AMSC ASA - Board/Management Information 2015

American Shipping Company ASA : Appoints Morten Hofstad as Chief Financial Officer

Oslo, 6 July 2015 - American Shipping Company ASA (OSE:AMSC), today announced

the appointment of Morten Hofstad as Chief Financial Officer (CFO) of the

Company, effective immediately.

A Norwegian national, Mr. Hofstad (36) comes from the position of Investment

Director with Converto where he was part of the founding team in 2009, being

responsible for several of Converto Capital Fund's portfolio companies. Mr.

Hofstad has also held a number of non- executive directorships in Norwegian

public and private companies. Prior to Converto, he worked within corporate- and

investment banking as well as in the oil service industry. Mr. Hofstad holds an

MSc in Business and Economics from the Norwegian School of Economics and

Business Administration (NHH) and ITAM, Mexico City.

In announcing the appointment, Pål Lothe Magnussen, Chief Executive Officer of

AMSC, commented, "I am pleased to have Morten join our executive team. He brings

a wealth of knowledge from financing, active ownership and transactions. I look

forward to his contribution to AMSC going forward".

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About American Shipping Company ASA:

AMSC is a ship owning company with nine modern handy size product tankers and

one modern handy size shuttle tanker all on long term bareboat charter with

Overseas Shipholding Group (OSG). OSG charters the vessels out on time charters

to major oil companies in the U.S. coastwise Jones Act trade. AMSC has a

significant contract backlog as well as a profit sharing agreement with OSG

which offers visibility with respect to future earnings and potential dividend

capacity. The Company has an ambition to pay attractive and growing dividends

to its shareholders.

Contacts at American Shipping Company ASA:

Pål Magnussen, CEO

Oslo, Norway

Tel: +47 90 54 59 59

[HUG#1935170]

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