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NAT pays $122m for suezmax pair

Nordic American Tankers (NAT) continues to build up its fleet of suezmaxes. Today it announced that it has agreed to acquire two Asia-built tankers at an average age of five years.

The total price is about $122m. The vessels are expected to be delivered in September and October. NAT does not plan to issue equity to finance these two vessels. The seller has not been revealed.

“The acquisition represents a natural step in the further development of Nordic American,” the company said in a release. “By adding two more ships, we increase the dividend capacity and earnings potential. We believe that our strong balance sheet, the dividend policy, well defined and transparent operating model provide NAT with a solid competitive position.”

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Published on:
July 27, 2015
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