NAT Takes Over Second Suezmax

Bermuda-based tanker owner Nordic American Tankers (NAT) has taken delivery of the second of two 2010-built Suezmaxes bought for USD 122 million back in July.

The first of these two ships, Nordic Light, was delivered to NAT on September 22.

The second was taken over on October 29, and has been renamed to Nordic Cross.

Following the delivery of Nordic Cross, NAT will have a fleet of 26 Suezmax vessels, including two newbuildings scheduled for delivery in 3Q2016 and in early 2017.

“The acquisition represents a natural step in the further development of Nordic American. By adding two more ships, we increase the dividend capacity and earnings potential. We believe that our strong balance sheet, the dividend policy, well defined and transparent operating model provide NAT with a solid competitive position,” NAT said in the announcement of the purchase.

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