Nordic American Tankers Limited has entered into an agreement to acquire four existing Suezmax sister vessels built in Japan at a world-class shipyard. The aggregate price is $106 million. NAT expects the vessels to be delivered during May, June and July 2016, the company said in its press release.
Between July 2014 and January 2017 a total of 10 vessels have been added to the NAT fleet, including the previously announced two newbuildings due for delivery in August 2016 and in January 2017. Going forward, this total of a 50% fleet increase within a short time span can be expected to produce significantly increased cash flows and solid dividends compared with a smaller fleet.
The seller is a well-respected group that has owned the four more or less identical sister vessels since they were built. The fact that they are sister vessels is a positive factor of significance. Two were built in 2004, one in 2003 and one in 2000.