American Shipping Company (AMSC)

TekBot · juni 25, 2020, 4:02pm

American Shipping Company ASA: Purchase of Treasury Shares

Reference is made to American Shipping Company ASA’s (“American Shipping
Company” or “Company”) stock exchange notice on 23 June 2020 where the Company
announced its intention to purchase up to 52,000 treasury shares in connection
…

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with its incentive program for employees. American Shipping Company has on 25
June 2020 purchased 14,492 shares in the Company on the Oslo Stock Exchange at
an average price of NOK 24,9311 per share, which implies a total consideration
of NOK 361,302. The purchase of treasury shares was carried out in accordance
with an authorization granted by the Annual General Meeting of the Company on 27
April 2020.

Following the transaction, the Company holds a total of 52,000 treasury shares
and has thereby completed its announced buyback programme for the Company’s
incentive programme for employees.

The information contained herein is subject to the disclosure requirements of
section 4-2 and 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · juni 29, 2020, 3:19pm

American Shipping Company ASA: Purchase of Treasury Shares

Reference is made to American Shipping Company ASA’s (“American Shipping
Company” or the “Company”) stock exchange notice on 25 June 2020 where the
Company announced that it had completed its up to 52,000 share buyback programme
…

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in connection with its incentive program for employees. Instructions have been
made on 29 June 2020, for the shares to be transferred to the relevant employees
and primary insiders in accordance with the incentive program, as further set
out in the stock exchange notice published by the Company on 23 June 2020. The
shares were allocated to the employees at an average price of NOK 20.00 per
share. Following this distribution, the Company holds 0 treasury shares.
This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · juli 3, 2020, 1:27pm

American Shipping Company ASA - American Tanker, Inc.: Call notice for outstanding bonds

TekBot · juli 3, 2020, 1:27pm

Shareholder Filing - AMSC

Kraakko · juli 27, 2020, 12:58pm

Er du fortsatt inne i AMSC?

Kontrakter er jo sikret i minst 2-3 år frem i tid.

Kraakko · juli 27, 2020, 8:05pm

AZ dealen kan nok dra ut ganske bra enda, tok et lite bet der selv. Men man må jo regne med at absolutt alt vil falle en del om d blir en ny hysteriebølge med covid. Da burde man være i ren cash. Når det er sagt så sitter vel amsc bare med kontrakter ut 2022 og 23, i teorien så er det jo liten nedside fundamentalt for de uansett

Men hvis AMSC legger opp til 15% utbytte yield så er det top of The class. Da er man vertfall sikret en bra gevinst bare ved å sitte rolig😉

Kraakko · juli 28, 2020, 11:20am

fra Q1 “AMSC continues to enjoy downside protection with “come hell or high water” bareboat contracts, with five
product tankers secured until December 2022, four product tankers secured until December 2023 and one
shuttle tanker secured until June 2025”

“On the supply side, another ATB was sold for scrap after the quarter end and with Philly Shipyard being
awarded the training ships contract by MARAD and NASSCO building for the U.S. Navy, there will likely
be no newbuild MR tankers delivered for many years to come. With only two replacement barges entering
the market in Q2 and Q4 2020, the Jones Act tanker fleet will continue to shrink as older tonnage is facing
expensive drydocks and special surveys.”

Mao, det vil bli økt demand for tankerne til AMSC, da flere går “ut på dato” i den totale flåten. AMSC har relativt nye, da sist levert fra philly for 2-4 år siden (tatt rett fra hodet). Leste noe for et år siden om at gjensomsnittalderen på hele JA flåten begynne å nærme seg 10-20 år. Og det er vel ca maks 20år som er sett på som maksalder mener jeg, uten å være heeelt 110%.

TekBot · august 21, 2020, 6:02am

American Shipping Company ASA - Key information relating to the cash dividend to be paid by AMSC

TekBot · august 21, 2020, 6:04am

American Shipping Company ASA - Second quarter financial results

Lysaker, 21 August 2020, American Shipping Company ASA (“AMSC” or the “Company”)
announces results for second quarter ending 30 June 2020.

