Nordic American Tankers Limited $(NAT)$ has released its financial results for the first quarter of 2025, showing a net result of $4.2 million. The average time charter equivalent (TCE) for the company's fleet was $24,714 per day per ship, with operating costs averaging $9,000 per unit. The company declared a dividend of $0.07 per share for the first quarter, marking its 111th consecutive quarterly cash dividend. This dividend is payable on June 26, 2025, to shareholders on record as of June 12, 2025. During the first five months of 2025, NAT acquired two vessels built in 2016 for a total of $132 million and sold two older vessels for $45 million. As of March 31, 2025, the company's cash position stood at $103 million. The company anticipates increased demand for its ships due to heightened pressure on sanctioned oil trades and increased OPEC volumes, which could benefit its operations.
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