Nordic American Tankers Ltd (NYSE: NAT) – NAT orders two -2- Suezmax newbuildings in South Korea
September 23, 2020
Dear Shareholders and Investors,
We wish to announce that NAT has entered into two -2- suezmax newbuilding contracts in South Korea, increasing our fleet of suezmaxes to 25 units.
The combination of specifications, quality of yard, price, payment terms and deliveries make this an attractive investment for NAT and is consistent with our strategy to expand and renew our fleet. The scheduled deliveries of the ships are in the first half of 2022.
Through the years we have enjoyed an excellent relationship with the shipbuilding sector in South Korea, and we are happy to conclude further suezmax newbuilding contracts with Samsung Heavy Industries Ltd.
NAT will consider various financing alternatives prior to deliveries.
The payment terms of the newbuildings are 10/10/10/10 with 60% of the building price on deliveries. The two first instalments of the vessels have already been funded.
The main focus of NAT is always to pay quarterly dividends, which we have done every single quarter since the autumn of 1997. In total nearly $ 50 per share has been paid.
Founder, Chairman & CEO
Nordic American Tankers Ltd. www.nat.bm
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 worldwide 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.
NAT is a Bermuda based company.
Gary J. Wolfe
Seward & Kissel LLP
New York, USA
Tel: +1 212 574 1223
Bjørn Giæver, CFO
Nordic American Tankers Limited
Tel: +1 888 755 8391 or +47 91 35 00 91
Herbjørn Hansson, Chairman & CEO
Nordic American Tankers Limited
Tel: +1 866 805 9504 or +47 90 14 62 91
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Statkraft AS: Offentliggjøring av resultater for tredje kvartal 202026.10.2020 11:25:36 CET | Pressemelding
Statkraft offentliggjør resultater for tredje kvartal 2020 torsdag 29. oktober 2020 klokken 08.00. Materialet vil være tilgjengelig på Statkrafts internettsider www.statkraft.no/ir og på Oslo Børs www.newsweb.no. Direkte webcast Kl. 09.00: Statkraft presenterer resultatene på webcast som overføres direkte på www.statkraft.no. Presentasjonen holdes på engelsk. Kontaktperson: Arild Ratikainen, Investor Contact, tlf.: +47 971 74 132, e-post: email@example.com Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12
Nokia wins 5G deal with Finnish Shared Network (SYV)26.10.2020 10:00:00 CET | Press release
Press Release Nokia wins 5G deal with Finnish Shared Network (SYV) Nokia has been selected as a supplier for SYV’s radio access network (RAN) equipment and managed services The deal includes the rollout of 5G RAN equipment and modernization of existing 2G, 3G and 4G sites across northern and eastern FinlandThree-year rollout will begin in early 2021 and is planned to be completed by the end of 2023. 26 October 2020 Espoo, Finland – Nokia today announced it has been selected by Finnish Shared Network Ltd (SYV) – a joint operation by DNA Oyj and Telia Finland Oyj – as a supplier of 5G radio network equipment including deployment and managed services. The modernized network will enable SYV to provide advanced 5G services in a cost-efficient manner across northern and eastern parts of Finland. The deal will see Nokia replace SYV’s current radio access network equipment, offer digital deployment for faster time to market, and comprehensive managed services over the course of the three-year
ZetaDisplay bjuder in till presentation av delårsrapporten26.10.2020 09:30:00 CET | Pressemelding
