So, Nordic American is looking at a unique opportunity going forward. Nordic, however, with its fleet of mid-sized tankers, is well-positioned to capitalize on continued demand for oil along the world’s secondary petroleum trade routes – and to offer a more efficient option for Middle East traders who might have difficulty filling a 300,000 ton Very Large Crude Carrier to full capacity. The cuts are intended to boost prices for the OPEC cartel – but will also reduce volumes on the world’s trade routes, cutting into tanker companies’ revenues. ![]() The global tanker business took a hit earlier this month, when Saudi Arabia announced oil production cuts up to 1 million barrels per day. These ships, all weighing in between 150,000 and 160,000 tons, are workhorses of the global tanker fleet, using the Suez route to shorten travel times between the Middle East and Asia to Europe and the North Atlantic. Nordic operates a fleet of 19 Suezmax-sized tankers, the largest vessels that can safely transit the Suez canal. Let’s take a closer look.įirst up on the list is Nordic American Tanker, a Bermuda-based operator in the shipping industry that specializes in transporting crude oil and other petroleum products. And all that for a cost of entry below $10. Both of these stocks have received Buy ratings and have positive analyst reviews on record. Keeping these strategies in mind, we’ve used the TipRanks database to identify two stocks that offer dividends of at least 11% yield – that’s more than 6x higher than the average yield found in the markets today.
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