Nordic American Tankers Reveals Sale Of 2002-Built Vessel

Nordic American Tanker Ltd NAT has agreed to sell a 2002 built vessel to an undisclosed buyer. The company plans to deliver the vessel to its new owners before the end of March.
As per its plan to adjust its fleet, the company sold the 2000-built Nordic Sirius in October 2021 and the 2002-built Nordic Mistral in February 2022.
The net price for the company is $15 million per vessel, in total $45 million. The sales reduce the debt.
The company noted its position further enhanced through two long-term contracts for two newbuildings for delivery by mid-2022. The value of these contracts is more than $100 million, improving the company's cash flow, profitability, and solidity.
Price Action: NAT shares are trading lower by 4.05% at $2.13 on the last check Friday.

Overview Rating:

Speculative

0100