AMSC ASA - Delisting Announcement 2017

American Shipping Company ASA : Approved to trade on the OTCQX Market in the U.S.

American Shipping Company ASA ("AMSC" or the "Company"), one of the largest

owners of vessels operating in the U.S. Jones Act market, announced today that

the Company's ordinary shares have been approved to trade on the OTCQX Best

Market. Effective today, 2 November 2017, AMSC's ordinary shares are available

for trading in the United States on OTCQX under the symbol "ASCJF".

The OTCQX International Tier of the OTCQX Best Market is designed for

established, investor-focused international companies that have met high

financial standards, follow best practice corporate governance, are current in

their home country financial reporting and have been sponsored by a professional

third-party advisor. The OTCQX market is considered by the SEC as an

"established public market" for the purpose of determining the public market

price of a security. Trading on OTCQX indicates that a company is committed to

providing a transparent market for its investors and maintaining high financial

and operating standards.

American Shipping Company ASA's Chief Executive Officer Pål Magnussen said in a

comment: "AMSC is a leading pure play Jones Act tanker owner with modern assets

contracted on long-term leases. As U.S. crude oil production continues to

increase, we are seeing renewed interest in the Jones Act tanker market, an

important component in U.S. oil majors' transportation logistics. We are

pleased to create a new channel for increasing transparency and awareness of

AMSC and the Jones Act tanker market through our OTCQX quotation. The quotation

will also facilitate trading in our stock in U.S. dollars to make it easier for

U.S. investors to invest in our company. "

U.S. investors can find current financial disclosures and Real-Time Level 2

quotes for American Shipping on www.otcmarkets.com/stock/ASCJF/quote

About American Shipping Company

Established in 2005 and listed on the OSE, AMSC is a ship owning company with

nine modern handy size product tankers and one modern handy size shuttle tanker

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 dividends to its shareholders. Further information is available at

www.americanshippingco.com.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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