Nordic American Tankers Ltd (NYSE: NAT) – Delivery today of suezmax newbuilding from Samsung shipyard in South Korea
13 May 2022 - 8:07PM
May 13, 2022
Dear Shareholders and Investors,
Early this morning, we took delivery of a newbuilding suezmax
tanker from Samsung Heavy Industries in South Korea. The vessel is
about 150,000 tons and has the name of Nordic Harrier, which was
the first NAT ship when becoming stocklisted on the New York Stock
Exchange September 15, 1995.
Our new suezmax will commence a contract for six years to ASYAD
Shipping Company of the Sultanate of Oman. The contract is
producing earnings and cashflow as from delivery from the yard,
creating financial stability and a further foothold in this
important area.
Another newbuilding from Samsung is coming at the end of June.
This vessel also has a contract for six years to the Sultanate of
Oman.
Our experience over many years is that everything is on schedule
when Samsung shipyard is involved.
For contacts, please see at the end of this communication.
www.nat.bm
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
worldwide 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.
NAT is a Bermuda based company.
Contacts:
Bjørn Giæver, CFO
Nordic American
Tankers Ltd
Tel: +1 888 755
8391
Herbjørn Hansson, Founder, Chairman & CEONordic American
Tankers LtdTel: +1 866 805 9504
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