NAT - Nordic American Tankers GAAP EPS of $0.17 misses by $0.04 revenue of $71.1M misses by $12.38M

• Nordic American Tankers press release ( NYSE: NAT ): Q4 GAAP EPS of $0.17 misses by $0.04 .
• Revenue of $71.1M (+214.2% Y/Y) misses by $12.38M .
• The average Time Charter Equivalent for our spot vessels (15) during the fourth quarter of 2022 came in at $57,340 per day per ship. Including vessels on term contracts (4), the total average NAT TCE was $49,035 per day per ship. This was 76% up from the third quarter of 2022. Our operating costs are about $8,000 per day per vessel.
• Strong rates have continued into first quarter this year. So far, 72% of our spot voyage days have been booked at an average TCE of $60,630 per day per ship. With the 1Q 2023 bookings, we expect the first quarter 2023 net results to further improve vis-à-vis the strong 4Q 2022.
• "As of December 31, 2022 our fleet consisted of 19 well maintained Suezmax tankers with a cargo lifting capacity of 1 million barrels of oil each. We only have Suezmaxes in our fleet."

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