Nordic American Tanker Shipping has taken delivery of the suezmax vessel that the company had agreed to acquire in May. The double hull suezmax vessel has been named Nordic Grace.
Including the Nordic Grace, the fleet of the company consists of 16 suezmax vessels, of which two are newbuildings. The vessel would be employed in the company’s co-operative arrangement with the Stena Group of Gothenburg, Sweden.
Herbjorn Hansson, CEO of Nordic American Tanker Shipping, said: Our policy is to grow when it is profitable and accretive to do so.
That is, after the acquisition of a vessel, the company should be able to pay a higher dividend per share compared to the situation in which an acquisition had not taken place – irrespective of the level of the spot market, and so long as we remain above our average cash breakeven which is currently less than $10,000 per day per ship, he added.
The company said that this transaction is in line with its growth strategy.
