Overseas Shipholding Group, Inc., together with its subsidiaries, owns and operates a fleet of oceangoing vessels. Its vessels are engaged in the transportation of crude oil and petroleum products in the United States flag trades. As of December 31, 2019, the company owned or operated a fleet of 21 vessels totaling an aggregate of approximately 1 million deadweight tons. It serves independent oil traders, refinery operators, and the United States and international government entities. The company was founded in 1948 and is headquartered in Tampa, Florida.
IPO Year:
Exchange: NYSE
Website: osg.com
8-K - OCTAVE SPECIALTY GROUP INC (0000874501) (Filer)
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8-K - OVERSEAS SHIPHOLDING GROUP INC (0000075208) (Filer)
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4 - OCTAVE SPECIALTY GROUP INC (0000874501) (Issuer)
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4 - OVERSEAS SHIPHOLDING GROUP INC (0000075208) (Issuer)
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Total P&C premium production increased 15% for the quarter to $303 million Insurance Distribution Segment Commission Income grew to $37 million, an increase of 13% Organic revenue growth equaled 8.1% Net loss to Shareholders of $(1) million for the quarter, an improvement of 76% Adjusted EBITDA to Shareholders of $7 million for the quarter, up 33% Specialty P&C Insurance ("Everspan") Gross and net premiums written of $80 million and $23 million were up 34% and 978%, respectively Combined ratio fell below 100% Net income to Shareholders was $1 million, down 37% Adjusted EBITDA to Shareholders of $1.5 million, down 46% Octave Specialty Group, Inc. (NYSE:O
Hammurabi, a division of accident and health managing general underwriter Xchange Benefits LLC, a subsidiary of Octave Specialty Group, Inc. (NYSE:OSG), has unveiled an artificial intelligence platform that fundamentally transforms how medical stop loss insurance is underwritten, replacing a traditionally labor-intensive process with near-instant risk prediction and pricing accuracy. Designed to deliver efficiencies in the $40 billion medical stop loss market, Hammurabi's proprietary neuro-semiotic models apply advanced machine learning to predict employer health risk with speed and precision. The result is a dramatic reduction in standard market underwriting timelines—from days to minute
Darwin Lucas appointed President and Nicole Crowley promoted to General Counsel Everspan Group ("Everspan"), a specialty property and casualty insurance platform and wholly owned subsidiary of Octave Specialty Group, Inc. (NYSE:OSG), today announced two leadership changes to support its next phase of growth. Effective immediately, Darwin Lucas will become President, succeeding Steve Dresner, and Nicole Crowley has been promoted to General Counsel. Lucas has served as Chief Underwriting and Reinsurance Officer since 2023, a role he will continue to hold. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260210484478/en/Everspan Gr
Conference Call Scheduled for February 24, 2026 Octave Specialty Group, Inc. (NYSE:OSG), a global specialty insurance firm, will release fourth quarter 2025 results on February 23, 2026, following the close of the market. Conference Call On February 24, 2026, at 8:30am (ET), Claude LeBlanc, President and Chief Executive Officer, and David Trick, Executive Vice President and Chief Financial Officer, will discuss fourth quarter 2025 results during a live conference call. A live audio webcast of the call will be available through the Investor Relations section of Octave's website, www.octavegroup.com. Participants may also listen via telephone by dialing (877) 407-9716 (Domestic) or (201
Audit Committee Appoints Ernst & Young LLP as Auditor for the Year Ended December 31, 2026 KPMG to Remain the Auditor for the Year Ended December 31, 2025 Octave Specialty Group, Inc. (NYSE:OSG) today announced that as a result of a review process, the Audit Committee of its Board of Directors has approved the engagement of Ernst & Young LLP ("EY") as the Company's independent registered public accounting firm for the Company's fiscal year ended December 31, 2026, subject to completion of EY's client acceptance procedures and the execution of an engagement letter. KPMG LLP ("KPMG"), the Company's current independent registered public accounting firm, will continue as the Company's indepen
Saltchuk Resources, Inc. ("Saltchuk") today announced that it has successfully completed its previously announced tender offer to acquire all of the outstanding shares of common stock of Overseas Shipholding Group, Inc. (NYSE:OSG) not already owned by Saltchuk for a purchase price of $8.50 per share in cash, an enterprise value of approximately $950 million. The transaction closed this morning, and OSG is now a wholly owned subsidiary of Saltchuk. "With OSG, Saltchuk now numbers more than 8,500 people who share one thing in common: every day we strive to safely, responsibly, and reliably perform our services," Saltchuk Chairman Mark Tabbutt stated. "As with our other businesses, OSG will
