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Nordic American Tankers orders suezmax pair at Samsung

Herbjorn Hansson-led Nordic American Tankers (NAT) has signed newbuilding contracts with South Korea’s Samsung Heavy Industries for two suezmax tankers.

Delivery is scheduled for the first half of 2022, and the pair will grow the NAT fleet to a total of 25 suezmax tankers.

“The combination of specifications, quality of yard, price, payment terms and deliveries make this an attractive investment for NAT and is consistent with our strategy to expand and renew our fleet,” Hansson said in a letter to shareholders.

Hanson said the first two instalments on the vessels have been funded, and the company will consider various financing alternatives prior to delivery.

NAT previously ordered three suezmax tankers at the same yard in 2016. Estimates place the price of a newbuilding suezmax at region $56m, which would represent the lowest it has been since February 2018.

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Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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