Nordic American Tanker Shipping reported earnings on Friday that showed the firm rebounded from losses a year-ago, helped by its expanded fleet as it saw spot-market rates improve year-over-year. Herbjorn Hansson, CEO of Nordic American, shared insights on his company and analysis of the greater economy.
“This company is in an excellent position,” Hansson told CNBC.
“Second quarter was a great quarter…I don’t expect the third quarter to be the best, but we are in a good position compared with the rest.”
Meanwhile, Hansson said he expects to see a slower third quarter in the overall economy and wouldn’t necessarily be surprised to see a double-dip in the US.
“This is depending upon the world economy and we still see strong signals in the Far East—China’s doing fine,” he explained.
However, he remains optimistic for the bigger picture:
“You have challenges in this country, but as far as we’re concerned, while we might see a little down now in the next few weeks, we are in an excellent position for growth.”
Scorecard—What He Said:
- Hansson's Previous Appearance on CNBC (Feb. 12, 2010)
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Market Views—Across the Board:
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Nordic American Tanker Competes With:
Frontline
Overseas Shipholding
Teekay
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Disclosures:
No immediate information was available for Hansson or his firm.
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