Seattle-headquartered Saltchuk on Wednesday announced it has completed its acquisition of Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—previously OSG’s largest shareholder—said it completed a $950 million transaction to purchase all outstanding shares of OSG common stock at $8.
The U.S. Department of Transportation’s Maritime Administration (MARAD) announced on Tuesday that nine ships have been enrolled in the Tanker Security Program (TSP), a newly created public-private partnership program that makes U.S.-flag commercial product tankers available to support U.S. armed forces and national economic security.
Seattle-headquartered Saltchuk on Monday announced it has entered into a definitive agreement to acquire Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla., in a deal worth $950 million.Privately-held Saltchuk—OSG’s largest shareholder—said the transaction assigns OSG an aggregate equity value of approximately $653 million.
Seattle-headquartered Saltchuk Holdings has renewed its bid to take over Overseas Shipholding Group (OSG), a New York-listed marine transportation company based in Tampa, Fla.Privately-held Saltchuk—OSG’s largest shareholder—had previously offered to acquire OSG in June 2021 but suspended those discussions several months later, citing pandemic-related market uncertainties.OSG, which operates U.S.
Analysts and commentators are quick to point out that fossil fuels will power maritime equipment, and indeed dominate the fueling marketplace, well into the future. However, they will do so alongside new fuels, and new technologies, that will be introduced to the maritime sector in the coming years.
John F. Kennedy’s famous locution, “Ask not what your country can do for you, but you can do for your country” remains the rallying call for civic action and public leadership. The message remains foundational to the success of the United States, particularly as we head into an election year that once again appears to be filled with divisiveness and vitriol.
U.S. shipping company Overseas Shipholding Group, Inc. (OSG) on Thursday announced it has reached an agreement with BP Oil Shipping Company to purchase the Jones Act compliant crude oil tanker Alaskan Frontier.Built by General Dynamics NASSCO in 2004, the 1.3-million-barrel capacity tanker is a sister to three other Alaskan Class vessels operated by OSG’s wholly owned subsidiary
U.S. shipping company Overseas Shipholding Group (OSG) has set out to design a new vessel that will transport liquified carbon dioxide (LCO2).In April, the Tampa, Fla.-based company was awarded a $3 million grant from the U.S. Department of Energy for engineering and design work in support of the project.
Overseas Shipholding Group (OSG) announced a three-year pledge in the amount of $90,000 to the Massachusetts Maritime Academy as the US. shipping company continues to promote women to receive training to enter the maritime industry.OSG said its pledge will go to undergraduate and sea term scholarships and sponsorship of the Academy’s Women’s Network and Sea
U.S. shipping company Overseas Shipholding Group (OSG) announced it will equip all vessels in its fleet with Space X’s Starlink satellite internet service in a move that aims to enhance onboard connectivity for seafarers.Since the introduction to the market of Starlink’s Global Maritime service earlier this year
Tampa, Fla. based shipping company Overseas Shipholding Group, Inc. (OSG) continues its efforts to remove financial barriers for women entering the maritime industry with a scholarship pledge in the amount of $30,000. The scholarship funds will be used to support the Women Offshore Foundation’s 2024 Summer Sea Term Scholarship Program that is designed to help women+ enrolled at a U.S.
U.S.-based shipping company Overseas Shipholding Group (OSG) announced its support for women at SUNY Maritime College with a three-year pledge totaling nearly $90,000, in an effort to make strides in reducing the gender gap in the maritime industry and create equal opportunities for all.