Nordic American Receives Vessel No. 18

Friday, March 05, 2010

Nordic American Tanker Shipping Ltd. (NYSE: NAT) took delivery on March 2 of the suezmax vessel that the company agreed to acquire in November 2009. The double hull suezmax vessel has been named Nordic Passat. Including the Nordic Passat, the company's fleet consists of 18 suezmax vessels of which two are newbuildings to be delivered later this year. The Nordic Passat will be employed in the spot market after an approximate two months period on a contract. The company noted that this addition to the fleet represents an important step in expansion of the company. The transaction is in line with the company's strategy with focus on accretive growth together with increased dividend and earnings capacity of the Company.


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