UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR
15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For
the month of February 2008
Commission
File Number: 001-13944
|
NORDIC
AMERICAN TANKER SHIPPING LIMITED
|
|
(Translation
of registrant’s name into English)
|
|
LOM
Building, 27 Reid Street, Hamilton, HM 11, Bermuda
|
|
(Address
of principal executive office)
|
Indicate
by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.
Form
20-F [X] Form 40-F
[ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): ___
Note:
Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely
to provide an attached annual report to security holders.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)7: ___
Note:
Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to
furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrant's
"home country"), or under the rules of the home country exchange on which the
registrant's securities are traded, as long as the report or other document
is
not a press release, is not required to be and has not been distributed to
the
registrant's security holders, and, if discussing a material event, has already
been the subject of a Form 6-K submission or other Commission filing on
EDGAR.
Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes
[_] No [X]
If
“Yes” is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
82-______________.
INFORMATION
CONTAINED IN THIS FORM 6-K REPORT
Attached
as Exhibit 1 is a press release of Nordic American Tanker Shipping
Limited, dated February 12, 2008, announcing its financial results for the
fourth quarter of 2007.
Exhibit
1
Nordic
American Tanker Shipping Ltd.
(NYSE:NAT) – Announces
Dividend and Earnings in
respect
of the 4th
Quarter of
2007
Hamilton,
Bermuda,
February
12th,
2008
Nordic
American Tanker Shipping Ltd.
(“Nordic American” or “the Company”) todayannounced
its
results
for the 4th quarter
of 2007. The Company’s results improved in
4Q07
compared to 3Q07. After a weak period up to early December the spot tanker
market turned around quickly. In January 2008 our vessels achieved about $45,000
per day – compared with an average of about $27,000 during 4Q07. The
recent instability in the financial markets has not impacted the results of
the
Company.
The
Company’s operating cash flow has
enabled the Company
to
declare a dividend
of $0.50
per
share for 4Q07 while the dividend
was $0.40 in
the 3Q07. The
Company has now declared a dividend for 42
consecutive quarters since the autumn of
1997 when our first
three vessels were delivered. For
the last four quarters, including
the dividend to be paid for 4Q07,
a total of $3.31
has been declared in dividend.
Based
upon the premise that a
significantly weakened development of the world economy can be avoided in the
time to come, it is expected that 2008 should be another good year for Nordic
American.
Highlights:
|
●
|
Our
fleet now consists of 14
double hull suezmax tankers including the two newbuildings to be
delivered
in 4Q09 and in April 2010. In the autumn of 2004 the
Company had three suezmax tankers.
|
|
●
|
The
Board of Directors has
declared a dividend of $0.50 per share for
the 4th quarter
of 2007. The
dividend is expected to be
paid on March
7th,
2008,
to shareholders of record as
of February
22nd,
2008.
|
|
●
|
Net
income for 4Q07
was $0.06 per share based
on the average
number of shares
outstanding during the quarter – 29,975,312 – the same number of
shares issued
and
outstanding as of December
31st,
2007.
Loss of income and other one time
costs, discussed later in this release, has reduced the earnings
per share
by approximately $0.16 per share for the
quarter.
|
|
●
|
In
4Q07 total offhire was 80 days
related to planned drydocking, steel replacements and
repairs.
|
|
●
|
The
consolidation of our
commercial and technical operations has now been completed and is
expected
to create cost and income synergies going
forward.
|
|
●
|
Several
shipping companies have
decided to convert single hull oil tankers into dry cargo vessels
and into
vessels for the offshore oil industry, thereby moderating the growth
in
the world tanker fleet.
|
Dividends
per Share, Earnings per Share and Financial Information:
The
operating cash flow(1)was
$17.2m
for 4Q07,
compared
to $13.8m
for 3Q07
and $26.6m
for 4Q06.
The
Board has declared a dividend of
$0.50 per share in respect
of 4Q07.
A
dividend of $0.40 per
share was declared for 3Q07. The
dividend
for 4Q06
was $1.00 per
share. The development of the
dividend is
above all a direct reflection of the level of the volatile spot tanker
market.
Net
income for 4Q07
was $1.7m, or $0.06per
share (EPS). This
compares to a net income of -$1.2m
or -$0.04
per
share for 3Q07.
In 4Q06,
net income was $13.7m,
or $0.52 per
share. In 4Q07 the Company incurred
one time costs equivalent to $0.07 per share due to loss of income following
the
drydocking of one vessel and time lost during steel repairs. The results for
4Q07 also reflect non-cash pension costs of $2.7m (or $0.09 per share) of which
$0.9m relates to 2007 and $1.8m relates to prior periods in connection with
the
previously disclosed implementation of a pension arrangement established in
2007
for the Company’s Chief Executive Officer. The CEO has had his position since
the inception of the Company in 1995 and has no plans to retire from his present
position.
