Business: Nordic American Tankers Ltd was founded in 1995 under the laws of the Islands of Bermuda. The Company owns and operates double hull crude oil tankers. They are a international tanker company that owns modern double-hull Suezmax tankers, including four newbuilding vessels, averaging approximately 157,000 dwt each. They currently operates vessels in the spot market or on spot market-related charters pursuant to cooperative arrangements with third parties. They operate in markets that are highly competitive and based mainly on supply and demand. They competes for charters on the basis of price, vessel location, size, age and condition of the vessel, as well as on their reputation as an operator.