SOURCE: Nordic American Tankers Limited

Nordic American Tankers Limited

August 01, 2011 05:32 ET

Nordic American Tankers Ltd. (NYSE: NAT) Letter to Shareholders from the Chairman and CEO on the tragic events in Norway

SANDEFJORD, NORWAY--(Marketwire - Aug 1, 2011) - The traumatic bombing and shootings in Norway on July 22 claimed 77 innocent lives. Most of them were young people between 15 and 22 years of age. These horrific actions have prompted many of you to send us expressions of concern and condolences. Your sympathy warms our hearts in this difficult time. You have told us that we are in your thoughts and prayers, and we are most grateful.

Though many of our staff live in Norway, none have been directly affected by the attacks, which took place about a one hour drive from our offices in Sandefjord.

As you know, Norway is a small country with fewer than 5 million people. But we have spread our roots widely; there are more people of Norwegian descent in the US than the whole population of Norway.

Our country's political leaders have shown an unshakeable and unified front, no matter what party they are from. They have clearly expressed that the brutal assaults will not intimidate or threaten Norway, which will stand firm in defending its main values built on a democratic, open, tolerant and inclusive society.

Again, thank you for supporting us. You are all our friends!

Sincerely,
Nordic American Tankers Ltd.
Herbjorn Hansson
Chairman and CEO

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intend," "estimate," "forecast," "project," "plan," "potential," "will," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the tanker market, as a result of changes in OPEC's petroleum production levels and world wide oil consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form 20-F, and our reports on Form 6-K.

Contact Information

  • Contacts:
    Scandic American Shipping Ltd
    Manager for:
    Nordic American Tankers Ltd.
    P.O Box 56, 3201
    Sandefjord, Norway
    Tel: + 47 33 42 73 00
    E-mail: nat@scandicamerican.com

    Rolf Amundsen
    Head of Investor Relations, Norway
    Nordic American Tankers Ltd.
    Tel: +1 800 601 9079
    or + 47 908 26 906

    Jacob Ellefsen
    Head of Research, United Kingdom
    Nordic American Tankers Ltd.
    Tel: + 44 20 31 78 58 20
    or + 44 78 27 92 94 11

    Gary J. Wolfe
    Seward &Kissel LLP, New York, USA
    Tel: +1 212 574 1223

    Herbjorn Hansson
    Chairman and Chief Executive Officer
    Nordic American Tankers Ltd.
    Tel: +1 866 805 9504
    or + 47 901 46 291