American Shipping Company ASA : First quarter 2016 results

Oslo, 24 May 2016, American Shipping Company ASA announces results for the first
quarter ending 31 March 2016

Highlights:
* Increasing normalized EBITDA of MUSD 26.2 for Q1 2016 vs. MUSD 25.3 in Q1
2015 (Normalized EBITDA: base bareboat revenue, plus profit share, plus DPO,
less SG&A)
* Declared Q1 2016 dividend of USD 0.107 per share, approximately 4% higher
than Q1 2015, which equates to an annualized dividend yield of 13.6% based
on the share price as of 23 May 2016.
* Reiterated guiding on approximately 15% year on year dividend growth for
2016 vs. 2015
* Backlog of secured bareboat revenue of MUSD 380 with average weighted tenor
of 4.3 years


The full report is attached, along with the Q1 presentation.


Company contacts:

Pål Magnussen, Chief Executive Officer
+47 24 13 00 04

Morten Bakke, Chief Financial Officer
+47 24 13 00 87

Leigh Jaros, Business Controller / Finance Manager
+1 484 880 3741


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


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