Over 700 Barges Stranded by Mississippi River Closure in Memphis Due to Bridge Crack
The U.S. Coast Guard said 44 vessels with a total of 709 barges are now in the queue as a 1-miles stretch of the Mississippi River remains closed after a...
Overseas Shipholding Group (OSG) announced today that the portion of it’s common stock owned by U.S. citizens stands at 77 percent as of 15 April 2014.
In a press release today, the company notes, “This is the minimum percentage of shares that must be owned by United States citizens in order to preserve the status of OSG as a Jones Act company, in accordance with the Company’s charter and bylaws.”
To police this, prospective shareholders are required to declare their citizenship at the time of purchase and if they don’t meet U.S. citizenship requirements, they are prevented in completing the transaction.
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