Nordic American Tankers Ltd. Announces Sale of Two Vessels

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Image Courtesy: Nordic American Tankers Ltd.

Nordic American Tankers Limited confirmed the sale of two vessels, adjusting the fleet from 33 to 31 suezmaxes in the short term.

The sale of vessels is, however, a part of the company’s plan to expand as NAT has three newbuildings coming from a Korean yard. The newbuildings are joining our fleet during the second half of 2018.

The commercial life of a suezmax could be 20 years or more. Therefore, such transactions are a natural part of the business. The total cash to NAT from the sale of these two vessels is between USD 9 million and USD 10 million per vessel.

This message is an indication of the commercial and financial flexibility of NAT. The further sales of vessels may be expected in the process.

Sea News, May 31