Nordic American Tanker gains after Q2 results

Nordic American Tankers

28/08/2023 15:28

** Shares of commercial vessels operator Nordic American
Tanker  NAT.N  gain 2.8% to $4.21 
    ** NAT reports Q2 earnings of 13 cents/shr compared with a
year-ago loss of 2 cents/shr  
    ** Co posts net rev. from voyages at $67.8 mln compared with
a year-ago net rev of $34.8 mln 
    ** "There is a scarcity of our type of ships, leading to
better results and higher demand" - co 
    ** Co says 57% of spot voyage days for Q3 are booked at
average time charter equivalent (TCE), a metric denoting average
daily revenue of a vessel, of $34,000 per day, per ship 
    ** NAT up 34% YTD

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))