NYSE:NATOil and Gas
Nordic American Tankers Vessel Sale Puts Focus On Fleet And Valuation
Nordic American Tankers (NYSE:NAT) has agreed to sell a 2005 built vessel for around US$40 million.
Management describes the transaction as aligned with the company’s current positioning and plans for future fleet growth.
The deal affects fleet composition and adds flexibility around capital allocation going forward.
The sale comes as Nordic American Tankers trades at a share price of US$5.42, with the stock up 3.4% over the past week and 19.4% over the past month. Returns of 60.8% year to...