Crew Reviews, Ratings & Info for Nordic-Cygnus

A significant new charter agreement has been established, locking in a rate of $21,000 for a three-year trading period with prominent oil and energy company VITOL. This strategic partnership underscores the ongoing demand for maritime services in the commodities sector, as companies continue to seek reliable transportation solutions for their cargo. The long-term nature of the contract assures stability and profitability for the vessel and its operators, reinforcing the essential role maritime industries play in global trade.

In an exciting development for the shipping industry, Nordic American Tankers (NAT) has proudly announced the successful delivery of their latest Suezmax vessel, the Nordic Cygnus, from Samsung Shipbuilding in South Korea. This marks the second delivery of three newbuildings as part of their ongoing expansion plan. The first vessel was handed over to NAT on July 10, 2018, and today, August 31, 2018, the Nordic Cygnus has officially joined the fleet on schedule and within budget. The name Nordic Cygnus references a star constellation, reflecting the company’s commitment to excellence in maritime operations. Over the years, NAT has maintained a robust relationship with Samsung Shipbuilding, with all transactions completed seamlessly. Suezmax tankers, like the Nordic Cygnus, have the impressive capacity to transport up to one million barrels of crude oil, a vital asset in the global shipping market. As of now, NAT boasts a fleet of 25 Suezmax vessels, with plans for further expansion on the horizon. The newly delivered Nordic Cygnus is set to embark on worldwide trading and will enter into a time charter contract lasting between three to five years, starting this autumn. The financing for this latest ship includes approximately 80% debt covering the estimated $54 million delivered price, highlighting the strategic financial planning behind this acquisition.