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  September 5, 2001
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Home > Company Index > Transportation > Shipping > Nordic American Tanker Shipping Limited

Nordic American Tanker Shipping Limited
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 PROFILE
Even giants sometimes need a little help from their friends, and when BP needed three $57 million oil tankers, Nordic American Tanker Shipping was born. The company, which charters vessels exclusively for BP, raised money to purchase three double-hulled Suezmax tankers built by Samsung Heavy Industries; the vessels were then leased to BP Shipping under long-term "hell or high water" bareboat charters, which will be up for renewal in 2004. Ugland Nordic Shipping manages and advises Nordic American Tanker Shipping and owns about 19% of the company.

 COMPETITION
Overseas Shipholding Group, Inc. (OSG)
Seabulk International, Inc. (SBLK)
Teekay Shipping Corporation (TK)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 36.60
1-Yr. Sales Growth: 147.3%

 KEY PEOPLE
• Herbjorn Hansson
    CEO
• Niels E. Feilberg
    CFO

 CONTACT INFO
Cedar House, 41 Cedar Ave.
Hamilton HM 12, Bermuda
Phone: 1-809-295-2244
Fax: 1-809-292-8666
Online: Web Site

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