<SEC-DOCUMENT>0000919574-21-007265.txt : 20211129
<SEC-HEADER>0000919574-21-007265.hdr.sgml : 20211129
<ACCEPTANCE-DATETIME>20211129160559
ACCESSION NUMBER:		0000919574-21-007265
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20211130
FILED AS OF DATE:		20211129
DATE AS OF CHANGE:		20211129

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NORDIC AMERICAN TANKERS Ltd
		CENTRAL INDEX KEY:			0001000177
		STANDARD INDUSTRIAL CLASSIFICATION:	WATER TRANSPORTATION [4400]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13944
		FILM NUMBER:		211456191

	BUSINESS ADDRESS:	
		STREET 1:		LOM BUILDING
		STREET 2:		27 REID STREET
		CITY:			HAMILTON HM 11
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		(441) 292-7202

	MAIL ADDRESS:	
		STREET 1:		LOM BUILDING
		STREET 2:		27 REID STREET
		CITY:			HAMILTON HM 11
		STATE:			D0
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NORDIC AMERICAN TANKER SHIPPING LTD
		DATE OF NAME CHANGE:	19950906
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d9029300_6-k.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Seward & Kissel
         Document created using EDGARfilings PROfile 7.7.0.0
         Copyright 1995 - 2021 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <div style="text-align: center; margin-top: 3pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;"> UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
    <div>
      <div style="text-align: center; margin-bottom: 1.5pt; font-family: 'Times New Roman', serif; font-size: 12pt;">&#160;</div>
      <div>
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <div style="text-align: center; margin-top: 9pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
    <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">&#160;</div>
    <div>
      <div style="text-align: center; margin-bottom: 1.5pt; font-family: 'Times New Roman', serif; font-size: 12pt;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <div style="text-align: center; margin-top: 9pt; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">PURSUANT TO RULE 13A-16 OR 15D-16 OF</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="text-align: center; margin-top: 9pt; font-family: 'Times New Roman', serif; font-weight: bold;">For the month of November 2021</div>
    <div style="text-align: center; margin-top: 9pt; font-family: 'Times New Roman', serif; font-weight: bold;">Commission File Number: 001-13944</div>
    <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">&#160;</div>
    <div>
      <div style="text-align: center; margin-bottom: 1.5pt; font-family: 'Times New Roman', serif; font-size: 12pt;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <div style="text-align: center; margin-top: 9pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 7.5pt; font-weight: bold;">(Translation of registrant&#8217;s name into English)</div>
    <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">&#160;</div>
    <div>
      <div style="text-align: center; margin-bottom: 1.5pt; font-family: 'Times New Roman', serif; font-size: 12pt;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;"></div>
    </div>
    <div style="text-align: center; margin-top: 9pt; font-family: 'Times New Roman', serif; font-weight: bold;">LOM Building, 27 Reid Street, Hamilton, HM 11, Bermuda</div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 7.5pt; font-weight: bold;">(Address of principal executive office)</div>
    <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">&#160;</div>
    <div>
      <div style="text-align: center; margin-bottom: 1.5pt; font-family: 'Times New Roman', serif; font-size: 12pt;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; margin-left: auto; margin-right: auto; border: none;">&#160;</div>
    </div>
    <div style="text-align: justify; margin-top: 9pt; font-family: 'Times New Roman', serif;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div style="text-align: center; margin-top: 9pt; font-family: 'Times New Roman', serif;">Form 20-F <font style="font-family: 'Segoe UI Symbol', sans-serif; color: #000000;">&#9746;</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Form 40-F&#160;<font style="font-family: 'Segoe UI Symbol', sans-serif; color: #000000;">&#9744;</font></div>
    <div style="text-align: justify; margin-top: 9pt; font-family: 'Times New Roman', serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <font style="font-family: 'Segoe UI Symbol', sans-serif; color: #000000;">&#9744;</font></div>
    <div style="text-align: justify; margin-top: 9pt; font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b) (1)&#160;only permits the submission in paper of a Form 6-K if submitted solely to provide an
      attached annual report to security holders.</div>
    <div style="text-align: justify; margin-top: 9pt; font-family: 'Times New Roman', serif;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <font style="font-family: 'Segoe UI Symbol', sans-serif; color: #000000;">&#9744;</font>.</div>
    <div style="text-align: justify; margin-top: 9pt; font-family: 'Times New Roman', serif;"><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or
      other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant&#8217;s &#8220;home country&#8221;), or under the rules of
      the home country exchange on which the registrant&#8217;s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant&#8217;s security holders, and, if discussing a
      material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.</div>
    <div style="font-family: 'Times New Roman', serif; font-size: 6pt;">&#160;</div>
    <div>
      <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
    </div>
    <div> <br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>
    <div><br>
    </div>
    <div style="color: #000000; font-family: 'Times New Roman', serif;">Attached as Exhibit 1 is a press release of Nordic American Tankers Limited (the "Company") dated November 24, 2021, announcing the Company&#8217;s dividend and earnings report for the third
      quarter of 2021.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-family: 'Times New Roman', serif;">The information contained in this Report on Form 6-K is hereby incorporated by reference into the Company&#8217;s Registration Statement on Form F-3 (File No. 333-228603), filed with the
      U.S. Securities and Exchange Commission with an effective date of February 20, 2019.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; margin-top: 9pt; font-family: 'Times New Roman', serif; font-weight: bold;">SIGNATURES</div>
    <div style="margin-top: 9pt; font-family: 'Times New Roman', serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
      authorized.</div>
    <div style="margin-top: 9pt;"><br>
    </div>
    <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z9f61877248b84458a4dcb8276d2b3869">

        <tr>
          <td style="width: 49.98%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', serif; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
