June 7, 2022
Dear Shareholders and Investors,
We wish to inform you that we have sold the last of our originally four 2002 built suezmax tankers, the "Nordic Moon".
The price is about $16 million net to NAT. The vessel will be delivered to the new owners during June 2022.
We plan to take delivery of a newbuilding from Samsung Shipyard in South Korea at the end of June. It will start on a six year contract as from delivery.
The first newbuilding from Samsung in this round was delivered to us in mid - May.
The vessel started on a contract for 6 years when delivered from the yard. A strong balance sheet is essential.
The NAT debt is low compared with other US listed tanker companies.
NAT is in a positive phase of development as illustrated in this message.
Nordic American Tankers Ltd, press release