Hamilton, Bermuda, October 29, 2015
In our press release July 27, 2015 Nordic American Tankers Limited (“NAT” or “the Company”) announced that it had entered into an agreement to acquire two 2010 built ships for delivery to NAT in September and October 2015. The first of these two ships, the Nordic Light, was delivered to us September 22. The second was taken over by us today, October 29, and has now the name “Nordic Cross”.
Following the delivery of “Nordic Cross”, the Company will have a fleet of 26 Suezmax vessels including two newbuildings scheduled for delivery in 3Q2016 and in early 2017. The NAT fleet of Suezmaxes has a substantial earnings potential.
Going forward, NAT is seeking to increase its dividend and earnings capacity through further expansion. We believe that our strong balance sheet and our well defined and transparent operating model, including quarterly dividend payments, give the Company a strong competitive position.