          </td>
          <td colspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.98%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="text-align: center; font-family: 'Times New Roman', serif;">(registrant)</div>
          </td>
          <td colspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.98%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.98%; vertical-align: top; padding-bottom: 2px;">
            <div style="font-family: 'Times New Roman', serif;">Dated:&#160;Novenber 29, 2021</div>
          </td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="font-family: 'Times New Roman', serif;">By:</div>
          </td>
          <td style="width: 30%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman', serif;">/S/ HERBJ&#216;RN HANSSON</div>
          </td>
          <td colspan="1" style="width: 15%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.98%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">Herbj&#248;rn Hansson</div>
          </td>
          <td colspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.98%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">
            <div style="font-family: 'Times New Roman', serif; font-weight: bold;">Chairman, President, and Chief Executive Officer</div>
          </td>
          <td colspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.98%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.98%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 49.98%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 30%; vertical-align: top;">&#160;</td>
          <td colspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <!--PROfilePageNumberReset%Num%1%%%-->
    <div><br>
    </div>
    <div style="text-align: right; font-family: 'Times New Roman', serif; font-weight: bold;">Exhibit 1</div>
    <div style="margin-bottom: 10pt;"><br>
    </div>
    <div style="font-family: 'Times New Roman', serif;">
      <div style="text-align: right; margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;"><br>
      </div>
      <div style="margin-bottom: 36pt;"><img src="image0.jpg"></div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">Nordic American Tankers Limited (NYSE: NAT) &#8211; Third quarter 2021.<br>
        Third quarter touched the bottom. The tide has now turned.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">Wednesday, November 24, 2021</div>
      <div style="margin-bottom: 24pt; font-size: 11pt; font-variant: small-caps;"><font style="font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;">highlights:</font><font style="font-size: 10pt;">&#160;</font></div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z4eb3af2540524b13bf5dedbe71b4484c">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">1</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">There is so much confusing day-to-day noise in the markets about oil and gas prices that we think many investors have decided to steer clear of
                the tanker sector entirely. All markets are volatile, and as history has shown volatility can be our friend when rates rise suddenly and the company&#8217;s stock price benefits. We firmly believe that successful investors buy quality companies
                and profit handsomely when the tide turns.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zcb0ffebc2a2e484391ef09646e07106b">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">2</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">A main feature of the NAT strategy is that NAT has Suezmaxes only. No other public company has this feature. Asset values continue to rise.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z4432a1c75d634e06b94781018d4ca72b">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">3</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">The International Energy Agency in Paris confirms that global oil demand is nearing pre-pandemic levels of early 2020 and more importantly, oil
                supply is now rising fast. This is good news for the NAT&#160; suezmaxes and provide confidence that a turn-around for the NAT fleet is getting closer by the day.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zc34a541ee908484fa36da2a161b8c78d">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">4</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">During recent months we have secured term contracts with prompt delivery for six months or longer at rates above $20,000/day or more for four of
                our vessels. The time charter rates for these ships were substantially higher than the spot market at the time and still are. These four contracts work as a hedge. Our fleet of 24 ships has significant upside.</div>
            </td>
          </tr>

      </table>
      <div style="margin-left: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">We undertook planned maintenance of three ships during 3Q 2021, withdrawing them from the market for a large part
        of the quarter.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="ze1e0dc6cc8f442d7bf15cdfc80beff8d">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">5</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">On November 5, 2021 the &#8220;Nordic Sirius&#8221; was delivered to new owners. The price to us was between $14 &#8211; 15 million. After the transaction our fleet
                counts 24 units, including 2 newbuildings. The estimated value for our two newbuildings is now about $70 million per ship. They were ordered at about $55 million per ship.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zfdd201485dff424d84eac0f33768a833">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">6</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">The proceeds from the above mentioned sale has been used to pay down part of our $306 million senior secured facility with CLMG/Beal Bank of
                Texas. The company&#8217;s total net debt is $259.6 million or $11.8 million per vessel (based on 22 vessels). Our objective is to become debt free.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z525e53c3c9794e2fa1d99e6b809de589">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">7</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">The pandemic has lasted longer than we anticipated at the outset in early 2020. The third quarter of 2021 was the low point. The average time
                charter equivalent (TCE) for our active fleet during 3Q 2021 came in <font style="color: rgb(0, 0, 0);">at $5,800 </font>per day per ship &#8211; this was down from 2Q 2021 at $7,800 per day. NAT is through the low point. The average earnings
                for a Suezmax tanker for the last 30 years has been close to $30,000 per day per ship.</div>
            </td>
          </tr>

