Nordic American Tankers Ltd - Company Profile
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Nordic American Tankers Ltd (NAT) is an international tanker company focused on owning, operating, and chartering Suezmax tankers. The company's main activities involve the transportation of crude oil using its fleet of Suezmax vessels. NAT's fleet is homogenous and interchangeable, which is part of its business strategy known as the Nordic American System. The company primarily serves large international oil companies, oil traders, and independent oil companies. NAT operates its vessels mainly in the spot market, with some on shorter-term time charters. NAT's operations are primarily based in Bermuda, with its fleet serving global markets. Nordic American Tankers is headquartered in Hamilton, Bermuda.
Headquarters
Bermuda
Address
Swan Building, 26 Victoria Street, Hamilton, HM12
Website
www.nat.bm
Telephone
1 441 2927202
No of Employees
15
Industry
Energy and Utilities
Ticker Symbol & Exchange
NAT (NYSE)
Revenue (2024)
$349.7M
-10.7%
(2024 vs 2023)
EPS
XYZ
Net Income (2024)
XYZ
-52.7%
(2024 vs 2023)
Market Cap*
$1.3B
Net Profit Margin (2024)
XYZ
-47.1%
(2024 vs 2023)
* As of and is in US$
Nordic American Tankers Ltd premium industry data and analytics
Products and Services
| Services |
|---|
| Time Charter |
| Transportation of Crude Oil and Petroleum Products: |
| Spot Charter |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2025 | Asset Disposal | In December, the company announced the sale of two suezmax tankers (2004 and 2005-built) at a net price of US$50 million for both vessels. |
| 2025 | Contracts/Agreements | In November, the company signed a letter of intent to have two new buildings constructed at a South Korean shipyard, with delivery being expected in FY2028. |
| 2025 | Asset Disposal | In May, the company signed an agreement to sell the Nordic Castor for a net price of US$22.5 million. |
Competitor Comparison
| Key Parameters | Nordic American Tankers Ltd | Teekay Corp Ltd | CMB.Tech NV | Tsakos Energy Navigation Ltd | Overseas Shipholding Group Inc |
|---|---|---|---|---|---|
| Headquarters | Bermuda | Bermuda | Belgium | Greece | United States of America |
| City | Hamilton | Hamilton | Antwerpen | Athina | Tampa |
| State/Province | - | - | - | - | Florida |
| No. of Employees | 15 | 2,000 | 2,500 | - | 1,286 |
| Entity Type | Public | Public | Public | Public | Private |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Herbjorn Hansson | Chairman; Chief Executive Officer; President | Executive Board | 1995 | 77 |
| Bjorn Giaever | Secretary; Chief Financial Officer | Senior Management | 2017 | 58 |
| Erik Tomstad | Executive Vice President - Chartering | Senior Management | - | - |
| Jim Kelly | Director | Non Executive Board | 2010 | 71 |
| Alexander Hansson | Director | Non Executive Board | 2019 | 43 |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2026 | XY |
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