Nordic American Tankers to Acquire New Suezmax Tanker

On March 20, Nordic American Tankers Limited (NAT) announced that the company has entered into a preliminary agreement to acquire its twenty-first vessel, a very modern double-hull Suezmax tanker delivered from a top yard in South Korea earlier this year.

The agreed purchase price is in the region of $55 million. This first class vessel is expected to be delivered no later than May 15, 2013. The acquisition will be financed from the financial resources of the company.

The vessel was built at high technical specifications, with special attention being paid on safety of the crew and the environment.

The acquisition represents a natural step in the further development of NAT. The company is seeking to increase its dividend and earnings capacity through further expansion.

NAT, March 21, 2013