Putting his money where his mouth is Herbjorn Hansson has upped his holding in Nordic American Offshore (NAO) on the back of what he describes as an improved market for spot rates for PSVs in recent weeks. Hansson, who is chairman of both NAO and Nordic American Tankers (NAT), has bought about $500,000 worth of stock in NAO recently. NAT’s stake in NAO now stands at 26%, up from 19% last month.
PSV rates have hovered around $5,000 per day, Hansson noted. “There are fewer PSVs available right now because many of them have been laid-up given the market. Our modern and efficient ships have been operating all the time in this market,” the Norwegian national said in a release.