Business Context and Reporting Period
This Form 6-K filing by Nordic American Tankers Ltd covers the month of August 2013. The registrant is a foreign private issuer incorporated in Bermuda, operating in the tanker shipping sector. The filing primarily serves to disclose a corporate action regarding shareholder distributions.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or debt metrics for the period. The only specific financial data disclosed is:
- Dividend Declaration: $0.16 per share for the 2nd quarter of 2013.
- Dividend History: This marks the 64th consecutive quarter of dividend payments.
- Record Date: July 31, 2013.
- Payment Date: Expected on or about August 13, 2013.
Revenue, margins, liquidity, and debt levels are not reported in this document.
Material Changes
There are no material changes to financial performance or operations reported in this filing. The dividend amount of $0.16 remains unchanged from the 1st quarter of 2013.
Guidance, Outlook, and Risks
The filing includes a standard cautionary statement regarding forward-looking statements. Management highlights several factors that could cause actual results to differ from expectations:
- Strength of world economies and currencies.
- Fluctuations in charter rates and vessel values.
- Changes in global oil consumption, storage, and OPEC production levels.
- Operating expense volatility, specifically bunker prices, drydocking, and insurance costs.
- Regulatory changes, political conditions, and potential disruptions to shipping routes.
- Vessel breakdowns and off-hire instances.
No specific quantitative guidance or outlook for future earnings is provided in this text.
Investor Verification Checklist
- Verify the dividend payment date (expected August 13, 2013) and record date (July 31, 2013).
- Confirm the consistency of the $0.16 dividend with the previous quarter's declaration.
- Review the company's most recent Form 20-F or quarterly reports for detailed revenue, cash flow, and debt metrics, as they are absent here.
- Monitor market conditions affecting charter rates and bunker fuel prices as key risk factors.