| 20-F | 2019-12-31 | Filed 2020-04-16 |
| 20-F | 2018-12-31 | Filed 2019-04-16 |
| 20-F | 2017-12-31 | Filed 2018-05-15 |
| 20-F | 2016-12-31 | Filed 2017-05-01 |
| 20-F | 2015-12-31 | Filed 2016-03-23 |
| 20-F | 2013-12-31 | Filed 2014-04-04 |
| 20-F | 2012-12-31 | Filed 2013-03-19 |
| 20-F | 2011-12-31 | Filed 2012-04-17 |
| 20-F | 2010-12-31 | Filed 2011-04-21 |
| 20-F | 2009-12-31 | Filed 2010-05-24 |
Nordic American Tankers Limited was founded on June 12, 1995 under the name Nordic American Tanker Shipping Limited and organized under the laws of the Islands of Bermuda. We maintain our principal offices at LOM Building, 27 Reid Street, Hamilton HM 11, Bermuda. Our telephone number at such address is (441) 292-7202.
We are an international tanker company originally formed for the purpose of acquiring and chartering three double-hull Suezmax tankers that were built in 1997. Our fleet currently consists of 23 vessels. During 2018 we sold ten pre-2000 built vessels and took delivery of three newbuildings. We expect that our fleet will expand over time despite the ten vessels we sold during 2018. The vessels in our fleet are homogenous and interchangeable, which is a business strategy we refer to as the "Nordic American System". Our common shares trade under the symbol "NAT" on the New York Stock Exchange, or the NYSE.
In January 2013, we acquired Scandic American Shipping Ltd, or Scandic, and NAT Chartering (formerly Orion Tankers Ltd), or NATC, as wholly-owned subsidiaries. Accordingly, the financial statements contained herein are presented on a consolidated basis for us and our subsidiaries, which we refer to as the Company or the Group.
| Comps ($MM TTM) | Market Cap | Gross Margin | EV/EBITDA | Ret on Assets | Assets | Liabilities | Revenue | G Profit | Net Income | EBITDA | EV |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Costamare (CMRE) | 505 | 0% | 3,051 | 1,694 | 0 | 0 | 0 | 0 | 1,655 | ||
| Teekay Offshore Partners (TOO) | 505 | 0% | 5,312 | 3,853 | 0 | 0 | 0 | 0 | 3,413 | ||
| Scorpio Bulkers (SALT) | 399 | 0% | -3.4 | -19% | 1,704 | 843 | 100 | 0 | -324 | -324 | 1,098 |
| Genco Shipping & Trading (GNK) | 391 | 0% | 18.4 | -2% | 1,562 | 564 | 393 | 0 | -39 | 40 | 743 |
| Eagle Bulk Shipping (EGLE) | 357 | 0% | 15.1 | -0% | 970 | 479 | 308 | 0 | -4 | 47 | 706 |
| Teekay (TK) | 337 | 0% | 8,392 | 5,525 | 0 | 0 | 0 | 0 | 3,195 | ||
| Diana Shipping (DSX) | 330 | 0% | 1,188 | 560 | 0 | 0 | 0 | 0 | 713 | ||
| SEACOR Marine Holdings (SMHI) | 319 | 27% | -21.4 | -10% | 1,041 | 546 | 227 | 60 | -101 | -33 | 708 |
| Nordic American Tankers (NAT) | 288 | 0% | 1,071 | 469 | 0 | 0 | 0 | 0 | 675 | ||
| MCBC Holdings (MCFT) | 275 | 24% | 8.3 | 8% | 257 | 176 | 483 | 115 | 22 | 46 | 383 |
| Teekay Tankers (TNK) | 252 | 0% | 2,161 | 1,214 | 0 | 0 | 0 | 0 | 934 | ||
| Tsakos Energy Navigation (TNP) | 230 | 0% | 3,205 | 1,710 | 0 | 0 | 0 | 0 | 1,617 | ||
| Safe Bulkers (SB) | 181 | 0% | 1,076 | 593 | 0 | 0 | 0 | 0 | 698 | ||
| Ardmore Shipping (ASC) | 161 | 0% | 845 | 498 | 0 | 0 | 0 | 0 | 336 | ||
| Overseas Shipholding Group (OSG) | 157 | 0% | 7.9 | -1% | 1,137 | 807 | 346 | 0 | -7 | 61 | 483 |
| Danaos (DAC) | 149 | 0% | 2,680 | 1,989 | 0 | 0 | 0 | 0 | 1,694 | ||
| Pangaea Logistics Solutions (PANL) | 144 | 0% | 5.5 | 4% | 485 | 309 | 282 | 0 | 20 | 40 | 221 |
| StealthGas (GASS) | 113 | 0% | 1,037 | 475 | 0 | 0 | 0 | 0 | 479 | ||
| Navios Maritime Containers (NMCI) | 100 | 0% | 414 | 231 | 0 | 0 | 0 | 0 | 265 | ||
| Scorpio Tankers (STNG) | 95 | 0% | 4,784 | 2,945 | 0 | 0 | 0 | 0 | 83 |
| Balance Sheet ($MM) | 2011-12-31 | 2012-12-31 | 2013-12-31 | 2014-12-31 | 2015-12-31 | 2016-12-31 | 2017-12-31 | 2018-12-31 |
| Cash | 24 | 56 | 66 | 101 | 30 | 82 | 58 | 49 |
| Accounts Receivable | 29 | 18 | 22 | 22 | ||||
| Inventory | 8 | 4 | 24 | 22 | 15 | 21 | 23 | |
| PP&E | 1 | 1 | 0 | 0 | 0 | 0 | ||
| Assets | 1,125 | 1,086 | 1,136 | 1,169 | 1,245 | 1,350 | 1,141 | 1,071 |
| Accounts Payable | 4 | 3 | 6 | 7 | 4 | 4 | 3 | 4 |
| Long-Term Debt | 230 | 250 | 250 | 250 | 330 | 443 | 389 | 437 |
| Liabilities | 258 | 276 | 281 | 287 | 364 | 479 | 430 | 469 |
| Stockholders' Equity | 868 | 809 | 855 | 882 | 881 | 871 | 711 | 602 |
| Income Statement ($MM) | 2011-12-31 | 2012-12-31 | 2013-12-31 | 2014-12-31 | 2015-12-31 | 2016-12-31 | 2017-12-31 | 2018-12-31 |
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