<SEC-DOCUMENT>0000919574-23-006573.txt : 20231130
<SEC-HEADER>0000919574-23-006573.hdr.sgml : 20231130
<ACCEPTANCE-DATETIME>20231130163740
ACCESSION NUMBER:		0000919574-23-006573
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20231130
FILED AS OF DATE:		20231130
DATE AS OF CHANGE:		20231130

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:		231456336

	BUSINESS ADDRESS:	
		STREET 1:		SWAN BUILDING
		STREET 2:		26 VICTORIA STREET
		CITY:			HAMILTON HM12
		STATE:			D0
		ZIP:			00000
		BUSINESS PHONE:		(441) 292-7202

	MAIL ADDRESS:	
		STREET 1:		SWAN BUILDING
		STREET 2:		26 VICTORIA STREET
		CITY:			HAMILTON HM12
		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
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    <div style="text-align: center; line-height: 20.5pt; margin-top: 3pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; line-height: 20.5pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; line-height: 13.7pt; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
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    <div style="text-align: center; line-height: 20.5pt; margin-top: 9pt; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">FORM 6-K</div>
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    <div style="text-align: center; line-height: 13.7pt; 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; line-height: 13.7pt; 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; line-height: 13.7pt; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="text-align: center; line-height: 11.4pt; margin-top: 9pt; font-family: 'Times New Roman', serif; font-weight: bold;">For the month of November 2023</div>
    <div style="text-align: center; line-height: 11.4pt; margin-top: 9pt; font-family: 'Times New Roman', serif; font-weight: bold;">Commission File Number: 001-13944</div>
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    <div style="text-align: center; line-height: 20.5pt; 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; line-height: 8.55pt; font-family: 'Times New Roman', serif; font-size: 7.5pt; font-weight: bold;">(Translation of registrant&#8217;s name into English)</div>
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    <div style="text-align: center; line-height: 11.4pt; 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; line-height: 8.55pt; font-family: 'Times New Roman', serif; font-size: 7.5pt; font-weight: bold;">(Address of principal executive office)</div>
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    <div style="text-align: justify; line-height: 11.4pt; 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>
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    <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">INFORMATION CONTAINED IN THIS FORM 6-K REPORT</div>
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    </div>
    <div style="line-height: 11.4pt; 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 29, 2023, announcing the Company&#8217;s dividend and earnings
      report for the third quarter of 2023.</div>
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    <div style="line-height: 11.4pt; 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.
      333-261630), filed with the U.S. Securities and Exchange Commission with an effective date of February 14, 2022.</div>
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    <div style="text-align: center; line-height: 11.4pt; margin-top: 9pt; font-family: 'Times New Roman', serif; font-weight: bold;">SIGNATURES</div>
    <div style="line-height: 11.4pt; 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>
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            <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
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            <div style="text-align: center; line-height: 11.4pt; font-family: 'Times New Roman', serif;">(registrant)</div>
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            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">Dated:&#160;November 30, 2023</div>
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            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">By:</div>
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            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif;">/S/ HERBJ&#216;RN HANSSON</div>
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            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">Herbj&#248;rn Hansson</div>
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            <div style="line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">Chairman, President, and Chief Executive Officer</div>
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    <div style="text-align: right; line-height: 11.4pt; font-family: 'Times New Roman', serif; font-weight: bold;">Exhibit 1</div>
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      </div>
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      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">Nordic American Tankers Limited (NYSE: NAT) &#8211; Report as per September 30, 2023<br>
        &#8211; The direction is up in a strong market</div>
      <div style="line-height: 15.95pt;"><br style="line-height: 15.95pt;">
      </div>
      <div style="line-height: 12.55pt;"><font style="font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">Wednesday, November 29, 2023<br>
        </font><br style="line-height: 12.55pt;">
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      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps;"><font style="font-weight: bold;">Highlights:</font>&#160;</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps; font-weight: bold;">1</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps; font-weight: bold;">For decades, the experience is that uncertain times create demand for our ships. We see that there is a scarcity
                of tankers. The NAT fleet is busy supplying energy to many parts of the world. NAT has not loaded Russian oil for several years. Our main customers, the major oil companies know that our ships are first class and they know they can always
                rely on Nordic American.</div>
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      <div style="margin: 0px 0px 0px; line-height: 14.35pt;"><br style="line-height: 14.35pt;">
      </div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt; 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-size: 11pt; font-variant: small-caps; font-weight: bold;"><font style="color: #000000;">Inflation in the US came in at 3.2% in October, down from 9.1% a little more than a year ago. The
                  US economy is on the right track and China is also taking steps to stimulate its economy. Oil will continue to be an important commodity for all major economies for a long time. It is anticipated that world oil demand will grow also in
                  2024</font><font style="font-family: Calibri, sans-serif; color: #000000;">.</font></div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt; 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-size: 11pt; font-variant: small-caps; font-weight: bold;">The net income for the first nine months of 2023 is more than $100 million higher than for the same period last year. The net
                income for the first nine months of 2023 totaled $81.2 million compared to the net loss of -$20.9 million during the first nine months of 2022. The third quarter in 2023 came in with a net income of $7.5 million.</div>