…

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HIGHLIGHTS

· AMSC successfully closed a USD 305 million bank debt refinancing with new
and existing lenders at attractive and improved terms. The new debt facilities
reduce cost of capital and increase free cash flow
· Launched refinancing of the Company’s USD 220 million unsecured bond, with a
new USD 200 million bond which was successfully closed subsequent to quarter-end
at a coupon 150 basis points lower than the prior bond
· Stable Q2 financial performance with bareboat revenue of USD 21.9 million,
normalized EBITDA of USD 22.1 million and adjusted net profit of USD 3.5 million
· Backlog of secured bareboat revenue of USD 278.5 million with average
weighted tenor of 3.2 years
· Increased dividends by 25% to USD 0.10 per share backed by the Company’s
increased free cash flow

AMSC CEO, Pål Lothe Magnussen comments, “We are pleased to announce a 25%
increase in dividends this quarter. Despite the COVID-19 pandemic the company
has successfully refinanced the bond and the bank debt at considerably lower
cost, which enables us to increase dividends while at the same time strengthen
our debt service coverage. The new debt terms reflect AMSC’s predictable
platform of ten ships with contracted revenues operating in a market with stable
long term outlook.”

The full report is attached, along with the Q2 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, Controller

+1 484 880 3741

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · august 27, 2020, 6:04am

American Shipping Company ASA - Ex-dividend today

Lysaker, 27 August 2020, Ex-dividend today

Reference is made to the Company’s Q2 2020 report, regarding the Board’s
…

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authorization to pay a quarterly dividend of USD 0.10 per share to the
shareholders of AMSC on record as of 28 August 2020. The shares in American
Shipping Company ASA will be traded ex dividend USD 0.10 as from today, 27
August 2020. The NOK amount per share will be 0.8958 and will be paid on or
about 7 Septmeber 2020. 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.

Kilde

TekBot · september 15, 2020, 7:49pm

American Shipping Company ASA: Primary Insider Disclosure

TekBot · november 20, 2020, 7:01am

American Shipping Company ASA - Key information relating to the cash dividend to be paid by AMSC

TekBot · november 20, 2020, 7:01am

American Shipping Company ASA - Third quarter financial results

Lysaker, 20 November 2020, American Shipping Company ASA (“AMSC” or the
“Company”) announces results for third quarter ending 30 September 2020.

…

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HIGHLIGHTS

· Completed refinancing of the Company’s USD 220 million unsecured bond, with
a new USD 200 million bond, at a 7.75% coupon, 150 basis points lower coupon
than the prior bond
· Stable Q3 financial performance with bareboat revenue of USD 22.2 million,
normalized EBITDA of USD 22.4 million and adjusted net profit of USD 4.6 million
· Backlog of secured bareboat revenue of USD 256 million with average weighted
tenor of 2.9 years
· Declared Q3 dividend of USD 0.10 per share, backed by the Company’s
increased free cash flow

AMSC CEO, Pål Lothe Magnussen comments, “Completing the company wide refinancing
with the USD 200 million senior unsecured bond at a much reduced interest rate
was a key milestone for American Shipping Company. The strong interest in our
refinancing from banks and bondholders is a reflection of our stable business
model, despite COVID-19 related financial market volatility.”

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, Controller

+1 484 880 3741

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · november 20, 2020, 6:19pm

American Shipping Company ASA - Primary insider notification

Reference is made to previous stock exchange announcement of 20 November 2019
relating to Aker ASA’s (“Aker”) indirect total return swap (“TRS”) agreements
with financial exposure to 18,687,620 underlying shares in American Shipping
…

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Company ASA (“AMSC”), equal to 30.83 per cent of the share capital in AMSC.

Aker, through its wholly owned subsidiary Aker Capital AS, has today terminated
said agreements. Concurrently with the termination, Aker Capital AS has entered
into two new TRS agreements with Skandinaviska Enskilda Banken AB (“SEB”) and
DNB Bank ASA (“DNB”) with financial exposure to 9,182,520 and 9,505,100
underlying shares in AMSC respectively. The expiry date of the new TRS
agreements has been set to 6 December 2021. The swap prices for the contracts
with SEB and DNB are NOK 31.3717 and NOK 31.3375 per share respectively.

In addition to the financial exposure provided by the abovementioned two swap
agreements, Aker Capital AS also holds 11,557,022 shares in AMSC, equaling 19.07
per cent of the shares and votes of AMSC.

