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Headquarter building of Samsung Heavy Industries in South Korea

Nordic American Tankers orders two new suezmaxes from Samsung Heavy

Nordic American Tankers (NAT) has ordered two new suezmax tankers from Samsung Heavy Industries (SHI), boosting its fleet of suezmaxes to 25.

NAT said the combination of specifications, quality of shipyard, price, payment terms and deliveries “make this an attractive investment” and it is consistent with its strategy to expand and renew its fleet.

Financial details of the deal were not disclosed.

The newbuildings are scheduled to be delivered in the first half of 2022.

New York-listed NAT said it will consider various financing alternatives prior to deliveries.

“The payment terms of the newbuildings are 10/10/10/10 with 60% of the building price on deliveries. The two first instalments of the vessels have already been funded,” NAT stated.

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