Overseas Shipholding Group

Overseas Shipholding Group Awards $30,500 in Scholarships with Women Offshore

Retrieved on: 
Tuesday, April 2, 2024
Manufacturing, Oil, Gas, Consumer, Training, Energy, Maritime, Other Education, Continuing, Philanthropy, Transport, Education, Foundation, Women, Other Manufacturing, Mentorship, OSG, Overseas Shipholding Group, Great Lakes Maritime Academy, Woman

Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) is proud to continue its efforts to remove barriers for women entering the maritime industry.

Key Points: 
  • Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) is proud to continue its efforts to remove barriers for women entering the maritime industry.
  • Through the Women Offshore Foundation, OSG gave $30,500 in scholarships to four women - two attending SUNY Maritime Academy, one at Great Lakes Maritime Academy and one at Maine Maritime Academy.
  • These awards will help alleviate the financial obstacles for deserving women and provide them an opportunity to succeed within our industry.”
    "The Women Offshore Foundation is thankful for OSG’s continued support of our Summer Sea Term Scholarships,” said Ally Cedeno, Founder and President of the Women Offshore Foundation.
  • These scholarships are part of OSG’s commitment to provide more than $90,000 in scholarships over a three-year period, with four recipients last year also receiving OSG scholarships.

Overseas Shipholding Group Declares Dividend

Retrieved on: 
Thursday, March 14, 2024
Maritime, Transport, Oil, Gas, Manufacturing, Energy, Other Manufacturing, Common stock, OSG, Overseas Shipholding Group, Growth, Holding company

Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that its Board of Directors has declared a cash dividend of $0.06 per share on its Class A Common Stock.

Key Points: 
  • Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that its Board of Directors has declared a cash dividend of $0.06 per share on its Class A Common Stock.
  • The dividend will be paid on April 11, 2024 to stockholders of record at the close of business on March 28, 2024.
  • Sam Norton, OSG’s President and CEO, commenting on the dividend declaration, stated, “After carefully considering the Company’s capital position, I am pleased that our Board has declared another dividend on the heels of our earnings release, which highlighted our Company’s strong financial condition.
  • The dividend aligns with our commitment to return value to our shareholders while still maintaining flexibility to pursue opportunities for growth in future business endeavors and to reduce debt exposure.” Mr. Norton added, “The Board of Directors intends to continue to consider future dividends and other possible uses for our excess cash on an ongoing basis.”

Overseas Shipholding Group Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Monday, March 11, 2024
Maritime, Transport, Oil, Gas, Manufacturing, Energy, Other Manufacturing, OSG, Overseas Shipholding Group, Employment, Exploration, Webcast, American Shipping Company, Investment, TCE, Page Eight, Video game

Fourth quarter 2023 Adjusted EBITDA was $47.3 million, an increase of $3.6 million, or 8.4%, from the fourth quarter of 2022.

Key Points: 
  • Fourth quarter 2023 Adjusted EBITDA was $47.3 million, an increase of $3.6 million, or 8.4%, from the fourth quarter of 2022.
  • Shipping revenues for the fourth quarter of 2023 were $116.0 million, a decrease of $5.7 million, or 4.7%, compared to the fourth quarter of 2022.
  • TCE revenues for the fourth quarter of 2023 were $110.1 million, a decrease of $4.0 million, or 3.5%, compared to the fourth quarter of 2022.
  • Operating income for the fourth quarter of 2023 was $25.9 million compared to operating income of $20.4 million for the fourth quarter of 2022.

Overseas Shipholding Group to Announce Fourth Quarter and Full Year 2023 Results on March 11, 2024

Retrieved on: 
Friday, March 1, 2024
Maritime, Transport, Oil, Gas, Manufacturing, Energy, Other Manufacturing, OSG, Overseas Shipholding Group, Webcast

Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that it plans to release its fourth quarter results of fiscal year 2023 before the market opens on Monday, March 11, 2024.

Key Points: 
  • Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that it plans to release its fourth quarter results of fiscal year 2023 before the market opens on Monday, March 11, 2024.
  • The Company will host a conference call and webcast to discuss its fourth quarter and full year 2023 results at 9:30 a.m.
  • ET on Monday, March 11, 2024.
  • A replay of the webcast will also be available on the website after the completion of the call.

Overseas Shipholding Group Confirms Receipt of Unsolicited Indication of Interest

Retrieved on: 
Monday, January 29, 2024
Maritime, Energy, Transport, Oil, Gas, Disclosure, Saltchuk, Acquisition, OSG, Overseas Shipholding Group

Overseas Shipholding Group, Inc. (the “Company” or “OSG”) (NYSE: OSG), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products primarily in the U.S.

Key Points: 
  • Overseas Shipholding Group, Inc. (the “Company” or “OSG”) (NYSE: OSG), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products primarily in the U.S.
  • Consistent with its fiduciary duties, OSG’s Board of Directors will be carefully considering and evaluating, in consultation with its financial and legal advisors, this indication of interest in due course.
  • OSG cautions its stockholders and others considering trading in its securities that it has just received Saltchuk's unsolicited indication of interest, and no decisions have been made by the Board of Directors with respect to the Company’s response to the indication of interest.
  • The Company does not intend to comment further on the unsolicited indication of interest or any related matters until its Board of Directors has determined that disclosure is necessary or appropriate.

Overseas Shipholding Group Pledges $90,000 to Massachusetts Maritime Academy Foundation

Retrieved on: 
Wednesday, January 10, 2024
Maritime, Transport, Oil, Gas, Philanthropy, Energy, Fund Raising, University, Foundation, Education, Woman, USMS, Partnership, Growth, Overseas, Massachusetts Maritime Academy, Longevity, Overseas Shipholding Group, Rear, OSG, Nursing

Overseas Shipholding Group, Inc. (the “Company” or “OSG”) continues to promote women to receive training to enter the maritime industry with a three-year pledge in the amount of $90,000 to the Massachusetts Maritime Academy.

