Nordic American Tankers Limited (NYSE:NAT) – Further adjustment of the NAT fleet

In our message of May 30, 2018, we informed the market that NAT had sold two ships for a total price of about $9.5 million each.  We indicated that further sales may take place.  Today, we wish to inform you that we have an agreement to sell 3 more suezmaxes at the same price level as the first two ones.

 http://bbn.firetrench.com

These ships are also 20 years or more. 

 

All terms have been agreed and the signature on the documents is expected to take place soon.   The total cash to NAT from the sales of the 5 vessels is close to $50 million.  The transactions concluded in less than two weeks illustrate the liquidity in the second hand market for suezmaxes and prove the financial flexibility of NAT.