loss of $2.8 million was recorded.
The company maintains a cash position above $70 million as of the report date.
High vessel quality is evidenced by favorable vetting performance scores from major oil companies.
NAT reduces emissions through careful voyage planning & speed adjustments.