Sam Norton

OSG releases its new annual sustainability report

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/

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...

https://www.marinelog.com/legal/shipping/osg-set-to-be-acquired-by-saltchuk/

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...

https://www.marinelog.com/inland-coastal/osgs-lco2-transportation-plans-get-a-3-million-boost/

OSG’s Sam Norton: “We’ve stuck the landing!”

”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:

  • 2023 net income was $62.5 million, or $0.77 per diluted share, compared to net income of $26.6 million, or $0.29 per diluted share, in 2022. Net income for the fourth quarter of 2023 was...

https://www.marinelog.com/legal/shipping/osgs-sam-norton-weve-stuck-the-landing/

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 takes delivery of second 204,000 barrel barge

The Greenbrier Gunderson shipyard in Portland, Ore., has now delivered the 204,000 barrel capacity oil and chemical tank barge OSG 205, to Overseas Shipholding Group, Inc. This is the second tank barge that Greenbrier Marine has delivered to OSG this year, after delivering its sister barge OSG 204 in May.

OSG 205 was sponsored by OSG Board Member Anja L. Manuel and the vessel was paired with an existing tug, the OSG Courageous.

“It has been a pleasure collaborating with OSG during the...

https://www.marinelog.com/coastal/tugs-barges/osg-takes-delivery-of-second-204000-barrel-barge/

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