Summary
The market for Suezmax tankers strengthened during the second quarter of 2000, particularly in May and June. NAT’s three suezmax tankers which are on contract to BP Shipping, take immediate advantage of the improved market conditions.
Average T/C rate for the NAT vessels was $33,701 pr day in the second quarter of 2000 against $26,079 per day in the first quarter of 2000. The market has improved further at the beginning of the third quarter of 2000.
The strong market gives a solid base for the highest quarterly dividend NAT has paid since the beginning in October 1997.
Dividend 1.Q. 2000 : $0.34
Dividend 2.Q. 2000 : $0.45
Dividend 3.Q. 2000 : $0.67
The dividend of $0.67 will be paid on or about August 14 to shareholders of record as of July 27, 2000.
NAT has 9.706.606 shares in issue.
The full press release including tables can be downloaded from the following link: