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            october 23, 2019

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CIBE 2019

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Fleet expansion program continues


Nordic American Tanker Shipping Limited announced that the delivery of its newbuilding suezmax - the first of two scheduled for this year - continues to be delayed. The company has mentioned this in previous quarterly reports and has advised the seller, a company in the Fred Olsen group.
Herbjorn Hansson, Chief Executive Officer, stated:  "If this situation with the sellers is not resolved, we are prepared to take the matter to arbitration, although we prefer an amicable and fair resolution."
Mr. Hansson added: "Under our expansion program we continue to be active in the market to acquire further vessels. We expect to have minimum 20 suezmax vessels by the end of next year."

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