Saltchuk Resources, Inc. ("Saltchuk") and Overseas Shipholding Group, Inc. (NYSE:OSG) ("OSG") today announced the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the "HSR Act") with respect to the previously announced cash tender offer by a wholly-owned subsidiary of Saltchuk for all issued and outstanding shares of Class A common stock of OSG at a price of $8.50 per share (the "Offer"). The expiration of the waiting period occurred at 11:59 p.m. on June 25, 2024. The expiration of the HSR Act waiting period satisfies one of the conditions to the consummation of the Offer. Other customary conditions still remain to be satisfied, in
SEATTLE and TAMPA, Fla., June 17, 2024 /PRNewswire/ -- Saltchuk Resources, Inc. ("Saltchuk") and Overseas Shipholding Group, Inc. (NYSE:OSG) ("OSG") announced that on June 10, 2024, Saltchuk's wholly-owned subsidiary, Seahawk MergeCo., Inc. ("Purchaser"), commenced its tender offer (the "Offer") for all issued and outstanding shares of Class A common stock ("Shares") of OSG at a price of $8.50 per Share in cash, subject to any applicable tax withholding and without interest (the "Offer Price"). The Offer is being made in connection with the Agreement and Plan of Merger, dated as of May 19, 2024, by and among Saltchuk, Purchaser and OSG (the "Merger Agreement"), which Saltchuk and OSG announc
Overseas Shipholding Group, Inc. (NYSE:OSG) (the "Company" or "OSG") today announced that it has published its annual Sustainability Report. The report includes information relating to the Company's efforts on environmental, social, and corporate governance practices during 2023, as well as its long-term plans to evolve in these areas. The Sustainability Report can be found on the Company's website at www.osg.com/safety-environment. Sam Norton, the Company's CEO, and Rebecca DeLaet, the Company's Chair of the Corporate Governance and Risk Assessment Committee, stated in the report, "Our recent financial success and operational efficiencies have allowed OSG to sharpen its focus on the futu
Overseas Shipholding Group, Inc. (NYSE:OSG) ("OSG") announced today that it has 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. For more information regarding such transaction, please see OSG's press release issued on May 20, 2024 entitled "Overseas Shipholding Group Enters Into a Definitive Agreement to Be Acquired by Saltchuk Resources, Inc. - Purchase Price of $8.50 per Share in Cash - Transaction Valued at $950 Million." About Overseas Shipholding Group, Inc. Overseas Shipholding Group, Inc. is a publicly traded company providing liquid bulk transportation se
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Audit Committee Appoints Ernst & Young LLP as Auditor for the Year Ended December 31, 2026 KPMG to Remain the Auditor for the Year Ended December 31, 2025 Octave Specialty Group, Inc. (NYSE:OSG) today announced that as a result of a review process, the Audit Committee of its Board of Directors has approved the engagement of Ernst & Young LLP ("EY") as the Company's independent registered public accounting firm for the Company's fiscal year ended December 31, 2026, subject to completion of EY's client acceptance procedures and the execution of an engagement letter. KPMG LLP ("KPMG"), the Company's current independent registered public accounting firm, will continue as the Company's indepen
OSG seeks to improve gender diversity in the maritime industry through scholarships to women pursuing careers at sea Overseas Shipholding Group, Inc. ("OSG") continues their efforts to remove financial barriers for women entering the maritime industry with a scholarship pledge in the amount of $30,000. The scholarship funds will be used to support the Women Offshore Foundation's 2024 Summer Sea Term Scholarship Program that is designed to help women+ enrolled at a U.S. maritime academy with financial support while they pursue a career on the water. This scholarship pledge is in addition to the $30,000 OSG provided to the Women Offshore Foundation used for four scholarships for the 2023 su
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Total P&C premium production increased 15% for the quarter to $303 million Insurance Distribution Segment Commission Income grew to $37 million, an increase of 13% Organic revenue growth equaled 8.1% Net loss to Shareholders of $(1) million for the quarter, an improvement of 76% Adjusted EBITDA to Shareholders of $7 million for the quarter, up 33% Specialty P&C Insurance ("Everspan") Gross and net premiums written of $80 million and $23 million were up 34% and 978%, respectively Combined ratio fell below 100% Net income to Shareholders was $1 million, down 37% Adjusted EBITDA to Shareholders of $1.5 million, down 46% Octave Specialty Group, Inc. (NYSE:O
