NAT Announces Purchase of Suezmax Tanker

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Nordic American Tankers announced a purchase agreement for a suezmax tanker.

The vessel was built by a yard in South Korea and has been operated and well maintained by a top shipowner the last 6 to 7 years.

“The vessel is purchased on a charter free basis and we intend to finance the purchase with a sale leaseback financing – an arrangement that has worked very well for us in the past”.

This purchase will increase NAT’s fleet to 20 suezmaxes.

The vessel will be included in the company’s fleet within this quarter. NAT expects the vessel to generate positive cashflow and be a dividend contributor from day one.

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