      </table>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">1</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-bottom: 8pt;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z42d35716b898431fbf5b4c181f250497">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">8</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">The third quarter of 2021 produced a net loss of -$44.7 million or a earnings per share (EPS) <font style="color: rgb(0, 0, 0);">of -$0.27. </font>Adjusted
                for an impairment <font style="color: rgb(0, 0, 0);">of $8.4 </font>million (non-cash) the net loss <font style="color: rgb(0, 0, 0);">was -$36.3 </font>million and adjusted EPS <font style="color: rgb(0, 0, 0);">of -$0.22.&#160; this </font>compares

                to the previous quarter, that came in at a net loss of -$28.7 million or an EPS of -$0.18.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zd819eacd77f6412799b6707c257bef1c">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">9</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">Dividend is a priority for NAT and a reflection of our earnings. The dividend for 3Q 2021 <font style="color: rgb(0, 0, 0);">is 1 cent ($0.01) </font>per
                share, payable on Tuesday December 21, 2021, to shareholders on record Tuesday December 7, 2021. This is our 97th consecutive quarterly dividend payment.</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zfb7a71b472504f618118711c3dcb039d">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">10</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">We have an excellent vetting record on our vessels, perhaps the best sign of a tanker company&#8217;s reliability. Vetting is the scorecard provided by
                our customers.</div>
            </td>
          </tr>

      </table>
      <div style="margin-left: 36pt; margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">NAT has sound corporate governance principles. The Company has zero tolerance for corruption. Our policy is to
        underpromise and overdeliver.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="zb13e7cf2410141c3a2dd52d76e95e661">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">11</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif; font-variant: small-caps; font-weight: bold;">Financial information for the third quarter of 2021 and for other periods is included later in this report.</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">Our Fleet</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">Our fleet now consists of 24 (incl. 2 newbuildings) well maintained Suezmax tankers with a cargo lifting capacity of 1 million barrels of oil each. We have only Suezmaxes in our
        fleet.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">We take extra care to maintain our vessels to the highest standards for the safety of crew, cargo and the environment. The outcome of the inspections of our ships by oil
        companies (&#8220;vetting&#8221;) reflect the good quality and maintenance of our fleet.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">The Covid-19 pandemic has lasted longer than we forsaw in the spring of 2020. Main operational challenges have been related to crew changes and in our work to safeguard our
        seafarers and our ships.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">NAT has one of the largest fleets of Suezmax tankers in the world. In a capital intensive industry like ours, careful maintenance of our ships and the timing &amp; financing of
        expansion are key elements to ensure both our financial stability and our commitment to paying cash dividends.</div>
      <div><br>
      </div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">Results for the third quarter 2021</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">For the third quarter 2021 the net <font style="color: rgb(0, 0, 0);">loss was -$44.7 million or -$0.27 per share</font>. Adjusted for an impairment <font style="color: rgb(0, 0, 0);">of $8.4 million </font>(non-cash) the net loss was -$36.3 million and EPS of -$0.22. This compares with a net loss of -$28.7 million and an EPS of -$0.18 per share in the second quarter of 2021. We believw the trading conditions of NAT
        has reached the bottom and the path forward is upwards.</div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">For detailed information about our statement of operations (P&amp;L), balance sheet, cash flow and reconciliation of certain Non-GAAP financial measures, we
        refer to the tables on page 5 and 6 of this press release.</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">2</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">Financing</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">Our Net Debt (total debt less current assets) <font style="color: rgb(0, 0, 0);">stood at $259.6 million </font>which equals $11.8 million per ship based on 22 vessels, as of
        September 30, 2021.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">The details of our two financing arrangements are as follows;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z923068aa98f2485ab546eeda257342e4">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif;">1)</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif;">The total outstanding balance to CLMG/Beal Bank (including current portion of the debt), is <font style="color: rgb(0, 0, 0);">$241.3 </font>million as of September 30, 2021. This includes
                the original amount of $306 million from February 2019 and the accordion loan of $30 million from December 2020.&#160; Restricted cash <font style="color: rgb(0, 0, 0);">of $5.8 </font>million is related to deposits held for future Drydockings
                of our vessels, in accordance with our borrowing agreement. After the sale of one vessel, the total outstanding balance to CLMG/Beal Bank as of the date of this report <font style="color: rgb(0, 0, 0);">is $225.9 </font>million. &#160;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000; margin-bottom: 12pt;" class="DSPFListTable" id="z74e56a4577f849f1920341a17a830632">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman',serif;">2)</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman',serif;">The total outstanding balance to Ocean Yield (including current portion of the debt) <font style="color: rgb(0, 0, 0);">is $106.3 </font>million as of September 30, 2021.</div>
            </td>
          </tr>

      </table>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">The balance sheet numbers in this report shows that the current portion of long term debt <font style="color: rgb(0, 0, 0);">includes $29.4 </font>million for expected debt
        repayment associated with vessels held for sale. Current portion of long term debt related to CLMG/Beal Bank <font style="color: rgb(0, 0, 0);">is $14.4 and $7.9 million </font>is related to the Ocean Yield Financing. This is presented in our
        balance sheet with a <font style="color: rgb(0, 0, 0);">total of $51.8 million </font>net of transaction costs.</div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">Our two newbuildings for delivery first half&#160; 2022 are fully financed via Ocean Yield.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">On September 29, 2021 we registered a new $60 million At-The-Market (&#8220;ATM&#8221;) facility with the Securities &amp; Exchange Commission (SEC). At September 30, the old ATM facility
        registered October 16, 2020 had utilized $56.1 million of its $60 million capacity. As of September 30, 2021 we had a total of 171,964,413 shares outstanding. The ATM facility has been a very effective instrument.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">For the third quarter of 2021 a cash dividend of 1 cent ($0.01) per share has been declared. This is the 97<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> consecutive quarterly dividend payment. In a rising
        market for our vessels, a higher dividend can be expected.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">Payment of the dividend will be on December 21, 2021, to shareholders of record on December 7, 2021.&#160;&#160;</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">World Economy and the Tanker Market</div>
      <div style="text-align: justify; margin-bottom: 12pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">A positive development of the world economy and world trade is positive for the crude oil tanker business.</div>
      <div style="text-align: justify; margin-bottom: 12pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">OECD oil inventories are now down to levels not seen since 2015, almost a 7-year low. Global oil consumption is almost back to
        pre-pandemic levels as jet fuel is catching up fast. We now see evidence of a growing demand&#160; for oil as refineries both in US, Europe and Asia are preparing for the winter.</div>
      <div style="text-align: justify; margin-bottom: 12pt; color: rgb(0, 0, 0); font-family: 'Times New Roman',serif;">Pinpointing the timimg of the uptick in acticity for tankers is always difficult. History has repeatedly proven that tanker markets can
        turn quickly and forcefully.</div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">The world&#8217;s Suezmax fleet (excl. shuttle, product &amp; Jones Act tankers) counted 548 vessels at September 30, 2021, with 39 vessles in order. This is an
        historical low orderbook. We currently see 30 conventional Suezmax tankers for delivery in 2022, 8 for delivery from the shipyards in 2023 and so far only one for delivery in 2024. <font style="color: rgb(0, 0, 0);">Shipyard capacity has been
          booked by bulk, gas and container ships, leaving limited possibility for tankers to increase the supply side of the tanker market beyond the low orderbook that we have described above. This bodes well for the long term balance of the tanker
          market.</font></div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">3</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">The supply of tanker tonnage is inelastic in the short-term. When there are too many ships in an area, rates tend to go down. When there is scarcity of
        ships, rates tend to go up. Short-term spot tanker rates may be expected to be volatile.</div>
      <div><br>
      </div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">Corporate Governance/Conflict of Interests</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">It is vital to ensure that there is no conflict of interests among shareholders, management, affiliates and related parties. Interests must be aligned. From time to time in the
        shipping industry, we see that questionable transactions take place which are not in harmony with sound corporate governance principles, both as to transparency and related party aspects. We have zero tolerance for corruption.</div>
      <div><br>
      </div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">Strategy Going Forward</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">The NAT strategy is built on expanding and maintaining a homogenous and top quality fleet, leveraging on our industry network and close customer relationships with major oil
        companies and oil traders.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">We are a dividend company with the objective of having a strong balance sheet and low G&amp;A costs, enabling us to distribute free cash flows to our shareholders.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">In an improved market, higher dividends can be expected.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">Our fleet of 24 (including newbuildings) more or less identical vessels is a special feature of NAT that is particularly valuable to our customers.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">NAT is firmly committed to protecting its underlying earnings and dividend potential. We shall safeguard and further strengthen this position in a deliberate, predictable and
        transparent way.</div>
      <div><br>
      </div>
      <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">* * * * *</div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">4</font></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="margin-bottom: 8pt;">
        <table cellspacing="0" cellpadding="0" id="z7123e6ea296046469812df78f60ee4e7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" colspan="4" style="vertical-align: top;">
                <div style="color: #000000; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" rowspan="1" colspan="4" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" rowspan="1" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" rowspan="1" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" rowspan="1" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" rowspan="1" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" rowspan="1" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">
                <div style="color: #000000; font-family: 'Times New Roman'; font-weight: bold;">CONSOLIDATED CONDENSED STATEMENTS OF OPERATION</div>
