The war in Russia and historic low orderbook levels are set to fuel earnings at suezmax tanker specialist Nordic American Tankers as it announced a sharp rise in quarterly profits.
NAT chief executive Herbjorn Hansson reported net profit of $36m in the fourth quarter of 2022 following a $72.9m loss from the year before.
The New York-listed owner of 19 suezmax oil tankers said current orders represented only 2% of the existing fleet, a 30-year-low, which would continue for several years.
