Market Overview

Nordic American Tankers Buys 21st Vessel for $55M

Related NAT
Earnings Scheduled For November 11, 2015
Morgan Stanley: VLCC Rates WoW Increased 37% Last Week To $70kpd, Surging Long-Haul Flows Spark Rate Increases & Morgan Expects Stocks To Follow
The Tanker Industry: 3Q15 Comparison Of Revenues (Seeking Alpha)

Nordic American Tankers Limited (NYSE: NAT) ("NAT" or the "Company") today announced that the Company has entered into a preliminary agreement to acquire its twenty-first vessel, a very modern double-hull Suezmax tanker delivered from a top yard in South Korea earlier this year. The agreed purchase price is in the region of $55 million. This first class vessel is expected to be delivered to us no later than May 15, 2013. The acquisition will be financed from the financial resources of the Company.

Posted-In: News


Related Articles (NAT)

Get Benzinga's Newsletters