Alexander Hansson bought the dip.
Nordic American Tankers announced Hansson, a director and son of chief executive and founder Herbjorn Hansson, bought 50,000 shares of the New York-listed suezmax specialist on Monday for $2.31 per share.
The company's shares closed down $0.15 to $2.21 on Monday, amid a broader downturn in equities markets due to concerns over Chinese developer Evergrande defaulting on $300bn of debt.
Monday's round of purchases follows two others, one made on 31 August that saw the younger Hansson buy 100,000 shares for $2.30 and another on 17 September where he bought 75,000 shares for $2.33.
The Hansson family is Nordic American Tankers' second-largest shareholder behind institutional holder BlackRock.
In the company's annual filing, it showed Herbjorn and Alexander Hasson with a total of 4.8m shares, or 3.1%, between them, but did not disclose how many shares each owned.
On 19 August, Nordic American Tankers shares closed at a year-to-date low of $2.10, slipping from a high of $3.88.
Among publicly-listed tanker owners, the company was one of the hardest hit by the sell-off, in what was the worst day of trading in months fuelled by the belief that the Chinese government will not bail out Evergrande.
Among other tanker owners hit hard, Frontline fell 7.2% to $7.38, Scorpio Tankers dropped 7.8% to $14.82 and Teekay Tankers slid 5.3% to $11.39.
The downturn, which hit dry bulk the hardest, comes amid months of dismal rates for tankers, as Covid-19 has prevented widespread travel, holding down oil demand.
