Company announcement no. 19
Issued via NASDAQ OMX 26 August 2010

In the second quarter of 2010, Nordic Tankers successfully completed a fully
subscribed rights issue, which resulted in a significant improvement of the
company's equity ratio and capital resources. As expected, the chemical and
product tanker markets continued to be difficult and a number of initiatives
are being pursued to strengthen Nordic Tankers' position. Thus, in the second
quarter, Nordic Tankers initiated joint marketing activities with Womar
Holdings LLC with a view to implement a pool management company, and thus over
time strengthen Nordic Tankers' position in Asia. 

“Following a dedicated effort in the first six months of the year, Nordic
Tankers has integrated the activities acquired from Clipper Group and improved
the company's capital base through the fully subscribed rights issue. Now,
focus is on optimisation of operations and execution of our corporate strategy,
the main theme of which is profitable growth”, says CEO Tommy Thomsen. 

Nordic Tankers posted a half-year result of USD -3.9 million before tax and
write-down of goodwill and a result of USD -12.0 million before tax but after
write-down of goodwill. The result is positively influenced by unrealised
currency gains. 

The half-year results, adjusted for unrealised gains on currency, reflect
management's expectations, and full-year expectations forecasting a loss before
tax and write-downs of between USD 20 and 25 million remain unchanged. 

In the second quarter, Nordic Tankers completed a fully subscribed rights
issue, which resulted in an equity increase of DKK 251.8 million (USD 41.5
million) through cash contribution and conversion of debt. 

The company's equity ratio is 21.7%, up from 10.8% at the end of the first
quarter. 

Following the successful integration of the activities acquired from Clipper
Group, Nordic Tankers' focus is on improvements of operations and long-term
growth initiatives in accordance with the corporate strategy. Thus, Nordic
Tankers initiated joint marketing activities with Womar Holdings LLC on 15
June, with a view to implement a pool management company, and thus over time
strengthen Nordic Tankers' position in Asia. 

In line with the corporate strategy, Nordic Tankers launched trading activities
at the end of the second quarter and has started to charter vessels that will
be employed within the company's geographical areas of activity. This activity
is expected to increase Nordic Tankers' time charter equivalent revenue for the
full year 2010 from USD 60-65 million to USD 65-70 million. The increased
activity is not expected to have any significant impact on the financial
results until 2011; consequently, expectations for EBITDA and pre-tax results
for 2010 remain unchanged. 

Nordic Tankers has issued warrants to employees and the Executive Board in
accordance with the guidelines for incentive pay schemes adopted at the general
meeting on 22 April 2010. 

For the full Interim report H1, please see attached.

Contact:
CEO Tommy Thomsen, phone (+45) 3910 9002
CFO Christian Hassel, phone (+45 3910 3010