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 January 2004

                 (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

                                    Yes    No X
                                       ---   ---


         Attached hereto is a copy of an earnings release issued by Nordic
American Tanker Shipping Limited (the "Company") on January 14, 2004, announcing
its fourth quarter earnings and first quarter dividend payment.


         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 4th quarter 2003 .

As of 12/31/03 (full year 2003) NAT had an operating profit of $29.9 m as
against $10.6 m during the same period last year. The net profit for 2003 was
$28.1 m as against $8.8 m in the same period last year. The 4th quarter 2003 net
profit was $9.6 m as against $4.6 m in 2002. The increase in the earnings in
2003 compared to 2002 is a result of tanker rates being stronger in 2003.

The results for the 4th quarter of 2003 enable the Company to pay a 1st quarter
2004 dividend of $1.15 per share. The total dividend paid in 2003 was $3.05 per
share. The total dividend paid in 2002 and 2001 were $1.35 and $3.87 per share,
respectively. The 1st quarter 2004 dividend of $1.15 will be paid on or about
February 16th to shareholders of record as of January 28th 2004. The next
dividend payment from NAT will be declared in April 2004.

Under the 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 4th quarter of 2003 was above the agreed
minimum rate the NAT vessels have with the charterer BP Shipping. The 4th
quarter 2003 time charter (T/C) equivalent for the NAT vessels was $51,501 per
day compared to $23,243 in the 3rd quarter, $38,291 in the 2nd quarter and
$57,756 in the 1st quarter of 2003.

The existing 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 will terminate on 1 October 2004 (see

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

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      23,243
4th Quarter       22,000      59,059      22,617      33,868      51,501

NAT has 9,706,606 shares in issue.

The results for the 4th quarter of 2003 and 2004 compared to the same periods
last year, are as follows:

All figures in USD
                        01.01 - 12.31  01.01 - 12.31    4th Qtr.      4th Qtr.
                             2003           2002          2003          2002
----------------------  -------------  -------------  -------------  ----------
Revenue                  37,370,756    18,057,989    11 ,868,306    7,001,489
Ship Broker Commissions    (184,781)     (184,781)       (46,575)     (46,575)
Management Fee Expense     (250,000)     (250,000)       (62,500)     (62,500)
Insurance Expense          (101,666)      (86,667)       (26,666)     (23,667)
Other Expenses             (116,421)      (90,381)        (5,302)     (57,000)
Depreciation             (6,831,040)   (6,831,040)    (1,707,760)  (1,707,760)
                        -------------  -------------  -------------  ----------
Net Operating Income     29,886,848    10,615,120     10,019,503    5,103,987

Financial Income             26,462        21,409          6,487        4,573
Financial Expenses       (1,813,021)   (1,789,261)      (461,525)    (462,140)
                        -------------  -------------  -------------  ----------
Net Financial Items      (1,786,559)   (1,767,852)      (455,038)    (457,567)
                        -------------  -------------  -------------  ----------
Net Profit               28,100,289     8,847,268      9,564,465    4,646,420
                        -------------  -------------  -------------  ----------

Earnings per Share             2.89          0.91           0.99         0.48
Cash Flow per Share            3.60          1.62           1.16         0.65

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

Period          1997    1998     1999     2000    2001    2002   2003    2004
1st Quarter             0.40     0.32     0.34    1.41    0.36   0.63    1.15
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   0.37

Total USD       0.30    1.43     1.35     2.56    3.87    1.35   3.05

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

                                  12/31/03                  12/31/02
Vessels                        128,081,925               134,912,965
Current assets                   8,248,449                 3,388,811
Cash deposits                      565,924                   277,783

Total assets                   136,896,298               138,579,559

Shareholder's equity           106,857,976               108,363,097
Long term debt                  30,000,000                30,000,000
Current liabilities                 38,322                   216,462

Total liabilities & equity     136,896,298               138,579,559

As previously announced by the Company, BP Shipping the charterer of the
Company's 3 Suezmax tankers, has not delivered notice of exercise of its options
to extend the charters. Accordingly, the existing charters will terminate on
October 1, 2004, subject to a redelivery window for the vessels of between
September 1, 2004 and November 1, 2004.

Under the Company's Bye-Laws, the Company is obligated to call a special meeting
of shareholders no later than April 1, 2004, to consider a proposal to sell the
vessels and distribute the net proceeds to shareholders or to assess other
alternatives. The proposal is to be accompanied by the recommendation of the
Company's Board of Directors as to whether it believes that the sale of the
vessels is in the Company's best interests, or whether an alternative plan, such
as attempting to arrange replacement charters, might be of greater benefit.

In the absence of the renewal by BP Shipping of its option for all 3 vessels,
the following alternatives are possible:

     o    The renegotiation by the Company and BP Shipping of the charters.

     o    The employment by the Company of the vessels in the spot market as
          from October 1, 2004.

     o    The long-term charter of the vessels to other end-users than BP

     o    The sale of the vessels and the distribution of the proceeds to the
          company's shareholders.

     o    Any combination of these alternatives.

In connection with the special shareholders' meeting, the Board is expected to
consider whether the alternatives other than the sale of all of the vessels,
might be of greater benefit to shareholders.

During the last few weeks the Company has been approached by major international
shipping and energy companies, expressing an interest in co-operating with the

                                January 13, 2004

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

               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


Matters discussed in this press release may constitute forward-looking
statements. 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.

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," "except," "anticipate," "intends," "estimate," "forecast," "project,"
"plan," "potential," "will," "may," "should," "expect" "pending and similar
expressions identify forward-looking statements.

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. 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.

In addition to these important factors, 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 charterhire
rates and vessel values, changes in demand in the tanker market, as a result of
changes in OPEC's petroleum production levels and world wide oil consumption and
storage, changes in the Company's operating expenses, including bunker prices,
drydocking and insurance costs, the market for the Company's 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, and other important factors described from time to time in the
reports filed by the Company with the Securities and Exchange Commission.


         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:  January 16, 2004                      By:/s/ Herbjorn Hansson
                                                     Herbjorn Hansson
                                                     President and
                                                     Chief Executive Officer

01318.0002 #457151