OTC Markets Group Welcomes American Shipping Company to OTCQX

NEW YORK, Nov. 2, 2017 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced American Shipping Company ASA (Oslo Bors: AMSC; OTCQX: ASCJF), a ship owning company, has qualified to trade on the OTCQX® Best Market.  American Shipping Company upgraded to OTCQX from the Pink® market.

American Shipping Company begins trading today on OTCQX under the symbol "ASCJF."  U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

"We congratulate American Shipping Company on upgrading to join our family of established, investor-focused U.S. and global companies on OTCQX," said Jason Paltrowitz, Executive Vice President of Corporate Services at OTC Markets Group. "Trading on OTCQX will allow American Shipping to expand its shareholder base and visibility in the U.S. market by providing U.S. investors with efficient trading and convenient access to its news and financial disclosure."

American Shipping Company ASA's Chief Executive Officer Pål Magnussen said in a comment: "AMSC is a leading pure play Jones Act tanker owner with modern assets contracted on long-term leases.  As U.S. crude oil production continues to increase, we are seeing renewed interest in the Jones Act tanker market, an important component in U.S. oil majors' transportation logistics.  We are pleased to create a new channel for increasing transparency and awareness of AMSC and the Jones Act tanker market through our OTCQX quotation.  The quotation will also facilitate trading in our stock in U.S. dollars to make it easier for U.S. investors to invest in our company." 

American Shipping Company was sponsored for OTCQX by Rose & Co. Capital Advisors, LLC, a qualified third-party firm responsible for providing guidance on OTCQX requirements and recommending membership. 

About American Shipping Company
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.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities.  Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services.  We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com

OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, [email protected]

SOURCE OTC Markets Group Inc.