            </td>
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      </div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt; 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-size: 11pt; font-variant: small-caps; font-weight: bold;">The average Time Charter Equivalent (TCE) for our spot vessels (15) during the third quarter of 2023 came in at $32,832 per day
                per ship. Including vessels on term contracts (4), the total average NAT TCE was $31,235 per day per ship. During the same quarter last year the TCE was $27,850 per day per ship. Similar to the other quarters this year, this is one of the
                strongest third quarter TCE&#8217;s ever achieved in NAT&#8217;s 28-year history as a listed company. The operating costs per day per ship are about $9,000.</div>
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      </div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt; 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-size: 11pt; font-variant: small-caps; font-weight: bold;">Bookings for the fourth quarter of 2023&#160; indicate a strong fourth quarter. About 73% of our spot voyage days for the fourth
                quarter of 2023 have now been booked at an average TCE of $43,160 per day per ship. There is a scarcity of our type of ships, leading to better results and higher dividend.</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt; 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-size: 11pt; font-variant: small-caps; font-weight: bold;">We are scheduled to take delivery of the recently purchased suezmax tanker, to be named &#8220;Nordic Hawk&#8221;,&#160; on December 4, 2023.
                Nordic Hawk is the name of the first vessel in the NAT fleet following our US stocklisting in 1995. Including Nordic Hawk our fleet stands at 20 Suezmax tankers.</div>
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            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt; 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-size: 11pt; font-variant: small-caps; font-weight: bold;">The dividend for the third quarter of 2023 is 6 cents ($0.06) per share. The Dividend is payable January 17, 2024 to
                shareholders of record as of December 20, 2023. Higher earnings will result in higher dividends.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">1</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <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="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </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: 8pt;" class="DSPFListTable" id="z8579329763df420db117c081c341fa3f">

          <tr>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt; 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-size: 11pt; font-variant: small-caps; font-weight: bold;">NAT has one of the lowest debt levels among publicly listed tanker companies. Our net debt stood at $170.8 million<font style="font-family: Calibri, sans-serif;">,</font> equal to $9 million per ship at September 30, 2023. The objective of NAT clearly remains to become free of debt.</div>
            </td>
          </tr>

      </table>
      <div style="margin: 0px 0px 0px; line-height: 14.35pt;"><br style="line-height: 12.55pt;">
      </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: 8pt;" class="DSPFListTable" id="zd1840008ce1e4e2f8e7e48896fc8f2ca">

          <tr>
            <td style="width: 18pt; vertical-align: top; color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps; font-weight: bold;">9</td>
            <td style="width: auto; vertical-align: top;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps; font-weight: bold;">The NAT fleet of versatile suezmax tankers offer flexibility in loading and discharging ports. Through careful
                voyage planning and adjustment of speed of our vessels, we reduce emissions. Each individual ship in The NAT fleet is of excellent technical quality, as demonstrated in the vetting performance, the score board undertaken by our customers.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 14.35pt; margin-bottom: 8pt;"><br style="line-height: 14.35pt;">
      </div>
      <div style="line-height: 14.35pt; margin-bottom: 8pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps; font-weight: bold;">Sincerely,</div>
      <div style="line-height: 14.35pt; margin-bottom: 8pt;"><br style="line-height: 14.35pt;">
      </div>
      <div style="line-height: 14.35pt; margin-bottom: 8pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps; font-weight: bold;">Herbj&#248;rn Hansson</div>
      <div style="line-height: 14.35pt; margin-bottom: 8pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps; font-weight: bold;">founder, Chairman &amp; CEO</div>
      <div style="line-height: 14.35pt; margin-bottom: 8pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt; font-variant: small-caps; font-weight: bold;">Nordic American Tankers Ltd</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">Our Fleet</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">As of September 30, 2023 our fleet consisted of 19 well maintained Suezmax tankers with a cargo lifting capacity of 1 million barrels of oil each. We only have
        Suezmaxes in our fleet.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">In the course of this coming week, we are scheduled to take delivery of one more vessel to our fleet. The 2016-, Hyundai-built suezmax tanker named &#8220;Nordic
        Hawk&#8221; will join and increase our fleet to 20 ships.</div>
      <div style="line-height: 12.55pt;"><font style="font-family: 'Times New Roman', serif; font-size: 11pt;"> </font><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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 style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">Results for the third quarter and the first nine months of 2023</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">For the third quarter 2023, the net income was $7.5 million or an EPS of $0.04.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">The first nine months of 2023 produced a Net income of $81.2 million. This is a $102.1 million improvement from the first nine months of 2022, that saw a Net
        loss of -$20.9 million.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">The average time charter equivalent (TCE) for our fleet during the third quarter of 2023 came in at $31,235 per day per ship, up from the same quarter last
        year of $27,850 per day per vessel. The market has continued on a firm note although seasonal softness has been evident in both the second and third quarter of 2023. 73% of our spot voyage days in the fourth quarter 2023 have been booked at an
        average TCE of $43,160 per day per ship. This number is on a discharge-to-discharge basis. We currently have fifteen of our nineteen vessels in the spot market.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">2</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <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="line-height: 14.75pt; margin-bottom: 8pt;"><br style="line-height: 14.75pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">Financing</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Our Net Debt (total liabilities less current assets) stood at $170.8 million, which equals $9 million per ship based on 19 vessels, as of September 30, 2023.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">The details of our two financing arrangements are as follows;</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb8b940912ae0460f8406ec22d6e840dc">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt;">1)</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif; font-size: 11pt;">The total outstanding balance to CLMG/Beal Bank, was $87.7 million as of September 30, 2023, including current portion of the debt.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 13.15pt; margin-bottom: 8pt;"><br style="line-height: 13.15pt;">
