Nanette Real Estate N.V (LSE:NAT)
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Nordic American Tanker Shipping Ltd. (NAT) - (NYSE: NAT) Now Six
Vessels are in Service
HAMILTON, Bermuda, April 5 /PRNewswire-FirstCall/ -- Nordic American Tanker
Shipping Ltd. (the "Company") today announced that the Company has taken
delivery of the two suezmax vessels that it agreed to acquire earlier this
year, thereby increasing the fleet from 4 to 6 vessels. The 1998 suezmax
Nordic Fighter was taken over on March 21st and the suezmax newbuilding on
March 29th. Both vessels are in the spot market.
Mr Herbjorn Hansson, Chairman & CEO of the Company, noted that the increased
fleet represents an important step in the further development of the Company.
He commented that this transaction is in line with the Company's growth
strategy with focus on dividend and earnings per share. During the whole 2nd
quarter of 2005 NAT is expected to have 5 vessels in the spot market as against
3 vessels in the spot market during most of the 1st quarter of 2005. The
addition of these two vessels to the fleet is bolstering the earnings capacity
of the Company. One of the six vessels in the NAT fleet is on long term
contract.
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 and our Annual Report on Form 20-F.
Contacts: Scandic American Shipping Ltd.
Manager for
Nordic American Tanker Shipping Ltd.
P.O Box 56
3201 Sandefjord, Norway
Tel: + 47 33 42 73 00 E-mail:
Web-site: http://www.nat.bm/
Rolf Amundsen
Chief Financial Officer
Nordic American Tanker Shipping Ltd.
Tel: +1 800 601 9079 or + 47 908 26 906
Gary Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223
Herbjorn Hansson
Chairman & CEO
Nordic American Tanker Shipping Ltd.
Tel: +1 866 805 9504 or + 47 901 46 291
DATASOURCE: Nordic American Tanker Shipping Ltd.
CONTACT: Scandic American Shipping Ltd., Manager for Nordic
American Tanker Shipping Ltd., +47-33-42-73-00, ; Rolf
Amundsen, Chief Financial Officer, Nordic American Tanker Shipping Ltd.,
1-800-601-9079, +47-908-26-906; Gary Wolfe, Seward & Kissel LLP, New York,
USA, +1-212-574-1223; Herbjorn Hansson, Chairman & CEO, Nordic American Tanker
Shipping Ltd., +1-866-805-9504, +47-901-46-291
Web site: http://www.nat.bm/