Nordic American Tanker Shipping Ltd. (NAT) 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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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.