Nordic American Offshore Ltd. (NYSE:NAO) - Vessel Update
December 13 2018 - 5:42AM
Hamilton, Bermuda, December 13, 2018
Nordic American Offshore Ltd. (the
"Company") (NYSE: NAO) has been awarded a two-year fixed contract
for the Platform Supply Vessel (PSV) built in 2015, "NAO
Viking".
Commencement will be about
mid-December 2018. The contract also grants the customer two
one-year optional periods after the initial firm period.
"NAO Viking " will be operating
primarily in the North Sea for a first class company. This
contract has been concluded with one of the Company's regular
customers.
The contract is securing steady
employment and contribution for "NAO Viking".
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 PSV market, as a result of changes in the general
market conditions of the oil and natural gas industry which
influence charter hire rates and vessel values, demand in platform
supply vessels, our operating expenses, including bunker prices,
dry docking and insurance costs, governmental rules and regulations
or actions taken by regulatory authorities as well as potential
liability from pending or future litigation, general domestic and
international political conditions, potential disruption of
shipping routes due to accidents or political events, the
availability of financing and refinancing, vessel breakdowns and
instances of off-hire and other important factors described from
time to time in the reports filed by the Company with the
Securities and Exchange Commission.
Contacts:
Nordic American Offshore
+377 9798 5717 (Monaco)
+1 646 432 3315 (New York)
Web-site: www.nao.bm
Press release (PDF)
This
announcement is distributed by West Corporation on behalf of West
Corporation 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 Offshore Ltd via
Globenewswire
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