Nordic American Tankers Ltd has told the market it is seeing “extraordinary” conditions for its vessels and that recent spot fixtures have generated material cash for the company. The statement, reported on 15 September 2026, included a snapshot of recent spot fixtures and a comment on operating costs.
In its communication the company said the numbers for recent fixtures were approximate. Nordic American Tankers Ltd also disclosed that its operating costs per ship are less than $10,000 per day.
The company described the difference between the reported spot rates and those operating costs as cash accumulation in the business. The published summary said the firm is “currently experiencing a market for our vessels that is extraordinary.”
Snapshot of fixtures
Nordic American Tankers provided a brief snapshot of recent spot fixtures but did not attach precise voyage-by-voyage data in the summary released to the press. The item noted the figures are approximate and presented them as examples of prevailing market levels rather than definitive accounting entries.
The source material placed the emphasis on market strength rather than on a full set of audited results. Readers were warned by the company that the contention of extraordinary conditions is based on recent spot activity and should be treated as indicative.
Costs and reported cash accumulation
The only operating-cost figure disclosed was that per-ship daily running costs are under $10,000. That figure was presented alongside the assertion that the gap between spot earnings and operating costs is creating cash accumulation for the company.
Nordic American Tankers framed the operating-cost disclosure as a context for interpreting the headline snapshots of spot fixtures. The company’s summary therefore linked the approximate fixtures, the stated cost base and the resulting cash position in a single explanatory line.
The item was carried by reports and dated 15 September 2026, and it is the source of the figures and descriptions in this report. The published summary does not contain further financial detail, nor does it include audited figures or a complete earnings statement.
Investors and observers will need full financial disclosures to quantify the company’s cash accumulation precisely. The company’s summary, as presented, offers a high-level view of recent market conditions and an indication of the effect those conditions have had on reported short-term cash generation.
Nordic American Tankers has chosen to highlight spot-market strength at a time when the company’s commentary, as reported, focuses on short-term fixtures and an explicit operating-cost benchmark. The statement is succinct and limited to the items summarised above, with an emphasis on approximation and the company’s characterisation of current conditions as extraordinary.