Nordic American Tanker Shipping Limited (NYSE:NAT) - Building of Two New Suezmax Tankers
28754 fcras 30/4 2010 12:30
0
Nordic American Tanker Shipping Limited (NYSE:NAT) - Final Agreement Signed with Samsung Heavy Industries for the Building of Two New Suezmax Tankers.
Hamilton, Bermuda, April 30th, 2010
Nordic American Tanker Shipping Limited (the "Company") announced April 12, 2010 that preliminary contracts had been entered into with Samsung Heavy Industries Co., Ltd. ("Samsung"), for the construction of two suezmax tankers to be delivered in the 2nd half of 2011. The final documents were signed yesterday and the contracts are firm.
We expect to have two newbuildings delivered to us later this year and together with the two Samsung newbuildings in 2011, our fleet is expected to be minimum 20 suezmax vessels.
These two newbuildings in 2010 and the two in 2011 will be financed by resources of the Company. There are no plans for a follow-on equity offering in connection with these four newbuildings.
These transactions are in line with the Company's growth strategy with focus on dividend and earning capacity. Having one of the strongest balance sheets in the industry, the Company is committed to continuing its full dividend policy and transparent operating model.
NAT website:
http://www.nat.bm/
Dividends:
http://www.nat.bm/IR/dividends.html
Hamilton, Bermuda, April 30th, 2010
Nordic American Tanker Shipping Limited (the "Company") announced April 12, 2010 that preliminary contracts had been entered into with Samsung Heavy Industries Co., Ltd. ("Samsung"), for the construction of two suezmax tankers to be delivered in the 2nd half of 2011. The final documents were signed yesterday and the contracts are firm.
We expect to have two newbuildings delivered to us later this year and together with the two Samsung newbuildings in 2011, our fleet is expected to be minimum 20 suezmax vessels.
These two newbuildings in 2010 and the two in 2011 will be financed by resources of the Company. There are no plans for a follow-on equity offering in connection with these four newbuildings.
These transactions are in line with the Company's growth strategy with focus on dividend and earning capacity. Having one of the strongest balance sheets in the industry, the Company is committed to continuing its full dividend policy and transparent operating model.
NAT website:
http://www.nat.bm/
Dividends:
http://www.nat.bm/IR/dividends.html
