PRESS RELEASES STOCK EXCHANGE RECENT ARCHIVE MULTIMEDIA

Second Quarter 2007 - Building up our Fleet (14.08.07)

The second product tanker was delivered in June expanding Aker American Shipping’s (AKASA) footprint as a market leader in ship construction and leasing. Our shipyard remains focused on productivity and cost improvements as Aker American Shipping continues the build/lease program of the initial ten product tankers.

First Quarter 2007 - Full Speed Ahead (08.05.07)

After delivery of the first product tanker in February, Aker American Shipping (AKASA) now has activity in both its main business areas. With significant financing facilities and solid order book in place, the main focuses are to leverage the position as a ship owner and improve cost efficiency as a ship builder.

Minutes from Annual General Meeting (29.03.07)

Aker American Shipping ASA has today on 29 March 2007 held its Annual General Meeting. All proposals to the AGM were approved.

Fourth quarter 2006 - Charter Rates Continue to Increase (01.03.07)

Fourth quarter 2006 – After close of the fourth quarter, Aker American Shipping (AKASA) entered into an agreement in principle with OSG for up to 6 more product tankers, potentially bringing the series to 16 vessels. The first product tanker, delivered February 9th, has gone into operation for Shell, and is now earning revenues for subsidiary American Shipping Corporation. Concurrent with the delivery of the first Product Tanker, Aker American Shipping has closed a senior secured credit facility of USD 770 million with Fortis Capital as Agent, financing its long term ownership of the first 10 vessels. AKASA raised NOK 700 million for working capital purposes through a bond issue February 16th.

2007 Financial calendar for Aker American Shipping ASA (21.11.06)

Third quarter 2006 - Eight of Ten Product Tankers Now Under Time Charters (03.11.06)

Third quarter 2006 – After close of the third quarter two more product tankers were signed up with Tesoro, leaving only two tankers in the ten ship series not yet secured by external end users. This confirms a strong market for the product tankers.

Second quarter 2006 - Container vessel 4 delivered to Matson July 12th, the shipyard is now solely focusing on the 10 ship product tanker series. (11.08.06)

OSLO / PHILADELPHIA (August 11, 2006) – After close of the second quarter of 2006, container vessel 4 (CV 4) was delivered to Matson on July 12th. The shipyard is from now solely focusing on production of the 10 product tankers.

First quarter 2006 – Strong interest from market for new product tankers. (02.05.06)

Now, long term contracts for six of ten product tankers in place.

OSLO / PHILADELPHIA (May 2, 2006) – After close of the first quarter of 2006, another two-ship time charter contract was signed between Overseas Shipholding Group, Inc. (OSG) and Tesoro. The contract is estimated to result in profit sharing contribution for Aker American Shipping (AKASA).

Fourth quarter 2005 – Solid financial performance and strong tanker market fundamentals confirmed. (16.02.06)

OSG already secures long term contracts for four of ten product tankers.

OSLO / PHILADELPHIA (February 16, 2006) – After close of the fourth quarter of 2005, a two-ship time charter contract was signed between Overseas Shipholding Group, Inc. (OSG) and BP. The long term contract is expected to result in profit sharing contribution for Aker American Shipping (AKASA).

Third quarter 2005 – Strong profitability and long term external contracts secured through OSG with Shell Oil this week for two product tankers. (05.11.05)

Oslo/Philadelphia, November 3, 2005: During the third quarter of 2005, the Aker American Shipping Group has continued to produce good financial results. A strong market for the product tankers has been confirmed during the quarter.

• After close of the third quarter of 2005 a 2 ship time charter contract was signed between Overseas Shipholding Group, Inc. (OSG) and Shell Oil. The long term contract is estimated to give profit sharing contribution to Aker American Shipping.
• Aker American Shipping Group has confirmed and closed the USD 350 million credit facility for the financing of the first five product tankers.
• EBITDA was USD 6.0 million for third quarter and USD 16.2 million for the first nine months of 2005.

Second quarter 2005 – Successful delivery of the third container vessel and strong second quarter profitability (18.08.05)

During the first half of 2005, Aker American Shipping ASA (AKASA) has made significant achievements, and laid the foundation for the future.
• During second quarter of 2005 a 10 ship lease contract was finalized with Overseas Shipholding Group, Inc. (OSG), securing shipbuilding backlog until 2010 and ship lease operations until 2015.
• The third container vessel of a four ship series was successfully delivered to Matson Navigation Company (Matson) May 19, ahead of schedule.
• A private placement and secondary offering was completed securing net proceeds of $118.5 million in new equity.
• Listing of Aker American Shipping ASA at the Oslo Stock Exchange took place July 11.
• EBITDA was $6.3 million for second quarter and $10.2 for the half year.

Secondary sales and mandatory notification of trade (15.07.05)

Aker ASA has completed the secondary sale of shares in Aker American Shipping. The maximum offering of 350 000 shares were sold at a price of NOK 65. In addition Aker sold 74 050 shares to employees in Aker American Shipping, Aker, Aker Yards and Kværner. After these transactions Aker holds 53.2 percent of the shares in Aker American Shipping.

Aker American Shipping to be listed today (11.07.05)

Oslo/Philadelphia, 11 July 2005: Aker American Shipping, a leading operator in the US Jones Act market, will be listed on the Oslo Stock Exchange (Oslo Børs) today on ticker code AKASA. With the private placement completed Thursday 30 June 2005, the company has a total of 143 shareholders per 11 July and an estimated market value of NOK 1.8 billion (USD 275 million)