Nordic American Offshore Ltd. (NYSE:NAO) - Platform Supply Vessel (PSV) contracts with major oil company.
(Thomson Reuters ONE) -
Hamilton, Bermuda, January 30, 2015
Nordic American Offshore Ltd. (NAO) has entered into two new contracts with a
major oil company for 4 months firm periods with further options for each
vessel.
This will secure firm employment for two of our vessels from February/March this
year. In the meantime they are operated in the spot market.
We are pleased to observe the attractiveness of the NAO vessels, which all are
operated in the North Sea.
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 PSV
market, as a result of changes in the general market conditions of the oil and
natural gas industry which influence charter hire rates and vessel values,
demand in platform supply vessels, our operating expenses, including bunker
prices, dry docking and insurance costs, governmental rules and regulations or
actions taken by regulatory authorities as well as potential liability from
pending or future litigation, general domestic and international political
conditions, potential disruption of shipping routes due to accidents or
political events, the availability of financing and refinancing, vessel
breakdowns and instances of off-hire and other important factors described from
time to time in the reports filed by the Company with the Securities and
Exchange Commission.
For questions related to this message, please contact:
Jacob Ellefsen, Manager, Investor Relations and Research
Nordic American Offshore Ltd.
Tel: + 33 678 631 959 or + 377 93 25 89 07
Tor-Øyvind Bjørkli, Chief Executive Officer
Nordic American Offshore Ltd.
Tel: +47 90 62 70 14 or +47 21 99 24 81
Gary J. Wolfe
Seward & Kissel LLP, New York, USA
Tel: +1 212 574 1223
Web-site: www.nao.bm
Press release PDF:
http://hugin.info/159489/R/1890663/669428.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nordic American Offshore Ltd via GlobeNewswire
[HUG#1890663]
Datum: 30.01.2015 - 12:57 Uhr
Sprache: Deutsch
News-ID 368141
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