Overseas Shipholding Group

All four OSG Alaska class tankers to get engine upgrades

Tampa, Fla., headquartered Overseas Shipholding Group Inc. (NYSE:OSG) has signed a contract with MAN Energy Solutions SE that will see all four of the nearly 20-year old OSG Alaska class tankers get a comprehensive lifecycle engine upgrade that will include making them ready for methanol fueling.

As we reported earlier, in October, OSG reached an agreement to purchase the fourth of the ships, Alaska Frontier, which had been in cold layup in Malaysia since 2019 and return it to service after a...

https://www.marinelog.com/shipbuilding/engines-fuel/all-four-osg-alaska-class-tankers-to-get-engine-upgrades/

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/

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