In
the 4th
quarter one
of our vessels underwent a
10-year special survey
and steel replacement with
aloss
of80income
days.The
costs of the extra steel investments
are not expected to impact dividends going forward and are depreciated as
capital costs.
We
consider our general and administrative
costs per
dayper ship to be at a low
level. We also continue to have a strong focus on keeping the operating costs of our
vesselslow. However, we
note the continuing upward pressure across the shipping industry
on vessel
operating costs – above all
related to crewing costs,
lubricating oil costs and repair and maintenance costs.
The
Company does not engagein
freight or interest
derivatives.
We
estimate that our averagecash breakeven for our
fleet of
12vessels(excluding
the two newbuildings)
is approximately
$9,800 per
dayper vessel. When
the freight market is above this
level, the Company can be expected to pay dividends based on its strategy.
The breakeven rate is
the
amount of average daily revenues for our vessels which would cover our vessel
operating expenses, voyage expenses, if any, cash general and administrative
expenses, interest expense and other financial charges.
The
debt financing of the two
newbuildings, is not expected to impact dividend payments to shareholders nor
earnings in the period up to delivery of the vessels. A deposit of 10% of the
purchase price was paid in November 2007 inthe
aggregate amount of $18m for both
vessels. Further payments will be made in the autumn of 2008, in2009
and at the time of delivery of the
vessels.
At
the end of 4Q07,
our net debt was approximately
$7.7m
per vesselor $92.2m in total. At
the same timewe have approximately
$394m
undrawn under our $500m revolving
credit facility with maturity
in 2010. There is no repayment obligation during the term of the
facility, and the Company pays interest only on drawn amounts, and a commitment
fee for undrawn amounts.The
Company has one of the strongest balance sheets in the tanker industry,
providing flexibility for the Company if a weaker freight environment should
occur. Some shipping companies are now facing challenges when it comes to
financing their large newbuilding programs as shipping banks are more
restrictive than before in granting credit.
For
further details on our financial
results, please see later in this release.
The
Fleet:
Eleven
of the Company’s 12 trading vessels
are employed in
the spot market, while one vessel
remains employed on a long-term
fixed rate
charter.
By
way of comparison, in the autumnof
2004 the Company had threevessels;
at the end of 2005 the Company
had eight vessels; and at the end of 2006 the Company had 12 vessels.
During
4Q07,
we also
had
12 vessels in operation.With
the two newbuildings announced in November 2007, the Company will have a fleet
of 14 vessels.
|
Vessel
|
Dwt
|
Employment
|
|
|
Gulf
Scandic
|
151,475
|
Long
term fixed
charter
|
|
|
Nordic
Hawk
|
151,475
|
Spot
|
|
|
Nordic
Hunter
|
151,400
|
Spot
|
|
|
Nordic
Voyager
|
149,591
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Spot
|
|
|
Nordic
Fighter
|
153,328
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Spot
|
|
|
Nordic
Freedom
|
163,455
|
Spot
|
|
|
Nordic
Discovery
|
153,328
|
Spot
|
|
|
Nordic
Saturn
|
157,332
|
Spot
|
|
|
Nordic
Jupiter
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157,411
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Spot
|
|
|
Nordic
Cosmos
|
159,998
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Spot
|
|
|
Nordic
Moon
|
159,999
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Spot
|
|
|
Nordic
Apollo
|
159,999
|
Spot
|
|
|
Newbuilding
|
163,000
|
Delivery
4Q09
|
|
|
Newbuilding
|
163,000
|
Delivery
by end April
2010
|
|
|
Total
|
2,194,791
|
The
consolidation of our commercial
operations has been completed. The Company is now working together
with Frontline Ltd. (NYSE: FRO) and the private Stena group of Sweden–
both
world names in the tanker
industry. These arrangements are expected to create synergies through economies
of scale, resulting in a positive impact on our overall results. At the same
time we have consolidated our technical operating functions and V.Ships Norway
AS is managing 11 of our vessels. The changeover has resulted in
one-time costs of about $700,000 which are reflected in our results for 2007
and
of which $370,000 are related to 4Q07. Going forward, the consolidation should
facilitate cost efficient crew rotation and provide for economies of scale,
which should positively impact the operating cost level for the
ships.
One
vessel will be in scheduled drydock
in 1Q08, with an expected loss of 25 income days.
