Board members of Bermudian-based Nordic American Tankers Ltd, the oil tanker company, have increased their share ownership in the firm.

NAT said board member Alexander Hansson, who is the son of the company’s founder, chairman and CEO, Herbjorn Hansson, bought 50,000 shares in NAT on Thursday at a price of $1.9898 per share.

Since November 26, he has bought 150,000 shares, taking his private holding to 1,135,000 shares.

The company said board member Jim Kelly has 210,000 shares in NAT.

Doug Penick, who joined the board on July 19, has 175,000 shares.

The Hansson family is the largest private shareholder, holding marginally below five million shares.

The elder Mr Hansson said: “I applaud the strong support by the NAT board.”

NAT shares were listed at $2.02 on the New York Stock Exchange at midday on Friday.

The stock has a 52-week high of $4.05 and a low over that period of $1.77.