Nordic American Tankers (NAT), a New York-listed shipowner and operator, has placed another newbuild order in South Korea. NAT has signed letters of intent with a South Korean shipyard for the construction of two Suezmax tankers, each valued at approximately $86 million.
The new vessels are expected to be delivered in the second half of 2028, with the final shipbuilding contract anticipated to be finalized in early 2026.
It is understood that Nordic American Tankers last placed an order for newbuildings in 2020, when it commissioned two Suezmax tankers from South Korea’s Samsung Heavy Industries. These vessels were delivered in 2022 and entered service through a sale-and-leaseback agreement with Ocean Yield.
Nordic American Tankers currently operates a fleet of 20 Suezmax tankers, expanding its secondhand fleet while simultaneously ordering newbuildings. Earlier this year, the company acquired two 2018-built vessels from Ocean Yield under a charter agreement and purchased two 2016-built vessels from Eastern Pacific Shipping (EPS) at approximately $65.6 million each.