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Nordic American Offshore (NYSE:NAO) – strengthened organization.

HAMILTON, Bermuda, Aug. 10, 2016 (GLOBE NEWSWIRE) --

We are pleased to inform you that Carl Fredrik Grosland (36) has agreed to join our companies as Vice President, working on analyses, projects and business development. Reporting to me in a staff position, he will also work closely with others both in NAO and NAT (Nordic American Tankers Limited).

He has 12 years of international banking experience as an analyst and broker, focusing mainly on the energy/offshore and the shipping sector. Working from out of New York at the time, he has played a key role in a number of major equity and debt transactions. For several years he was a partner and board member of the investment banking firm of Pareto Securities Inc. (New York).

Going forward, he will focus on the US, the Far East and Europe with base in our Oslo office. Working from out of Oslo, he has recently been Vice President at Clarksons Platou Securities (head office in London), one of the largest international offshore/energy and shipbroking firms - also specializing in investment banking in these sectors. He has a BA (hons) in Business Management and German from the European Business School (EBS) in London.

Commented Carl Fredrik Grosland: «I am very proud and honored to get the opportunity to work for some of the smartest people in the industry. Nordic American has a unique business model and the best track record in both the industry and capital markets. I look forward to learning a lot. I shall work hard to assist in developing the companies further together with highly professional teams».

With Carl Fredrik Grosland, our competence organization will be further strengthened.

Herbjørn Hansson
Nordic American Offshore Ltd.
Chairman

Herbjørn Hansson
Nordic American Tankers Limited
Chairman & CEO

Copy:
Marianne LieExecutive Vice-Chair, NAO
Tor-Øyvind BjørkliManaging Director, NAO
Turid M. SørensenCFO & EVP, NAT
Erik TomstadHead of chartering, NAT

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.

Contacts:
Herbjørn Hansson, Chairman
Nordic American Offshore Ltd.
Tel: +1 866 805 9504 or +47 90 14 62 91

Web-site: www.nat.bm

Press release PDF: http://hugin.info/159489/R/2034253/757570.pdf

Source:Nordic American Offshore Ltd