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc3e6d9931b1647ea86d9392a10b4c1fe">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 18pt; vertical-align: top; font-family: 'Times New Roman', serif; font-size: 11pt;">2)</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: 'Times New Roman', serif; font-size: 11pt;">The 5 vessels financed through Ocean Yield have as of September 30, 2023 a total outstanding balance of $170.2 million, including current portion of the debt.</div>
            </td>
          </tr>

      </table>
      <div style="line-height: 13.15pt; margin-bottom: 8pt;"><br style="line-height: 13.15pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">The Beal/CLMG loan is after extention of final maturity with 12 months not presented as current in this report. Current portion of long term debt is now $25.9
        million net of transaction costs.&#160; $14.2 million is related to the Ocean Yield financing and $11.7 million is related to the Beal/CLMG financing. Restricted cash of $4.9 million is related to deposits held for future Drydockings of our vessels, in
        accordance with our borrowing agreement with Beal Bank/CLMG.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">The new vessel, Nordic Hawk, to be delivered shortly, is financed through a financing arrangement with Ocean Yield. The arrangement is similar to the financing
        of the five vessels we already have in our fleet.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">For the third quarter of 2023 a cash dividend of 6 cent ($0.06) per share has been declared. This is our 105<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">th</sup> consecutive quarterly dividend.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Payment of the dividend will be on January 17, 2024, to shareholders of record on December 20, 2023.&#160;&#160;</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">World Economy and the Tanker Market</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt;">Oil demand continues to be strong and the higher interest rates has lowered inflation significantly in the US, while China
        seems prepared to do what it takes to keep its economy thrive. Political uncertainty has not eased since last quarter and we do not see this going away anytime soon. We continue to see high demand for oil,&#160; a fragmented trade picture with
        logistical inefficiencies and a tight supply of ships. These are interesting dynamics for the NAT oil tankers. Seasonal variations will occur, but as we have seen so far this year, the trend supports future earnings at higher levels than in the
        past.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 11pt;">NAT in particular stands to benefit from the fact that the supply of Suezmax tankers will remain at historic low levels
        for at least the next two or three years. Environmental regulations, increased steel and production costs, and higher interest rates make investing in new ships quite challenging.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">The world&#8217;s Suezmax fleet (excl. shuttle, product &amp; Jones Act tankers) counted 579 vessels as of September 30, 2023. With a fairly
        high ordering activity during the quarter, the orderbook for Suezmax tankers now counts 56 vessels which equals 10% of the world&#8217;s conventional suezmax fleet spread over the next 4 years (The historic average for orderbook in percent of existing
        fleet is 20%).</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Only four new vessels will enter the fleet in 2024, 26 in 2025, 21 in 2026 and the rest in 2027. The fleet growth for the coming three
        years is set to be very muted.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">The available shipyard capacity for large oil tankers (Suezmax and VLCCs) has to a large extent been booked by larger container and gas
        ships, leaving very limited capacity to build additional Suezmax tankers with quality yards on this side of 2026.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">This is very good news for the long term market dynamics in our industry and we could potentially see net negative fleet growth in the
        conventional suezmax market in the coming two to three years.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">All of the above are good news for the short- and long term outlook for our tankers. It is anticipated that the tanker markets will
        continue strong in the coming years.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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 style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">3</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
          <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="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">Corporate Governance/Conflict of Interests</div>
      <div style="line-height: 13.7pt;"><br style="line-height: 13.7pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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 style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">Strategy Going Forward</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">In an improved market, higher dividends can be expected.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Our fleet of 20 more or less identical vessels, after the latest purchase, is a special feature of NAT that is particularly valuable to our customers.</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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 style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="text-align: center; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">* * * * *</div>
      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-weight: normal; font-style: normal;">4</font></div>
        <div style="page-break-after: always;" class="BRPFPageBreak">
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      </div>
      <div style="line-height: 13.55pt; margin-bottom: 8pt;">
        <table cellspacing="0" cellpadding="0" class="cfttable" id="z888a26272eef48bd8bac7659c4cfae98" 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="line-height: 15.95pt; color: #000000; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
              </td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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            </tr>
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              <td valign="bottom" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
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              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
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                <div style="line-height: 11.4pt; color: #000000; font-family: 'Times New Roman'; font-weight: bold;">CONSOLIDATED CONDENSED STATEMENTS OF OPERATION</div>
                <div style="line-height: 11.4pt; color: #000000; font-family: 'Times New Roman'; font-weight: bold;">(UNAUDITED)</div>
