American Shipping Company ASA : Third quarter 2016 results

Lysaker, 8 November 2016, American Shipping Company ASA announces results for
the third quarter ending 30 September 2016

Highlights:

* Stable Q3 bareboat revenue of MUSD 22.1 and backlog of secured bareboat
revenue of MUSD 336 with average weighted tenor of 3.8 years
* Normalized EBITDA for Q3 of MUSD 23.7
* Q3 profit share of MUSD 1.4 attributed to AMSC, which reduces the profit
share credit
* Q3 adjusted net profit of MUSD 3.0
* Declared Q3 dividend of USD 0.124 per share, in line with previous guidance
for full year 2016 dividends

The full report is attached, along with the Q3 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.