NAO Enters into Preliminary Option Agreement for 7th PSV

Nordic American Tankers (NAT) announced yesterday that the planed purchase of PSV vessels for the newly established offshore supply vessel company, Nordic American Offshore Ltd. (NAO) under the management of NAT, has been expanded to seven PSV vessels, including an option for delivery of the 7th vessel during the spring of 2015.

The price for the delivered 6 vessels is about NOK 270 million each – about USD 45 million per unit. The price for the 7th vessel, if the option is exercised, is the same as for the delivered six vessels. An objective is further expansion for NAO that will be the owner of the vessels.

NAT, November 3, 2013; Image: Ulstein