Nordic American Tankers Completes Sale of Tanker Duo

TankerIllustration; Image Courtesy: Pixabay

Suezmax owner Nordic American Tankers (NAT) has completed the sale of the two tankers announced earlier this month.

The sale of the two ships is a strategic move for the company as it makes room for the three newbuildings set for delivery from Korean builder in the second half of 2018.

NAT ordered three 157,000 dwt tankers from Samsung Heavy Industries in 2016 in an en bloc transaction. Each tanker cost USD 56.7 million, according to the data from VesselsValue.

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

The company added that further tanker sales may be expected moving forward. Commenting on the market outlook, NAT’s is bullish on the market recovery.

 “We can assure you that we will prioritize dividend payments as in the past.  At the time of this message, there are optimistic views on the tanker market,” NAT further noted.

For the time being NAT’s fleet has been reduced to 31 tanker vessels.

Share this article

Follow World Maritime News

In Depth>


<< Nov 2019 >>
28 29 30 31 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 1

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

CrewConnect Global 2019

CrewConnect Global is the leading forum for collaboration to advance new industry approaches to seafarer recruitment and training.

read more >

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >