Alaskan Frontier

OSG’s Sam Norton: “Our business plan is working”

“We made progress on all of our key objectives since our report for the second quarter,” said Sam Norton, president and CEO of Overseas Shipholding Group (NYSE: OSG) as the U.S.-flag tanker and ATB operator reported its results for the third quarter “Adjusted EBITDA increased by more than 20% from the second quarter. We completed transactions to repurchase the equivalent of 7.2 million shares, returning nearly $30 million to our shareholders. We took steps to add additional earning assets to...

https://www.marinelog.com/news/osgs-sam-norton-our-business-plan-is-working/

OSG to buy and reactivate Alaskan Frontier

Tampa, Fla., headquartered Overseas Shipholding Group Inc. (NYSE:OSG) has reached an agreement with BP Oil Shipping Company, USA, to purchase the 2004-built U.S.-flag tank vessel Alaskan Frontier, a sister vessel to three other Alaskan Class tankers operated by OSG’s wholly owned subsidiary, Alaskan Tanker Company. Following the expected early November completion of the transaction, OSG intends to reactivate the 193,049 dwt capacity tanker which has been in cold layup in Malaysia since 2019.

OSG...

https://www.marinelog.com/legal/shipping/osg-to-buy-and-reactivate-alaskan-frontier/