Profile: Overseas Shipholding Group Inc (OSG.N)
24 Feb 2017
Overseas Shipholding Group, Inc. (OSG), incorporated on July 22, 1969, and its subsidiaries own and operate a fleet of oceangoing vessels engaged in the transportation of crude oil and petroleum products in the International Flag and the United States Flag trades. The Company operates through three segments: International Crude Tankers, International Product Carriers and U.S. Flag Fleet Operations (U.S. Flag). The Company manages the operations of its International Flag and the United States Flag fleets through its subsidiaries OSG International, Inc. (OIN) and OSG Bulk Ships, Inc. (OBS). The Company owns or operates a fleet of approximately 80 vessels of which over 50 vessels operated in the International Flag market and 20 operated in the United States Flag market. The Marshall Islands is the principal flag of registry of the Company's International Flag vessels.
The Company's vessel operations are organized into approximate two business units and focused on market segments: International Flag, including crude oil and refined petroleum products, and U.S. Flag. Its 55-vessel International Flag fleet consists of ultra large crude carrier (ULCC), very large crude carrier (VLCC), Aframax, and Panamax crude tankers, as well as long range1 (LR1), LR2 and medium range (MR) product carriers. The U.S. Flag unit manages the Company's 24-vessel U.S. Flag fleet. Through joint venture partnerships, the Company also has ownership interests in approximately four liquefied natural gas (LNG) carriers and over two floating storage and offloading (FSO) service vessels, which are included in the International Flag fleet. Its customers include independent and state-owned oil companies, oil traders, refinery operators and the United States and international government entities.
International Crude Tankers
The Company's International Crude Tankers segment is made up of a ULCC and a fleet of VLCCs, Aframaxes and Panamaxes. Its tankers are engaged in the transportation of unrefined petroleum around the world.
International Product Carriers
The Company's International Product Carriers segment consists of a fleet of MRs, LR1 and an LR2 engaged in the transportation of crude and refined petroleum products across the world. Its refined petroleum product cargoes are transported from refineries to consuming markets characterized by both long and short-haul routes.
U.S. Flag Fleet Operations
The Company's U.S. Flag Fleet consists of approximately 20 owned and chartered-in Jones Act Handysize Product Carriers and Articulated Tug Barges (ATBs) and over two non-Jones Act Handysize Product Carriers. The Company is a commercial owner and operator of U.S. Flag vessels and it has participated in the United States government programs, including Maritime Security Program and Maritime Administration of the United States Department of Transportation (MarAd) trading restrictions.
Overseas Shipholding Group Inc
1301 Avenue of the Americas
NEW YORK NY 10019