Dubai - Mubasher: Gulf Navigation Holding (GulfNav) and Nordic American Tankers (NAT) announced on Tuesday that they have signed a debt settlement agreement, according to a press release.
The long standing debt that GulfNav owed to NAT has now been settled fully and finally pursuant to the terms, according to the statement.
“We are happy to have reached this important settlement with Nordic American Tankers and I thank them for their positive commitment during the negotiations,” GulfNav CEO Khamis Juma Buamim said.
“This is a step and an important milestone on the commitment we have made earlier to seek fair and amicable settlements with all our legacy debtors,” he added.
Khamis added that GulfNav is now equipped to take a stronger market position by providing quality and cost effective services not only in the chemical tankers but also in other shipping business segments.
