Nordic American Tankers books million-dollar profit on tanker recovery

Nordic American Tankers turned a double-digit million-dollar deficit into a double-digit million-dollar profit. The shipping line still believes in a strong 2020 for tanker, even though rates have gone down in recent weeks, due to factors like the Coronavirus.

Photo: Nordic American Tankers / PR

The recovery in the tanker market improved Nordic American Tankers' bottom line by USD 23.2 million in the fourth quarter last year.

The tanker shipping company, based in Bermuda and listed in New York, reports a net profit of USD 12.7 million for the last three months of 2019. In the same period last year, the company suffered a deficit of USD 10.5 million.

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