Nordic American Tankers Sells Two Vessels

Maritime Activity Reports, Inc.

November 22, 2018

Pic: Nordic American Tankers

Pic: Nordic American Tankers

Bermuda-based tanker ship operator now finishes the year with another sale of ships netting USD 20 million. The company has been on a selling spree in this summar.

"We would like to inform you that we have sold our two 1999 built tankers, the Nordic Aurora and the Nordic Sprite. Both ships have their so called special surveys in January next year, normally costing $1 mill or more for each ship.  The ships have been sold at a price of about $10 mill per unit net to us," the oil shipper said in a press release.

The ships are scheduled to be delivered to the new owners in December 2018. The contracts contain provisions related to the Hong Kong Convention (2009) for ships.

After having sold eight ships this summer, built in 1997/1998, the NAT fleet now consists of ships built in 2000 and onwards. The accumulated sale of the ten ships in 2018 is a part of the company's  commercial strategy. The NAT top quality fleet now counts 23 suezmax tankers with an average age of 10 years.  

"The tanker market for our suezmaxes is strong - the strongest we have seen for many years.   The payment of dividend will continue to remain a key element of our strategy.   Our fleet is well positioned to reap the benefits of the buoyant tanker market," it said.

Maritime Reporter Magazine Cover Nov 2019 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News