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NAT buys four suezmaxes for $106m

NAT buys four suezmaxes for $106m
Nordic American Tankers (NAT) has picked up four secondhand suezmaxes for $106m.

NAT is acquiring the four vessels from an undisclosed buyer are due to be delivered to NAT between May and July this year. Two of the vessels were built in 2004, one in 2003 and one in 2000.

Including two newbuildings due for delivery in August 2016 and January 2017, NAT will have more than doubled its fleet since 2014 with a total of 30 vessels.

Defending the move to buy vessels that varied between 12 and 16 years in age NAT said: “Shipbuilding technology for crude oil tankers has not changed much over the last 20 years, so whether a ship has been around five years or fifteen years or longer does not matter anywhere near as much as the quality of the ship itself.”