Nordic American Tanker Shipping Ltd. announced that the Company has agreed to acquire its tenth Suezmax vessel, a 150,
000 dwt double-hull tanker built in a
first class Far Eastern shipyard in 2003, for a purchase price of $80.9 million. The vessel is expected to be delivered from the seller no later than November 2006.
The new vessel will be operated in the spot market or on spot market-related charters, like eight of our current nine vessels.