Bermuda-registered Nordic American Tanker Shipping has raised about US$130m in an oversubscribed public offering of 4,225,000 shares at $32 per share. The company says it will use the money to “fund further acquisitions under planning and for general corporate purposes”.
Nordic American owns 13 modern double-hull suezmax tankers and has agreed to acquire an additional three double-hull suezmax tankers, including two newbuildings.