Nordic American Tanker (NAT) to Acquire Its 17th Vessel for $51.5M
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Nordic American Tanker Shipping Ltd. (NYSE: NAT) today announced that the Company has agreed to acquire its seventeenth vessel, a double-hull suezmax tanker built in a first class Far Eastern shipyard in 2002 for a purchase price of $51.5 million. The vessel is expected to be delivered to us no later than November 30, 2009. This acquisition will be financed from cash on hand. No equity offering is being planned in connection with this acquisition.
The new vessel is expected to be operated in the spot market or on spot market-related charters.
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