American Shipping Company ASA : American Shipping Company ASA : Primary insider notification

   American Shipping Company ASA : American Shipping Company ASA : Primary
                             insider notification

AMSC - Primary insider notification

Reference is made  to previous  stock exchange  announcement of  29 June  2012 
issued by Converto Capital Fund AS ("CCF"), a subsidiary of Aker ASA, relating
to the entry  into of  a TRS agreement  with financial  exposure to  9,182,520 
underlying shares in American  Shipping Company ASA  ("AMSC"), equal to  33.27 
per cent of the share capital of AMSC. CCF has today extended the term of  the 
TRS agreement. The final expiry date of the TRS agreement has been set to June
27, 2014. The swap may be issued  as three months rolling contracts. The  swap 
price for the  three months  contract with expiry  September 27,  2013 is  NOK 
38.2593 per share. 

CCF holds 5,493,430 shares  in AMSC, equaling 19.90  per cent of the  shares 
and votes of AMSC.

Lars Solbakken, CEO of Ocean  Yield AS which is  a wholly owned subsidiary  of 
Aker ASA, is a board member of AMSC.

The information contained herein is subject to the disclosure requirements  of 
sections 4-1 of the Norwegian Securities Trading Act.

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This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: American Shipping Company ASA via Thomson Reuters ONE
HUG#1712552
 
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