Nordic American Tankers Limited - (NYSE: NAT) Increased Trading Fleet - Bolstering the Dividend and Earnings Capacity.
Hamilton, Bermuda, September 23, 2011
Nordic American Tankers (the "Company") yesterday took delivery of the suezmax vessel that the Company agreed to acquire from an unrelated third party in early September this year. The double hull suezmax vessel built at Samsung Heavy Industries, Korea, has been named Nordic Aurora.
Including the delivery of the newbuilding Nordic Zenith from Samsung Heavy Industries in late October 2011, the Company will have a fleet of 20 vessels in operation.
Going forward, NAT is seeking to increase its dividend and earnings capacity through expansion when the time is right to do so. We are in no rush. With one of the strongest balance sheets in the industry, the Company will continue the dividend policy based upon its unique operating model.
NAT website
http://www.nat.bm/
