Apr. 9 at 8:18 PM
$NAT First Quarter Financial Report should be huge. NAT currently expects the first quarter to be much better than the fourth quarter of 2025, citing fixtures generating time-charter equivalent rates between
$41,000 and
$175,000 per day, compared with operating costs of about
$9,000 per day. Now that is what you call HUGE margins.
In February, NAT said nearly two-thirds of first-quarter spot days were booked at around
$55,000 per day, in addition to a one-year fixed contract with an oil major at more than
$50,000 per day.
NAT also disclosed last month an agreement to sell a 2005-built vessel for about
$40 million and said prospects for its fleet remain strong, noting expectations that fleet size could increase in the coming years.
After shipping disruptions in the Middle East increased in late February, the benchmark rate for transporting crude from the Gulf to China on very large crude carriers like NAT's more than doubled between Feb. 27 and March 10
1Q Earnings are expected by May 15
