Nordic American Tankers has firmed up its move into new steel, signing contracts for two suezmax newbuildings in South Korea as the New York-listed owner continues to reshape its fleet.
The Herbjørn Hansson-led company said the previously announced preliminary agreements have now been converted into firm contracts, with Daehan Shipbuilding named as builder. The two crude tankers are priced at $86m each and are scheduled for delivery in 2028.
The order comes alongside fresh disposals. Nordic American has also wrapped up the sale of two older suezmaxes built in 2004 and 2005, with both vessels already handed over to their new owner. The transactions delivered net cash of about $50m to the company.T
aken together, the moves underline a busy spell for the tanker owner. “We have refinanced parts of our fleet, sold four ships, bought two ships, and ordered two newbuildings,” the company said, pointing to an active push to lower fleet age and strengthen its balance sheet.
Daehan Shipbuilding confirmed the contracts in a separate statement, saying that, out of five suezmax crude tanker orders placed worldwide in January, it secured four, with deals inked with a Bermuda-based owner for two units, followed by contracts for two more vessels of the same class with a Liberia-based owner. For Nordic American, the Korean order keeps the company firmly in renewal mode, swapping out ageing tonnage for modern suezmaxes as it positions itself for the next phase of the tanker cycle.
