The purchase price of the crude oil tanker is approximately $55m and the ship is expected to be delivered no later than 15 May, the company announced. The acquisition will be financed from the financial resources of NAT itself.
“The acquisition represents a natural step in the further development of NAT. The company is seeking to increase its dividend and earnings capacity through further expansion,” NAT said in a statement.
“We believe that our strong balance sheet, well defined and transparent operating model provide the Company with a solid competitive position going forward,” it said.
NAT claimed that the vessel was built at high technical specification. “Our focus on safety for crew, vessels and the environment will never cease,” it added.
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