• 2018 December 11 12:01

    Overseas Shipholding Group and American Shipping Company jointly announce extension of tanker charters

    Overseas Shipholding Group, Inc. and American Shipping Company jointly announced that OSG has exercised options to extend its charter agreements with AMSC for nine vessels currently under charter from AMSC. Charter agreements for five of the vessels were extended for additional three-year terms, commencing from December 2019 and ending in December 2022. The charter agreements for four vessels were extended for one-year terms commencing from December 2019 and ending in December 2020. OSG previously exercised its option to extend its charter agreement for the 10th vessel that it leases from AMSC, extending that charter into 2025. As a result, all ten bareboat charter agreements with AMSC have now been extended for additional periods.

    The charter agreements provide that each one-year option is only usable once, while the three- and five-year options are available indefinitely. The lease payments for the charters-in are fixed throughout the option periods, and the options are on a vessel-by-vessel basis and can be exercised individually.

    About Overseas Shipholding Group, Inc.

    Overseas Shipholding Group, Inc. is a publicly traded tanker company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG’s 21-vessel U.S. Flag fleet consists of 5 conventional ATBs, two lightering ATBs, three shuttle tankers, nine MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. In addition to the currently operating fleet, OSG has on order two additional non-Jones Act MR tankers and one Jones Act compliant barge which are scheduled for delivery in 2019 and 2020 respectively. OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL.

    About American Shipping Company ASA:

    Established in 2005 and listed on the Oslo Stock Exchange, AMSC is a ship owning company with nine modern handy size product tankers and one modern handy size shuttle tanker on long term bareboat charter with Overseas Shipholding Group (OSG). OSG charters the vessels out on time charters to major oil companies in the U.S. coastwise Jones Act trade. AMSC has a significant contract backlog as well as a profit sharing agreement with OSG which offers visibility with respect to future earnings and potential dividend capacity.




2019 September 15

11:21 IMCA to introduce CPD scheme for diving supervisors
10:51 L3Harris Technologies delivers new advanced autonomous vehicle capability to UK’s Defence Science and Technology Laboratory

2019 September 14

15:29 Coast Guard reopens Houston Ship Channel after protest demonstration
13:39 Crondall Energy partners with Pharis Energy on innovative Pilot Field development
12:08 Prysmian's new cable-laying vessel Leonardo da Vinci scheduled for delivery in 2Q 2021
10:32 Woodside invests in emerging technology for seismic data acquisition

2019 September 13

18:06 Sture terminal situation normalised
17:47 Malaysia encourages gender diversity in the maritime industry
17:24 Multipurpose ship of Project MPSV12, Kalas, successfully completed sea trials
17:06 Frontline extends expiry date of first option for two Trafigura Suezmax tankers
16:30 ABP to welcome Royal Navy’s HMS Grimsby into Port of Grimsby
16:25 Wärtsilä Aquarius UV Ballast Water Management System chosen for retrofitting to four Korean vessels
16:05 Multi Modal Rail B.V. (MMR) launches rail service between Rotterdam and Ottmarsheim, France
15:48 ABP and WISTA UK host 'Women in Maritime' reception during LISW
15:09 Shearwater GeoServices awarded large South America survey
14:26 ABB enables emissions-free port stay in Marseille for Corsica Linea ferries
14:09 Start of the project “Dredging the Nieuwe Diep – Port of Den Helder”
13:45 First ever ABB electric propulsion to be installed on board a bulk carrier
13:20 Port of Oakland opens peak season with cargo volume growth
12:47 Throughput of port Kavkaz in 8M’2019 fell by 30% Y-o-Y to 22.35 million tonnes
12:09 MOL starts demonstration test of vessel image recognition system using AI technology on Nippon Maru
11:28 RS introduces new requirements into Part I of Rules for Classification and Construction of Sea-Going Ships
11:09 Rolls-Royce achieves 50th MT30 production milestone
10:42 In August, Klaipėda LNG Terminal regasified 1.4 times more gas than was consumed in the entire country
10:09 Port of Long Beach cargo volumes hit 663,992 TEUs in August 2019
10:04 Port Napier, NZ, places order for Damen ATD Tug 2412
09:51 Bunker market sees mixed price movements at the port of Saint-Petersburg, Russia (graph)
09:34 Brent Crude futures price is down 0.28% to $60.21, Light Sweet Crude – down 0.24% to $54.96
09:16 Baltic Dry Index is down to 2,331 points
09:10 Antwerp and Rotterdam Port Authorities ask new European Commission and Parliament to focus on the economic significance of ports
09:03 MABUX: Bunker market this morning, Sept 13

2019 September 12

18:12 Throughput of port Kaliningrad in Jan-Aug’2019 fell by 21% Y-o-Y to 7.60 million tonnes
17:51 Throughput of port Vyborg in Jan-Aug’2019 fell by 30% Y-o-Y to 810,300 tonnes
17:27 Throughput of port Vysotsk in Jan-Aug'2019 climbed by 6% Y-o-Y to 12.75 million tonnes
16:50 Throughput of port Primorsk in Jan-Aug’2019 grew by 16% Y-o-Y to 41.57 million tonnes
16:24 Vestdavit equips Norwegian Coast Guard’s next generation for Polar boat launch and recovery
16:03 Administration and personnel of Sea Port of Saint-Petersburg sign new Collective Agreement
15:45 SCF Group and NYK Line sign USD 176 million credit facility for eight years with three leading international banks
15:24 Towing and supplying vessel of Azerbaijan Caspian Shipping Company put back into operation
14:46 FESCO new vessel started working on a regular sea line connecting Magadan and Primorski Krai
14:24 Equinor gets consent for exploration drilling in the Barents Sea
14:02 GTT supports 3rd Conference “LNG Fleet and LNG Bunkering in Russia” as its sponsor
13:43 Volvo Penta’s latest D6 propulsion package set new standards for high-speed vessels
13:23 Eagle Bulk Shipping takes delivery of M/V Dublin Eagle
13:11 Bunker prices are flat at the Far East ports of Russia (graph)
12:50 UK Government backs cutting-edge tech to drive down shipping emissions
12:29 Super-efficient Wasaline ferry to get Wärtsilä Nacos Platinum navigation system
12:12 Port of Ust-Luga handled 69.96 million tonnes in 8M’19, up 7% Y-o-Y
11:47 LNG production and shipment facility in Kaliningrad Region to be launched before the end of 2019
11:24 Throughput of Russian seaports in 8M'2019 grew by 2.9% to 556.3 million tonnes of cargo (detalization)
10:55 Throughput of Port St. Petersburg in 8M'2019 climbed by 2% Y-o-Y to 40.17 million tonnes
10:09 GTT receives two new orders from Hyundai Heavy Industries
09:56 Dredging at the seaway canal of Kaliningrad estimated at 30 million cbm
09:38 Baltic Dry Index is down to 2,366 points
09:17 Brent Crude futures price is up 0.76% to $61.27, Light Sweet Crude – up 0.93% to $56.27
09:09 The Gothenburg Port Authority holds early dialogue to prepare for fairway project
08:51 MABUX: Bunker Market this morning, Sept 12
08:05 CMA CGM issues THC update for import to Vladivostok, Russia

2019 September 11

18:05 Kim Heng secures Horizontal Directional Drilling contract
17:39 PORT FLEET tugs to assist nuclear-powered container carrier Sevmorput to Big Port St. Petersburg