Nordic American Tankers posts Q2 2026 profit on vessel sales and insurance payouts

Nordic American Tankers posted a net profit of $68.3 million for the second quarter of 2026, rising from $46.3 million in the previous quarter and reversing a net loss of $0.9 million recorded during the same period in 2025.

The result included a $21.3 million gain on vessel sales alongside $14.6 million in loss of hire insurance recoveries for three ships that had been unable to transit the Strait of Hormuz.

Adjusted earnings before interest, tax, depreciation and amortisation reached $67.6 million, up from $54 million in the opening quarter.

Average time charter equivalent rates climbed to $63,000 per day per ship during the three-month period, while approximately 75 per cent of the fleet has been booked for the third quarter at around $54,000 daily.