NORDIC AMERICAN SHIPPING

EXCHANGE:
Oslo

SHARE PRICE (DEC. 31, 1996):
NOK 55.00

1996 TRADING RANGE (THROUGH NOV. 26):
NOK 41 – 52

MARKET CAP. (AS OF SEPT. 30, 1996):
US$55.96 million

OVERVIEW
• Nordic American Shipping (NAS), based in Norway and established in 1989, is primarily involved in the operation and development of shuttle tankers and floating offshore storage vessels in the North Sea.
• In September 1996, the company merged with the tanker operations of Andreas Ugland & Sons. As a result of the merger, NAS is well positioned in the rapidly expanding shuttle tanker market.
• Through its 13% stake in Nordic American Tanker Shipping, a Bermuda-registered company established by NAS in 1995, and ownership in one aframax tanker and one panamax tanker, the company is also involved in traditional tanker operations.
• The company’s administrative and commercial operations are run from the head office. Technical operations are handled by Ugland Interocean Management.

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