Nordic American Tankers grows its profit in the second quarter

Like several of its competitors, Nordic American Tankers increased its profit in the second quarter. 2020 and 2021 are also expected to be strong, though the shipping company expects regional rate fluctuations in the short term.

Photo: Nordic American Tankers / PR

Nordic American Tankers, as was the case for other major tanker players, experienced significant growth on the bottom line in the second quarter.

Here the Bermuda-based tanker operator with a fleet of 23 suezmax vessels reports a net profit of USD 49.2 million. A significant improvement from a deficit of almost USD 15 million at the same time last year and around USD 10 million better than in the first quarter, shows the company's interim report.

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