As previously announced in a Company’s press release earlier this month ( May 3, 2018), Nordic American Tankers Limited (NAT) indicated a possible sale of two vessels.  

NAT announces sale of two vessels
Image courtesy of NAT

Today, the Company confirms the sale of two vessels, adjusting the fleet from 33 to 31 Suezmaxes in the short term.

The sale of vessels is, however, a part of the company's plan to expand as NAT has three newbuildings coming from a Korean yard.  The newbuildings are joining NAT fleet during the second half of 2018.

The commercial life of a Suezmax could be 20 years or more. Therefore, such transactions are a natural part of NAT business.  

The total cash to NAT from the sale of these two vessels is between $9 million and $10 million per vessel.

Source: NAT