Nordic American Tankers confirms sale of two vessels

Nordic American Tankers confirms sale of two vessels

Nordic American Tankers (NAT) has confirmed the sale of two suezmax tankers from its fleet, having telegraphed the move in a release earlier this month.

The sale of the vessels is part of the company’s fleet optimisation plan as NAT has three newbuildings coming from South Korean yard Samsung Heavy Industries. The newbuildings are set to join NAT’s fleet during the second half of 2018.

The price for the two vessels is between $9m and $10m per vessel.

NAT said the transactions are a natural part of the company’s business as it looks to phase out older vessels in the fleet. The identities of the vessels were not disclosed.

According to VesselsValue, the company’s fleet currently has 10 older tankers built between 1997 and 1999.

Following the vessel disposal, NAT’s fleet will be downsized from 33 to 31 suezmaxes in the short term.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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