In July 2015 Nordic American Tankers Ltd (NAT) announced that it had entered into an agreement to acquire two 2010 built ships for delivery to NAT in September and October 2015. The first of these two ships, the Nordic Light, was delivered on 22 September. The second was taken over on 29 October, and has now the name Nordic Cross.
Following the delivery of Nordic Cross, the company will have a fleet of 26 Suezmax vessels including two newbuildings scheduled for delivery in 3Q16 and in early 2017. The NAT fleet of Suezmaxes has a substantial earnings potential.
Going forward, NAT is seeking to increase its dividend and earnings capacity through further expansion.
Edited from press release by Angharad Lock