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Thursday, October 18, 2018

Maritime Logistics Professional

June 10, 2018

Nordic American Tankers Sells Three More Suezmaxes

File Photo: Nordic American Tankers Limited

File Photo: Nordic American Tankers Limited

 Nordic American Tankers is poised to sell three more of its suezmax tankers. This follows the company's June 1 decision to sell two ships for a total price of about $9.5 million each.

 
"We wish to inform you that we have an agreement to sell 3 more suezmaxes at the same price level as the first two ones," said a press release from the company.
 
The shipping company focused on Suezmax crude tankers indicated a possible sale of two vessels early this month. 
 
These ships are also 20 years or more. 
 
All terms have been agreed and the signature on the documents is expected to take place soon.   The total cash to NAT from the sales of the 5 vessels is close to $50 million. 
 
The transactions concluded in less than two weeks illustrate the liquidity in the second hand market for suezmaxes and prove the financial flexibility of NAT.   
 
"The commercial life of a suezmax could be 20 years or more.  Therefore, such transactions are a natural part of our business," it said.
 
Nordic American Tankers