Nordic American Tankers CEO expects Q4 results "well above" Q3
Nordic American Tankers CEO Herbjorn Hansson issued a letter to shareholders stating, among other things, that the company "expect that the Q4 result will be well above Q3, which had a time charter of USD 16,700 per day per ship on average for our vessels on contracts and on short term employment." (...) "During 3Q2016 we generated a cash surplus that was much higher than our cash break even rate, which is below USD 11,000 per day per ship" (...) "Now that we have about 75 % of the available days in 4Q2016 under our belt, we are at about USD 20,000 per day" (...) "The board, management and our advisors subscribed for a total of $5.3 million of the issue" (...) "Our recent order for 3 new Suezmax ships at Samsung was concluded at highly attractive terms. A major part of the purchase price is due on delivery" (...) We have already increased our fleet by 5 ships this year and will take delivery of our 30th ship in early 2017 (...) "Having access to financing, as we do, is increasingly becoming a competitive advantage" (...)2 Our large base of shareholders has made our stock very easy to trade" (...) "The demand for oil and its production is growing, which is positive for the transportation of oil. The demand in the Far East is particularly strong, which makes it a promising market for us (...) "Finally, we do not expect that results of the US Presidential election will affect NAT adversely"