Overseas Shipholding Group announces delivery of two vessels, Overseas Gulf Coast and Overseas Sun Coast
Overseas Shipholding Group, Inc., a provider of energy transportation services for crude oil and petroleum products, announced that it has taken delivery of two 50,000 DWT class product and chemical tankers at Hyundai Mipo Dockyard Co., Ltd. The tankers, named the Overseas Gulf Coast and Overseas Sun Coast, were built to comply with MARPOL Annex VI Regulation 13 Tier III standards regarding nitrogen oxide emissions within emission control areas. In addition, each vessel is fitted with an exhaust gas cleaning system, often referred to as a “scrubber”, to meet the standards of MARPOL Annex VI Regulation 14 standards regarding sulphur oxide emissions. Present for the christening at the shipyard in Ulsan, Korea were Patrick O’Halloran, OSG’s Chief Operations Officer, and Damon Mote, OSG’s Chief Administration Officer.
The Overseas Gulf Coast and Overseas Sun Coast will be operating in the international market under the Marshall Islands flag, with both vessels having entered into one-year time charters. Following this initial contract period, OSG anticipates that the vessels will transition to operate under the U.S. flag.
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 fleet consists of two conventional ATBs, two lightering ATBs, three shuttle tankers, 10 conventional MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program, all of which are U.S. flagged, as well as two Marshall Island flagged non-Jones Act MR tankers trading in international markets. In addition, OSG has two barges under construction in the U.S. that will be Jones Act qualified vessels, with delivery anticipated during 2020. These vessels are anticipated to be paired with the Company’s existing tugs operating in the Jones Act trade.