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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 2
Name of Issuer: Nordic American Tanker Shipping Limited
Title of Class of Securities: Common Shares
CUSIP Number: G65773106
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Herbjorn Hansson, c/o Ugland Nordic Shipping ASA,
Thor Dahls gt. 1-3, P.O. Box 54, 3201 Sandefjord, Norway
(Date of Event which Requires Filing of this Statement)
March 22, 1999
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of Rule
13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter disclosures provided in
a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. G65773106
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
UGLAND NORDIC SHIPPING ASA
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b) x
3. SEC USE ONLY
4. SOURCE OF FUNDS*
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) of 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Norway
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH:
7. SOLE VOTING POWER
2,043,771
8. SHARED VOTING POWER
9. SOLE DISPOSITIVE POWER
2,043,771
10. SHARED DISPOSITIVE POWER
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,043,771
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
X
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.06%
14. TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
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CUSIP No. G65773106
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SKIPSAKSJESELSKAPET VESTFOLD
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a)
(b) x
3. SEC USE ONLY
4. SOURCE OF FUNDS*
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) of 2(e)
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Norway
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON
WITH:
7. SOLE VOTING POWER
14,500
8. SHARED VOTING POWER
9. SOLE DISPOSITIVE POWER
14,500
10. SHARED DISPOSITIVE POWER
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,500
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
X
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.15%
14. TYPE OF REPORTING PERSON*
CO
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
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The purpose of this Amendment No. 2 to the previously filed
Schedule 13D is to report that the ownership of Ugland Nordic
Shipping ASA ("Ugland") and Skipsaksjeselskapet Vestfold ("SV";
together with Ugland, the "Reporting Persons") in the Common
Shares, $.01 par value (the "Shares"), of Nordic American Tanker
Shipping Limited (the "Issuer") has increased. The ownership of
Ugland has increased from 20.54% to 21.06% of the total Shares
outstanding. The ownership of SV has increased from .01% to .15%
of the total Shares outstanding.
Item 1. Security and Issuer
No change.
Item 2. Identity and Background
This statement is being filed on behalf of Ugland and
SV. SV is a Norwegian company owned by Herbjorn
Hansson. Herbjorn Hansson is the sole director of
Svana, the President and Chief Executive Officer of
Ugland, a publicly owned Norwegian shipping company.
The address for Ugland is Thor Dahls gt.1-3, P.O. Box
54, 3201 Sandefjord, Norway. The address for SV is
Bekkasinveien 12, 3212 Sandefjord, Norway.
None of the Reporting Persons has, during the last five
years, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
None of the Reporting Persons has, during the last five
years, been a party to a civil proceeding of a judicial
or administrative body of competent jurisdiction which
resulted in a judgment, decree or final order enjoining
future violations of, or prohibiting or mandating
activities subject to federal or state securities laws
or finding any violations with respect to such laws.
Herbjorn Hansson is a citizen of Norway.
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof, Ugland owns 2,043,771 Shares and
SV owns 14,500 Shares.
SV purchased 13,000 Shares on March 22, 1999 at a price
of $11.25 per Share for an aggregate purchase price of
$146,250. The source of funds for the purchase of the
Shares is the working capital of SV. No funds were
borrowed to purchase any of the Shares.
Ugland purchased 50,000 shares on March 26, 1999 at a
price of $11.375 per Share for an aggregate purchase
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price of $568,750. The source of funds for the purchase
of the Shares is the working capital of Ugland. No
funds were borrowed to purchase any of the Shares.
Item 4. Purpose of Transactions
No change.
Item 5. Interest in Securities of Issuer
As of the date hereof, Ugland owns 2,043,771 Shares and
SV owns 14,500 Shares. Herbjorn Hansson is deemed to
beneficially own 30,000 Shares, including the 14,500
shares owned by SV. As of the date hereof, there were
9,706,606 Shares outstanding. Therefore, Ugland owns
21.06% of the outstanding Shares, SV owns .15% of the
outstanding Shares and Herbjorn Hansson owns .31% of the
outstanding Shares. The Reporting Persons have the sole
power to vote, direct the vote, dispose of or direct the
disposition of all the Shares that they own. All
transactions in the Shares effected by the Reporting
Persons since the most recent filing on Schedule 13D
were effected in open-market transactions and are set
forth in Exhibit 1.
SV disclaims beneficial ownership of the Shares owned by
Ugland pursuant to Rule 13d-4.
Herbjorn Hansson disclaims beneficial ownership of the
securities covered by this Schedule 13-D pursuant to
Rule 13d-4.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer
No change.
Item 7. Material to be Filed as Exhibits
1. A description of the transactions in the Shares
that were effected by the Reporting Person.
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Signature
The undersigned, after reasonable inquiry and to the
best of its knowledge and belief, certifies that the information
set forth in this statement is true, complete and correct.
UGLAND NORDIC SHIPPING ASA
By: /s/ Herbjorn Hansson
Herbjorn Hansson
President and Chief
Executive Officer
SKIPSAKSJESELSKAPET VESTFOLD
By: /s/ Herbjorn Hansson
Herbjorn Hansson
President and Chief
Executive Officer
April 6, 1999
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Exhibit 1
SCHEDULE OF TRANSACTIONS- SV
Price Per Share
Date Shares Purchased (excluding commission)
____ ________________ ______________________
3/22/99 13,000 $11.25
SCHEDULE OF TRANSACTIONS- UGLAND
Price Per Share
Date Shares Purchased (excluding commission)
____ ________________ ______________________
3/26/99 50,000 $11.375
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01318002.AW1
