Bermuda: Nordic American Tankers Receives New 158.000 DWT Tanker Nordic Breeze Built by SHI

Nordic American Tankers Limited today took delivery of the Nordic Breeze,a suezmax newbuilding tanker of 158,000 deadweight tons built at Samsung Heavy Industries Co., Ltd. , South Korea. The Nordic Breeze will be employed in the Gemini Suezmax cooperation.

One further vessel, the Nordic Zenith, is also under construction at Samsung. This suezmax vessel is expected to be delivered in October this year.

Going forward, the Company is seeking to increase its dividend and earnings capacity through further expansion. The Nordic Breeze newbuilding is an important addition to the NAT fleet. The Company has ample financial resources with one of the strongest balance sheets in the industry.

At the end of 2010, Nordic American had 15 vessels employed in the market. Through disciplined financial management and a well-defined operating model, the Company is expected to have a fleet of 19 suezmax vessels when the Nordic Zenith joins the fleet in October, representing a fleet increase of about 26% in less than a year.

Source: Nordic American Tankers, August 25, 2011; Image:shi

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Posted on August 25, 2011