NAT News & Events

CEO Herbjorn Hansson said, "I am pleased to announce that we have entered into a sales agreement for a 2003-built suezmax tanker. The sales price of the ship is $25 million net to us and the ship has no debt. Nordic American Tankers Ltd. is in a solid position."

In a letter to shareholders, CEO Herbjorn Hansson said, "I am pleased to inform you that the following transactions have been carried through: The earlier announced preliminary agreements for the construction of two suezmax tankers have now been signed.The price is $86 million for each ship. The South Korean shipyard Daehan Shipbuilding is the builder. The ships will be delivered to NAT in 2028. This week we have also finalized the previously announced sale of two vessels built 2004 and 2005. The two ships have been delivered to the buyer. The net cash to NAT is $50M. These transactions show an active period. We have refinanced parts of our fleet, sold four ships, bought two ships, and ordered two newbuildings. We experience a very favorable tanker market. NAT is in a solid position."

Nordic American Tankers has entered into firm agreements to sell two suezmax tankers at a net price of $50M for both vessels. The vessels are expected to be delivered to the buyers during January 2026. Both vessels are debt free. The company expects to record a book profit from the sale of the two ships of about $14M. As advised earlier, the company entered into a preliminary agreement to have two newbuildings constructed at a South-Korean shipyard for delivery in in the second half of 2028. A firm agreement is expected to be signed in January 2026.