About the Company
Overseas Shipholding Group is the operator of a fleet of twenty-four oil tankers and oil tug-barges. It is based in Tampa, Florida, United States, and was founded in 1948. In 1969, under the leadership of Raphael Recanati, OSG began acquiring tanker ships to transport oil from Alaska to the lower 48 U.S. states. In the 1990s, OSG began to acquire luxury cruise liners. In 1995, the cruise ships resulted in losses of over $12 million to OSG. As a result of the losses, Michael Recanati, the son of Raphael Recanati, was reported to have been forced to leave OSG. OSG has offices in Tampa, Florida and Newark, Delaware with nearly 900 sea and shore-based employees. The company filed for Chapter 11 bankruptcy in 2012 after the SEC accused CEO Morten Arntzen and CFO Miles Itkin of falsifying financial statements. In 2017, the company paid a $75,000 fine to the SEC to settle the securities fraud allegations. Former CFO Miles Itkin also paid a separate $75,000 fine. The executives were sued by OSG and agreed to pay a $16.25 million settlement in 2015.
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Latest $OSG News
OSG’s LCO2 transportation plans get a $3 million boost
OSG president and CEO Sam Norton: “Transporting liquified CO2 is a natural next step into an exciting emerging market, ...
Overseas Shipholding Group Inc President and CEO Samuel Norton Sells 50,000 Shares
Samuel Norton, President and CEO of Overseas Shipholding Group Inc (NYSE:OSG), has sold 50,000 shares of the company on April ...
Overseas Shipholding Group Awarded Federal Grant to Design Marine Transport For Liquified CO2 Captured by Florida’s Largest Emitters
Overseas Shipholding Group Awarded Federal Grant to Design Marine Transport For Liquified CO2 Captured by Florida’s Largest Emitters ...
Wall Street shipping investors fall silent on emissions issues in market awash with cash
Green Seas newsletter explores as ‘nihilistic Wall Street philosophers’ claim the green governance push has lost momentum but ...
Overseas Shipholding Gets Federal Grant to Design Marine Transport For Liquified CO2
By Stephen Nakrosis Overseas Shipholding Group said it was the recipient of a $3 million grant from the U.S. Energy Department to engineer and design a ...
Overseas Shipholding Group Awards $30,500 in Scholarships with Women Offshore
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 ...
Breaking Down Oceaneering International: 4 Analysts Share Their Views
Insights from analysts' 12-month price targets are revealed, presenting an average target of $28.5, a high estimate of $34.00 ...
‘Enormous vulnerabilities’: Why US-flagged shipping isn’t ready for war
The Boer War in southern Africa from 1899 to 1902, by contrast, showed the commercial risks of inadequate US-flagged shipping ...
Six companies start a joint study for the establishment of an ammonia supply chain based in the Tomakomai area of Hokkaido
The Tomakomai area has vast land available for the installation of facilities required for the establishment of an ammonia supply chain ...
DP World and Asian Terminals launch new Tanza Barge Terminal in Cavite
DP World and Asian Terminals Inc. (ATI) announced the opening of Tanza Barge Terminal in Cavite to facilitate smoother and faster transport for goods and raw materials to and from the capital via sea ...
In March 2024, 48 Tankers exported Kazakh Oil from the Russian Black Sea Port of Novorossiysk (Database)
In March 2024, a total of 48 tankers exported CPC oil from the Russian port of Novorossiysk, excluding the exports to ...
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