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2016-02-10

Nordic American Tankers Limited: Nordic American Tankers Limited (NYSE:NAT) - A special company having paid dividend for 74 consecutive quarters. Strong result

Hamilton, Bermuda, February 10, 2016

Dear Shareholder,

Earlier this week Nordic American Tankers Limited (NAT) announced results for
the fourth quarter 2015 and the full year 2015, showing the strongest full
year cash flow in the company's history. For 2015 we declared dividends
totaling $1.59 per share. Crude oil is plentiful, leading to low oil prices
and high demand for tankers. We will repeat what has been said before - low
oil prices are a boon for our business.

There are several points worth noting. First, we would like to emphasize that
we are not in the energy business. The impact of lower oil prices on oil
companies and oil service companies has nothing to do with the transportation
of oil. A surplus of oil must be transported or stored, which is beneficial
to tanker owners.

Secondly, there are big differences in the transportation market between dry
bulk, container shipping, liquefied natural gas (LNG), and the tanker
business. It is simply wrong to bundle all of these groups together as one.

We have always refrained from commenting on stock prices. In our view
investors must ask themselves one key question:

Who is benefitting in today's market? In our conversations with market
participants, we are left with an impression that this question is not asked
often enough. One answer to this question can be found in our results. The
oil surplus has led to record tanker demand.

Some commentators make statements about the age of our fleet. In many cases we
hear things that demonstrate a lack of knowledge and experience about our
industry. The reason we share our vetting statistics (inspection of our
vessels by clients) in our quarterly reports is to underline the excellent
condition of our vessels. Technically, a vessel of 15 years is very much the
same as a five year old vessel.

Analysts, bloggers and others are not our customers - the oil companies are.
They are highly satisfied with the service we provide. We do not see value in
simply having the youngest fleet, since we are in the business of providing
returns and yield to our shareholders and providing safe transportation to
our customers.

We have remained committed to strong dividend payments and our balance sheet
allows us to keep paying dividends in good times and in bad. NAT has a
business model that has been proven to generate significant cash flows, even
in poor tanker markets. We have only one type of ship in our fleet, the
Suezmaxes, which is another competitive advantage of NAT.

As the largest shareholders in NAT, my family and I are very pleased with how
the company is performing, and have faith in the fundamentals in the tanker
market going forward. Stock markets are subject to fluctuations driven by
speculation, fear and greed. Please look at our results, and consider the
dividend yield at today's prices.

I remain in the same boat as you, and we will continue sailing the same course
of operational excellence, balance sheet strength and a commitment to
maximizing total return, and having an excellent relationship with our
customers.

An investor interested in the tanker business, should consider owning shares
in Nordic American.

Please feel free to get in touch with any comments or questions
atherbjorn.hansson@scandicamerican.com

I wish you and your families all the best for 2016.

Kind regards,

Herbjorn Hansson
Chairman&CEO
Nordic American Tankers Limited

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
:

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

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

Web-site: www.nat.bm

Press release (PDF)
http://hugin.info/201/R/1985024/727889.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

HUG#1985024

Författare WKR

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