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NAT buys secondhand suezmax pair

NAT buys secondhand suezmax pair
Nordic American Tankers (NAT) has purchased two suezmax tankers for a total of $122m.

The Asian-built ships average five years old and are scheduled for delivery in September and October this year.

The acquisition will bring the company's fleet to 26 vessels, and will not require an equity issue to finance.

In June the company's chairman and ceo Herbjørn Hansson said NAT was avoiding the 'gigantomania' gripping some tanker companies as rates remain high. "We are resisting the temptation to make large fleet acquisitions," Hansson said in a letter to shareholders on 24 June.