Free Writing Prospectus Filed pursuant to Rule 433
Dated July 19, 2007 Registration Statement No. 333-137598
Set forth herein is a copy of the press release issued by Nordic American Tanker
Shipping Limited on July 19, 2007.
Nordic American Tanker Shipping Ltd. (NAT)-(NYSE:NAT)
Public Offering.
Hamilton, Bermuda, July 19, 2007
Nordic American Tanker Shipping Ltd. (the "Company") today announced the pricing
of an underwritten public offering of 3,000,000 common shares. On July 19, 2007,
the closing price of the Company's common shares on the New York Stock Exchange
was $42.85 per share. The common shares are being offered pursuant to the
Company's effective shelf registration statement. Bear, Stearns & Co. Inc. and
Morgan Stanley are acting as joint bookrunning managers. The Company expects to
close the sale of the common shares on July 25, 2007, subject to customary
closing conditions. The Company has granted the underwriters a 30-day option to
purchase up to 450,000 additional shares to cover over-allotments.
The net proceeds of the offering are expected to be used to repay indebtedness
under the Company's revolving credit facility and to prepare the Company for
further expansion.
Today the Company also announced that it expects that its dividend in respect of
the second quarter of 2007 will be in the region of $1.17 per share.
The offering is being made only by means of a prospectus and related prospectus
supplement. A prospectus supplement related to the offering will be filed with
the Securities and Exchange Commission. When available, copies of the prospectus
and prospectus supplement relating to the offering may be obtained from the
offices of Bear, Stearns & Co. Inc. at 383 Madison Avenue, New York, New York
10179, Attention: Prospectus Department, or by telephone to (866) 803-9204 and
Morgan Stanley at 180 Varick Street, Second Floor, New York, New York 10014,
Attention: Prospectus Department or by telephone to (212) 761-6775.
About the Company
The Company is an international tanker company that owns twelve modern
double-hull Suezmax tankers.
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:
Scandic American Shipping Ltd
Manager for:
Nordic American Tanker Shipping Limited
P.O Box 56, 3201 Sandefjord, Norway
Tel: + 47 33 42 73 00 E-mail: nat@scandicamerican.com
Rolf Amundsen, Investor Relations
Nordic American Tanker Shipping Limited
Tel: +1 800 601 9079 or + 47 908 26 906
Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223
Herbjorn Hansson, Chairman and Chief Executive Officer
Nordic American Tanker Shipping Limited
Tel: +1 866 805 9504 or + 47 901 46 291
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Nordic American Tanker Shipping Limited has filed a registration statement
(including a prospectus) with the SEC for the offering to which this
communication relates. Before you invest, you should read the prospectus in that
registration statement and other documents the Company has filed with the SEC
for more complete information about the Company and this offering. You may get
these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov.
Alternatively, the Company, any underwriter or any dealer participating in the
offering will arrange to send you the prospectus if you request it by calling
toll-free 1-866- 803-9204. You may also request a copy of these documents by
sending an e-mail to ir@nat.bm or by accessing the Company's website at
www.nat.bm and clicking on "Investor Relations." [GRAPHIC OMITTED]
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