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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 71CgDldUz1ZoUOctjDmg2Q==

<SEC-DOCUMENT>0001209191-03-024769.txt : 20031006
<SEC-HEADER>0001209191-03-024769.hdr.sgml : 20031006
<ACCEPTANCE-DATETIME>20031006122350
ACCESSION NUMBER:		0001209191-03-024769
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031003
FILED AS OF DATE:		20031006

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MC SHIPPING INC
		CENTRAL INDEX KEY:			0000847831
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				980101881
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		CLARENDON HOUSE CHURCH ST
		STREET 2:		P O BOX HM 1022
		CITY:			HAMILTON BERMUDA
		STATE:			D0
		ZIP:			HM CX
		BUSINESS PHONE:		8092957933

	MAIL ADDRESS:	
		STREET 1:		24 AVENUE DE FONTVIELLE
		CITY:			MONACO
		STATE:			F0

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			PICO HOLDINGS INC /NEW
		CENTRAL INDEX KEY:			0000830122
		STANDARD INDUSTRIAL CLASSIFICATION:	FIRE, MARINE & CASUALTY INSURANCE [6331]
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10231
		FILM NUMBER:		03929285

	BUSINESS ADDRESS:	
		STREET 1:		875 PROSPECT ST
		STREET 2:		STE 301
		CITY:			LA JOLLA
		STATE:			CA
		ZIP:			92037
		BUSINESS PHONE:		6194566022

	MAIL ADDRESS:	
		STREET 1:		875 PROSPECT ST
		STREET 2:		STE 301
		CITY:			LA JOLLA
		STATE:			CA
		ZIP:			92037

	FORMER NAME:	
		FORMER CONFORMED NAME:	CITATION INSURANCE GROUP
		DATE OF NAME CHANGE:	19940527
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc4.xml
<DESCRIPTION>FORM 4 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument><schemaVersion>X0201</schemaVersion>    <documentType>4</documentType><periodOfReport>2003-10-03</periodOfReport><notSubjectToSection16>0</notSubjectToSection16><issuer><issuerCik>0000847831</issuerCik><issuerName>MC SHIPPING INC</issuerName>        <issuerTradingSymbol>MCX</issuerTradingSymbol></issuer><reportingOwner><reportingOwnerId><rptOwnerCik>0000830122</rptOwnerCik><rptOwnerName>PICO HOLDINGS INC /NEW</rptOwnerName></reportingOwnerId><reportingOwnerAddress><rptOwnerStreet1>875 PROSPECT STREET</rptOwnerStreet1><rptOwnerStreet2>SUITE 301</rptOwnerStreet2><rptOwnerCity>LA JOLLA</rptOwnerCity><rptOwnerState>CA</rptOwnerState><rptOwnerZipCode>92037-4264</rptOwnerZipCode><rptOwnerStateDescription></rptOwnerStateDescription></reportingOwnerAddress><reportingOwnerRelationship><isDirector>0</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>1</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransa
ction><securityTitle><value>COMMON</value></securityTitle><transactionDate><value>2003-10-03</value></transactionDate><deemedExecutionDate></deemedExecutionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>P</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionTimeliness><value></value></transactionTimeliness><transactionAmounts><transactionShares><value>10200</value></transactionShares><transactionPricePerShare><value>1.6517</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1398300</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><footnotes></footnotes><remarks>All shares reported as sold on this Form 4 are owned by Ph
ysicians Insurance Company of Ohio, a wholly-owned subsidiary of PICO Holdings,Inc.</remarks><ownerSignature><signatureName>/s/James F. Mosier, General Counsel and Secretary</signatureName><signatureDate>2003-10-06</signatureDate></ownerSignature></ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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