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Nordic American Tankers Ltd (NAT) – Fleet expansion program has started, involving the sale and purchase of vessels

By on October 6, 2021 0

Wednesday, October 6, 2021

Dear shareholders and investors,

In our information to the July 28 market, we informed you of the expansion of our fleet, involving the sale and purchase of vessels.
See attached link at the bottom of this post.

We have now sold a suezmax (2000 built). The transaction is fixed and firm. The vessel is due to be delivered to the new owner in October / November this year.

The transaction is part of the expansion of the NAT fleet.

Our policy is always to under-promise and over-deliver.

Truly,

Herbjorn Hansson
Founder, Chairman and CEO

Nordic American Tankers Ltd. www.nat.bm

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

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

The Company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and includes this caveat as part of such safe harbor legislation. The words “believe”, “anticipate”, “intend to”, “estimate”, “foresee”, “plan”, “plan”, “potential”, “will”, “could”, “should”, “Are you expecting”, “pending” and similar phrases identify forward-looking statements.

The forward-looking statements contained in this press release are based on various assumptions, many of which, in turn, are based on other assumptions, including, without limitation, our management’s review of historical operating trends. , data contained in our files and other data available from third parties. Although we believed 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 achieve those expectations, beliefs or projections. We assume no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Significant factors which, in our opinion, could cause actual results to differ materially from those discussed in forward-looking statements include the strength of global economies and currencies, general market conditions, including fluctuations in market rates. charter and value of vessels, changes in demand in the tanker market, due to changes in OPEC oil production levels and in world oil consumption and storage, changes in our operating expenses, including bunkering prices, dry dock and insurance costs, the market for our vessels, the availability of financing and refinancing, changes in government rules and regulations or actions taken by regulatory authorities, potential liability for ongoing or future litigation, general national and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and non-hire cases and other significant factors described from time to time in reports filed by the C 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:

Gary J. Wolfe
Seward & Kissel LLP
New-York, United States
Phone. : +1 212 574 1223

Bjørn Giæver, Chief Financial Officer
Nordic American Tankers Ltd
Tel: +1 888 755 8391 or +47 91 35 00 91

Herbjørn Hansson, Founder, President and CEO
Nordic American Tankers Ltd
Tel: +1 866 805 9504 or +47 90 14 62 91

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