American Shipping Company ASA : Second quarter 2016 results

Lysaker, 16 August 2016, American Shipping Company ASA announces results for the
second quarter ending 30 June 2016

Highlights:

*        Increasing normalized EBITDA of MUSD 25.1 for Q2 2016 vs. MUSD 24.3
in Q1 2015 (Normalized EBITDA: base bareboat revenue, plus profit share,
plus DPO, less SG&A)
*        Declared Q2 2016 dividend of USD 0.124 per share, which equates to an
annualized dividend yield of 15.9% based on the share price as of 15 August
2016.
*        Q2 dividend is in line with previous guidance of 15% year on year
dividend growth for 2016
*        Backlog of secured bareboat revenue of MUSD 358 with average weighted
tenor of 4.1 years


The full report is attached, along with the Q2 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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