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royalgazette.comSEP 172 min read$NAT

Island’s oil tanker operators racking up huge profits

Bermuda-based oil tanker operators like Nordic American Tankers (NAT) and DHT Holdings report significant profit increases due to heightened demand from the US-Iran war. NAT's CEO cited elevated spot rates, with some voyages charging up to $200,000 per day. DHT secured a three-year charter at $100,000 per day, a 33% increase from July. NAT's share price has risen over 130% year-to-date, while DHT's is up nearly 90%.

Original reporting
royalgazette.com
Published Sep 17, 2026, 1:30 PM UTC
Analysis
AlphAI AI DeskAI-generated
Added to AlphAI Sep 17, 2026, 2:26 PM UTC. Informational, not investment advice.
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Island’s oil tanker operators racking up huge profits — source image
Source · royalgazette.com
Decision brief

The 30-second read

$NATBullishMed
01

Why it matters

Higher spot and charter rates translate into strong earnings growth for listed tanker operators.

02

Market read

War‑driven freight rate spikes provide a fresh catalyst for tanker stocks, offering short‑term upside.

03

What to watch

Potential regulatory or insurance cost increases for high‑risk routes may compress margins despite higher rates.

Relevance 6/10Novelty 6/10Timing: this week

Background

The US‑Iran war has disrupted the Strait of Hormuz, forcing longer routes and inflating tanker demand.

Company-level read

Ticker impact

$NATBullishHigh confidence
Context

Nordic American Tankers disclosed elevated spot rates ($200k/day) and a 130% YTD share price rise due to war‑driven demand.

Expected impact

Further upside as spot‑rate contracts continue.

Evidence & confidence

Spot‑rate examples and share‑price surge indicate strong near‑term demand.

$DHTBullishHigh confidence
Context

DHT Holdings announced a new three‑year VLCC charter at $100,000 a day, a 33% increase over July, boosting its share price ~90% YTD.

Expected impact

Likely continued price appreciation if rates stay elevated.

Evidence & confidence

The disclosed charter is a fresh, material contract for a small‑cap tanker operator.

Market effects

Sector

Oil‑tanker sector benefits from war‑driven freight rate spikes, lifting all major operators.

Regional

Higher freight rates boost earnings for Bermuda‑registered tankers and may affect related shipping indices.

Global

Elevated tanker rates influence global oil logistics costs and could pressure oil price spreads.

Counterpoint

What could challenge this read

If the conflict de‑escalates, spot rates could fall sharply, hurting recent gains.

Key entities

  • company
    Nordic American Tankers

    Bermuda‑registered tanker operator listed on NASDAQ (NAT).

  • company
    DHT Holdings

    Bermuda‑registered VLCC operator listed on NASDAQ (DHT).

  • company
    Teekay Tankers

    Bermuda‑registered tanker operator listed on NYSE (TEE).

Read at source← All news

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