Washington, D. C. 20549

                        Report of Foreign Private Issuer
                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934

                           For the month of July 2003

                 (Translation of registrant's name into English)

                                   Cedar House
                                 41 Cedar Avenue
                                  Hamilton HMEX
                    (Address of principal executive offices)

     Indicate  by check mark  whether the  registrant  files or will file annual
reports under cover Form 20-F or Form 40-F.

                           Form 20-F [X]      Form 40-F

     Indicate by check mark whether the registrant by furnishing the information
contained  in this  Form is  also  thereby  furnishing  the  information  to the
commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                                Yes [ ]     No [X]


     Attached  hereto is a copy of an earnings  and dividend  release  issued by
Nordic American Tanker Shipping Limited (the "Company") on July 10, 2003.


     BP Plc files  annual  reports on Form 20-F (File No.  1-6262) and  periodic
reports on Form 6-K with the Securities and Exchange  Commission pursuant to the
Securities Exchange Act of 1934, as amended.


Nordic American  Tanker  Shipping Ltd. (NAT) - (AMEX:  NAT) (OSE: NAT) announces
results for 2nd quarter 2003.

As of 06/30/03 (1st and 2nd quarter  2003) NAT had an operating  profit of $17.7
million as against $3.6 million during the same period last year. The net profit
for the first six months of 2003 was $16.8  million as against  $2.8  million in
the same period last year.  The increase in the earnings in the first six months
of 2003  compared  to the same  period in year 2002 is a result of tanker  rates
being stronger.

Strong  tanker  rates and the  results  for the 2nd  quarter of 2003  enable the
Company to pay a 3rd quarter  2003  dividend of $0.78 per share.  Including  the
dividend for the 3rd quarter of 2003,  the total dividend paid so far in 2003 is
$2.68 per share.  The total  dividend paid in 2002 and 2001 were $1.35 and $3.87
per share, respectively.  The 3rd quarter 2003 dividend of $0.78 will be paid on
or about August 15th to  shareholders  of record as of July 28th 2003.  The next
dividend payment from NAT will be declared in October 2003.

Under contracts with BP Shipping, NAT achieves rates that correspond to the spot
market  for  modern  Suezmax  tankers,  but not  below  $  22,000  per day  (T/C
equivalent),  which is the agreed minimum rate with BP Shipping. The spot market
for  modern  Suezmax  tankers  in the 2nd  quarter  of 2003 was above the agreed
minimum  rate the NAT  vessels  have with the  charterer  BP  Shipping.  The 2nd
quarter 2003 time charter (T/C)  equivalent  for the NAT vessels was $38,291 per
day  compared  to  $57,756  in the 1st  quarter  of 2003 and  $33,868 in the 4th
quarter of 2002.

The contracts for the NAT vessels are drawn up in a way that secures  income 365
days a year for the  vessels and no  off-hire.  The  contracts  with BP Shipping
commenced  on  October 1, 1997 and run for a minimum of 7 years and a maximum of
14 years if all options are declared.

The quarterly $ per day T/C  equivalent  for the NAT vessels has been as follows
since 1999:

Period            1999        2000         2001         2002           2003
1st Quarter      22,000      26,079       51,607       22,000         57,756
2nd Quarter      22,000      33,701       35,088       22,000         38,291
3rd Quarter      22,000      48,153       28,668       22,000
4th Quarter      22,000      59,059       22,617       33,868

NAT has 9,706,606 shares in issue.

The  results  for the 2nd  quarter  of 2003  and YTD 2003  compared  to the same
periods last year, are as follows:


                          01.01 - 06.30  01.01 - 06.30  2nd Qtr.    2nd tr.
                               2003          2002        2003        2002
                          -------------- -------------  --------    --------

Revenue                    21,432,128    7,330,500    8,132,941    3,685,500
Ship Broker Commissions       (91,631)     (91,631)     (46,069)     (46,069)
Management Fee Expense       (125,000)    (125,000)     (62,500)     (62,500)
Insurance Expense             (50,000)     (42,000)     (25,000)     (21,000)
Other Expenses                (85,001)     (18,356)     (24,964)      (2,505)
Depreciation                3,415,520)  (3,415,520)  (1,707,760)   (1,707,760)
                          -----------    ---------    ---------     ---------
Net Operating Income       17,664,976    3,637,993    6,266,648     1,845,666

