Crunch time is down to 60 days for Herbjorn Hansson and his Nordic American Tankers as the Norwegian suezmax tanker owner searches for a way to recapitalise its operations.
NAT has in place a 1 July trigger date for a $375m “backstop facility” with lender DNB under terms that analysts have called “punitive” — and it appears neither party would like to see that lending go into effect.
