New York-listed NAT has snapped up two tankers in a $122m deal, it told investors today.

It will take in the ships in September and October this year and will not issue stock to support the deal.

“The acquisition represents a natural step in the further development of Nordic American. By adding two more ships, we increase the dividend capacity and earnings potential,” a statement explained.

NAT has not offered great detail in terms of identifying the ships. It states only that they were built in the Far East and have an average age of five.

The deal mark’s NAT’s first buy since it bought the 159,000-dwt Nordic Sprinter and Nordic Skier (ex-Energy Sprinter and Energy Skier, both built 2005) from Victor Restis’s Enterprise Shipping last June. The acquisition was NAT’s first tanker buy since 2011.

In December last year NAT added two newbuildings at Sungdong Shipbuilding & Marine Engineering, its first order in almost five years.

Chief executive Herbjorn Hansson said this summer the company was looking to add one or two ships rather than execute major fleet deals.

“Those who have followed the NAT story for some time, know we prefer to grow in a considered and deliberate way," he said.

“We see that some other players, both public and private, have suffered as a result of what I like to call gigantomania.”