Nordic American Tankers Limited (NAT) said it took delivery of its 21st Suezmax vessel, the Nordic Sprinter, built in 2005 at a shipyard in Korea.

The delivery of its sister ship, the 22nd ship in the NAT fleet, is expected to take place in early August 2014, as explained by NAT. Thereafter, the company will have a fleet of 22 Suezmax vessels in operation.

“Going forward, NAT is seeking to increase its dividend and earnings capacity through further expansion when the time is right to do so. We believe that our strong balance sheet and our well defined and transparent operating model give the company a strong competitive position,” the tanker operator said in a press release.