American Shipping Company ASA : Ex-dividend today

Lysaker, 22 August 2016, Reference is made to the Company's Q2 2016 report,
regarding the Board's authorization to pay a quarterly dividend of USD 0.124 per
share to the shareholders of AMSC on record as of 23 August 2016.  The shares in
American Shipping Company ASA will be traded ex dividend USD 0.124 as from
today, 22 August 2016.  Based on the closing NOK/USD exchange rate on 19 August
2016, the NOK amount per share will be 1.02 and will be paid on or about 31
August 2016.  The dividend is classified as a return of paid in capital.

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About American Shipping Company ASA:

Established in 2005 and listed on the OSE, AMSC is a ship owning company with
nine modern handy size product tankers and one modern handy size shuttle tanker
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 dividends  to its shareholders. Further information is available at
www.americanshippingco.com.


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