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.
If nothing else, building vessels in the U.S. is a complicated business.In a session on the domestic shipbuilding marketplace, at Marine Money’s late-November 2023 conference held in New Orleans, Ben Bordelon, president and CEO of Bollinger Shipyards (with more than a dozen facilities, in Mississippi and Louisiana)
Danish shipping giant A.P. Moller - Maersk recently named the world's second large methanol-enabled container vessel, Astrid Mærsk, during a ceremony in Yokohama, Japan.The ship is the second of Maersk’s 18 large methanol-enabled vessels, scheduled for delivery between 2024 and 2025, as the company works toward its net-zero targets and supports customers in achieving their decarbonization goals.
The 2023 IMO Award for Exceptional Bravery at Sea has been presented to Caleb Halle, Aviation Survival Technician Second Class (AST2) of the United States Coast Guard (USCG). He was recognized for the outstanding courage, endurance and determination he showed during the rescue of the seven-strong crew of the tugboat Legacy in January 2023.
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.
A fleet of Jones Act compliant crew transfer vessels is growing in stride with the United States’ burgeoning offshore wind industry.When the United Sates’ first purpose-built crew transfer vessel (CTV), Atlantic Pioneer, was delivered in 2016, the country’s offshore wind industry was just getting off the ground.
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.
Franklin, La. shipbuilder Gulf Craft in December delivered WINDEA Intrepid, a new crew transfer vessel built for WINDEA CTV, a partnership between Hornblower Wind and MidOcean Wind.Designed by Incat Crowther and classed by Bureau Veritas, the 30-meter-long aluminum catamaran has capacity to carry 24 technicians, plus six crew.
Palatka, Fla. shipyard St. Johns Ship Building announced it has delivered WINDEA Courageous, the first of three Jones Act compliant crew transfer vessels (CTV) ordered by WINDEA CTV, a partnership between Hornblower Wind and MidOcean Wind.The 30-meter-long WINDEA Courageous and its sister vessels are designed by Incat Crowther and each have capacity to carry 24 technicians, plus six crew.
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