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                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Three Months Ended</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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              <td colspan="2" style="vertical-align: bottom; text-align: right; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;"> Sept. 30, 2023</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; 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="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Jun. 30, 2023</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; 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="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2022</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftguttercell" 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="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2023</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; 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="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2022</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Net Voyage Revenue</div>
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              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">48,036</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">67,796</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">47,382</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">202,927</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">97,728</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 40%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Vessel Operating Expenses</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(14,607</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(15,922</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(14,829</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(44,483</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(48,212</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Depreciation Expenses</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(12,669</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(12,726</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(12,299</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(38,119</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">1,173</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">28</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">General and Administrative Expenses</div>
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              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(5,002</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(4,282</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(17,034</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(13,712</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Operating Expenses</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(33,568</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(33,650</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(30,237</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(99,636</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(99,584</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Net Operating Income (Loss)</div>
              </td>
              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">14,468</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">34,146</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">17,145</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">103,291</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">(1,856</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">)</div>
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              <td valign="bottom" style="vertical-align: top; width: 40%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Interest Income</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">604</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">352</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">98</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">1,260</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">115</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Interest Expense</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(7,556</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(7,704</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(7,278</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(23,294</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(19,008</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Other Financial Income (Expenses)</div>
              </td>
              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(29</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">15</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">43</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(49</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" 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" class="cftcurrcell" 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" class="cftnumcell" 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="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(182</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Total Other Expenses</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(6,981</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(7,337</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(7,137</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(22,083</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(19,075</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Net Income (Loss)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">7,487</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">26,809</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">10,009</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">81,208</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">(20,931</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Basic and Diluted Earnings (Loss) per Share</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0.04</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0.13</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">208,796,444</div>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">208,796,444</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">208,796,444</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">208,796,444</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">208,796,444</div>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">21,960</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">5,184</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">5,975</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Inventory</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">22,192</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">25,430</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Voyages in Progress</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">7,238</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">23,997</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Other Current Assets</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">1,998</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">3,484</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Total current