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 February 2006

                 (Translation of registrant's name into English)

                                   Reid House
                                31 Church Street
                                 Hamilton HM FX
                    (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  as  Exhibit 1 is a copy of the  press  release  issued by
Nordic  American  Tanker  Shipping  Limited (the "Company") on February 7, 2006,
announcing its dividend and earnings in respect of the 4th quarter 2005.


Exhibit 1

Nordic American Tanker Shipping Ltd. (NAT)-(NYSE:NAT)
Announces dividend and earnings in respect of the 4th quarter 2005.

Hamilton, Bermuda, February 7th 2006

Nordic  American Tanker  Shipping  Limited (the  "Company")  today announced its
results  for the 4th  quarter  of 2005.  The  tanker  market  was  significantly
stronger in the 4th  quarter of 2005 than in the  preceding  quarter,  producing
solid  earnings  per share and giving  room for the highest  quarterly  dividend
payment per share since the Company's inception.  The Company has now declared a
dividend over the past 33 consecutive quarters since the autumn of 1997. A solid
tanker market has continued into 2006.


     o    The Board of Directors  has declared a dividend of $1.88 per share for
          the 4th quarter of 2005

     o    4th quarter 2005 net income was $1.51 per share.

     o    The Company's  earnings from vessels in the spot market during the 4th
          quarter 2005 were much higher than in the 3rd quarter 2005  reflecting
          the strengthened  conditions  across all tanker market  segments.  The
          Imarex  Index for Suezmax  vessels in 4th quarter 2005 was $64,002 per
          day compared to $24,677 per day in the 3rd quarter 2005.

     o    The  Company's  8th  vessel,  the Nordic  Saturn,  joined the fleet on
          November 7th, producing revenues in 53 days of the 4th quarter.

     o    No vessels were in drydock during the 4th quarter.

Dividend per Share, Earnings per Share and Financials:

The Company's  growth  policy - manifested by its expansion  from three to eight
vessels in 14 months - has bolstered  the Company's  earnings and our ability to
pay dividends.  The 4th quarter 2005 earnings show that the Company's  policy of
growth through accretive acquisitions has produced positive results.

The Board has  declared  a  dividend  of $1.88 per share in  respect  of the 4th
quarter of 2005.  This  compares  to a  dividend  of $1.62 in respect of the 4th
quarter of 2004. The 3rd quarter 2005 dividend was $0.60 per share. The dividend
of $1.88  will be paid on or about  March  2nd to  shareholders  of record as of
February 16th 2006.

Net income was $25.1m for the 4th quarter of 2005 or $1.51 per share (EPS). This
compares  to a net  income of $8.8m or $0.79 per  share for the 4th  quarter  of
2004. The net income for the third quarter of 2005 was $4.3m or $0.26 per share.

Operating  cash flow(*) was $32.8m in the 4th quarter of 2005 compared to $20.4m
in the 4th quarter of 2004.  The operating cash flow for the 3rd quarter of 2005
was $10.4m.

(*)  Operating cash flow is a non-GAAP financial term often used by investors to
     measure financial  performance of shipping  companies.  Operating cash flow
     represents income from vessel  operations  before  depreciation and certain
     non-cash  administrative charges. Please see page 6 for a reconciliation of
     this  non-GAAP  measure  as used  in  this  release  to the  most  directly
     comparable GAAP financial measure.

No vessels were in dry dock during the 4th quarter 2005 and there are no vessels
scheduled for dry dockings during the 1st quarter of 2006.

The table  below  shows the  number  of vessel  revenue  days over the last five
quarters for all the vessels, reflecting the growth of the company.

Period               4q04         1q05          2q05         3q05         4q05
Revenue days         314           371          549          576          697

For the 4th  quarter of 2005,  operating  costs of our  vessels  and general and
administrative costs were according to our expectations.

