Nordic American Tankers Sells Last 2002-Built Suezmax Tanker

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Nordic American Tankers (NYSE:NAT) has announced sale of the last of its originally four 2002-built suezmax tankers, the “Nordic Moon.”

Samsung shipyard

The tanker was sold for about $16M net to NAT. It will be delivered to the new owners in June 2022.

Additionally, the tanker company plans to take delivery of a newbuilding from Samsung Shipyard at the end of June. This vessel will placed on a six year contract upon delivery.

The first newbuilding from Samsung in this round arrived in mid – May and was immediately placed on a contract for six years.

NAT shares have slid 37% over the past year but are up ~15% YTD

Now Read: Nordic American Tankers boosts dividend by 100% to $0.02

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Source: seekingalpha

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