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 HanssonNordic American Tankers LimitedChairman &
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 & CEONordic
American Tankers LimitedTel: +1 866 805 9504 or +47 90 14
62 91
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/57594261-72ab-488d-9145-9d1e55ee4d2f
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