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: 2015
Exchange: NYSE
Website: osg.com
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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
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
Purchase Price of $8.50 per Share in Cash Transaction Valued at $950 Million Overseas Shipholding Group, Inc. ("OSG" or the "Company") (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. Flag markets, and Saltchuk Resources, Inc. ("Saltchuk"), a privately owned family of diversified freight transportation, marine service, and energy distribution companies, today announced that they have entered into a definitive merger agreement pursuant to which Saltchuk has agreed to acquire OSG in a transaction that values the Company at an aggregate equity value of approximately $653 million and a tot
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"), a leading provider of energy transportation services, announced today that the Company has been awarded a $3,000,000 grant from the United States Department of Energy for the engineering and design of a new vessel that will transport liquified carbon dioxide (LCO2). The award will be used to develop the design of an articulated tug and barge unit (ATB) to be used to transport CO2 captured by emitters in the Greater Tampa Bay region and across the State of Florida to sequestration sites in the Gulf of Mexico. The new vessel grant provides further resources towards the development of a complete CO2 storage and transport s
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. The scholarships will empower these women cadets to achieve their deck and engine credentials during their 2024 summer sea term as they pursue careers within the maritime industry. "We are incredibly proud to support these exceptional women as they follow their aspirations to pursue a fulfilling career within the US maritime sector," sa
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
LYSAKER, NORWAY and NEW ORLEANS, Aug. 22, 2023 /PRNewswire/ -- AMSC ASA ("AMSC") and Maritime Partners, LLC today announced that AMSC and Project Merchant Acquisition LLC (the "PM Acquisition"), a newly-formed company owned and controlled by a fund managed by Maritime Partners, LLC, have signed a share purchase agreement (the "SPA") for PM Acquisition's purchase of American Tanker Holding Company, Inc. (the "ATHC"), a wholly-owned subsidiary of AMSC, (the "Transaction"). ATHC, through its subsidiaries, owns nine handysize products tankers and one handysize shuttle tanker, all of which are on long-term bareboat charter to Overseas Shipholding Group Inc. (NYSE:OSG) or Keystone Shipping Co. and
LYSAKER, Norway and NEW ORLEANS, Aug. 22, 2023 /PRNewswire/ -- AMSC ASA ("AMSC") and Maritime Partners, LLC today announced that AMSC and Project Merchant Acquisition LLC (the "PM Acquisition"), a newly-formed company owned and controlled by a fund managed by Maritime Partners, LLC, have signed a share purchase agreement (the "SPA") for PM Acquisition's purchase of American Tanker Holding Company, Inc. (the "ATHC"), a wholly-owned subsidiary of AMSC, (the "Transaction"). ATHC, through its subsidiaries, owns nine handysize products tankers and one handysize shuttle tanker, all of which are on long-term bareboat charter to Overseas Shipholding Group Inc. (NYSE:OSG) or Keystone Shipping Co. and
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MOLN: 11% | Molecular Partners shares are trading higher after the company announced the debut of their lead Raido-DARPin therapy candidate MP0712, targeting DLL3. OSG: 63% | QuantaSing Group Limited Announced Up To US$20M Share Repurchase Program CMND: 29% | Clearmind Medicine shares are trading higher after the company announced advancement in its proprietary MEAI-based alcohol substitute beverage program.
As of June 7, 2024, three stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. StealthGas Inc (NASDAQ:GASS) On May 22, StealthGas posted better-than-expected quarterly results.
U.S. stocks were higher, with the Nasdaq Composite gaining around 100 points on Monday. Shares of Overseas Shipholding Group, Inc. (NYSE:OSG) rose sharply during Monday's session after the company announced it entered into a definitive merger agreement to be acquired by Saltchuk Resources. The transaction is valued at an aggregate equity value of around $653 million and a total transaction value of $950 million. Overseas Shipholding Group shares climbed 22.8% to $8.43 on Monday. Here are some other big stocks recording gains in today's session. Hims & Hers Health, Inc. (NYSE:HIMS) shares jumped 30.5% to $19.01 after the company announced the addition of GLP-1 injections to it
Overseas Shipholding Group, Inc. (NYSE:OSG) shares are trading higher after the company announced it entered into a definitive merger agreement to be acquired by Saltchuk Resources. The transaction is valued at an aggregate equity value of around $653 million and a total transaction value of $950 million. As per the terms, Saltchuk will commence a tender offer to fully acquire Overseas Shipholding it does not already own for $8.50 per share in cash. The purchase price represents a 61% premium to Overseas Shipholding’s 30-day volume-weighted average price on January 26, 2024, the last day of trading before Saltchuk disclosed its non-binding indication of interest, as well as a 44% pr
Overseas Shipholding Group, Inc. ("OSG" or the "Company") (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. Flag markets, and Saltchuk Resources, Inc. ("Saltchuk"), a privately owned family of diversified freight transportation, marine service, and energy distribution companies, today announced that they have entered into a definitive merger agreement pursuant to which Saltchuk has agreed to acquire OSG in a transaction that values the Company at an aggregate equity value of approximately $653 million and a total transaction value of $950 million. \Under the terms of the agreement, which ha
Overseas Shipholding Gr (NYSE:OSG) reported quarterly earnings of $0.19 per share. This is a 35.71 percent increase over earnings of $0.14 per share from the same period last year. The company reported $117.50 million in sales this quarter. This is a 3.26 percent increase over sales of $113.79 million the same period last year.
Overseas Shipholding Gr (NYSE:OSG) reported quarterly earnings of $0.26 per share. This is a 136.36 percent increase over earnings of $0.11 per share from the same period last year. The company reported $116.02 million in sales this quarter. This is a 4.71 percent decrease over sales of $121.76 million the same period last year.
Companies Reporting Before The Bell • Ballard Power Systems (NASDAQ:BLDP) is estimated to report quarterly loss at $0.13 per share on revenue of $34.20 million. • Endeavor Gr Hldgs (NYSE:EDR) is likely to report quarterly earnings at $0.02 per share on revenue of $49.47 million. • SilverCrest Metals (AMEX:SILV) is likely to report quarterly earnings at $0.10 per share on revenue of $44.09 million. • Global X Silver Miners ETF (NYSE:SIL) is likely to report quarterly earnings at $0.10 per share on revenue of $44.09 million. • Legend Biotech (NASDAQ:LEGN) is projected to report quarterly loss at $0.83 per share on revenue of $86.52 million. • Genie Energy (NYSE:GNE) is projected to repor
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