ShippingWatch

Nordic American Tankers doubts Suezmax deliveries

Nordic American Tankers finished the first quarter of 2016 in solid form with a profit of USD 29.3 million. Many new Suezmax vessels are set for delivery in the second half of the year, but the carrier doubts whether these ships will actually be delivered.

Several factors are at play for Norwegian tanker carrier Nordic American Tankers, which has just delivered a stable result for the year's first quarter. A low break-even for the carrier's tanker vessels at less than USD 12,000 per day per vessel. A growing fleet. And not least, spot rates to the tune of USD 36,000 per day.

Each of these elements contributed to Nordic American Tankers' first quarterly net result of USD 29.3 million compared with USD 27.7 million in the same period the year before, according to the interim report on Monday. The carrier's vessels brought in a total of USD 76.6 million in the first three months, against USD 69.5 in the first quarter of 2015.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Shipping in a safe position despite shaky world economy

Container carriers are facing a couple of difficult years, but otherwise the shipping industry looks set to do well despite dark clouds over the world economy, according to shipping analyst. ”Right now, most companies are making a lot of money.”

Further reading

Related articles

Latest news

See all jobs