NAT Rejuvenates Fleet by Selling Two Older Tankers

Tankerllustration. Image Courtesy: Pixabay under CC0 Creative Commons license

Bermuda-based shipping company Nordic American Tankers has sold two of its 1999-built tankers, the Nordic Aurora and the Nordic Sprite.

Featuring over 147,000 dwt, the vessels were disposed of only months before their special surveys in January 2019, which normally cost about USD 1 million or more per ship.

Nordic American Tankers informed that the units were sold at a price of about USD 10 million per unit net. Nordic Aurora and Nordic Sprite are scheduled to join their new owners in December 2018.

After having sold eight ships this summer, built in 1997 and 1998, the NAT fleet now consists of ships built in 2000 and onwards.

“The accumulated sale of the ten ships in 2018 is a part of our commercial strategy. The NAT top quality fleet now counts 23 suezmax tankers with an average age of 10 years,” the company said.

“The tanker market for our suezmaxes is strong – the strongest we have seen for many years. The payment of dividend will continue to remain a key element of our strategy. Our fleet is well positioned to reap the benefits of the buoyant tanker market.”

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