                <div style="color: #000000; font-family: 'Times New Roman'; font-weight: bold;">(UNAUDITED)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td rowspan="1" colspan="10" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; text-align: center;">Three Months Ended&#160;&#160;&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td rowspan="1" colspan="6" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; text-align: center;">Nine Months Ended&#160;&#160;&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">Amounts in USD '000</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;"> Sep. 30, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Jun. 30, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Net Voyage Revenue</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">9,313</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">16,747</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">37,287</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">44,872</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">217,237</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Vessel Operating Expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(17,388</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(17,603</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(17,501</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(51,440</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(50,199</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">General and Administrative Expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(4,096</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(3,504</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(4,079</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(11,264</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(12,699</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Depreciation Expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(17,595</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(17,402</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(17,440</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(52,074</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(50,792</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Impairment</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(8,406</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(8,406</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Operating Expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(47,485</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(38,509</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(39,020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(123,184</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(113,690</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Net Operating Income (Loss)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(38,172</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(21,762</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(1,733</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(78,312</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">103,547</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Interest Income</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(1</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">2</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">94</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Interest Expense</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(6,397</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(6,643</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(8,218</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(19,719</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(24,953</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Other Financial Income (Expenses)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(95</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(283</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(70</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(350</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">8</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Total Other Expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(6,493</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(6,926</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(8,288</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(20,067</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(24,851</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Net Income (Loss)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(44,665</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(28,688</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(10,021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(98,379</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">78,696</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Basic and Diluted Earnings (Loss) per Share</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(0.27</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(0.18</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(0.07</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(0.63</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0.53</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Weighted Average Number of Common Shares Outstanding</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">164,225,057</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">155,595,376</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">149,797,475</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">157,271,349</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">148,680,579</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Common Shares Outstanding</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">171,964,413</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">158,464,967</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">150,461,345</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">171,964,413</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">150,461,345</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
        <div><br>
        </div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">CONSOLIDATED CONDENSED BALANCE SHEET (UNAUDITED)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;"><br>
                </div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;"><br>
                </div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 9pt;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Amounts in USD '000</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold; text-align: right;">Sep. 30, 2021</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Dec. 