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 authorities in Singapore have launched an oil spill clean-up operation after the Netherlands-flagged dredger Vox Maxima struck a stationary Singapore-flagged bunker vessel Marine Honour, causing a rupture of one its oil cargo tanks which released the low-sulphur fuel oil to the sea.
The Olympic flame landed on French soil amid tight security on Wednesday, firing the starting gun on a summer extravaganza of sport that President Emmanuel Macron hopes will showcase the splendours of France and burnish his legacy.The flame arrived in Marseille, a port city in southern France founded by Greek merchants, after a 12-day trip from Greece onboard the Belem
Iran's Revolutionary Guards' navy has unveiled new vessels equipped with 600-km range missiles at a time of rising tensions with the U.S. in the Gulf, the semi-official Tasnim news agency reported on Wednesday.The announcement was made during a military exercise off the coast of Abu Musa island, one of three Gulf islands under Iranian control but disputed by the United Arab Emirates.
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.
South Korea’s KT Marine has welcomed its new vessel, a Fast Ferry 4212 named Hamel, delivered by Dutch shipbuilder Damen.KT Marine placed its order for the vessel earlier this year. Hamel will transport up to 423 passengers at speeds of up to 40 knots.The vessel will operate a route between Yeosu Harbour and Geomundo Island.
Singapore will seek compensation for the costs incurred in an oil spill last week from the owners of the stationary vessel that discharged the oil, local media CNA reported on Thursday.The Maritime and Port Authority told CNA that the shipowner of Singapore-flagged Marine Honour - which was hit by Netherlands-flagged dredger Vox Maxima - is liable for costs incurred in containing and cleaning
The authorities in Singapore have started the next phase of an oil spill clean-up operation, caused by the allision of a dredger and a bunker vessel, with the additional deployment of various booms and oil recovery systems.The Maritime and Port Authority of Singapore (MPA) said that 1500 meters of booms have been deployed
Digitalizing processes makes shipping more flexible, efficient and eco-friendly. Artificial Intelligence (AI) is playing role of growing importance in these efforts. At the leading international maritime trade fair in Hamburg, the topic will be covered in depth at the AI CENTER, where innovative start-ups will showcase their solutions.
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.
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