American Shipping Company ASA : Purchase of treasury shares

Oslo, 16 May 2014 - Reference is made to American Shipping Company ASA's ("ASMC"
or the "Company") stock exchange notice on 13 May 2014 where AMSC announced its
intent to purchase 100,000 treasury shares in connection with its incentive
scheme for employees. AMSC has today purchased 31,000 shares in the Company on
Oslo Børs at an average price of NOK 52.258 per share, which implies a total
consideration of NOK 1,619,998. The purchase of treasury shares was carried out
in accordance with an authorization granted by the Annual General Meeting of the
Company held on 23 April 2014.

Following the transaction AMSC holds a total of 69,000 treasury shares,
constituting approximately 0,114% of the Company's shares and votes.

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



[HUG#1786642]