Nordic American Tankers Limited (NYSE:NAT) -- Final agreement signed for the building of two new suezmax tankers, increasing ...
December 22 2014 - 5:17AM
On December 9, 2014, Nordic American Tankers Ltd. announced that
preliminary contracts had been entered into with a South Korean
shipyard, for the construction of two suezmax tankers to be
delivered in the third quarter 2016 and first quarter 2017. The
final documents were signed December 19, 2014. The contracts are
now firm, bringing the NAT fleet to 24 suezmax crude oil tankers,
being able to transport one million barrels of oil each.
The purchase price of the two newbuilding vessels is in the
region of $65 million each, which is expected to be financed by the
internal resources of NAT. The stage payments to the yard by NAT
during construction will be guaranteed by a first class bank.
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, our Annual Report on Form 20-F, and our
reports on Form 6-K.
For questions related to this message, please contact
Nordic American Tankers Limited:
Jacob Ellefsen, Manager, Investor Relations and Research Nordic
American Tankers Limited Tel: + 33 678 631 959 or + 377 93 25 89
07
Turid M. Sørensen, CFO & EVP Nordic American Tankers Limited
Tel: +47 33 42 73 00 or +47 90 57 29 27
Rolf Amundsen, Advisor Nordic American Tankers Limited Tel: +1
800 601 9079 or + 47 908 26 906
Herbjørn Hansson, Chairman & CEO Nordic American Tankers
Limited Tel: +1 866 805 9504 or + 47 901 46 291
For questions related to the newly established separate
company, Nordic American Offshore Ltd., please
contact:
Tor-Øyvind Bjørkli, Chief Executive Officer Nordic American
Offshore Ltd. Tel: +47 90 62 70 14 or +47 21 99 24 81
Herbjørn Hansson, Executive Chairman Nordic American Offshore
Ltd. Tel: +1 866 805 9504 or + 47 901 46 291
Jacob Ellefsen, Manager, Investor Relations and Research Nordic
American Offshore Ltd. Tel: + 33 678 631 959 or + 377 93 25 89
07
Gary J. Wolfe Seward & Kissel LLP, New York, USA Tel: +1 212
574 1223 Press release (PDF):
http://hugin.info/201/R/1882687/664273.pdf
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