Lysaker, 20 February 2018 Reference is made to the Company's Q4 2017 report, regarding the Board's authorization to pay a quarterly dividend of USD 0.08 per share to the shareholders of AMSC on record as of 21 February 2018. The shares in American Shipping Company ASA will be traded ex dividend USD 0.08 as from today, 20 February 2018. The NOK amount per share will be 0.6209 and will be paid on or about 1 March 2018. The dividend is classified as a return of paid in capital. *** 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.