2015 a record year for Nordic American Tankers

Nordic American Tankers' crude oil vessels generated so much money in 2015 that last year become the Norwegian carrier's best ever in terms of cash flow. The company casts doubts on a significant orderbook in 2016.

Photo: SHELL

The 24 Suezmaxes in Nordic American Tankers fleet performed so well in 2015 that the year generated the biggest cash flow ever for the Norwegian carrier in its almost 20-year history, according to the annual report for 2015, published Monday.

Spot rates increased from around USD 35,000 in the third quarter 2015 to USD 39,800 in the final quarter of the year. With operating costs setting the break-even point below USD 12,000 per day, the cash flow in the fourth quarter came to USD 57.2 million and USD 212 million for the full year.

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