NAT to Acquire Two Suezmax Vessels

Nordic American Tankers Limited (NAT) has agreed to acquire two Suezmax vessels, delivered from a top shipyard in 2005. The agreed purchase price is $36.5 million each.

The vessels are expected to be delivered to us no later than August, 2014. The acquisitions will be financed from the financial resources of the company.

Including the delivery of the current acquisitions, NAT will have a fleet of 22 Suezmax vessels – enhancing its dividend and earnings capacity.

The acquired vessels are essentially sister ships to other vessels in the company’s current fleet.  The vessels were built to high technical specifications.

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June 1, 2014