American Shipping Company ASA : Primary insider disclosure

19 January 2015 - Pål Magnussen, the CEO of American Shipping Company ASA
("AMSC" or the "Company"), has today acquired 20,000 shares in AMSC from the
Company. The price per share was NOK 27.20, a total consideration of NOK
544,000, which constitutes today's closing price, less a price reduction of 20%
to compensate for the lock-up restrictions on the shares for a period of three
years.

The acquisition was carried out in accordance with the share purchase agreement
entered into between the Company and the CEO on 9 January 2015, as announced in
a stock exchange notice as of the date thereof.

Following the transaction, Pål Magnussen holds a total of 20,000 shares in AMSC,
constituting approximately 0.03% of the Company's shares and votes.

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


[HUG#1888103]