| ADDENDUM      NO. 2 to                                                       |
|----------------------------------------------------------------------------------------|
| USD      500,000,000 REVOLVING      CREDIT FACILITY AGREEMENT                |
| for                                                                               |
| Nordic      American Tanker Shipping Limitedas      Borrower                      |
| provided by                                                                       |
| The Financial Institutionslisted      in Schedule 1 thereto as      Lenders  |
| with                                                                              |
| DnB      NOR Bank ASAas      Mandated Lead Arranger                               |
| and                                                                               |
| DnB NOR Bank      ASAas      Agent                                                     |
|                                                                                   |
|                                                                                   |
|                                                                                   |

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THIS ADDENDUMNO. 2 (the “Addendum”) is dated __ April2008 and made between:

| (1) | Nordic American Tanker Shipping      Limited, of LOM Building, 27 Reid Street, Hamilton HM 11, Bermuda,      as borrower (the “Borrower”); |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | The financial institutions      listed in Appendix      1 hereto,      as lenders (together, the “Lenders”); |
|-----|--------------------------------------------------------------------------------------------------------------------------|

| (3) | DnB NOR Bank ASA of      Stranden 21, N-0250 Oslo, Norway, organisation number 984 851 006, as      mandated lead arranger (the “Arranger”);      and |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (4) | DnB NOR Bank ASA of      Stranden 21, N-0250 Oslo, Norway, organisation number 984 851 006, as      facility agent (the “Agent”). |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

| (A) | This      Addendum is supplemental to the USD 500,000,000 Revolving Credit Facility      Agreement dated 14 September 2005 and as amended by addendum no. 1 dated      21 September 2006  (the “Original Agreement”) and      made between the Borrower, the Lenders, the Arranger and the Agent      relating to certain revolving credit facilities for an aggregate amount of      USD 500,000,000; |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      Borrower has requested and the Lenders have agreed to extend the Final      Maturity Date under the Original Agreement by three (3) years;      and |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (C) | the      Parties have agreed to amend certain of the provisions of the Original      Agreement as set out in thisAddendum. |
|-----|----------------------------------------------------------------------------------------------------------------------------|

| 1 | DEFINITIONS      AND INTERPRETATION |
|---|-------------------------------------|

| 1.1 | Defined      expressions |
|-----|--------------------------|

| 1.2 | References      to this Agreement |
|-----|-----------------------------------|

| 1.3 | Construction |
|-----|--------------|

| a) | words      denoting the singular number shall include the plural and vice      versa; |
|----|---------------------------------------------------------------------------------------|

----

| b) | references      to a provision of law is a reference to that provision as it may be      amended or re-enacted, and to any regulations made by the appropriate      authority pursuant to such law; and |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c) | clause      headings are inserted for convenience of reference only and shall be      ignored in the interpretation of thisAddendum. |
|----|--------------------------------------------------------------------------------------------------------------------------------------|

| 2 | CONDITIONS      PRECEDENT |
|---|---------------------------|

| 3 | AMENDMENTS      TO THE ORIGINAL AGREEMENT |
|---|-------------------------------------------|

| 3.1 | General |
|-----|---------|

| 3.2 | Amendments      to Clause 1.1 (Definitions) of the Original  Agreement |
|-----|------------------------------------------------------------------------|

| a) | The      definitions of the following terms in Clause 1.1 (Definitions) of the      Original Agreement shall be deleted and replaced with the following      definitions: |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | The      following new definitions shall be inserted in Clause 1.1 (Definitions) of      the Original Agreement: |
|----|------------------------------------------------------------------------------------------------------------------|

| 4 | AMENDMENT      FEE |
|---|--------------------|

----

| 6 | GOVERNING      LAW AND ENFORCEMENT |
|---|------------------------------------|

| 6.1 | Governing      law |
|-----|--------------------|

| 6.2 | Jurisdiction |
|-----|--------------|

| a) | For      the benefit of each Finance Party, the Borrower agrees that the courts of      Oslo, Norway, have jurisdiction to settle any disputes arising out of or      in connection with the Finance Documents including a dispute regarding the      existence, validity or termination of this Addendum, and the Borrower      accordingly submits to the non-exclusive jurisdiction of the Oslo District      Court (Oslotingrett). |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | Nothing      in this Clause 6.2 shall limit the right of the Finance Parties to      commence proceedings against the Borrower in any other court of competent      jurisdiction. To the extent permitted by law, the Finance Parties may take      concurrent proceedings in any number of  jurisdictions. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.3 | Service      of process |
|-----|-------------------------|

| a) | irrevocably      appoints Scandic American Shipping Ltd. (European Branch) of P.O. Box 56,      N-3201 Sandefjord, Norway as its agent for service of process in relation      to any proceedings before Norwegian courts in connection with any Finance      Document; and |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | agrees      that failure by its process agent to notify it of the process will not      invalidate the proceedingsconcerned. |
|----|------------------------------------------------------------------------------------------------------------------------------|

----

| Lender:                                                                         |
|---------------------------------------------------------------------------------|
|  DnB      NOR Bank ASA                                                |
|  Nordea      Bank Norge ASA                                           |
|  Fokus      Bank ASA (being the Norwegian branch of Danske Bank A/S)  |

----

| 1 | CORPORATE      DOCUMENTS - BORROWER |
|---|-------------------------------------|

| a) | Secretary’s      Certificate (notarised and legalised) confirming inter alia that the      Certificate of Incorporation and the Memorandum and Articles of      Association of the Borrower as presented to the Agent (on behalf of the      Finance Parties) in relation to the Original Agreement, are still in full      force and effect and no amendments have been made  thereto; |
|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| b) | Updated      Good Standing Certificate; |
|----|-----------------------------------------|

| c) | Resolutions      passed at a board meeting of the Borrower evidencing the approval of the      terms of, and the transactions contemplated by, the Addendum and the      authorisation of its appropriate officer or officers or other      representatives to execute the Addendum and any other documents necessary      for the transactions contemplated by the Addendum, on its behalf;      and |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d) | Power      of Attorney (notarised and legalised if requested by the      Agent). |
|----|----------------------------------------------------------------------------------|

| 2 | AUTHORISATIONS |
|---|----------------|

| a) | All      approvals, authorisations and consents required by any government or other      authorities for the Borrower to enter into and perform its obligations      under this Addendum. |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3 | FINANCE      DOCUMENTS |
|---|------------------------|

| a) | The      Addendum. |
|----|--------------------|

| 4 | MISCELLANEOUS |
|---|---------------|

| a) | Evidence      that the fee referred to in 4 (Amendment fee) has or will be paid on its      due date; |
|----|-------------------------------------------------------------------------------------------------------|

| b) | A      Compliance Certificate confirming that the Borrower is in compliance with      the financial covenants as set out in Clause 20 (Financial covenants) of      the Agreement; |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| c) | Appointment      of Scandic American Shipping Ltd. and the acceptance by Scandic American      Shipping Ltd. (European Branch) as the Borrower’s process agent in Norway      under the Addendum; |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| d) | The      letter regarding effective interest duly counter-signed by the Borrower;      and |
|----|--------------------------------------------------------------------------------------------|

| e) | Any      other documents as reasonably requested by the  Agent. |
|----|-----------------------------------------------------------------|

| 5 | LEGAL      OPINIONS |
|---|---------------------|

| a) | A      legal opinion as regards Bermuda law matters issued by Appleby Spurting      & Hunter; |
|----|---------------------------------------------------------------------------------------------------|

| b) | A      legal opinion as regards Norwegian law matters issued by Thommessen      Krefting Greve Lund AS. |
|----|---------------------------------------------------------------------------------------------------------|

----

| Borrower:                                                               |   | Agent:                |
|-------------------------------------------------------------------------|--------|-----------------------|
| Nordic      American Tanker Shipping Limited                            |   | DnB      NOR Bank ASA |
|                                                                    |   |                  |   |   |
| By:                                                                     |   |                  | By: |   |
| Name:                                                                   |   |                  | Name: |   |
| Title:                                                                  |   |                  | Title: |   |
|                                                                    |   |                  |   |   |
|                                                                    |   |                  |   |   |
| Lenders:                                                                |   |                  |   |
| DnB      NOR Bank ASA                                                   |   |                  |
|                                                                    |   |                  |   |   |
| By:                                                                     |   |                  |   |   |
| Name:                                                                   |   |                  |   |   |
| Title:                                                                  |   |                  |   |   |
|                                                                    |   |                  |   |   |
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| Nordea      Bank Norge ASA                                              |   |                  |   |
|                                                                    |   |                  |   |   |
| By:                                                                     |   |                  |   |   |
| Name:                                                                   |   |                  |   |   |
| Title:                                                                  |   |                  |   |   |
|                                                                    |   |                  |   |   |
|                                                                    |   |                  |   |   |
| Fokus      Bank ASA(being      the Norwegian branch of Danske Bank A/S) |   |                  |
|                                                                    |   |                  |   |   |
| By:                                                                     |   |                  |   |   |
| Name:                                                                   |   |                  |   |   |
| Title:                                                                  |   |                  |   |   |
|                                                                    |   |                  |   |   |
|                                                                    |   |                  |   |   |
| Arranger:                                                               |   |                  |   |
| DnB      NOR Bank ASA                                                   |   |                  |   |
|                                                                    |   |                  |   |   |
| By:                                                                     |   |                  |   |   |
| Name:                                                                   |   |                  |   |   |
| Title:                                                                  |   |                  |   |   |
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