(RTTNews) -  Nordic American Tanker Shipping Ltd. (NAT: News ) announced that it has agreed to acquire its eighteenth vessel, a double-hull suezmax tanker built in a first class Far Eastern shipyard in 2002 for a purchase price of $51.5 million.

The company expects the vessel to be delivered to it no later than March 1, 2010. The company noted that the acquisition will be financed from cash on hand and no equity offering is being planned in connection with the acquisition.
The company also stated that its eighteenth suezmax vessel will be accretive both to dividends and earnings per share.

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by RTT Staff Writer

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