Nordic American Tankers (NAT) has boosted its stake in Nordic American Offshore (NAO) through a $9.5m share purchase.
The suezmax specialist said it has acquired around 1.5m shares in NAO, bringing its ownership to 26.5%.
NAT’s move comes only a few days after NAO recorded a loss of $3.1m in the three months to the end of September.
Herbjorn Hansson, chairman of NAT, said at the time that he sees growth opportunities despite the challenging offshore market.
NAT
