NOTIFICATION OF MAJOR HOLDINGS

07 Dec 2022 08:17 CET

DUMAC, Inc / Duke University Management Company ("DUMAC") hereby notifies that
on behalf of its discretionary investment client, Blackwell Partners LLC -
Series A ("Blackwell"), it holds discretionary proxy voting rights to shares in
American Shipping Company ASA ("AMSC") effective as of 1 June 2020, representing
9.06% of the issued share capital and voting rights (equal to 5,491,215 shares).
On 23 May 2018, Blackwell acquired 441,000 shares in AMSC, after which it held
3,094,705 shares, corresponding to 5.11% of the share capital and voting rights
in AMSC. During 4 March 2022 to 24 May 2022, Blackwell sold 1,991,215 shares in
AMSC. As of today, Blackwell holds 3,500,000.00 shares in AMSC, corresponding to
4.87% of the share capital and voting rights.

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577522_tabel-amsc.pdf