Nordic American Offshore to acquire two more PSVsVessel & ROV News // February 11, 2014
Nordic American Offshore (NAO), which currently has six PSVs in the North Sea market, has confirmed that it is to acquire two more vessels. They will be of the Ulstein design the company already operates, are due to be be delivered in January 2015 and will cost about US$44 million each.
Nordic American Tankers owns 26 per cent of the share capital in NAO.
The plan is for NAO to be listed on the NYSE later this spring. NAO is now listed on the so-called OTC (over the counter) in Oslo, Norway. The stock price of NAO has gone up about 10 per cent since it came on to the OTC at the end of November 2013.