Nordic American Tankers create a new offshore supply company

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Hamilton, Bermuda, November 1, 2013

Nordic American Tankers (NAT) announced today that it is coordinating the establishment of Nordic American Offshore Ltd. (NAO), a new company that plans to purchase, on certain conditions, six platform supply vessels (PSVs). These ships were built in 2012 and 2013 by the Ulstein Group in Norway. The strategy of NAO is expected to be essentially the same as for NAT with dividend as an important element.

• more here:
  http://www.nat.bm/IR/press_releases/1739965.html

ULSTEIN enters into an agreement on sale of all six Blue Ship vessels to Nordic American Offshore.

[2013.11.01]

ULSTEIN enters into an agreement on sale of all six Blue Ship PSVs

Newly-established offshore shipping company Nordic American Offshore ( NAO ) has agreed to acquire six platform supply vessels from Blue Ship Invest ( BSI ). The vessels are of the PX121 type, and were designed and constructed by ULSTEIN in 2012-13. NAO has its source from the international tanker company Nordic American Tankers ( NAT ).

• more here:

http://www.ulstein.com/Kunder/ulstein/cms66.nsf/pages/newslista.htm?open&disp_key=E2FBBF26C69957EAC1257C1600387852&dato_start=

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Press release from Nordic American Tankers

Hamilton, Bermuda, November 2, 2013

The project as described in the NAT press release below, announced yesterday, November 1st, has been expanded to seven PSV vessels, including an option for delivery of the 7th vessel during the spring of 2015. The price for the delivered 6 vessels is about NOK 270 million each - about USD 45 million per unit. The price for the 7th vessel, if the option is exercised, is the same as for the delivered six vessels. An objective is further expansion for NAO that will be the owner of the vessels.

• more here

http://www.nat.bm/IR/press_releases/1740120.html