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NAT spin off adds another PSV at $45m

NAT spin off adds another PSV at $45m
Nordic American Tankers' (NAT) recently announced OSV spin off, Nordic American Offshore (NAO), has entered into a preliminary option agreement for a seventh vessel for its fleet.

The seventh option will be delivered in spring 2015, and will cost $45m, the same price as the original six vessels.

The establishment of the new company and acquisition of the original six vessels, which were built by Ulstein Group in Norway in 2012 and 2013, was announced last week.

NAO is seeking to list on the New York Stock Exchange "as soon as possible," and lists further expansion as one of its objectives.