User:Fredrikrzx/Nordic American Tankers

Nordic American Tankers (NAT) is a Norwegian based tanker company with 19 medium-sized tankers of the type suezmax. The shipping company was founded in 1995 by Herbjørn Hansson, which is board director and CEO. The company's main office is located in Sandefjord.

NAT was first listed on the Oslo Stock Exchange, but has since left. It is now listed on the New York Exchange. The company has over 70000 shareholders. The company has low costs, minimal debt and a predictable mode of operation, wich is something that has given the company the possibility to pay shareholders a divident of 1 billion USD since the company was founded.

History:

“Nordic American Tankers used the proceeds from the first issue to buy three new suezmax ships built at Samsung Heavy Industries Co. Ltd. The three ships Nordic Hawk, Nordic Hunter and Nordic Harrier were all delivered during the fall of 1997 and started a seven-year bareboat lease agreement with British Petroleum immediately after delivery. NAT’s articles of association prevented the company from acquiring more ships or conducting other business under the lease agreement with BP. As the BP lease agreement approached expiration, an extraordinary general meeting was convened in March 2004 to decide whether NAT should continue as an active operating company in October 2004. An overwhelming majority of shareholders voted to continue, and in October 2004 the lease agreement with BP expired, the restrictive articles of association were effectively changed and NAT became an active operating company. In November 2013, NAT established and sponsored the OSV company Nordic American Offshore Ltd. (NAO). The company had a listing on the New York Stock Exchange in June 2014. NAT later sold out of this investment, and DNB and SEB took over operations. In September 2020, NAT announced that they had ordered two new tankers to be delivered in the first half of 2022. Late in 2021, one ship was sold and during 2022 NAT sold another five ships.”