Nordic American Tankers Limited (NYSE:NAT) - Another TC contract with a major oil company.

ID: 1519609
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(Thomson Reuters ONE) -


Hamilton, Bermuda, September 5, 2017

Dear Shareholder,

In our message of August 23 and earlier in August 2017, we informed you about
our time charter (TC) arrangements with Shell, ExxonMobil and other major oil
companies both in the West and in the East.  We are pleased to inform you that
we now have entered into a 2 year contract with British Petroleum (BP). The
minimum rate is well above our cash break-even level with an index linked
formula providing for upside potential to NAT. Commencement is mid September;
i.e. in about 10 days.

As an example of the income potential of NAT, if our fleet is achieving about
$30,000 per day spread across all the NAT vessels, the dividend potential could
be about $2 per share per year. In the past, on occasions, the tanker market has
been much higher than that.

NAT has now five vessels on longer term contracts with major oil companies
worldwide. In addition, we have shorter contracts with other major energy
companies in the East and in the West. The contracts with big oil, such as
Shell, BP and ExxonMobil, are examples of the confidence customers have in NAT
and in our fleet of Suezmax vessels.

Kind regards,
Herbjørn Hansson
Chairman & CEO
Nordic American Tankers Limited

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.

Contacts:

Herbjørn Hansson, Chairman & CEO
Nordic American Tankers Limited
Tel: +1 866 805 9504 or +47 90 14 62 91

Erik Tomstad, Chief Executive Chartering
Nordic American Tankers Limited
Tel: +47 23 69 69 01 or +47 90 98 32 40

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

www.nat.bm

Press release (PDF) :
http://hugin.info/201/R/2131527/814471.pdf



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Nordic American Tankers Limited via GlobeNewswire






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https://www.realwire.com/releases/Prysmian-supports-ultra-broadband-development-in-Italy http://www.nat.bm



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Date: 09/05/2017 - 05:37
Language: English
News-ID 1519609
Character count: 3787
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Firma: Nordic American Tankers Limited
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Stadt: Hamilton
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