Earnings per share for the 4th quarter 2005 were impacted by a non-cash  general
and  administrative  charge of $0.4m associated with the 2004 stock option plan.
At year-end  2005 the exercise  price for these  options  exceeded the Company's
share price on the NYSE. For further details on the accounts,  please see at the
end of this message.

Seven of the  Company's  eight  vessels are now trading in the spot market or on
spot related terms,  whilst one ship remains  employed on a long term fixed rate

The Market:

According to the spot  assessment  of the Imarex  Tanker  Index,  which gives an
indication  of the level of the spot market,  Suezmax spot rates were on average
$64,002 for the 4th quarter of 2005,  compared to $24,677 per day during the 3rd
quarter of 2005. The Imarex index for Suezmax spot rates were on average $47,269
per day for January 2006.

The Suezmax  market in the 4th  quarter of 2005 shows  tight  supply of vessels,
leaving the market finely tuned with high capacity utilization.

The  world's  Suezmax  fleet  stood at 324 vessels at the end of the 4th quarter
2005, compared with 303 vessels at the start of 2005. Seventy-seven (77) Suezmax
vessels  were single hull which are  expected  to be  mandatorily  phased out by
2010. There were sixty seven (67) Suezmax vessels on order at the end of the 4th
quarter 2005.

The Company's  expressed  policy is to own only modern double hull vessels.  For
the Company it is therefore particularly  interesting to note that two major oil
companies have adopted a policy of not chartering single hull vessels in advance
of the regulatory change.

On the demand side the macro economic  development of the Far East in particular
and also in the United  States  (both of whom  import oil long  distances)  will
largely determine the demand for our tankers in the time to come.

In a recent report the  Organization  for Economic  Cooperation  and Development
(OECD) states that economic growth in China has averaged 9.5% per annum over the
past two decades and seems likely to continue at that pace for some time.  China
is now to a larger degree than  previously  sourcing oil from areas such as West
Africa and  Venezuela.  Change in trading  patterns could  therefore  impact the
transportation demand.

According  to the  International  Energy  Agencies  (IEA),  world oil  demand is
expected to increase by 2.2% in 2006 as compared with 1.3% in 2005,  pointing at
rebounding demand in the United States and China.

On the supply side, the deliveries of tankers over the next 24 to 36 months from
the shipyards can be estimated with a high degree of certainty, as the shipyards
more or less are expected to operate at full  capacity  with their present order
books.  While it is expected  that short term spot rates may vary  significantly
and continue to be volatile,  the supply and demand tanker  market  fundamentals
are in the  Company's  view positive - a finely tuned balance with high capacity


The Company has an established and unique operating model. The main objective of
the Company  continues to be value creation via a transparent,  predictable  and
simple strategic  platform.  For the foreseeable  future, the Company intends to
continue  building  on the same  basis.  The  Company  wishes to maintain a high
exposure to the spot market whilst a certain amount of term charter  coverage is
also being contemplated.

The full dividend payout policy will continue.  In this phase of development and
with our present  fleet the Board has  determined  that the  Company  intends to
target  non-retiring debt on the balance sheet in the region of $130m,  which is
the present  level.  Two (25%) out of eight vessels are now debt financed as the
Company  took on this debt in  connection  with the last two vessels  which were
delivered to the Company in August 2005 and November 2005. In the Company's view
this is an  appropriate  debt/equity  ratio for the  Company.  The  dividend  is
calculated  on  the  basis  of  net  operating  cash  flow(**)  divided  by  the
outstanding number of shares.

(**) Net operating cash flow represents net income plus depreciation and certain
     non-cash  administrative  charges.  In  view  of the  Company`s  policy  of
     maintaining  a certain level of debt on its balance  sheet,  the Company is
     calculating its dividend on the basis of net operating cash flow.

The Company is focusing on  maintaining a strong  balance sheet with low debt to
equity ratio and a low cash breakeven.  A growth strategy is an inherent part of
the Company's operating model. This strategy will continue.

