'We are making a lot of money at this time, improving our balance sheet tremendously, and I have never seen such a strong market,' Nordic American Tankers CEO Herbjørn Hansson said.
And business, according to the founder and head of"We are making a lot of money at this time, improving our balance sheet tremendously, and I have never seen such a strong market," Herbjørn Hansson, CEO of the Bermuda-based tanker company, told CNBC's Jim Cramer in a "Nordic was the third-largest player in the market at the end of 2019.
futures for the first time fell into negative territory Monday when the May contract traded in the red as low as $37 per barrel.storage is very limitedGiven the state of the market, Nordic can charge nearly $70,000 per day for ship usage, Hansson said, who counts big oil companies such as Exxon, Mobil and British Petroleum among its customers.
"We don't speculate in oil. We speculate in carrying oil and that's a different story. And my point is that I prioritize dividends," he said. "We have a strong market, and this is the strongest market I've seen in my lifetime and I've been around for quite a while."
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