Nordic American Tankers Ltd (NYSE: NAT) – NAT is in an expansionary mode based on concrete projects

A few years ago, NAT winnowed its fleet from 33 vessels to 23 vessels. Last year the company ordered two newbuildings from South Korea. These two ships will be delivered to NAT in 2022. As described below the path forward is expansion. We have concrete projects to sell at least two ships built in 2000 and 2002. These sales are a part of a process to increase the fleet by purchasing at least two or more additional ships of a more recent vintage than the ones that will be sold. These strategic moves will strengthen NAT substantially.

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New BIMCO/ICS Seafarer Workforce Report warns of serious potential officer shortage

Launched today, the new Seafarer Workforce Report from BIMCO and the International Chamber of Shipping warns that the industry must significantly increase training and recruitment levels if it is to avoid a serious shortage in the total supply of officers by 2026.  Given the growing demand for STCW certified officers, the Report predicts that there will be a need for an additional 89,510 officers by 2026 to operate the world merchant fleet. The report estimates that 1.89 million seafarers currently serve the world merchant fleet, operating over 74,000 vessels around the globe.

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Welcome to the IBJ e-Newsletter

The IBJ e-newsletter is aimed specifically at the dry bulk cargo handling and shipping industry. It delivers regularly updated news on the bulk industry worldwide.

The newsletter includes the latest developments in bulk ports and logistics, shipping, equipment and commodities and is a must read source of news for busy executives in this important global sector.

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