Nordic American Tankers Ltd (NYSE: NAT) – Ships makes the world go

Rhea-AI Summary

Nordic American Tankers Ltd. emphasizes the significance of seagoing transportation, stating that 90% of global trade relies on shipping. A recent video by BIMCO, a shipping association based in Denmark, underscores this point. The company also includes a cautionary statement regarding forward-looking statements, highlighting the uncertainties in their future performance and market conditions. The press release, dated January 19, 2021, is aimed at shareholders and investors, maintaining an informative tone without disclosing specific financial metrics or business developments.

Positive

• Emphasizes the critical role of shipping in global trade, potentially enhancing investor confidence.

Negative

• No specific financial performance metrics or business developments disclosed, leaving investors without key insights.

January 19, 2021

Dear Shareholders and Investors, 

Information provided by the New York listed Nordic American Tankers Ltd.

The below 2 minutes video by BIMCO is illustrating the importance of the seagoing transportation business. 90% of the world trade is carried by ships.

BIMCO, an assosiation of shipping companies, is based in Copenhagen, Denmark.

https://www.bimco.org/ShipsMakeTheWorldGo

Sincerely,

Herbjorn Hansson
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.

Contacts:       

Gary J. Wolfe
Seward & Kissel LLP
New York, USA
Tel: +1 212 574 1223

Bjørn Giæver, CFO                                                             
Nordic American Tankers Ltd                                             
Tel: +1 888 755 8391 or +47 91 35 00 91                                 

Herbjørn Hansson, Chairman & CEO
Nordic American Tankers Ltd
Tel: +1 866 805 9504 or +47 90 14 62 91       

FAQ

What does Nordic American Tankers Ltd. emphasize in their January 2021 press release?

The company highlights the importance of seagoing transportation for global trade, stating that 90% of trade is carried by ships.

How does Nordic American Tankers Ltd. view forward-looking statements?

The company includes a cautionary statement about forward-looking statements, noting the inherent uncertainties in predictions about future performance.

What is BIMCO and its relevance to Nordic American Tankers Ltd.?

BIMCO is an association of shipping companies based in Denmark, which produced a video illustrating the importance of seagoing transportation emphasized by Nordic American Tankers Ltd.

What date was the press release from Nordic American Tankers Ltd. issued?

The press release was issued on January 19, 2021.

What does the press release from Nordic American Tankers Ltd. lack?

It lacks specific financial metrics or business developments, which may leave investors seeking more detailed insights.