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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2024
SUBSEQUENT EVENTS [Abstract] |
SUBSEQUENT EVENTS |
15. | SUBSEQUENT EVENTS
On January 22, 2025, the Company announced that it had declared the purchase option for the 2018 build Suezmax tanker Nordic Aquarius, financed by Ocean Yield. We refer to note 8 for further information. On January 22, 2025, the Company announced the sale of the 2003-build Suezmax tanker, Nordic Apollo, for $22.9 million, with an expected gain of $9 million. On February 28, 2025, the Company announced that it had agreed to purchase one 2016-build Suezmax tanker for $66 million, with delivery during the second quarter of 2025. The vessel will be financed through Ocean Yield. We refer to note 8 for further information. On February 28, 2025, the Company announced that it had declared the purchase option for the 2018-build Suezmax tanker Nordic Cygnus, financed by Ocean Yield. We refer to note 8 for further information. On March 14, 2025, the Company announced that it had agreed to purchase a second 2016-build Suezmax tanker for $66 million, with delivery during the second quarter of 2025. The vessel will be financed through Ocean Yield. On February 28, 2025, the Company declared a cash dividend of $0.06 per share in respect of the results for the fourth quarter of 2024. The dividend of $12.7 million was paid on March 25, 2025.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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