Nordic American Tankers (NAT) has decided to abandon its previously planned bond offering. The company informed that the decision was made as the offering is not in the best interest of NAT shareholders.
NAT explained that its financial position “changed much to the better” in the course of the last nine months. “It is worth noting that the expected improvement in the tanker market is becoming clearer.”
The company said it has financial flexibility through a large suezmax fleet and a long standing cooperation with its customers; oil and energy companies, including oil traders.