Nordic American Tanker
Shipping Ltd. has taken delivery of the suezmax vessel that it agreed to acquire on June 24, 2005 thereby increasing the fleet from 6 to 7 suezmax vessels. The 1998 built suezmax Nordic Discovery, a sister vessel of Nordic Fighter, was taken over yesterday August 9, 2005. The vessel is employed in the spot market.
The unused revolving credit facility of $300 million has been drawn upon to finance this transaction.
The increased fleet represents an important step in the further development of the company.