2016 June 2 12:12

Nordic American Tankers beefs up its Suezmax vessels fleet

On May 2, 2016 Nordic American Tankers Limited ("NAT" or "the Company") announced that it had entered into an agreement to acquire four top quality Suezmax tankers built in Japan. The first of these four vessels, the Nordic Luna, was delivered to NAT yesterday. The second vessel is expected to join the NAT fleet in mid-June. The last two vessels are expected to be delivered soon thereafter, the Company said in a press release.

Following the delivery of these four vessels, the Company will have a fleet of 30 Suezmax vessels, including two newbuildings from Korea, scheduled for delivery in August 2016 and January 2017. The NAT fleet of Suezmaxes has a substantial earnings capacity.

"We believe that our solid balance sheet and our well defined and transparent operating model, including quarterly dividend payments, is giving NAT a strong competitive position."