American Shipping Company ASA : LENDERS' CONSENT TO EXTENSION OF VESSEL LOANS

American Shipping Company ASA (Oslo: AMSC) has received lenders' consent to the
extension of the company's vessel debt to June 30, 2016 on terms required for
the extension of AMSC's bareboat charters with Overseas Shipholding Group (OSG)
to December 2019.

The consent is subject to completion of loan documentation as well as OSG's
review of loan terms and confirmation of bareboat charter extensions.

For further information please contact:

Dag Fasmer Wittusen

President & CEO

+47 916 30002


This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.


[HUG#1610942]