Nordic American Tanker Shipping Limited (NYSE:NAT) Provides Update on Delayed Delivery of Suezmax Newbuilding. Fleet Expansion Program Continues.

NAT vessel

Hamilton, Bermuda, July 30, 2010.

Nordic American Tanker Shipping Limited (NYSE:NAT), today announced that the delivery of its newbuilding suezmax – the first of two scheduled for this year – continues to be delayed. The Company has mentioned this in previous quarterly reports and has advised the seller, a company in the Fred Olsen group, that we will not take delivery of the vessel until it is completed in accordance with the contract.

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