Bermuda - December 7, 2018
We refer to our message of November 22, 2018, regarding the sales of our two 1999 built tankers, the Nordic Aurora and the Nordic Sprite. The sales are now in the process of being finalized. The ships have been sold at a price of about USD10 million per unit. 30 % of the price was paid by the buyer today. The ships are scheduled to be delivered to the new owners later this month when the balance of the purchase price will be paid. The contracts contain provisions related to the Hong Kong Convention (2009) for ships.
Since the summer of 2018, 10 ships have been sold by NAT. The total gross sales proceeds are USD 98.8 million including inventories and before costs of the transactions. The sales are a part of our commercial strategy and represent an important modernization of the fleet, which now stands at 23 units. The NAT fleet has an average age of about 10 years.
The tanker market for our suezmaxes is strong. The payment of dividend will continue to remain a key element in NAT. Our fleet is well positioned to benefit from the buoyant conditions.
Nordic American Tanker Shipping Ltd., press release