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Free
Writing Prospectus
Dated
January 7, 2009
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Filed
pursuant to Rule 433
Registration Statement
No. 333-137598
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Set forth
herein is a copy of the press release issued by Nordic American Tanker Shipping
Limited on January 7, 2009.
Nordic
American Tanker Shipping Ltd. (NAT)-(NYSE:NAT) Announces Public
Offering.
Hamilton,
Bermuda, January 7, 2009
In order
to fund further acquisitions under planning, Nordic American Tanker Shipping
Ltd. (the “Company”) today announced an underwritten public offering of
3,000,000 common shares. The common shares are being offered pursuant
to the Company’s effective shelf registration statement. Morgan
Stanley is acting as the bookrunning manager for the offering. The
Company expects to close the sale of the common shares on January 13, 2009,
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
common shares purchased by Morgan Stanley are being offered for resale from time
to time in negotiated transactions or otherwise, at market prices on the
New York Stock Exchange prevailing at the time of sale, at prices related to
such prevailing market prices or otherwise.
The
Chairman & CEO of the Company, Herbjorn Hansson commented:
“In our
view, the present markets offer attractive opportunities to increase the
Company’s fleet further. Because of the financial turmoil internationally, ship
values have been reduced. We believe that our past acquisitions have been
accretive, that is, after acquisitions our dividend and earnings per share have
been higher than under a scenario where such acquisitions had not taken
place. We announced an agreement to buy a double hull Suezmax tanker
earlier this week, which is expected to be financed with funds that were
available to the Company before this offering. Going forward, we
expect this offering to strengthen the Company`s equity base and increase the
Company’s capacity to make further acquisitions. So far in 2009 the spot charter
contracts which have been concluded for our Suezmax vessels, have on average
been above the average level achieved for the 4th quarter
of 2008. As a matter of policy the Company does not predict future spot
rates.”
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 Morgan Stanley at 180 Varick Street, Second Floor, New York, New York
10014, Attention: Prospectus Department or by email at
prospectus@morganstanley.com.
About
the Company
The
Company is an international tanker company that owns 12 modern double-hull
Suezmax tankers and has agreed to acquire an additional three double-hull
Suezmax tankers, of which two are newbuilding Suezmax tankers and one is an
existing Suezmax tanker that the Company has agreed to acquire.
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
Herbjørn
Hansson, Chairman and Chief Executive Officer
Nordic
American Tanker Shipping Limited
Tel:
+1 866 805 9504 or + 47 901 46 291
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, the preliminary
prospectus supplement relating to this offering 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.”