On March 17, Nordic American Tankers (NAT) announced via its official website that it has reached an agreement to sell an older Suezmax tanker for approximately $40 million.
This move marks the latest step in Nordic American Tankers’ steady disposal of its aging fleet. The company did not disclose specific details regarding the tanker involved in the transaction, nor did it reveal the identity of the buyer; it merely stated that the vessel was built in 2005 and is now 21 years old.
At the end of 2025, Nordic American Tankers sold two Suezmax tankers—built in 2004 and 2005, respectively—for a net total of approximately $50 million. Subsequently, in February 2026, the company sold the oldest vessel in its fleet, the “Nordic Pollux” (built in 2003), for $25 million.
Following the delivery of the “Nordic Pollux” to its new owner, the oldest vessels in Nordic American Tankers’ fleet will be the “Nordic Freedom” and the “Nordic Skier”—both of which were built in 2005.
It is understood that Nordic American Tankers is active not only in the second-hand vessel market but is also expanding its fleet through newbuilding projects. In January 2026, the company placed an order with South Korea’s DH Shipbuilding for two 157,000 DWT Suezmax tankers. The total value of the order is approximately $171 million, with a unit cost of about $85.5 million per vessel; delivery is expected by November 2028.
The two newly ordered vessels feature DH Shipbuilding’s latest hull design, characterized by improvements of over 3% in fuel efficiency and navigational performance compared to existing vessels. These new vessels will be constructed in accordance with stringent environmental specifications, simultaneously meeting the International Maritime Organization’s (IMO) Tier III standards for atmospheric pollutant emissions and the Phase 3 requirements of the Energy Efficiency Design Index (EEDI).
Nordic American Tankers has long centered its operating fleet around Suezmax tankers and currently operates approximately 20 vessels. Suezmax tankers are the largest crude oil carriers capable of transiting the Suez Canal and are primarily deployed on key crude oil shipping routes connecting the Middle East, Africa, and the Americas.