Overseas Shipholding Group has taken delivery of two Korean-built product tankers which the company anticipates will join the U.S. flag after an initial one-year charter. The two 50,000 DWT tankers, named Overseas Gulf Coast and Overseas Sun Coast, were delivered this week by Hyundai Mipo Dockyard in Ulsan, South Korea. Both were built to comply with MARPOL Annex VI … [Read more...]
Overseas Shipholding Group Orders Two U.S.-Flag Tankers to Be Built in Korea
U.S.-flag tanker company Overseas Shipholding Group, Inc. (NYSE: OSG) has signed shipbuilding contracts with Hyundai Mipo Dockyard in South Korea for the construction of two 50,000 dwt product chemical tankers. The vessels are scheduled for delivery during the seoncd half of 2019 and will be built at HMD's yard in Ulsan, South Korea. Upon delivery the ships will operate … [Read more...]
OSG Investors Settle Lawsuit with Execs and Others
By Nate Raymond NEW YORK, Aug 7 (Reuters) - Overseas Shipholding Group Inc investors have reached $16.25 million in settlements with the executives, underwriters and an auditor of the tanker company in a lawsuit related to its 2012 bankruptcy and tax problems. Company directors and officers, including former Chief Executive Morten Arntzen and former Chief … [Read more...]
OSG Planning $100 Million NYSE Return – Reports
Overseas Shipholding Group, one of the world's largest tanker operators, is planning a return to the New York Stock Exchange less than a year after exiting Chapter 11 bankruptcy, according to reports. On Monday, the company filed with the SEC plans to raise up to $100 million in an initial public offering. The news was first reported by the IPO specialist firm Renaissance … [Read more...]
OSG Appoints New President and CEO
New York-based tanker group Overseas Shipholding Group, Inc. (NYSE MKT:OSGB) announced Thursday the appointment of Captain Ian T. Blackley as its new President and Chief Executive Officer, effective immediately, as the company tries to regain some footing after emerging from bankruptcy in August. “Captain Blackley is a veteran of the shipping industry and has been … [Read more...]