Nordic American Tankers to Acquire Two Suezmax Tankers

Tuesday / July 28, 2015

Front_Warrior_300Nordic American Tankers Limited (NAT) is set to acquire two Far East built Suezmax tankers at an average age of five years.

The total price value of the contract is about USD 122 million. . The vessels are expected to be delivered in September and October 2015.  NAT does not plan to issue equity to finance these two vessels.

The plan will lead to an increase in the dividend capacity and earnings potential of Nordic American Tanker. A strong balance sheet, the dividend policy and a well defined and transparent operating model provide NAT with a solid competitive position.

The addition of the two Suezmax tankers has expanded its fleet to 26 vessels.

Nordic American Tankers is a tanker company which was founded in 1995 by Herbjørn Hansson, chairman and CEO.

Nordic American Tankers Limited was incorporated in Bermuda in 1995. In September 1995 NAT sold securities to the public in the US and in Europe. The shares are today trading at the New York Stock Exchange.

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