American Shipping to consider refinancing opportunities

By Angela McDaniels

Tacoma, Wash., Feb. 18 - American Shipping Co. ASA may pursue a refinancing, according to the company's fourth-quarter report.

The company said a strong cash position and improved balance sheet give it the option to consider accretive growth and refinancing opportunities.

The company had $12.3 million of cash and cash equivalents as of Dec. 31, and its net debt as of that date included $199.9 million of bonds and $580 million of bank financing.

American Shipping is a shipping company based in Oslo.

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