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

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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

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

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