Nordic American Tanker Shipping Ltd. has taken delivery of the suezmax vessel that it agreed to acquire in September 2005, thereby increasing the fleet from seven to eight suezmax vessels. The 1998 built suezmax has been named Nordic Saturn and was taken over today November 7, 2005.
As from takeover today the vessel is employed as a member vessel in the Gemini Tankers Pool
, comprising 18 double-hulled suezmax tankers, operated by OMI Corporation
(the seller of the ship), increasing the Company's ships with spot market exposure from six to seven units. The Company's remaining vessel is employed on a long term contract.