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Nordic American Tankers upbeat on Q4 performance

Nordic American Tankers upbeat on Q4 performance
Nordic American Tankers (NAT) has issued an upbeat update on its fourth quarter performance.

“As previously communicated, the fourth quarter of 2016 is turning out well,” said Herbjørn Hansson, chairman & ceo of NAT in a letter to shareholders.

He said the company had a cash breakeven point of below $11,000 per day per vessel while in Q4 cash results were expected to be $20,000 per day per vessel.

Looking at vessels on short-term contracts Hansson said: “So far, the first quarter of 2017 has started off well with a strong tanker market.”  

The company’s fleet of suezmaxes will grow to 30 in February next year with the delivery of its latest vessel, which already has employment.

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