Nordic American Tankers sells one vessel and takes another with purchase option

Suezmax specialist Nordic American Tankers (NAT) is adding a leased vessel to its owned fleet and shipping out one of its oldest tankers.

The New York-listed company said it had declared a purchase option on an unnamed 2018-built vessel “on favourable terms from a close financing partner”.

NAT has three 2018 Samsung-built suzmaxes the Nordic Aquarius, the Nordic Cygnus and the Nordic Tellus all financed through deals with KKR-owned Norwegian owner and sale and leaseback player Ocean Yield.

The Herbjorn Hansson-led owner and operator has also sold one of its 2003-built suezmaxes to UK-based interests. The sale of the Nordic Apollo or the Nordic Pollux, estimated by VesselsValue as worth about $25.5m and $24m, respectively, will boost NAT’s cash by $22.5m.

The vessel should change hands in February, after which NAT’s fleet will stand at 19 suezmax tankers.