AMSC ASA - Major Shareholding Notification 2014

BCM, LLC'S POSITION IN AMERICAN SHIPPING COMPANY A S (AMSC NO) DECLINED BELOW 5% ON JANUARY 8, 2014.

Pursuant to Section 4-3 of the Norwegian Securities

Trading Act, we hereby notify you as follows:

1. name of the person subject to the notification

requirement: BRIGHTLINE CAPITAL MANAGEMENT, LLC

("BCM, LLC")

2. background for the notification: BCM, LLC'S

POSITION IN AMERICAN SHIPPING COMPANY A S (AMSC NO)

DECLINED BELOW 5% ON JANUARY 8, 2014.

3. name of the issuer: AMERICAN SHIPPING COMPANY A S

(AMSC NO)

4. description of the financial instrument: EQUITY

5. type of transaction: SALE TRANSACTION

6. timing and market for the transaction: JANUARY 8,

2014; OSLO BORS (OSE: OSLO)

7. price and volume of the transaction: ON JANUARY 8,

2014, BCM, LLC SOLD 760,000 SHARES OF AMSC NO @

39.2916

8. holding after the transaction: FOLLOWING THE

TRANSACTION ON JANUARY 8, 2014, BCM HELD 1,462,904

SHARES OF AMSC NO, WHICH REPRESENTED 2.5% OF THE

TOTAL SHARES OUTSTANDING OF AMSC NO ON JANUARY 8,

9. percentage of shares and votes in the company held

in form of rights to shares after the acquisition or

disposal which activates the notification: BCM, LLC

RECEIVED RIGHTS TO 855,456 SHARES OF AMSC NO ON

JANUARY 3, 2014, REPRESENTING 1.5% OF TOTAL SHARES

OUTSTANDING. INCLUDING SHARES HELD AND RIGHTS TO

RECEIVE SHARES, BCM, LLC OWNED 4% OF THE TOTAL SHARES

OUTSTANDING ON JANUARY 8, 2014.

10. information when rights may be exercised: RIGHTS

TO RECEIVE 855,456 SHARES EXERCISED ON JANUARY 13,

2014. SHARES WERE RECEIVED ON JANUARY 27, 2014.

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