OSG set to be acquired by Saltchuk

Shares in NYSE-listed U.S.-flag tanker and ATB operator Overseas Shipholding Group Inc. (OSG) were trading up this morning on news that it has entered into a definitive merger agreement that will see it acquired by Saltchuk Resources Inc. Saltchuk first made an offer for OSG in 2021, then made a new offer in January of this year.

Under the terms of the merger agreement, family-owned Saltchuk will commence a tender offer to acquire all outstanding shares of OSG it does not already own for $8.50...


Chouest WTIV feeders to be built to ABS class

ABS is to class the offshore wind feedering fleet of two tugs and two barges that Edison Chouest Offshore has ordered to support Maersk Supply Services innovative wind turbine installation vessel (WTIV). As we reported earlier, the WTIV feeder solution aims to open access to a greater number of U.S. ports logistically.

Chouest and Maersk Supply partner up on U.S. offshore wind installation

Using U.S.-built Jones Act compliant tugs and barges to ferry turbine components, Maersk Supply Service’s...


OSG’s LCO2 transportation plans get a $3 million boost

Tampa, Fla., based Overseas Shipholding Group, Inc. (NYSE: OSG) has been awarded $3,000,000 by the U.S. Department of Energy for the engineering and design of an articulated tug and barge unit (ATB). OSG first announced its ambitions to get into the captured carbon storage and transportation business back in December last year and the LCO2 ATB’s role in those plans will be to transport CO2 captured by emitters in the Greater Tampa Bay region and from across the State of Florida to sequestration...


Master Boat Builders delivers tug Tortuga to Seaside LNG

Coden, Ala,, based Master Boat Builders has delivered the Tortuga. The second of two ATB tugs built by the yard for Seaside LNG/Polaris New Energy, it will be paired with the 5,000 cubic meter LNG bunkering barge Clean Everglades, delivered last year by Fincantieri Bay shipbuilding.

The Tortuga will operate out of Jacksonville, Fla., alongside its sister vessel, Polaris, which was delivered two Seaside LNG by Master Boat Builders in 2022 and is paired with the Clean Everglade’s sister barge, Clea...


Saltchuk makes a new offer for OSG

Privately held, Seattle-headquartered Saltchuk Resources Inc. has made a new offer to acquire NYSE-listed tanker and ATB operator Overseas Shipholding Group Inc. (OSG). Saltchuk, which is OSG’s largest shareholder, made an earlier offer to acquire the rest of OSG in June 2021 but suspended those discussions that September, citing pandemic-related market uncertainties.

Today, OSG confirmed that its board of directors had received an unsolicited non-binding indication of interest from Saltchuk for...


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...


Crowley and SEACOR in Jones Act JV

Crowley and SEACOR Holdings, through its Seabulk Tankers subsidiary, have reached an agreement to form a joint venture integrating their liquid energy and chemical transportation vessels, operations and related services into a new, independent U.S. Jones Act service provider, Fairwater Holdings LLC.

The new Jones Act JV’s fleet will include 20 ocean-going articulated tug-barges and 11 tankers, many under long-term charter. The joint venture will provide crewing and technical management for an...


Robert Allan designs new container-carrying ATBs for Brazil

ATB barge will have 700 TEU container capacity

Vancouver, B.C., based naval architecture firm Robert Allan Ltd. has been awarded a contract by Rio Maguari Shipyard (Estaleiro Rio Maguari – ERM), located in Belém, Brazil, to develop the design package for two articulated tug and barge (ATB) vessels for shipping containers along the coast of Brazil. The ATBs will be owned and operated by Maersk Group member Aliança Navegação e Logística (ANL), a major logistics services provider in Latin America.

Each ATB barge will have an approximately 700...


Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.