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Nordic American Tankers Limited (NAT)

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  • Sep. 18, 2012, 2:19 PM
    Nordic American Tanker (NAT -1.4%) acquires the remaining 50% shareholding interest in Orion Tanker Pool from Frontline (FRO -9.1%), effective January, 2013. Once the transaction closes, Orion will become a 100% subsidiary of NAT. FRO's nine suezmax vessels will leave Orion later this year after the shipper advised NAT that it wishes to be more flexible in the operation of its vessels.
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Company Description
Nordic American Tankers Ltd formerly Nordic American Tanker Shipping Limited is an international tanker company that owns 24 double-hull Suezmax tankers, two of which are newbuildings that average approximately 156,000 dwt each.
Sector: Services
Industry: Shipping
Country: United States