Amounts in USD '000


                                                     Three Months Ended                   Twelve Months Ended
                                         Dec. 31,        Dec. 31,      Sept. 30,        Dec. 31,
                                           2005            2004           2005            2005          Dec. 31,
                                        (unaudited)     (unaudited)   (unaudited)     (unaudited)         2004
NET VOYAGE REVENUE                          37,571        22,711        14,405            86,129        62,526
Vessel operating expenses                   (3,510)       (1,818)       (3,144)          (11,221)       (1,977)
Depreciation                                (5,796)       (1,795)       (4,842)          (17,529)       (6,918)
General and administrative costs            (1,617)       (9,699)       (1,170)           (8,492)*     (1,0851)
                                           (10,923)      (13,312)       (9,156)          (37,242)      (19,746)
Income from vessel operation                26,648         9,399         5,249            48,887        42,780

Interest income                                129           101           170               850           142
Interest expense                            (1,674)         (708)       (1,101)           (3,420)       (2,106)
                                            (1,545)         (607)         (931)           (2,570)       (1,964)
NET INCOME                                  25,103         8,792         4,318            46,317        40,816
Earnings per average number of shares         1.51          0.79          0.26              3.03          4.05
Weighted average number of shares       16,644,496    11,185,664    16,644,496        15,263,622    10,078,391
Common shares outstanding               16,644,496    13,067,838    16,644,496        16,644,496     13,067,83

*)   The G&A for the twelve months ended Dec. 31, 2004 and Dec. 31, 2005 include non-cash charges of $9.2m and
     $3.6m  respectively which are one time charges related to the issuance of restricted shares in connection
     with the follow-on offering of November 2004 and March 2005.


                                                Dec. 31, 2005    Dec. 31, 2004
Cash deposits                                         14,240            30,732
Other assets                                          27,671             6,170
Vessels                                              463,933           187,301
Total Assets                                         505,844           224,203

Accounts payable and accrued liabilities               4,972             2,335
Long-term debt                                       130,000                 0
Shareholders' equity                                 370,872           221,868
Total liabilities and shareholders' equity           505,844           224,203


                                                         Twelve months ended
                                                        Dec. 31,       Dec. 31,
                                                          2005         2004
Net cash from Operating Activities                         51,056      62,817

Net proceeds from sale of Common Stock                    161,967     112,138
Proceeds from use of Credit Facility                      135,000      96,000
Repayment of debt                                         (5,000)    (126,000)
Loan facility costs                                       (1,075)      (1,456)
Dividends paid                                           (64,279)     (47,196)
Net Cash provided 4by (used for) Financing Activities     226,613      33,486

Investment in Vessels                                   (294,161)     (66,137)
Net cash used by investing activities                   (294,161)     (66,137)
Net Increase in Cash and Cash Equivalents                (16,492)      30,166
Beginning Cash and Cash Equivalents                       30,732          566
Ending Cash and Cash Equivalents                          14,240       30,732


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,"  "anticipate,"  "intend," "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. We undertake no obligation to update
any forward-looking  statement,  whether as a result of new information,  future
events or otherwise.

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 world
wide 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.



                     Scandic American Shipping Ltd
                     Manager for:
                     Nordic American Tanker Shipping Ltd.
                     P.O Box 56, 3201 Sandefjord, Norway
                     Tel: + 47 33 42 73 00

                     Rolf Amundsen
                     Chief Financial Officer
                     Nordic American Tanker Shipping Ltd.
                     Tel: +1 800 601 9079 or + 47 908 26 906

                     Herbjorn Hansson
                     Chairman & CEO
                     Nordic American Tanker Shipping Ltd.
                     Tel:  +1 866 805 9504 or + 47 901 46 291


     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:  February 16, 2006              By: /s/ Herbjorn Hansson
                                             Herbjorn Hansson
                                             Chairman, Chief Executive Officer
                                             and President

01318 0002 644886