Herbjørn Hansson-led Nordic American Tankers Ltd (NAT) revealed a deal to offload an oil tanker to an undisclosed buyer. The company has agreed on May 2 to sell the Cayman Islands-flagged suezmax vessel Nordic Castor, built in 2004 at a yard in Japan.
“On May 2, 2025, NAT entered into an agreement to sell the Nordic Castor (2004), at the price of $22.5 million net to us,” NAT said in its statement on Friday.
The first months of 2025 since the end of 2024 has been the most active period in Nordic American (NAT) for several years.
The shipowner has confirmed a recent purchase as part of the company’s plan to renew and grow its fleet.
Earlier this year, NAT announced that it had agreed to purchase a second 2016-built suezmax tanker which was named Nordic Moon.
This was a sister vessel of the previously purchased vessel and built at the Sungdong South Korean shipyard.
The price was $66m and this acquisition has been 50% lease financed with Ocean Yield. The vessel was delivered to the company on April 28.
The company’s plan now is to acquire ships and sell a few units. As the company said, “we are in the process of acquiring two or three vessels and to sell a few ships.”
Since the beginning of 2025, NAT purchased one 2016-built South Korean suezmax, which was named Nordic Galaxy at a price of $66m and declared the purchase option for the 2018-built suezmax tanker Nordic Cygnus. The purchase option price was $24m and a refinancing of the ship has been agreed with Ocean Yield.
It also announced on January 22 the sale of the 2003-built suezmax tanker, Nordic Apollo, at a price of $22.9m. Furthermore, on the same day, NAT announced that it had declared the purchase option for the 2018-built suezmax Nordic Aquarius. The purchase option price was $24m and a refinancing of the ship has been agreed with the finance partner Ocean Yield.