The information contained herein is subject to the disclosure requirements of
section 4-2 of the Norwegian Securities Trading Act.

This information is subject to the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · november 26, 2020, 7:01am

American Shipping Company ASA - Ex dividend today

Lysaker, 26 November 2020

Reference is made to the Company’s Q3 2020 report, regarding the Board’s
…

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authorization to pay a quarterly dividend of USD 0.10 per share to the
shareholders of AMSC on record as of 27 November 2020. The shares in American
Shipping Company ASA will be traded ex dividend USD 0.10 as from today, 26
November 2020. The NOK amount per share will be 0.8975 and will be paid on or
about 7 December 2020. 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.

Kilde

TekBot · januar 18, 2021, 2:04pm

American Shipping Company ASA - PROSPECTUS APPROVED FOR LISTING OF AMERICAN TANKER, INC. BOND ISSUE WITH ISIN NO0010886328

On 15 January 2021, the Financial Supervisory Authority of Norway
(“Finanstilsynet”) approved a prospectus prepared by American Tanker, Inc.
(“ATI”), an indirectly wholly owned subsidiary of American Shipping Company ASA,
…

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in connection with an application for listing of the bond loan issued by ATI
with ISIN NO0010886328.

The listing prospectus is available on the company’s website
www.americanshippingco.com.

ATI Contact:

Leigh Jaros, President & Chief Executive Officer +1 484 880 3741

AMSC contacts:

Pål Magnussen, Chief Executive Officer +47 24 13 00 04

Morten Bakke, Chief Financial Officer +47 24 13 00 87

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.

IMPORTANT INFORMATION

This announcement does not constitute an offer of any of the securities
described herein. The release is not for publication or distribution, in whole
or in part directly or indirectly, in or into Australia, Canada, Japan or the
United States (including its territories and possessions, any state of the
United States and the District of Columbia) or in any other jurisdiction where
such publication or distribution is unlawful. This release is an announcement
issued pursuant to legal information obligations, and is subject of the
disclosure requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act. It is issued for information purposes only, and does not constitute
or form part of any offer or solicitation to purchase or subscribe for
securities, in the United States or in any other jurisdiction. The securities
mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the “US Securities Act”). The
securities may not be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the US Securities Act.

Kilde

TekBot · februar 12, 2021, 7:01am

American Shipping Company ASA - Key information relating to the cash dividend to be paid by AMSC

TekBot · februar 12, 2021, 7:01am

American Shipping Company ASA - Fourth quarter 2020 financial results

Lysaker, 12 February 2021, American Shipping Company ASA (“AMSC” or the
“Company”) announces results for fourth quarter ending 30 December 2020.

…

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HIGHLIGHTS

· Stable Q4 financial performance with bareboat revenue of USD 22.2 million,
normalized EBITDA of USD 22.2 million and adjusted net profit of USD 4.9 million
· Backlog of secured bareboat revenue of USD 235 million with average weighted
tenor of 2.7 years
· Declared Q4 dividend of USD 0.10 per share, backed by the Company’s free
cash flow
· Subsequent to year-end, the USD 200 million senior unsecured bond was listed
on the Oslo Stock Exchange under the ticker ATI02

AMSC CEO, Pål Lothe Magnussen comments, “We are pleased to deliver another
stable quarter of financial results, but note that the effects of COVID-19 are
becoming more visible in the Jones Act tanker market. We expect the time charter
market to be volatile in the near term, but have seen some spot and term market
activity in January, which is an encouraging sign. AMSC remains insulated from
short term volatility with bareboat contracts in place for the entire fleet.”

The full report is attached, along with the Q4 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, Controller

+1 484 880 3741

This information is subject of the disclosure requirements pursuant to section 5
-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · februar 17, 2021, 2:18pm

Financial calendar

TekBot · februar 18, 2021, 7:01am

American Shipping Company ASA - Ex-dividend today

Lysaker, 18 February 2021

Reference is made to the Company’s Q4 2020 report, regarding the Board’s
…

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authorization to pay a quarterly dividend of USD 0.10 per share to the
shareholders of AMSC on record as of 19 February 2021. The shares in American
Shipping Company ASA will be traded ex dividend USD 0.10 as from today, 18
February 2021. The NOK amount per share will be 0.847 and will be paid on or
about 1 March 2021. 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.

Kilde