Key Points: 
  • Overseas Shipholding Group, Inc. (the “Company” or “OSG”) continues to promote women to receive training to enter the maritime industry with a three-year pledge in the amount of $90,000 to the Massachusetts Maritime Academy.
  • "We are grateful for the generosity of Overseas Shipholding Group, Inc. in their commitment to establishing an OSG Scholarship Program at Massachusetts Maritime Academy," said Rear Admiral Francis X. McDonald, USMS, President of Massachusetts Maritime Academy.
  • This new partnership with Massachusetts Maritime Academy builds upon the momentum we have established previously to provide support for women in the industry,” says Sam Norton, OSG's President and CEO.
  • More information on the scholarships will be made available on the Massachusetts Maritime Academy’s website at https://www.maritime.edu/financial-aid/undergraduate-aid/awards .

Overseas Shipholding Group Awarded Federal Grant to Develop Captured Carbon Terminal at Port Tampa Bay

Retrieved on: 
Thursday, December 21, 2023
Environment, Climate Change, Maritime, Other Energy, Transport, Environmental Health, Oil, Gas, Green Technology, Energy, Carbon, Port Tampa Bay, United, OSG, Overseas Shipholding Group, Climate change, DOE, CO2

The study is intended to evaluate the commercial feasibility of developing an intermediate storage hub at Port Tampa Bay for CO2 captured from industrial emitters across the State of Florida.

Key Points: 
  • The study is intended to evaluate the commercial feasibility of developing an intermediate storage hub at Port Tampa Bay for CO2 captured from industrial emitters across the State of Florida.
  • “Overseas Shipholding Group has an extensive track record of adopting industry leading new technologies and developing innovative solutions in energy transportation,” said Sam Norton, President and CEO.
  • “OSG’s proposed hub site at Port Tampa Bay would aggregate and store CO2 captured from emitters for loading onto specialized liquified CO2 vessels to be operated by the Company.
  • Carbon capture and storage systems are expected to provide up to 30% of that total carbon emission reduction.

Overseas Shipholding Group Installs Starlink Satellite Internet Service on Entire Fleet

Retrieved on: 
Tuesday, December 19, 2023
Satellite, Software, Oil, Gas, Internet, Energy, Technology, Maritime, Transport, Quality of life, Family, ATC, Friends, OSG, Overseas Shipholding Group, Social media, Ship, Merchant

Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation services, is set to mark a pioneering moment in the Jones Act and US Flag industries by equipping all vessels in its fleet with Space X’s Starlink satellite internet service.

Key Points: 
  • Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation services, is set to mark a pioneering moment in the Jones Act and US Flag industries by equipping all vessels in its fleet with Space X’s Starlink satellite internet service.
  • Since the introduction to the market of Starlink’s Global Maritime service earlier this year, OSG’s IT department has worked to substantially complete installation of Starlink equipment on every vessel in the fleet of OSG and ATC, with full installation expected by year end.
  • OSG marks this advancement as part of the Company’s commitment to a new era of seamless connectivity for seafarers on board all OSG vessels.
  • The goal of the Starlink install was to enhance vessel communications and improve our crew’s ability to connect with family and friends.

Overseas Shipholding Group, Inc. to Upgrade Engines on Alaskan Class Vessels

Retrieved on: 
Thursday, December 14, 2023
Other Energy, Maritime, Logistics, Supply Chain Management, Oil, Gas, Transport, Energy, Other Transport, Carbon, MAN Energy Solutions, CII, OSG, Methanol, CO2, Overseas Shipholding Group, LCU, Exploration, SE, Life, Whaling, Renewable energy

Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation, announced a comprehensive lifecycle engine upgrade (LCU) program for all four vessels in its Alaskan Class fleet to be achieved through a contract with MAN Energy Solutions SE.

Key Points: 
  • Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation, announced a comprehensive lifecycle engine upgrade (LCU) program for all four vessels in its Alaskan Class fleet to be achieved through a contract with MAN Energy Solutions SE.
  • The vessels Alaskan Explorer, Alaskan Frontier, Alaskan Legend, and Alaskan Navigator, all approaching 20 years in age, will receive significant engine and operational improvements, resulting in environmental benefits as well as extending their commercially useful life.
  • Capability to meet Carbon Intensity Indicator (CII) regulations without sacrificing operational capacity of the vessels for years to come.
  • The upgrade of these vessels’ main engines should allow that goal to be achieved over the next decade, adding years of CII compliance for these vessels to generate additional cashflows through 2035.

Overseas Shipholding Group Declares Dividend and Increases Share Repurchase Program

Retrieved on: 
Wednesday, December 6, 2023
Maritime, Transport, Oil, Gas, Manufacturing, Energy, Other Manufacturing, Common stock, Share repurchase, Overseas Shipholding Group, NYSE, OSG, Public expenditure, Holding company

Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that its Board of Directors has declared a cash dividend of $0.06 per share on its Class A Common Stock.

Key Points: 
  • Overseas Shipholding Group, Inc. (NYSE: OSG) (the “Company” or “OSG”) announced today that its Board of Directors has declared a cash dividend of $0.06 per share on its Class A Common Stock.
  • In addition, OSG announced that its Board authorized the repurchase of an additional $25 million of common stock under its existing stock repurchase program.
  • The incremental stock repurchase authorization will add to the $75.7 million of stock repurchases and warrant retirements made since June of 2022.
  • The Company intends to fund the share repurchase program with excess cash.