Hamilton, Bermuda, August 31, 2012
As Chairman & CEO of Nordic American Tankers Limited, I would like to invite any interested shareholders, investors and analysts to take part in a telephone conference call on September 25th, 2012, at 9.00 a.m. US Eastern time.
I envision this as the first in a series of semi-annual conference calls that allow us to explain the “Nordic American System,” including our fleet profile, dividend policy, and other aspects of our strategy.
Nordic American is in an enviable position in the tanker industry today, primarily because of its low debt. This creates a competitive advantage for our company in the present environment, as outlined in our letter to shareholders three days ago and as described more extensively in our report for the second quarter announced August 7. Major oil companies such as Shell and British Petroleum are a strong part of our customer base, and we are particularly pleased with our recent agreement to do business with a subsidiary of ExxonMobil Corporation.
This conference call underscores our desire to enhance our communications with shareholders and others about conditions in the tanker industry. These calls will supplement, not replace, the several other ways in which we communicate with the financial market. These calls will also give us an opportunity to share with you some reflections on developments in the world economy and how they may affect Nordic American.
Well in advance of the conference, we shall provide dial-in details.
Best regards,
Herbjorn 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,” “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-hire, failure on the part of a seller to complete a sale to us 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:
Scandic American Shipping Ltd
Manager for:
Nordic American Tankers Limited
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 Limited
Tel: +1 800 601 9079 or + 47 908 26 906
Jacob Ellefsen, Head of Research, Monaco
Nordic American Tankers Limited
Tel: + 44 20 31 78 58 20 or + 44 78 27 92 94 11
Turid M. Sørensen, EVP & CFO, Norway
Nordic American Tankers Limited
Tel: +47 33 42 73 00 or +47 90 57 29 27
Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223
Herbjørn Hansson, Chairman and CEO
Nordic American Tankers Limited
Tel: +1 866 805 9504 or + 47 901 46 291