Conference Call Scheduled for February 24, 2026 Octave Specialty Group, Inc. (NYSE:OSG), a global specialty insurance firm, will release fourth quarter 2025 results on February 23, 2026, following the close of the market. Conference Call On February 24, 2026, at 8:30am (ET), Claude LeBlanc, President and Chief Executive Officer, and David Trick, Executive Vice President and Chief Financial Officer, will discuss fourth quarter 2025 results during a live conference call. A live audio webcast of the call will be available through the Investor Relations section of Octave's website, www.octavegroup.com. Participants may also listen via telephone by dialing (877) 407-9716 (Domestic) or (201
Overseas Shipholding Group, Inc. (NYSE:OSG) (the "Company" or "OSG"), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products in the U.S. Flag markets, today reported results for the first quarter of 2024. Net income for the first quarter of 2024 was $14.6 million, or $0.19 per diluted share, compared to net income of $12.1 million, or $0.14 per diluted share, for the first quarter of 2023. Adjusted EBITDA(A), a non-GAAP measure, for the first quarter of 2024 was $43.9 million, an increase of $3.0 million, or 7.3%, from the first quarter of 2023. Shipping revenues for the first quarter of 2024 were $117.5 million, an inc
Overseas Shipholding Group, Inc. (NYSE:OSG) (the "Company" or "OSG") announced today that it plans to release its first quarter results of fiscal year 2024 before the market opens on Friday, May 10, 2024. The Company will host a conference call and webcast to discuss its first quarter of fiscal year 2024 results at 9:30 a.m. ET on Friday, May 10, 2024. Event: OSG's Q1 2024 Earnings Release Conference Call When: Friday, May 10, 2024 at 9:30 a.m. ET Dial-In: (844) 850-0546 (US) or (412) 317-5203 (International) Participants have an option of calling in to listen or watching a live audio webcast and slide presentation available at the Investors section of the Company's website located at
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 mai
Overseas Shipholding Group, Inc. (NYSE:OSG) (the "Company" or "OSG"), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products in the U.S. Flag markets, today reported results for the fourth quarter and full year 2023. 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 $20.4 million, or $0.26 per diluted share, compared to net income of $10.1 million, or $0.11 per diluted share, for the fourth quarter of 2022. Full year Adjusted EBITDA(A), a non-GAAP measure, for 2023 was $175.7 million, an
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. Event: OSG's Q4 2023 Earnings Release Conference Call When: Monday, March 11, 2024 at 9:30 a.m. ET Dial-In: (844) 850-0546 (US) or (412) 317-5203 (International) Participants have an option of calling in to listen or watching a live audio webcast and slide presentation available at the Investors section of the Company's website loc
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 – the first dividend declared by OSG since the spinoff of its international division in 2016 – will be paid on January 4, 2024 to stockholders of record at the close of business on December 21, 2023. 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 Jun
Overseas Shipholding Group, Inc. (NYSE:OSG) (the "Company" or "OSG"), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products in the U.S. Flag markets, today reported results for the third quarter of 2023. Net income for the third quarter of 2023 was $17.6 million, or $0.22 per diluted share, compared with net income of $13.2 million, or $0.15 per diluted share, for the third quarter of 2022. Third quarter 2023 Adjusted EBITDA(A), a non-GAAP measure, was $48.1 million, an increase of $5.8 million, or 13.7%, from the third quarter of 2022. Shipping revenues for the third quarter of 2023 were $115.4 million, a decrease of
Overseas Shipholding Group, Inc. (NYSE:OSG) (the "Company" or "OSG") announced today that it plans to release its third quarter results of fiscal year 2023 before the market opens on Monday, November 6, 2023. The Company will host a conference call and webcast to discuss its third quarter 2023 results at 9:30 a.m. ET on Monday, November 6, 2023. Event: OSG's Q3 2023 Earnings Release Conference Call When: Monday, November 6, 2023 at 9:30 a.m. ET Dial-In: (844) 850-0546 (US) or (412) 317-5203 (International) Participants have an option of calling in to listen or watching a live audio webcast and slide presentation available at the Investors section of the Company's website located at
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