AmericasTankers

OSG board approves domestic and international company split

The board of New York-based and NYSE-listed tanker owner Overseas Shipholding Group (OSG) on Friday approved a plan to split the firm into two independent companies.

Its domestic business will retain the name Overseas Shipholding Group, while its international side will become International Seaways.

OSG’s US flag fleet comprises mostly handysize product carriers and articulated tug barges (ATBs), which primarily focus on Jones Act business.

International Seaways has one of the world’s biggest fleets of crude oil and product tankers.

Both firms will be publicly traded, with OSG keeping the symbol OSG on the NYSE and International Seaways reserving the symbol INSW.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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