Financial Income               11,695       11,468        6,782         5,326
Financial Expenses           (907,049)    (882,348)    (443,249)     (451,938)
                          -----------    ---------    ---------     ---------
Net Financial Items          (895,354)    (870,880)    (436,467)     (446,612)
                          -----------    ---------    ---------     ---------
Net Profit                 16,769,622    2,767,113    5,830,181     1,399,054
                          -----------    ---------    ---------     ---------

Earnings per Share               1.73         0.29         0.60          0.14
Cash Flow per Share              2.08         0.64         0.78          0.32

The quarterly dividend paid since the commencement in 1997 has been as follows:

Period           1997        1998         1999         2000           2001         2002          2003
1st Quarter                  0.40         0.32         0.34           1.41         0.36          0.63
2nd Quarter                  0.41         0.32         0.45           1.19         0.34          1.27
3rd Quarter                  0.32         0.35         0.67           0.72         0.33          0.78
4th Quarter      0.30        0.30         0.36         1.10           0.55         0.32
Total USD        0.30        1.43         1.35         2.56           3.87         1.35

Balance sheet for Nordic  American  Tanker  Shipping Ltd as of June 30, 2003 and
December 31, 2002 (Figures in USD)

                                        06/30/03                  12/31/02
Vessels                                131,497,445               134,912,965
Current assets                           4,502,489                 3,388,811
Cash deposits                              725,514                   277,783
Total assets                           136,725,448               138,579,559
Shareholder's equity                   106,690,084               108,363,097
Long term debt                          30,000,000                30,000,000
Current liabilities                         35,364                   216,462
Total liabilities & equity             136,725,448               138,579,559

At the annual  general  meeting of the company on May 30, 2003 is was decided to
novate the  management  agreement  from  Ugland  Nordic  Shipping  AS to Scandic
American Shipping Ltd.

In September 2002, the Company received a letter from the Norwegian  Central Tax
Office stating that the Central Tax Office had  determined  that the Company was
subject  to  Norwegian   income  taxation  for  the  years  1995  through  2000.
Notwithstanding  that the Company  believed that it had no taxable  income under
Norwegian tax principles in that period,  the Company  believed that the Central
Tax Office's determination was without merit and appealed the tax claim.

The Norwegian  Tax Appeal Board upheld the Company's  appeal of the claim of the
Norwegian  Central Tax Office that the  Company  should be subject to  Norwegian
income tax for the years 1995 to 2000. Accordingly, the tax claim was dismissed.

The Company is not currently  involved in any other legal proceedings that would
have a significant effect on the Company's financial position or profitability.

Each of the  company's  three  vessels are on firm charter to BP shipping  until
September 2004. After September 2004 each charter is subject to extension at the
option of the  charterer  for up to seven  successive  one-year  periods upon at
least twelve  months'  prior notice to the company of each such  extension.  The
first notice will have to be given in September 2003.

Without prejudice the Company sees the following scenarios for future employment
of the vessels:

     o    The  charterer BP Shipping  extends the  existing  charters for one or
          more of the vessels
     o    The vessels are chartered to BP Shipping on new renegotiated terms and
     o    BP Shipping does not extend the charteres and the vessels are employed
          in the spot tanker market.
     o    BP Shipping does not extend the charters and the company secures other
          long term  charteres  for the  vessels  with  other oil  companies  or
     o    BP Shipping  does not extend the charters and the vessels are sold and
          the net proceeds of such sale are  distributed to the  Shareholders of
          the Company.
     o    A combination of the above alternatives.

In the event BP Shipping Ltd. does not extend the  Company's  current  charters,
the Company will present to its shareholders a  recommendation  by the Company's
Board of  Directors  as to whether it  believes  that the sale of the  Company's
vessels is in the shareholders' best interests or whether an alternative plan as
outlined above, might be of greater benefit.  If BP Shipping does not extend the
charters  beyond  September  2004,  then at least six months  prior to September
2004,  the  Shareholdes of the Company will be entitled to vote on a proposal of
future  employment or sale of the vessels  presented by the  Company's  Board of

                                  July 10, 2003

Contacts:         Gary J. Wolfe
                  Seward & Kissel, New York, USA
                  Tel: (1) 212-574-1223, Fax: (1) 212-480-8421 or

                  Scandic American Shipping Ltd
                  P.O Box 56
                  3201 Sandefjord
                  Tel: (47)-33-44 61 40, or +47 901 46 291,
                       e-mail; or

                 Rolf Amundsen
                 Amundsen Partners, Oslo, Norway
                 Tel: + 47 908 26 906


     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.


Dated:  July 10, 2003                    By:/s/ Herbjorn Hansson
                                                Herbjorn Hansson
                                                President and
                                                Chief Executive Officer

01318.0002 #416516