FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of July 2006
NORDIC AMERICAN TANKER SHIPPING LIMITED
(Translation of registrant's name into English)
Thistle House
4 Burnaby Street
Hamilton HM 11
Bermuda
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F [X] Form 40-F[__]
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]
INFORMATION CONTAINED IN THIS FORM 6-K REPORT
Attached hereto as Exhibit 1 is a copy of the press release issued by
Nordic American Tanker Shipping Limited (the "Company") on July 17, 2006,
announcing that it has agreed to buy its tenth ship.
[GRAPHIC OMITTED]
Exhibit 1
Nordic American Tanker Shipping Ltd. (NAT) - (NYSE: NAT) agrees to buy its tenth
ship
Hamilton, Bermuda, July 17, 2006
Nordic American Tanker Shipping Ltd. (the "Company" or "NAT") today announced
that the Company has agreed to acquire its tenth Suezmax vessel, a 150,000 dwt
double-hull tanker built in a first class Far Eastern shipyard in 2003, for a
purchase price of $80.9 million. The vessel is expected to be delivered from the
seller no later than November 2006.
This acquisition represents a milestone for the Company, increasing its total
tonnage above 1.5 million dwt and making it one of the largest owners of double
hull Suezmax tonnage in the world. The acquisition of the new vessel will make
our fleet one of the youngest Suezmax fleets in the industry. The new vessel
will be operated in the spot market or on spot market-related charters, like
eight of our current nine vessels.
Herbjorn Hansson, the Company's Chairman and Chief Executive Officer, stated:
"We are confident that this, our tenth vessel, will be accretive both to
dividends and earnings per share. Therefore, dividends and earnings per share
can be expected to be higher than had this vessel not been acquired. NAT is
committed to continuing to build upon its unique and successful operating model
in which the elements of full dividend payout and accretive growth are central.
We may well make further acquisitions later this year."
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.
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: nat@scandicamerican.com
-----------------------
Web-site: www.nat.bm
Rolf Amundsen
Investor Relations
Nordic American Tanker Shipping Ltd.
Tel: +1 800 601 9079 or + 47 908 26 906
Herbjorn Hansson
Chairman & CEO
Nordic American Tanker Shipping Ltd.
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: July 17, 2006 By: /s/ Herbjorn Hansson
---------------------------
Herbjorn Hansson
Chairman, Chief Executive Officer
and President
SK 01318 0002 686993
7/17/06