American Shipping Company ASA : Purchase of treasury shares

13 January 2015 - On 23 April 2014, the Annual General Meeting of American
Shipping Company ASA ("AMSC" or the "Company") granted the Board of Directors of
AMSC an authorization to purchase treasury shares in connection with the
Company's incentive scheme for employees. In accordance with this authorization,
the Company has today placed an order with an investment broker for purchase of
20,000 treasury shares, with execution from 15 January 2015 and onwards. The
treasury shares will be sold to the Company's CEO, Pål Magnussen, in accordance
with the terms and conditions in share purchase agreement entered into between
AMSC and the CEO on 9 January 2015, as further detailed in the stock exchange
notice dated the date thereof.
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About American Shipping Company ASA:

AMSC is a shipowning company with ten modern handy size product tankers on long
term bareboat charter with Overseas Shipholding Group (OSG). OSG charters the
vessels out on time charters to major oil companies in the U.S. coastwise Jones
Act trade. AMSC has a significant contract backlog as well as a profit sharing
agreement with OSG which offers visibility with respect to future earnings and
potential dividend capacity. The Company has an ambition to pay attractive and
growing dividends to its shareholders.

For further information, please contact:

Annette Malm Justad, Chairman of AMSC's Board of Directors

Oslo, Norway

+47 952 09396



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


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