Following good results from a vessel treated with GIT Coatings’ graphene-based propeller coating XGIT-PROP in October 2023, Tampa, Fla.-headquartered Saltchuk Group member Overseas Shipholding Group Inc. (OSG) is to adopt the solution on seven further crude oil tankers.
The first application saw performance gains and fuel savings proven beyond expectations which was further validated by a third party with the vessel being tracked along its trade route covering the Pacific Ocean.
“At OSG, we...
Licensed deck officers at OSG have voted to be represented by the International Organization of Masters, Mates & Pilots (MMP). The union calls the vote the “largest licensed deck officer organizing win in the U.S. Merchant Marine in at least 50 years.”
OSG chief mates, floating chief mates, second mates, and third mates voted in the representation election.
Turnout was high: Over 90% of the OSG licensed deck officers voted in the election, which MM&P won by a wide margin.
OSG is a wholly owned...
https://www.marinelog.com/news/mmp-union-celebrates-major-organizing-win-at-osg/
Saltchuk Resources Inc. reports that it has successfully completed its previously announced tender offer to acquire all of the outstanding shares of common stock of Overseas Shipholding Group Inc. (NYSE: OSG) not already owned by Saltchuk for a purchase price of $8.50 per share in cash, an enterprise value of approximately $950 million. The transaction closed this morning, and OSG is now a wholly owned subsidiary of Saltchuk.
“With OSG, Saltchuk now numbers...
https://www.marinelog.com/news/saltchuk-resources-completes-osg-acquisition/
Tampa, Fla., headquartered Overseas Shipholding Group, Inc. (NYSE: OSG) had two announcements, Wednesday. In the morning it reported that it had determined to cancel its 2024 Annual Meeting of Stockholders scheduled for June 6, 2024 in consideration of its contemplated merger transaction with Saltchuk Resources, Inc. Then, later in the day, it announced that it had published its annual sustainability report.
The report includes information relating to the company’s efforts on environmental,...
https://www.marinelog.com/legal/environment/osg-releases-its-new-annual-sustainability-report/
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...
https://www.marinelog.com/legal/shipping/osg-set-to-be-acquired-by-saltchuk/
Seattle-based Saltchuk Resources, a diverse freight transportation and services company, has entered into a definitive agreement to acquire Overseas Shipholding Group (OSG) in a deal worth $950 million. OSG, a…
https://gcaptain.com/saltchuk-to-acquire-overseas-shipholding-group-in-950-million-deal/
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...
https://www.marinelog.com/inland-coastal/osgs-lco2-transportation-plans-get-a-3-million-boost/
U.S. flag tanker firm Overseas Shipholding Group, Inc. (OSG) has announced that it has been awarded a $3 million grant from the U.S. Department of Energy to fund the design and…
https://gcaptain.com/osg-receives-3-million-federal-grant-for-co2-transport-ship-design/
”It would be appropriate to state that we have ‘stuck the landing’ with our fourth quarter performance,” said Sam Norton, president and CEO of Tampa, Fla., headquartered Overseas Shipholding Group, Inc. (NYSE: OSG) as the company reported results for the fourth quarter and full year 2023.
Highlights included:
https://www.marinelog.com/legal/shipping/osgs-sam-norton-weve-stuck-the-landing/
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...
https://www.marinelog.com/legal/shipping/saltchuk-makes-a-new-offer-for-osg/