Hamilton, Bermuda, February 21, 2017
A NOTE ABOUT RESPONSIBILITIES
FROM HERBJORN HANSSON
Headquartered in Bermuda, NAT is an international
crude oil tanker company founded and run by the undersigned as
Chairman and CEO. Listed on NYSE, we have offices and
representatives in several other countries as well.
Our office in Sandefjord, Norway, deals with
corporate management, including communication with the NAT board,
IR matters, quality assurance, cost control, accounting,
macroeconomics and any issues related to US capital markets.
Turid M. Sørensen (Ms) is the CFO & NAT
Executive Vice President, focusing on the cost side of the
business and on the responsibilities of the Sandefjord office as
outlined above.
Erik Tomstad is head of NAT chartering, focusing
on employment of our 33 vessel suezmax fleet. He is NAT Executive Vice President - Chartering.
Together with colleagues, he works out of our office in Oslo.
Erik is responsible for the details of day-to-day chartering, and
along with myself deals with the sale and purchase of vessels.
Some special matters are handled directly by me.
Risk management and strategy are important parts of my work, as are
geopolitical matters involving countries such as Sudan, Iran, Libya
and Russia. Also under my purview are safety and
environmental issues and relationships with customers, including
major oil companies such as ExxonMobil, Shell, BP, Indian
interests, Chevron, Unipec and others.
Both Turid and Erik report to me and are on the
same organizational line. My colleagues on the NAT board and I are
very pleased with the quality of their work and their respective
groups.
The competence of NAT is further strengthened by
our four part time advisors who have a wealth of managerial
expertise in the field of international business above all related
to oil, energy, economics and maritime affairs.
Herbjørn Hansson
Nordic American Tankers Limited
Chairman & CEO
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:
Herbjørn Hansson, Chairman & CEO
Nordic American Tankers Limited
Tel: +1 866 805 9504 or +47 90 14 62 91
Press release PDF
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions 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 Tankers Limited via
Globenewswire
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