SEC Company Response from NORDIC AMERICAN TANKERS Ltd (NAT) (CIK 0001000177) (NAT) — Mar 2, 2018
NORDIC AMERICAN TANKERS Ltd (NAT) (CIK 0001000177)
Date: March 2, 2018 · CIK: 0001000177 · Accession: 0000919574-18-002224
AI Filing Summary & Sentiment
File numbers found in text: 001-13944
Referenced dates: December 15, 2017, January 19, 2018
Letter
VIA EDGAR Office of Transportation and Leisure Division of Corporation Finance Nordic American Tankers Limited Form 20-F for Fiscal Year Ended December 31, 2016 Filed May 1, 2017 File No. 001-13944
Dear Ms. Raminpour:
We refer to the annual report on Form 20-F, filed by Nordic American Tankers Limited (the "Company") with the Securities and Exchange Commission (the "Commission") on May 1, 2017 (the "Annual Report"). By letter dated December 15, 2017 (the "Comment Letter"), the staff of the Commission (the "Staff") provided the Company with its comments to the Annual Report. We provided responses to the Comment Letter by letter dated January 19, 2018. Under comment number 6 of the Comment Letter, the Commission requested that the Company file with the Commission as an exhibit, the Company's revolving credit facility (the "Facility"). While the Company does deem the Facility a material contract, as an amended response to comment number 6, it also deems it a contract that ordinarily accompanies entities involved in the shipping industry and it is considered to have been made in the ordinary course of business. The shipping industry is a capital intensive industry with most vessels purchased using secured loan financing similar to the Facility. Furthermore, the Company is currently in the midst of a recapitalization and is planning to retire the Facility and enter into a new secured loan. In addition, the Company has disclosed material terms of the Facility in its Annual Report, interim reports on Form 6-K and prospectus supplements filed pursuant to Rule 424 of the Securities Act of 1933, as amended. Accordingly, the Company does not find that the Facility is an agreement that is required to be filed pursuant to the section entitled "Instructions as to Exhibits" of the Form 20-F. The Company advises the Staff that it does not plan to file the Facility with its annual report on Form 20-F for the year ended 2017.
**************
U.S. Securities and Exchange Commission
March 2, 2018
Page 2
Please feel free to contact the undersigned at (212) 574-1223, or Evan Preponis at (212) 574-1438, with any questions or comments.
Very truly yours,
SEWARD & KISSEL LLP
Show Raw Text
CORRESP 1 filename1.htm Seward & Kissel llp ONE BATTERY PARK PLAZA NEW YORK, NEW YORK 10004 TELEPHONE: (212) 574-1200 FACSIMILE: (212) 480-8421 WWW.SEWKIS.COM 901 K STREET, NW WASHINGTON, D.C. 20001 TELEPHONE: (202) 737-8833 FACSIMILE: (202) 737-5184 March 2, 2018 VIA EDGAR Melissa Raminpour, Branch Chief Office of Transportation and Leisure U.S. Securities and Exchange Commission Division of Corporation Finance 100 F Street, N.E. Washington, D.C. 20549 Re: Nordic American Tankers Limited Form 20-F for Fiscal Year Ended December 31, 2016 Filed May 1, 2017 File No. 001-13944 Dear Ms. Raminpour: We refer to the annual report on Form 20-F, filed by Nordic American Tankers Limited (the "Company") with the Securities and Exchange Commission (the "Commission") on May 1, 2017 (the "Annual Report"). By letter dated December 15, 2017 (the "Comment Letter"), the staff of the Commission (the "Staff") provided the Company with its comments to the Annual Report. We provided responses to the Comment Letter by letter dated January 19, 2018. Under comment number 6 of the Comment Letter, the Commission requested that the Company file with the Commission as an exhibit, the Company's revolving credit facility (the "Facility"). While the Company does deem the Facility a material contract, as an amended response to comment number 6, it also deems it a contract that ordinarily accompanies entities involved in the shipping industry and it is considered to have been made in the ordinary course of business. The shipping industry is a capital intensive industry with most vessels purchased using secured loan financing similar to the Facility. Furthermore, the Company is currently in the midst of a recapitalization and is planning to retire the Facility and enter into a new secured loan. In addition, the Company has disclosed material terms of the Facility in its Annual Report, interim reports on Form 6-K and prospectus supplements filed pursuant to Rule 424 of the Securities Act of 1933, as amended. Accordingly, the Company does not find that the Facility is an agreement that is required to be filed pursuant to the section entitled "Instructions as to Exhibits" of the Form 20-F. The Company advises the Staff that it does not plan to file the Facility with its annual report on Form 20-F for the year ended 2017. ************** U.S. Securities and Exchange Commission March 2, 2018 Page 2 Please feel free to contact the undersigned at (212) 574-1223, or Evan Preponis at (212) 574-1438, with any questions or comments. Very truly yours, SEWARD & KISSEL LLP /s/ Gary J. Wolfe By: Gary J. Wolfe cc: Jim Dunn Securities and Exchange Commission John Stickle Securities and Exchange Commission John D. Brown Securities and Exchange Commission Herbjørn Hansson Chief Executive Officer Nordic American Tankers Limited Bjørn Giaever Chief Financial Officer Nordic American Tankers Limited