Clarksons: NAO has the 'legs to run'

Clarksons Platou Securities has initiated coverage of Nordic American Offshore (NAO) in the belief it can profit from any OSV market recovery.

The company said the "time is now" for the Herbjorn Hansson-chaired platform supply vessel (PSV) owner.

"Having recently completed a $50m recapitalisation, in our view NAO has legs to run as the OSV market begins to recover," it added.