Nordic American Tankers expands suezmax fleet with secondhand buy

Suezmax specialist Nordic American Tankers (NAT) is expanding its fleet with the purchase of a South Korean-built ship.

The New York-listed firm did not disclose the name or the price tag of the vessel but said the unit has been “operated and well maintained by a top shipowner” for the last six to seven years.

The deal will see the Herbjorn Hansson-led company increase its fleet to 20 suezmaxes.

The ship is purchased on a charter-free basis and is expected to be financed via sale and leaseback.

“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,” NAT said in a release.