The
Market:
|
The
average daily rate for our
spot vessels was about $27,000 per day net to us during 4Q07 compared
with
$24,600 for 3Q07. Typically, when freight rates are increasing, as
they
did as from early December 2007 and towards the end of the year,
a few
weeks will elapse before this increase is translated into improved
results
for our Company as our ships normally at any given point in time
have
employment a few weeks ahead. Conversely, in a decreasing spot
market the freight income will be higher than the daily spot market
rates
for a while. We
expect that freight ratesmay
continue to fluctuate
significantly.
|
 |
The
graph above shows the average yearly
spot rates as from 2000 as reported by R.S. Platou Economic Research
a.s.
The
world’s suezmax fleet stood at
354 vessels at the end of the 4Q07, compared to 352 vessels
at the end of
3Q07. Four new vessels were delivered during 4Q07 while two vessels
were converted. 19 vessels are scheduled to be delivered from the
shipyards in 2008, and the total suezmax orderbook stood at 131 vessels
at the end of December 2007. At
the same time, there are 53 single
hull vessels still in service but
they are expected to be phased
out from the
tanker trade by 2010 due to international legislative changes. A recent high profile
pollution incident
in Korean waters has further damaged the weak position of single hull tankers.
We believe that this
development is advantageous for our Company, which owns only double hull
tankers. Following the strength of the offshore oil industry and the dry cargo
market, both single hull
suezmax
tankers
and very large crude carriers are
being withdrawn
from the tanker market as they
are converted to other purposes – such as offshore vessels and dry bulk
carriers. From
January 2006 through the
end of
2007 about 10 million dwt
of tanker tonnage has been
scheduled for conversion to nontanker
purposes. This
development has the effect of dampening
tanker
supply growth. We expect a marginal increase of the suezmax tanker fleet during
2008. Some single hull vessels may be scrapped – depending on the
level of the suezmax tanker market going forward.
Deliveries
of new tankers from shipyards
over the next few years can be estimated with a high degree of
certainty. The shipyards are expected to operate more or less
at full
capacity with their present
orderbooks, and new orders placed for suezmax tankers are typically for delivery
in 2011or
later.There is always potential
for slippage,
with delivery of some vessels from the yards being delayed compared with the
original schedules.
The
level of the tanker market in the
longer term is essentially a function of supply and demand for tanker tonnage.
In addition to the supply of new vessels from the ship yards, adjusted for
phasing out single hull tonnage and for other vessel deletions, the level of the tanker market
in the
foreseeable future
is
above all dependent on
the development of the world economy.So far we have not seen
that the
instability of the financial markets have impacted trade flows in the crude
oil
business. Far Eastern countries and other emerging areas including
South America, are showing strong economic growth, which to some extent is
balancing out the economic challenges in the United Statesand
the Western world.
|
Total
World Oil
Demand
(mill
bbl per
day)
|
||
|
World
oil demand is one important
indicator of demand for tanker tonnage. The graph shows
that the world oil
demand has increased eachyear
the last 20 yearswith the exception
of
1993. The oil demand
has demonstrated resistance to recessions, bubbles and international
conflicts.
|
 |
|
|
*estimate
Source:
International Energy
Agency, January 16th
2008.
|
Strategy
going forward:
The
operations of the Company are based
on its unique and transparentoperating
model. Some other listed companies
have on
occasions changed policies and invested in sectors outside of their core
business. In the foreseeable future we intend to stick to our operating model
and to our core business. Investors can rely on Nordic American to continue
to
be predictable. Going forward, our policy is that growth should be accretive;
that is, after an acquisition of vessels or other forms of expansion, the
Company should be able to pay higher dividend than before such an event.
Afull dividend payout
policy with high spot market exposure and a strong balance sheet should provide for a
competitive yield
compared with other shipping companies.
We
focus on a cost efficient
management
of the Company, both in
regard to the operating expenses of the vessels and general and administrative
expenses(G&A). The
Company’s G&A costs continue to be among the lowest in the
industry.
We
regard it as extremely important that
the interests of management are aligned with those of
shareholders.
The
Company's exposure to the spot
market is based on our analysis showing that the spot market over time can
be
expected to produce higher revenues on average than the time charter
market. A certain amount of term charter coverage is also being
contemplated from time to
time.
The
main objective of the Company is to
maximize itsrisk adjusted
total
return(2)for
shareholders via a transparent,
predictable and simple strategic platform.
