NAT sells 2003-built Suezmax tanker for US$25M in firm S&P market

Nordic American Tankers said it has “entered into a sales agreement for a 2003-built Suezmax tanker” at “US$25M net to us”, adding that “the ship has no debt”.

The company’s chairman and chief executive, Herbjorn Hansson, told shareholders and investors, “Nordic American Tankers Ltd is in a solid position.”

The disposal sits alongside recent secondhand pricing moves captured in Clarksons’ Shipping Intelligence Weekly.

In its weekly highlights, Clarksons said, “Our overall secondhand tanker price index is now up 10% over the last 3 months.”

At the end of 2025, NAT sold 2005-built Suezmax tanker Nordic Sprinter for a reported US$23M and 2004-built Suezmax tanker Nordic Luna for US$25M.

NAT also has two Suezmax tankers on order at DH Shipbuilding in South Korea for 2028 delivery, priced at US$86M each, as confirmed by the company and at the level currently quoted by Clarksons.

Separate secondhand sale and purchase data, in the same issue, reported transactions including 2010-built LR1 tanker Athiri at US$25M.

On the newbuild side, BRL’s Weekly Newbuilding Contracts reported, “Tankers took the vote this week with a variety of tonnage, if smaller numbers. VLCCs again featured, confounding the critics.”

Demolition indicators remained muted.

Clarksons reported the ship recycling market remains subdued, with only 35 ships of 1.1M dwt reported sold for demolition in the year to date.

In its ship recycling market commentary, GMS also mentioned a lack of candidates, noting that “tankers (for the most part) and containers have been absent over the last few years.”