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Cash and Cash Equivalents</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">32,031</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">57,847</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Restricted Cash</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">5,827</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">4,223</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Accounts Receivable, Net</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">8,131</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">6,349</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Prepaid Expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">3,997</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">5,477</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Inventory</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">16,752</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">19,408</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Voyages in Progress</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">4,551</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">4,644</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Other Current Assets</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">3,426</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">1,574</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Vessels Held for Sale</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">29,726</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Total current assets</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">104,441</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">99,522</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Vessels, Net</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">779,076</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">861,342</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Vessels under Construction</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">23,523</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">11,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Other Non-Current Assets</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">4,734</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">2,483</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Total Non-Current Assets</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">807,332</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">874,825</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Total Assets</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">911,773</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">974,347</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Accounts Payable</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">4,372</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">4,099</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Accrued Voyage Expenses</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">8,134</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">5,254</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Other Current Liabilities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">8,156</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">8,232</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Dividends Payable</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">1,713</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Current Portion of Long Term Debt</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">51,786</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">*</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">22,094</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Total Current liabilities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">74,161</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">39,679</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Long-Term Debt</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">288,403</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">334,615</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Other Non-Current Liabilities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">1,505</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">927</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Total Non-current Liabilities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">289,908</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">335,542</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Shareholders' Equity</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">547,704</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">599,126</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Total Liabilities and Shareholders' Equity</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">911,773</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">974,347</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="8" style="vertical-align: top; font-size: 9pt;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">* Current Portion of Long-Term Debt as of September 30, 2021 includes $29.4 million for expected debt repayments associated with Vessels Held for Sale of which $13.9 million
                  was repaid in November.</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>

        </table>
        <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">5</font></div>
          <div id="DSPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        </div>
        <table cellspacing="0" cellpadding="0" id="z817a3cc94f13434fa2d5a66acb34f9fb" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; font-size: 14pt;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; padding-bottom: 2px;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOW</div>
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(UNAUDITED)</div>
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;"> <br>
                </div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: right; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Nine Months Ended</div>
              </td>
              <td nowrap="nowrap" colspan="1" style="text-align: center; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="1" style="vertical-align: bottom; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; text-align: right; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Twelve Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; font-size: 9pt; border-bottom: 2px solid rgb(0, 0, 0);">Amounts in USD '000</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;"> Sep. 30, 2021</div>
                <div> </div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: right; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Dec. 31, 2020</div>
                <div> </div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Net Cash Provided by/(Used in) Operating Activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(37,575</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">110,944</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Investment in Vessels</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(2,372</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(6,845</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Investment in Other Fixed Assets</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(560</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(233</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Investment in Vessels under Construction</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(12,477</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(11,000</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Proceeds from Sale of Investment Securities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">602</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Net Cash Used in Investing Activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(15,409</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(17,476</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Proceeds from Issuance of Common Stock</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">54,566</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">20,713</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Proceeds from Borrowing Activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">29,300</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Repayments of Vessel Financing</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(5,918</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(7,630</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Repayment of Borrowing Facility</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(12,605</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(67,896</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Financing Transaction Costs</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(1,100</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(320</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Dividends Distributed</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(6,180</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(67,242</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Net Cash Provided by/(Used in) Financing Activities</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">28,763</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(93,075</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(24,221</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">393</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Effect of exchange rate changes on Cash</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">9</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">39</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Cash, Cash Equivalents and Restricted Cash at Beginning of Period</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">62,070</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">61,638</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Cash, Cash Equivalents and Restricted Cash at End of Period</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">37,858</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">62,070</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Cash and Cash Equivalents</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">32,031</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">57,847</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Restricted Cash</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">5,827</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">4,223</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z47d22a58ceda48a6954373ac08c2ecaf" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: top; font-size: 14pt;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; padding-bottom: 2px;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td rowspan="1" colspan="10" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td colspan="6" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Nine Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-size: 9pt;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Amounts in USD '000</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Jun. 30, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Voyage Revenue</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">52,394</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">52,394</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">56,044</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">140,722</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">310,777</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Voyage Expense</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(35,647</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(35,647</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(18,757</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(95,851</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(93,540</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Net Voyage Revenue <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">16,747</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">16,747</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">37,287</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">44,872</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">217,237</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>

        </table>
        <div><br>
        </div>
      </div>
      <div><br>
        <table cellspacing="0" cellpadding="0" id="zd54d51407efc4612ab2519b41846443b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

            <tr>
              <td valign="bottom" style="vertical-align: top; border-top: 2px solid rgb(0, 0, 0); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); padding-bottom: 2px;">&#160;</td>
              <td colspan="10" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Three Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px; border-top: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); text-align: center;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Twelve Months Ended</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Amounts in USD '000</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Jun. 30, 2021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Sep. 30, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="text-align: center; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">Dec. 31, 2020</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 52%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Net Income (Loss)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(44,665</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(28,688</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(10,021</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">50,033</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 52%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Interest Expense</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">6,397</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">6,643</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">8,218</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">31,481</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 52%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Interest Income</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">1</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">(96</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Depreciation Expense</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">17,595</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">17,402</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">17,440</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">67,834</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">EBITDA <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(20,672</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(4,643</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">15,637</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">149,252</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">Impairment</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">8,406</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman';">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 52%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">ADJUSTED EBITDA</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(12,266</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">(4,643</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">15,637</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold;">149,252</div>
