American Shipping Company ASA : Mandatory notification of trade

Reference is made to previous stock exchange announcements, i.a. on  27 June
2013 and 23 December 2013, issued by Converto Capital Fund AS ("CCF"), a
subsidiary of Aker ASA, relating to a TRS agreement with financial exposure to
9,182,520 underlying shares in American Shipping Company ASA ("AMSC"), equal to
15.15 per cent of the share capital of AMSC with final expiry date on June
27, 2014. The swap may be issued as three months rolling contracts and CCF has
today entered into a new contract with expiry 27 June 2014, with a swap price of
NOK 41.3198  per share.

As per today, CCF  holds 11,557,022 shares in AMSC, equaling 19.07 per cent of
the shares and votes of AMSC. In addition to the financial exposure provided by
the said swap agreement, CCF also has, as previously announced, financial
exposure to 4,005,100 shares in AMSC under a total return swap agreement, equal
to 6.61 % of the share capital of AMSC.

Lars Solbakken, CEO of Ocean Yield ASA, a subsidiary of Aker ASA, is a board
member of AMSC.

The information contained herein is subject to the disclosure requirements of
section 4-2 of the Norwegian Securities Trading Act.



[HUG#1769104]