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NAT.N

ISIN: BMG657731060
SEDOL: 2113876

Rating:

HOLD

Target Price:

26.55 USD

Investment Horizon:

6 to 12 months
5th May 2009 View Report   Download

1Q 09 News Alert

Nordic American Tanker Shipping’s (NAT) 1Q 09 Net Voyage (NV) revenues were above our estimate given higher-than-expected spot freight rates recorded during the quarter. The company has announced that it plans to acquire another Suezmax vessel, which is expected to be delivered in early 3Q 09, and we expect to revise our estimates and target price upwards in our next update report to take this development into account....

20th Apr 2009 View Report   Download

4Q 08 and FY 2008 Update Report

On 10 April 2009, the International Energy Agency (IEA) cut its projections for global crude oil demand by 1.0 mn barrels per day (b/d) following a reassessment of global GDP assumptions and the significantly lower-than-anticipated 1Q 09 demand data. Global oil demand is now forecast to be 83.4 mn b/d in 2009, lower than in 2008 by 2.4 mn b/d. The IEA also expects demand for oil to remain weak in 2010 (Source: International Energy Agency). If the forecast contraction…

3rd Mar 2009 View Report   Download

Company News Alert

Nordic American Tanker Shipping Ltd.’s (NAT) NYSE common stock has depreciated significantly since our 3Q 08 update report, reflecting general weakness in equity markets and a decline in oil prices and the Bloomberg Tanker index over the same period. Although we will likely revise our estimates and target price downwards in our next update report to account for slowing oil demand, given current price levels and sustained dividends, we maintain our BUY rating for the…

13th Feb 2009 View Report   Download

4Q 08 News Alert

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Nordic American Tanker Shipping’s (NAT) 4Q 08 and FY 2008 Net Voyage Revenues (NVR) fell below our estimates given lower than expected spot freight rates recorded during the quarter. Although we will likely revise our estimates and target price downwards in our next update report to account for slowing oil demand, given the current price levels and sustained dividends, we maintain our BUY rating for the NYSE…

9th Feb 2009 View Report   Download

3Q 08 Update Report

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Going forward, spot freight rates for oil tankers are expected to continue to suffer from slowing hydrocarbon demand given challenging economic conditions. On 13 November 2008, the International Energy Agency (IEA) cut its projections for global crude oil demand by 330,000 and 670,000 barrels a day for FY 2008 and FY…