*
* * * *
|
(1)
|
Operating
cash flow is a non-GAAP
financial term often used by investors to measure financial performance
of
shipping companies. Operating cash flow represents income from
vessel operations before depreciation and non-cash administrative
charges. Please see page 7for
a reconciliation of this
non-GAAP
measure as used in this
release to the most directly comparable GAAP financial
measure.
|
|
(2)
|
The
total return is
basedonthe
price for our common shares
plus dividends reinvested in our common
shares.
|
NORDIC
AMERICAN TANKER SHIPPING LIMITED
Amounts
in USD ‘000
|
CONDENSED
STATEMENTS OF OPERATION
|
Three
Months Ended
|
Twelve
Months Ended
|
||||||||||||||||||
|
Dec.
31, 2007
|
Sep.
30, 2007
|
Dec.
31,
|
Dec.
31, 2007
|
Dec.
31,
|
||||||||||||||||
|
(unaudited)
|
(unaudited)
|
2006
|
(unaudited)
|
2006
|
||||||||||||||||
|
NET
VOYAGE REVENUE
|
26,859 | 24,077 | 34,269 | 139,864 | 135,348 | |||||||||||||||
|
OPERATING
EXPENSES
|
||||||||||||||||||||
|
Vessel
operating expenses
|
(7,863 | ) | (8,722 | ) | (6,105 | ) | (32,124 | ) | (21,102 | ) | ||||||||||
|
Depreciation
|
(11,234 | ) | (10,520 | ) | (8,456 | ) | (42,363 | ) | (29,254 | ) | ||||||||||
|
General
and administrative costs
|
(4,647 | )* | (4,048 | )* | (5,188 | )* | (12,132 | )** | (12,750 | )** | ||||||||||
| (23,744 | ) | (23,290 | ) | (19,742 | ) | (86,619 | ) | (63,106 | ) | |||||||||||
|
Income
from vessel operation
|
3,115 | 787 | 14,520 | 53,245 | 72,242 | |||||||||||||||
|
Interest
income
|
200 | 316 | 962 | 904 | 1,602 | |||||||||||||||
|
Interest
expense
|
(1,640 | ) | (2,282 | ) | (1,737 | ) | (9,943 | ) | (6,451 | ) | ||||||||||
| (1,440 | ) | (1,966 | ) | (775 | ) | (9,039 | ) | (4,849 | ) | |||||||||||
|
NET
INCOME
|
1,675 | (1,179 | ) | 13,745 | 44,206 | 67,393 | ||||||||||||||
|
Earnings
per average number of shares
|
0.06 | (0.04 | ) | 0.52 | 1.56 | 3.14 | ||||||||||||||
|
Weighted
average number of shares
|
29,975,312 | 29,162,088 | 26,276,292 | 28,252,472 | 21,476,196 | |||||||||||||||
|
Common
shares outstanding
|
29,975,312 | 29,975,312 | 26,914,088 | 29,975,312 | 26,914,088 | |||||||||||||||
|
*)
|
The
G&A for the three months ended Dec. 31, 2007, Sep. 30, 2007 and Dec.
31, 2006 include non-cash charges of $2.9m, $2.5m and $3.6m respectively
which are charges related to share based compensation, the 2004 Stock
Option Plan and pension cost.
|
|
**)
|
The
G&A for the twelve months ended Dec. 31, 2007 and 2006 include
non-cash charges of $6.2m and $7.9m respectively which are charges
related
to share based compensation, the 2004 Stock Option Plan and pension
cost.
|
|
CONDENSED
BALANCE SHEETS
|
Dec.
31, 2007
|
Dec.
31, 2006
|
||||||
|
(unaudited)
|
||||||||
|
Cash
deposits
|
13,342 | 11,729 | ||||||
|
Accounts
receiveable
|
14,489 | 13,416 | ||||||
|
Other
current assets
|
16,972 | 19,333 | ||||||
|
Vessels
|
740,631 | 752,478 | ||||||
|
Other
long term assets
|
19,194 | 3,224 | ||||||
|
Total
Assets
|
804,628 | 800,180 | ||||||
|
Accounts
payable
|
7,290 | 3,006 | ||||||
|
Accrued
liabilities
|
17,068 | 11,728 | ||||||
|
Accrued
long-term liability
|
2,665 | 0 | ||||||
|
Long-term
debt
|
105,500 | 173,500 | ||||||
|
Shareholders’
equity
|
672,105 | 611,946 | ||||||
|
Total
liabilities and shareholders’ equity
|
804,628 | 800,180 | ||||||
|
CONDENSED
STATEMENTS OF CASH FLOW
|
Twelve
months ended
|
|||||||
|
Dec.
31, 2007
|
Dec.
