Exhibit 1

                   AMENDMENT TO RESTATED MANAGEMENT AGREEMENT

                  This Amendment to the Restated Management Agreement is made as
of 12 day of October, 2004, by and between Nordic American Tanker Shipping
Limited, a Bermuda company (the "Company"), and Scandic American Shipping Ltd.,
a Bermuda company ("Scandic").

                              W I T N E S S E T H:
                              - - - - - - - - - -

                  WHEREAS, the Company and Scandic are parties to a management
agreement restated as of June 30, 2004 (the "Restated Management Agreement");
and

                  WHEREAS, the Restated Management Agreement provides, inter
alia, that Scandic shall receive a commission equal to 1.25% of the gross
freight earned on chartering of the Company's vessels, as more fully set forth
in Clause 5(b) of the Restated Management Agreement;

                  WHEREAS, the Company and Scandic have agreed to amend Clause
5(b) of the Restated Management Agreement in order to delete the right of
Scandic to receive such commission, and to provide in exchange therefor, that
the Company shall issue to Scandic that number of common shares equal to 2% of
the Company's total outstanding common shares, subject to dilution protection
and restrictions on transferability.

                  NOW, THEREFORE, the parties hereby agreed as follows:

          1.   Clause  5(b) of the  Restated  Management  Agreement  is hereby
amended to delete the following sentence:

               "Scandic shall attempt to recharter the original three Vessels on
               an   arms-length   basis  upon  such  terms  as  Scandic  in  its
               discretion,  deems appropriate,  subject to the Board's approval.
               Scandic  shall  receive a commission  equal to 1.25% of the gross
               freight  earned  on the  rechartering  of the  Vessel in the spot
               market or from any time or other period  charter  employment  for
               such Vessels and any  additional  Vessels that the Company and/or
               any  subsidiary  of the Company may own,  acquire or control from
               time to time,  including  any  time  charter,  bareboat  charter,
               voyage charter, contract of affreightment or pool participation."

          2.   The following is added as Clause 5(c) of the Restated Management
Agreement:

               "The Company shall issue to Scandic  194,132 common shares of the
               Company,  equivalent  to 2% of the  Company's  total  outstanding
               common shares as of the date hereof,  as promptly as  practicable
               thereafter,  in exchange  for a payment by Scandic to the Company
               of  $1,941.32.  In the event the Company  shall issue  additional
               common  shares  to any third  party or  parties  (a "Third  Party
               Issuance"),  the  Company  shall also  issue  that  number of the
               additional  common  shares to the Manager such that the number of
               shares  issued  to  the  Manager   pursuant  to  this  Management
               Agreement  shall  equal  2% of the  Company's  total  outstanding
               common   shares  after  taking  into  account  such  Third  Party
               Issuance.  The common  shares  issued to the Manager  pursuant to
               this Agreement may not be transferred for a period of three years
               from their date of issuance and shall not be registered  with the
               SEC.  The   certificates   for  such  common  shares  shall  bear
               appropriate restrictive legends to such effect."

               IN WITNESS WHEREOF, the undersigned have executed this
Amendment to the Restated Management Agreement as of the date first above
written.


                                                NORDIC AMERICAN TANKER
                                                  SHIPPING LIMITED


                                                By
                                                   /s/_Herbjorn Hansson
                                                         ----------------------
                                                   Name: Herbjorn Hansson
                                                   Title: President and Chief
                                                          Executive Officer

                                                Scandic American Shipping Ltd.


                                                By
                                                   /s/_Herbjorn Hansson________
                                                   Name: Herbjorn Hansson
                                                   Title: Director
01318.0002 #521656