New Norwegian offshore venture settled in

New Norwegian offshore carrier Nordic American Offshore, under Nordic American Tankers, has raised USD 250 million and will now seek a listing at the New York Stock Exchange.

Photo: Hamburg Süd

American Nordic Offshore (NAO), the new Norwegian offshore carrier that will operate supply ships to service the offshore sector, successfully raised USD 250 million in a private placement recently announced in relation to the company's establishment. Now the carrier aims to secure a listing at the New York Stock Exchange, says the company in a press release.

The company was established by Norwegian tank carrier Nordic American Tankers (NAT), which also currently serves as the biggest shareholder with an investment of USD 65 million. The new company has made a deal with Ulstein Group to purchase six PSV's (Platform Supply Vessels), built in 2012 and 2013, from the group, which owns four percent of the shares in Nordic American Offshore. Additionally, the company has an option for one more ship. The USD 250 million from the private placement will be used for purchasing these ships, and the company expects the funds to cover 80 percent of the figure.

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