Malmö - ZetaDisplay AB (publ) (Nasdaq Stockholm: ZETA) bjuder in till en audiocast i samband med publiceringen av delårsrapporten januari – september 2020. Rapporten publiceras den 4 november 2020 klockan 08:00 och presentationen sker via en audiocast kl 10:00 samma dag. ZetaDisplay bjuder in till deltagandet via länken https://tv.streamfabriken.com/zetadisplay-q3-2020. Presentationen kommer att hållas på engelska av VD Per Mandorf och CFO Jacob Stjernfält. Malmö, 26 oktober 2020 För vidare information, vänligen kontakta: Per Mandorf, Koncernchef & VD Telefon +46 704-25 82 34 Emailper.firstname.lastname@example.org Jacob Stjernfält, CFO Telefon +46 76-8754177 E-mailhttps://www.globenewswire.com/Tracker?data=2TbrJc5xeUaeYuQ7qmVdT6yN6qSycP7wb2-N0uA6UOP0Z3tyeuclepz4HwpDqG2JOEx7lkdw_ISQhfktITLhrQyLHEH2X0FGmGTCZwVXirDHC5pQld6HV9Y69KblARg_ jacob,email@example.com Daniel Oelker, CCO Telefon +46 708-45 80 54 Efirstname.lastname@example.org Om ZetaDisplay ZetaDisplay driver den digitala t
ZetaDisplay invites to presentation of the interim report26.10.2020 09:30:00 CET | Press release
Malmö - ZetaDisplay AB (publ) (Nasdaq Stockholm: ZETA) invites to an audiocast in connection with the publication of the interim report January – September 2020. The report will be published on 4 November at 08:00 CET and the audiocast is scheduled for 10:00am p CET on the same day. ZetaDisplay invites you to participate via the link https://tv.streamfabriken.com/zetadisplay-q3-2020. The presentation will be held in English by CEO Per Mandorf and CFO Jacob Stjernfält. Malmö, 26 October 2020 For questions, please contact: Per Mandorf, President & CEO Phone +46 704-25 82 34 Emailper.email@example.com Jacob Stjernfält, CFO Phone +46 76-8754177 E-mailhttps://www.globenewswire.com/Tracker?data=2TbrJc5xeUaeYuQ7qmVdT2nvGVC4uKqwAJJllnW0oyRHCLfKEf8ER7rFzUA2Cx9z24UdfZqE4jkI3PZVwLggtJT2ybhHAsjYoWwpDhzBSa331DVjpMhEBjIgDOYAfDYp firstname.lastname@example.org Daniel Oelker, CCO Phone +46 708-45 80 54 Eemail@example.com About ZetaDisplay ZetaDisplay acts at the heart of digit
PETRONAS awards MultiClient programs in Sarawak Basin to seismic consortium26.10.2020 08:50:07 CET | Press release
OSLO, NORWAY, October 26, 2020: The seismic consortium comprising PGS, TGS and WesternGeco have been awarded a multi-year contract by PETRONAS through competitive bidding to acquire and process up to 105,000 square kilometers of multi-sensor MultiClient 3D data in the Sarawak Basin, offshore Malaysia. This contract award follows an ongoing campaign by the consortium in the Sabah offshore region of Malaysia, awarded in 2016, in which over 50,000 square kilometers of high-quality 3D seismic data have been acquired and licensed to the oil and gas industry to support Malaysia license round and exploration activity. The Sarawak award will enable the consortium to position itself in Malaysian seismic exploration and allow for a multi-phase program to promote exploration efforts in the prolific Sarawak East Natuna Basin (Deepwater North Luconia and West Luconia Province). “We are very pleased to have received this good news from PETRONAS through Malaysia Petroleum Management,” said Nathan Oli
PETRONAS Awards Multi-Client Programs in Sarawak Basin to Seismic Consortium26.10.2020 07:50:00 CET | Press release
OSLO, Norway (26 October 2020) – The seismic consortium comprising PGS, TGS and WesternGeco has been awarded a multi-year contract by PETRONAS through competitive bidding to acquire and process up to 105,000 square kilometers of multi-sensor multi-client 3D data in the Sarawak Basin, offshore Malaysia. This contract award follows an ongoing campaign by the consortium in the Sabah offshore region of Malaysia, awarded in 2016, in which over 50,000 square kilometers of high-quality 3D seismic data have been acquired and licensed to the oil and gas industry to support Malaysia license round and exploration activity. The Sarawak award will enable the consortium to position itself in Malaysian seismic exploration and allow for a multi-phase program to promote exploration efforts in the prolific Sarawak East Natuna Basin (Deepwater North Luconia and West Luconia Province). “We are very pleased to have received this good news from PETRONAS through Malaysia Petroleum Management,” said Nathan Ol