31, 2006
|
|||||||
|
(unaudited)
|
||||||||
|
OPERATING
ACTIVITIES
|
||||||||
|
Net
cash from Operating Activities
|
83,643 | 106,613 | ||||||
|
FINANCING
ACTIVITIES
|
||||||||
|
Net
proceeds from sale of Common Stock
|
119,757 | 288,357 | ||||||
|
Proceeds
from use of Credit Facility
|
55,000 | 274,500 | ||||||
|
Repayment
of debt
|
(123,000 | ) | (231,000 | ) | ||||
|
Deposit
on NB contracts
|
(18,000 | ) | 0 | |||||
|
Loan
facility costs
|
(14 | ) | (591 | ) | ||||
|
Dividends
paid
|
(107,349 | ) | (122,590 | ) | ||||
|
Net
Cash provided by (used for) Financing Activities
|
(73,606 | ) | 208,676 | |||||
|
INVESTING
ACTIVITIES
|
||||||||
|
Investment
in Vessels
|
(8,424 | ) | (317,800 | ) | ||||
|
Net
cash used by investing activities
|
(8,424 | ) | (317,800 | ) | ||||
|
Net
Increase in Cash and Cash Equivalents
|
1,613 | (2,511 | ) | |||||
|
Beginning
Cash and Cash Equivalents
|
11,729 | 14,240 | ||||||
|
Ending
Cash and Cash Equivalents
|
13,342 | 11,729 | ||||||
NORDIC
AMERICAN
TANKER SHIPPING LIMITED
Reconciliation
of non-GAAP financial measures
(Amounts
in USD ‘000)
|
Three
Months Ended
|
Twelve
Months Ended
|
|||||||||||||||||||
|
Dec.
31,
|
Sep.
30,
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
||||||||||||||||
|
2007
|
2007
|
2006
|
2007
|
2006
|
||||||||||||||||
|
Voyage
revenue
|
40,174 | 34,097 | 45,142 | 186,986 | 175,520 | |||||||||||||||
|
Voyage
expenses
|
(13,315 | ) | (10,020 | ) | (10,873 | ) | (47,122 | ) | (40,172 | ) | ||||||||||
|
Net
voyage revenue (1)
|
26,859 | 24,077 | 34,269 | 139,864 | 135,348 | |||||||||||||||
|
Three
Months Ended
|
||||||||||||
|
Dec.
31,
|
Sep.
30,
|
Dec.
31,
|
||||||||||
|
2007
|
2007
|
2006
|
||||||||||
|
Income
from vessel operations
|
3,115 | 787 | 14,520 | |||||||||
|
Depreciation
|
11,234 | 10,520 | 8,456 | |||||||||
|
Non-cash
general & administrative costs
|
2,890 | 2,522 | 3,369 | |||||||||
|
Operating
Cash Flow(2)
|
17,239 | 13,829 | 26,667 | |||||||||
|
(1)
|
Net
voyage revenues represents voyage revenues less voyage expenses such
as
bunker fuel, port fees, canal tolls and brokerage commissions. Net
voyage
revenues is included because certain investors use this data to measure
a
shipping company's financial performance. Net voyage revenues is
not
required by accounting principles generally accepted in the United
States
and should not be considered as an alternative to net income or any
other
indicator of the Company's performance required by accounting principles
generally accepted in the United States.
|
|
(2)
|
Operating
cash flow represents income from vessel operations before depreciation
and
non-cash administrative charges. Operating cash flow is included
because
certain investors use this data to measure a shipping company's financial
performance. Operating cash flow is not required by accounting principles
generally accepted in the United States and should not be considered
as an
alternative to net income or any other indicator of the Company's
performance required by accounting principles generally accepted
in the
United States.
|
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 Tanker Shipping Limited
P.O
Box 56, 3201 Sandefjord, Norway
Tel:
+ 47 33 42 73 00 E-mail: nat@scandicamerican.com
Rolf
Amundsen, Investor Relations
Nordic
American Tanker Shipping Limited
Tel:
+1 800 601 9079 or + 47 908 26 906
Gary
J. Wolfe
Seward
& Kissel LLP, New York, USA
Tel:
+1 212 574 1223
Turid
M. Sørensen, CFO
Nordic
American Tanker Shipping Limited
Tel: +
47 33 42 73 00 or + 47 905 72 927
Herbjørn
Hansson, Chairman and Chief Executive Officer
Nordic
American Tanker Shipping Limited
Tel:
+1 866 805 9504 or + 47 901 46 291
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
NORDIC
AMERICAN TANKER SHIPPING LIMITED
(registrant)
|
Dated: February
12, 2008
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By:
|
/s/
Herbjørn Hansson
|
|
|
Herbjørn
Hansson
|
|||
|
Chairman,
Chief Executive Officer and President
|
SK 01318 0002 854646