Samsung Delivers Suezmax Newbuild to NAT

Tanker shipping company Nordic American Tankers on Friday took delivery of a suezmax newbuild from shipbuilder Samsung Heavy Industries in South Korea.

The 157,000-dwt crude oil tanker is named Nordic Harrier, which was the first NAT ship when becoming stocklisted on the New York Stock Exchange in 1995.

The ship, which is on a 10-year bareboat charter to NAT from Norwegian shipowner Ocean Yield, will commence a contract for six years to ASYAD Shipping Company of the Sultanate of Oman. "The contract is producing earnings and cashflow as from delivery from the yard, creating financial stability and a further foothold in this important area," New York-listed NAT said in a letter to investors and shareholders. 

NAT said it expects to take delivery of another newbuild from Samsung at the end of June. This vessel will also has a contract for six years to the Sultanate of Oman.