              </td>
              <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <div>
          <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z28242b007caa4a67b03cb502183e7b54">

              <tr>
                <td style="width: 3.25%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt;">(1)</div>
                </td>
                <td colspan="9" style="width: 96.75%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt;">Net voyage revenues represents voyage revenues less voyage expenses such as bunker fuel, port fees, canal tolls and brokerage commissions. Net voyage
                    revenues is included because certain investors use this data to measure a shipping company's financial performance. Net voyage revenues is not required by accounting principles generally accepted in the United States and should not be
                    considered as an alternative to net income or any other indicator of the Company's performance required by accounting principles generally accepted in the United States.</div>
                </td>
              </tr>
              <tr>
                <td style="width: 3.25%; vertical-align: top; font-size: 9pt;">&#160;</td>
                <td style="width: 35.88%; vertical-align: top; font-size: 9pt;">&#160;</td>
                <td style="width: 1.95%; vertical-align: top;">&#160;</td>
                <td style="width: 12.66%; vertical-align: top;">&#160;</td>
                <td style="width: 1.95%; vertical-align: top;">&#160;</td>
                <td style="width: 12.66%; vertical-align: top;">&#160;</td>
                <td style="width: 1.95%; vertical-align: top;">&#160;</td>
                <td style="width: 12.66%; vertical-align: top;">&#160;</td>
                <td style="width: 1.95%; vertical-align: top;">&#160;</td>
                <td style="width: 15.1%; vertical-align: top;">&#160;</td>
              </tr>
              <tr>
                <td style="width: 3.25%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt;">(2)</div>
                </td>
                <td colspan="9" style="width: 96.75%; vertical-align: top;">
                  <div style="color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt;">EBITDA is included because certain investors use this data to measure a shipping company's financial performance. EBITDA is not required by accounting
                    principles generally accepted in the United States and should not be considered as an alternative to net income or any other indicator of the Company's performance required by accounting principles generally accepted in the United
                    States.</div>
                </td>
              </tr>

          </table>
        </div>
        <div><br>
        </div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman', Times, serif; font-weight: normal; font-style: normal;">6</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div><br>
      </div>
      <div style="text-align: center; margin-bottom: 12pt; font-family: 'Times New Roman',serif; font-weight: bold;">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">Matters discussed in this press release may constitute forward-looking statements. &#160;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.</div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">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," "will," "may," "should," "expect," "pending" and similar expressions identify
        forward-looking statements.</div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">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. &#160;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. &#160;We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.</div>
      <div style="text-align: justify; margin-bottom: 12pt; font-family: 'Times New Roman',serif;">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 tanker market, as a result of changes in OPEC's petroleum production levels and worldwide oil
        consumption and storage, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions
        taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and
        instances of off-hires and other important factors described from time to time in the reports filed by the Company with the Securities and Exchange Commission, including the prospectus and related prospectus supplement, our Annual Report on Form
        20-F, and our reports on Form 6-K.</div>
      <div style="margin-bottom: 12pt; font-family: 'Times New Roman',serif;">NAT is a Bermuda based Company.</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',serif; font-weight: bold;">Contacts:</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',serif;">Gary J. Wolfe</div>
      <div style="font-family: 'Times New Roman',serif;">Seward &amp; Kissel LLP</div>
      <div style="font-family: 'Times New Roman',serif;">New York, USA</div>
      <div style="font-family: 'Times New Roman',serif;">Tel: +1 212 574 1223</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',serif;">Bj&#248;rn Gi&#230;ver, CFO</div>
      <div style="font-family: 'Times New Roman',serif;">Nordic American Tankers Limited</div>
      <div style="font-family: 'Times New Roman',serif;">Tel: +1&#160;888&#160;755 8391 or +47&#160;91 35 00 91</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',serif;">Herbj&#248;rn Hansson, Chairman &amp; CEO</div>
      <div style="font-family: 'Times New Roman',serif;">Nordic American Tankers Limited</div>
      <div style="font-family: 'Times New Roman',serif;">Tel: +1&#160;866&#160;805 9504</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',serif;">Web-site: <u>www.nat.bm</u></div>
      <div><br>
        <br>
      </div>
    </div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">7</font></div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image0.jpg
<TEXT>
begin 644 image0.jpg
M_]C_X  02D9)1@ ! 0$ J "H  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !P -X# 2(  A$! Q$!_\0
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?<*$&?0UGAL(\.Y/F331W9OGT,SH4X<CC*+N^VQ__V0$!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