assets</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">132,616</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">142,662</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Vessels, Net</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">702,239</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">735,134</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Other Non-Current Assets</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">1,477</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">2,087</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Total Non-Current Assets</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">703,716</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">737,221</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Total Assets</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">836,332</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">879,883</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Accounts Payable</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">3,988</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">6,960</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Accrued Voyage Expenses</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">5,913</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">11,315</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Other Current Liabilities</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">10,514</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">14,439</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Dividends Payable</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">27,144</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Current Portion of Long Term Debt</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">25,865</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">39,700</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Total Current liabilities</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">73,424</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">72,414</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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            <tr>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Long-Term Debt</div>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px;">
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">836,332</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">879,883</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
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                <div style="line-height: 15.95pt; color: #000000; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
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              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-size: 9pt;">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">24,134</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(484</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(5,116</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(90,301</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Proceeds from Vessel Sales</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Net Cash Used in Investing Activities</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">(484</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">(14,343</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">)</div>
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              <td valign="bottom" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Proceeds from Issuance of Common Stock</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">49,096</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Proceeds from Vessel Financing</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">0</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">88,000</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Repayments of Vessel Financing</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(10,592</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(11,476</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Repayment of Borrowing Facility</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(41,529</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(93,933</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Dividends Distributed</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(62,639</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(22,682</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
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            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Net Cash Provided by (Used in) Financing Activities</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">(114,760</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">9,005</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" style="vertical-align: top; width: 76%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" 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: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">10,829</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">18,796</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Effect of exchange rate changes on Cash</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(87</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(142</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Cash, Cash Equivalents and Restricted Cash at Beginning of Period</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">63,302</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">44,648</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
            </tr>
            <tr>
              <td valign="bottom" colspan="1" style="vertical-align: top; width: 76%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Cash, Cash Equivalents and Restricted Cash at End of Period</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">74,044</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">63,302</div>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px; background-color: #CCEEFF;">
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              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #646464 solid 2px;">
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      <div style="line-height: 12.55pt;"><br style="line-height: 12.55pt;">
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      <div style="line-height: 12.55pt;">
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                <div style="line-height: 15.95pt; color: #000000; font-family: 'Times New Roman'; font-size: 14pt; font-weight: bold;">NORDIC AMERICAN TANKERS LIMITED</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: #646464 solid 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #646464 solid 2px;">&#160;</td>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Three Months Ended</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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                <div style="line-height: 9.1pt; color: #000000; font-family: 'Times New Roman'; font-size: 8pt;">Amounts in USD '000</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2023</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Jun. 30, 2023</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2022</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2023</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2022</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Voyage Revenue</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">78,450</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">99,100</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">104,879</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">298,983</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">229,133</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Voyage Expense</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(30,414</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(31,304</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(57,497</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(96,056</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(131,405</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">)</div>
