Nordic American Tankers Ltd. informed today that the company has used its contractual right to cancel the contract for acquisition of a suezmax tanker, announced on March 20, 2013.
According to the initial contract, the tanker was to be delivered no later than mid-May 2013. On request of the seller of the vessel, NAT agreed to extend the delivery date until June 15, at the latest. Towards the end of May, NAT was advised by the sellers that the vessel probably would not be ready for delivery June 15.
Thereafter, NAT decided to withdraw the acquisition contract. This cancellation will not impact the expansion plans presently under consideration by NAT.
[mappress] World Maritime News Staff, June 10, 2013