NAT is pleased to announce that today we entered into a purchase agreement for a suezmax tanker.

The vessel was built by a yard in South Korea and has been operated and well maintained by a top shipowner the last 6 to 7 years.

The vessel is purchased on a charter free basis and we intend to finance the purchase with a sale leaseback financing – an arrangement that has worked very well for us in the past.

This purchase will increase our fleet to 20 suezmaxes.

The vessel will be included in our fleet within this quarter, entering a strong market for our ships. We expect the vessel to generate positive cashflow and be a dividend contributor from day one.

Sincerely,
Herbjorn Hansson
Founder, Chairman & CEO
Source: Nordic American Tankers Ltd.