Search results for: OSG International

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  • 18 July 2016

    New York City-based Overseas Shipholding Group on Friday said it intends to spin off its international business that includes four ownership interests in four liquefied natural gas carriers.

  • 18 July 2016
    Business & Finance

    NYSE-listed Overseas Shipholding Group (OSG) has filed a registration statement on Form 10 with the US Securities and Exchange Commission in connection with the tanker company’s previously announced plan to separate its international and domestic businesses. OSG expects that any separation would be achieved through a spin-off of OSG International, Inc. in the second half […]

  • 25 October 2016
    Business & Finance

    NYSE-listed Overseas Shipholding Group’s (OSG) ratings have been placed under review for downgrade by Moody’s rating agency, after the company received an approval to separate its business units into two independent companies. Ratings placed under review for downgrade include OSG’s B2 corporate family and Caa1 senior unsecured ratings, and the B1 and Ba2 senior secured […]

  • 11 November 2014
    Business & Finance

    Mitsui O.S.K. Lines (MOL), Asahi Tanker Co., Ltd., Ultranav International S. A., and OSG International, Inc, Ltd. have signed an agreement governing the formation of a new mdium range product tankers (MR) pool, MOL announced. The new pool named “Clean Products Tankers Alliance” will operate a combined fleet of around 60 MR vessels, ranging from 45,000 to […]

  • 29 November 2016
    Business & Finance

    The ratings of NYSE-listed tanker owner and operator Overseas Shipholding Group, Inc. (OSG) have been downgraded in anticipation of the spin-off of its international business/subsidiary, International Seaways, Inc. (INSW), previously named OSG International, Inc, according to Moody’s rating agency. This includes a downgrade of the company’s Corporate Family Rating (CFR) to B3 from B2 and Probability of […]

  • 31 May 2013
    Business & Finance

    Twenty shipping lines were honored today by the Port of Long Beach for efforts to improve air quality locally by slowing down or deploying cleaner vessels – or both – at the annual Green Flag and Green Ship awards. The Port’s Green Flag Program was created in 2005 and participation today is nearly universal. In […]

  • 1 December 2016
    Business & Finance

    NYSE-listed tanker owner and operator Overseas Shipholding Group (OSG) has completed the previously announced separation of the company into two independent, publicly traded companies – Overseas Shipholding Group and International Seaways (INSW).  Earlier this year, OSG filed a registration statement on Form 10 with the US Securities and Exchange Commission in connection with the firm’s […]

  • 7 March 2017
    Business & Finance

    NYSE-listed tanker owner and operator Overseas Shipholding Group (OSG) suffered a full-year net loss of USD 293.6 million in 2016, compared with a net income of USD 284 million seen in 2015.  Following the spin-off of the company’s businesses, a net loss from continuing operations for the full year 2016 was USD 1.1 million, compared with […]

  • 24 October 2016
    Business & Finance

    NYSE-listed Overseas Shipholding Group (OSG) has received approval to separate its international and domestic businesses into two independent, publicly traded companies Overseas Shipholding Group and International Seaways. Upon separation, International Seaways will own and operate one of the largest fleets of international crude and product tankers worldwide, according to the company. OSG will consist of […]

  • 24 January 2017
    Business & Finance

    The US Securities and Exchange Commission (SEC) has charged shipping conglomerate Overseas Shipholding Group (OSG) and its former chief financial officer (CFO) Myles R. Itkin with failing to recognize around USD 512 million in tax liabilities in its financial statements. According to the SEC’s order instituting settled cease-and-desist proceedings, OSG’s credit agreements from 2000 to […]

  • 31 March 2020
    Business & Finance

    Overseas Shipholding Group (OSG) closes a USD 33,150,000 loan to finance its new oil and chemical ATB.

  • 14 January 2014
    Business & Finance

    Overseas Shipholding Group, Inc. intends to outsource the technical management of its International Flag shipping business to V.Ships, a leading third-party ship manager. The outsourcing contract with V.Ships is subject to the approval of the Bankruptcy Court. The Company’s U.S. Flag business will continue with its current strategy and will continue to be headquartered in […]

  • 12 August 2014

    Overseas Shipholding Group, owner of four LNG carriers, said that Robert Johnston, President and Chief Executive Officer, will retire from the company. He will continue to advise OSG as a consultant through mid-2015. “Bob’s contributions to OSG’s success over the past 45 years cannot be overstated,” said John Ray, Chairman of the Board of OSG. “He is […]

  • 27 September 2010

    Overseas Shipholding Group, Inc. , a market leader providing global energy transportation services, today made certain organizational announcements. OSG will move commercial management of its liquefied natural gas (LNG) carrier fleet, which had been managed as a standalone business unit, to the Company’s International Product Carrier and Gas strategic business unit, headed by Lois K. […]

  • 10 May 2017
    Business & Finance

    US-based oil tanker company Overseas Shipholding Group (OSG) had a challenging start of the year reporting a slashed net income of USD 5.4 million for the quarter ended March 31, 2017, compared to USD 50.7 million a year earlier. However, net income for the prior year period included income from discontinued operations from International Seaways […]

  • 2 October 2019
    Business & Finance

    Overseas Shipholding Group takes delivery of two 50,000 dwt product and chemical tankers in Korea.

  • 27 December 2019
    Business & Finance

    OSG pens deals to purchase crude oil carrier vessels operated by Alaska Tanker Company.

  • 11 August 2015
    Business & Finance

    NYSE-listed tanker owner and operator Overseas Shipholding Group (OSG) ended the second quarter of 2015 with USD 58.4 million net profit, compared to USD 202 million net loss this bankruptcy survivor reported in the second quarter  of 2014. Time Charter Equivalent (TCE) revenues grew to USD 235.2 million for the quarter, an increase of USD 63.6 million compared […]

  • 11 August 2015
    Business & Finance

    NYSE-listed tanker owner and operator Overseas Shipholding Group (OSG) ended the second quarter of 2015 with USD 58.4 million net profit, compared to USD 202 million net loss this bankruptcy survivor reported in the second quarter  of 2014. Time Charter Equivalent (TCE) revenues grew to USD 235.2 million for the quarter, an increase of USD 63.6 million compared […]

  • 9 August 2016
    Business & Finance

    New York-listed Overseas Shipholding Group (OSG), a provider of oceangoing energy transportation services, saw its net income for the second quarter drop to USD 29.9 million from the USD 58.4 million reported in the second quarter of 2015. For the first half of the year, the company’s net income decreased to USD 80 million from USD 101.3 million reported […]

  • 14 November 2012
    Business & Finance

    Overseas Shipholding Group, Inc., an energy transportation service company, today filed voluntary Chapter 11 petitions for itself and certain operating subsidiaries in the U.S. Bankruptcy Court for the District of Delaware. The company intends to use the Chapter 11 process to significantly reduce its debt profile, reorganize other financial obligations and create a strong financial […]

  • 15 November 2012

    Overseas Shipholding Group, a market leader providing global energy transportation services, filed voluntary Chapter 11 petitions for itself and certain operating subsidiaries in the U.S. Bankruptcy Court for the District of Delaware. The company intends to use the Chapter 11 process to significantly reduce its debt profile, reorganize other financial obligations and create a strong […]