Nordic American Tankers Ltd announced today that it has entered into a preliminary agreement with South Korean shipyard Sungdong Shipbuilding & Marine Engineering Co., Ltd. to build two 158,000 deadweight ton Suezmax tankers at a cost of $65 million each.
Deliveries are planned for the third quarter 2016 and the first quarter 2017.
“This is an important step forward for Nordic American,” said Herbjørn Hansson, the Chairman & CEO of the Company. “By adding two more ships, we increase the dividend capacity and bolster our earnings potential. We believe that our solid balance sheet as well as our well-defined and transparent operating model are elements supporting the competitive position of the Company.”