NAT Takes Delivery of its 22nd Ship

Nordic American Tankers Limited (NAT) announced that it today took delivery of its 22nd Suezmax vessel, the Nordic Skier, built in 2005 at a shipyard in South Korea.

NAT agreed to purchase the vessel for the price of $36.5 million, as announced in June, 2014. The company now has a fully financed fleet of 22 Suezmax vessels in operation.

The acquired vessel is essentially a sister ship to other vessels in the current NAT fleet. For NAT, it is of significant importance to have more or less identical vessels in the fleet both from an operational and cost synergy point of view.

Going forward, NAT is seeking to increase its dividend and earnings capacity through further expansion when the time is right to do so, the company said. NAT said that it believes its strong balance sheet and well defined and transparent operating model give the company a competitive position.

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