Nordic American Tanker takes delivery of third suezmax vessel

Bermuda-registered Nordic American Tanker Shipping has taken delivery of the last of the three suezmax vessels that it agreed to acquire in July this year. The 2003-built suezmax has been named Nordic Cosmos marks an increase in NATS’ fleet from three to twelve suezmax vessels since the autumn of 2004. All are modern double-hull ships.The vessel is increasing the company's exposure to the spot market from ten to eleven vessels, while its 12th vessel is employed on a long term contract. A NATS statement says: “The increased fleet represents an important step in the further development of the Company. This transaction is in line with the Company's growth strategy with focus on dividend and earnings per share, bolstering the earnings capacity of the Company.”