American Shipping Company ASA : Primary Insider Disclosure

Dag F. Wittusen, CEO of American Shipping Company ASA ("AMSC" or the "Company"),
has today acquired 200,000 shares in AMSC, through his wholly controlled company
Beddingen Finans AS. The price per share was NOK 42.97, which implies a total
consideration of NOK 8,593,860.

Following the transaction, Beddingen Finans AS holds a total of 313,216 shares
in AMSC, constituting approximately 0.52% of the Company's shares and votes.

***

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



[HUG#1873433]