Nordic American Tankers (NAT) has increased its stake in Nordic American Offshore (NAO) through $5.8m of share purchases.
On 1 December the company announced that it had upped its stake in NAO from 17.1% to 18%. The latest purchases on the open market of 488,216 NAO shares brings NAT's stake in NAO to 19.2%.
New York Stock Exchange-listed NAO owns six PSVs with a further four due for delivery in 2015.