              </td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; 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" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">48,036</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">47,382</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Three Months Ended</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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              <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" style="vertical-align: top; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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                <div style="line-height: 9.1pt; color: #000000; font-family: 'Times New Roman'; font-size: 8pt;">Amounts in USD '000</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2023</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Jun. 30, 2023</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Sept. 30, 2022</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100); text-align: right;">
                <div style="line-height: 10.25pt; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">Dec. 31, 2022</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Net Income</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">7,487</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">26,809</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">10,009</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">15,101</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Interest Expense (Income), net</div>
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              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">6,952</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">7,352</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">7,180</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">26,698</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">Depreciation Expense</div>
              </td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">12,669</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">12,726</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">12,299</div>
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              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">50,421</div>
              </td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100); background-color: rgb(204, 238, 255);">&#160;</td>
              <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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            <tr>
              <td valign="bottom" style="vertical-align: top; width: 40%; border-bottom: 2px solid rgb(100, 100, 100);">
                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">EBITDA <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup></div>
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              <td valign="bottom" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(100, 100, 100);">&#160;</td>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt; font-weight: bold;">86,529</div>
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              <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;">&#160;</td>
              <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;">&#160;</td>
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              <td style="width: 95%; vertical-align: top;">
                <div style="line-height: 9.1pt; color: #000000; font-family: 'Times New Roman'; font-size: 8pt;">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>
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              <td rowspan="1" style="width: 95%; vertical-align: top;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</td>
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                <div style="line-height: 10.25pt; color: #000000; font-family: 'Times New Roman'; font-size: 9pt;">(2)</div>
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                <div style="line-height: 9.1pt; color: #000000; font-family: 'Times New Roman'; font-size: 8pt;">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>
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        <div class="BRPFPageNumberArea" style="text-align: center;"><font class="BRPFPageNumber" style="font-weight: normal; font-style: normal;">6</font></div>
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      <div style="text-align: center; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS</div>
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      </div>
      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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>
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      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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>
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      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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>
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      <div style="text-align: justify; line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">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>
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              <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;">Contacts:</div>
            </td>
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              <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Alexander Kihle, Finance Manager</div>
              <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Nordic American Tankers Limited</div>
              <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Tel: +47 91 72 41 71</div>
              <div style="line-height: 12.55pt;"><font style="font-family: 'Times New Roman', serif; font-size: 11pt;"> </font><font style="line-height: 12.55pt;">&#160;</font></div>
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              <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Bj&#248;rn Gi&#230;ver, CFO</div>
              <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Nordic American Tankers Limited</div>
              <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Tel: +1&#160;888&#160;755 8391</div>
            </td>
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            <td style="width: 50%; vertical-align: top;">&#160;</td>
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          <tr>
            <td style="width: 50%; vertical-align: top;">
              <div style="line-height: 12.55pt; font-family: 'Times New Roman', serif; font-size: 11pt;">Web-site: <u>www.nat.bm</u></div>
              <div style="line-height: 12.55pt;"><font style="font-family: 'Times New Roman', serif; font-size: 11pt;"> </font><font style="line-height: 12.55pt;">&#160;</font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
