Corporate governance - American Shipping Company

Corporate governance

American Shipping Company ASA’s focus is on building a premier ownership position in the Jones Act market to create maximum value for its shareholders. Good corporate governance will help to reduce risk and ensure sustainable value creation.

The Board of Directors of American Shipping Company ASA has reviewed and updated the Company’s principles for corporate governance. The Board’s statement of corporate governance is included in the annual report. The principles are based on the Norwegian Code of Practice for Corporate Governance, dated 30 October 2014 (the “Code of Practice”), the principles set out in the Continuing Obligations of stock exchange listed companies from the Oslo Stock Exchange, and the relevant Norwegian background law such as the Norwegian Accounting Act and the Norwegian Public Limited Liability Companies Act. The Code of Practice is available at and the Continuing Obligations of stock exchange listed companies may be found at principles also apply to American Shipping Company ASA’s subsidiaries where relevant.

The following presents American Shipping Company ASA’s (hereinafter American Shipping Company, AMSC, the Company or the Group) practice regarding each of the recommendations contained in the Code of Practice. Any deviations from the recommendations are found under the item in question. In addition to the Code of Practice, the Norwegian Accounting Act § 3-3b stipulates that companies must provide a report on their policies and practices for corporate governance either in the annual report or in a document referred to in the annual report. This report is integrated in this corporate governance statement. 


Values and ethical guidelines


Equity and dividends

Equal treatment of shareholders and transactions with close associates

Freely negotiable shares

General Meetings

Nomination committee

Board composition and independence

The work of the Board of Directors

Risk management and internal control

Remuneration of the Board of Directors

Remuneration of executive management

Information and communications