Nordic American Tankers Expands Charter Portfolio

Bermuda-based shipping company Nordic American Tankers (NAT) has entered into a one-year term charter with Spanish oil company Cepsa for the 2004-built Nordic Castor. 

As informed, the 150,200 dwt vessel is expected to be delivered on the time charter late February, subject to a satisfactory inspection in next discharge port.

The contract may last fifteen months, according to NAT.

“The fact that NAT has only one million barrel suezmax ships allows us to achieve economies of scale. The agreed rate secures a good cash flow,” the company said.

Built at Universal Shipbuilding Corporation in Japan, the Suezmax tanker has a market value of USD 18.22 million, VesselsValue’s data shows. Nordic Castor, previously named Romantic, was bought by NAT from Greece-based Nereus Shipping in 2016.

With the conclusion of this deal, NAT will have five of 33 ships — of which three are newbuilds slated for delivery in 2018 — employed on time charters with major oil companies.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >