American Shipping Company ASA announces management change

American Shipping Company ASA today announced that, effective December

31, 2009, Robert K. Kurz will resign from his position as President and Chief

Executive Officer to pursue other opportunities.

- On behalf of the Board of Directors, I would like to thank Rob for his vision,

dedication and outstanding leadership over the past two years. Rob was

instrumental in establishing American Shipping Company as a separate,

independent entity and the premier owner and lessor of Jones Act product

tankers, said Robert Caruso, Chairman of the Board.

About American Shipping Company ASA

American Shipping Company ASA (AMSC) owns and leases world-class quality vessels

for operation between ports in the United States. When the current series of

ten tankers is completed in 2011, AMSC will own the most modern product tanker

fleet in the United States.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1370050]

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