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Overseas Shipholding Group, Inc. (NYSE: OSG) will announce its first quarter 2024 results on May 10, 2024. The Company will host a conference call and webcast to discuss the results. Participants can dial in or watch the live webcast on the Investors section of the company's website.
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Overseas Shipholding Group (OSG) has been awarded a $3,000,000 grant from the US Department of Energy to design a new vessel for transporting liquified carbon dioxide (LCO2) captured by emitters in Florida. The vessel grant is part of OSG's efforts to develop a complete CO2 storage and transport solution for industrial emitters in the region. OSG previously received a grant for the Tampa Regional Intermodal Carbon Hub (T-RICH) to study an intermediate storage hub at Port Tampa Bay for captured CO2. The new ATB vessel will transport captured CO2 from the T-RICH hub to sequestration sites in the Gulf of Mexico. OSG aims to support the US goal of achieving net zero carbon emissions by 2050 through carbon capture and storage systems.
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Overseas Shipholding Group, Inc. (OSG) provides $30,500 in scholarships to four women pursuing maritime careers, aiming to remove barriers for women in the industry. The scholarships empower women cadets at various maritime academies, enabling them to achieve deck and engine credentials. OSG's President and CEO, Sam Norton, emphasizes the importance of supporting women in the maritime sector to attract diverse talent. The collaboration with Women Offshore Foundation aims to foster opportunities for women to succeed as licensed mariners. OSG's commitment includes providing over $90,000 in scholarships over three years.
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Overseas Shipholding Group, Inc. (NYSE: OSG) declares 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 on March 28, 2024. The Company's President and CEO, Sam Norton, emphasizes the strong financial condition and commitment to shareholder value.
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Overseas Shipholding Group, Inc. (OSG) reported strong financial performance in 2023, with net income of $62.5 million, an increase of 135% from 2022. Adjusted EBITDA for 2023 was $175.7 million, up by 23.1% from 2022. Despite a decrease in shipping revenues, the company saw positive results due to charterparties fixed at escalating rates. OSG repurchased shares, declared dividends, and made strategic investments in vessels. The company remains optimistic about its future prospects in a balanced market.
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Overseas Shipholding Group, Inc. (NYSE: OSG) announced the release of its fourth-quarter results for fiscal year 2023, with a conference call scheduled for March 11, 2024, at 9:30 a.m. ET. Participants can dial in or watch the webcast on the Company's website.
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Overseas Shipholding Group, Inc. (OSG) has received an unsolicited non-binding indication of interest from Saltchuk Resources, Inc. for the acquisition of all outstanding shares not already owned for $6.25 per share in cash. OSG's Board of Directors is evaluating the offer, emphasizing that stockholders do not need to take any action at this time. The company has not made any decisions regarding the response to the indication of interest, and there is no assurance that a definitive proposal will be made or accepted.
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Overseas Shipholding Group, Inc. (OSG) pledges $90,000 to Massachusetts Maritime Academy to promote women's entry into the maritime industry. The pledge will fund undergraduate and sea term scholarships, sponsor the Women's Network, and support the Sea, Science, and Leadership Career Exploration Program.
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Overseas Shipholding Group, Inc. (OSG) has been awarded a $400,000 grant from the United States Department of Energy to study the development of its proposed Tampa Regional Intermodal Carbon Hub (T-RICH). The hub aims to evaluate the commercial feasibility of creating an intermediate storage hub at Port Tampa Bay for CO2 captured from industrial emitters across Florida. OSG plans to transport the stored CO2 by vessels across the Gulf of Mexico for permanent underground storage. This initiative aligns with the United States' goal to achieve net zero carbon by 2050 and is expected to provide up to 30% of the total carbon emission reduction. The project also aims to create hundreds of new jobs in Florida and improve air quality for residents.
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Overseas Shipholding Group, Inc. (OSG) is set to equip all vessels in its fleet with Space X’s Starlink satellite internet service, marking a pioneering moment in the Jones Act and US Flag industries. The company's IT department has worked to substantially complete installation of Starlink equipment on every vessel in the fleet, with full installation expected by year end. This advancement reflects OSG's commitment to seamless connectivity for seafarers, allowing high-speed internet access even in remote maritime locations. Patrick O’Halloran, OSG’s Chief Operations Officer, expressed enthusiasm for the transformational development, highlighting the company's investment in technology as a major step forward in the maritime industry.
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Overseas Shipholding Group Inc.
NYSE:OSG
OSG Rankings
OSG Stock Data
441.20M
46.11M
31%
54.92%
0.72%
Deep Sea Freight Transportation
Transportation and Warehousing
United States of America
TAMPA
About OSG
overseas shipholding group, inc. is a leading provider of energy transportation services delivering crude oil and petroleum products throughout the united states and the world. founded in 1948, osg has operated through multiple shipping cycles, adjusting our business as needed to compete and succeed. our well-maintained fleet, and commitment to high quality, incident-free service, has positioned us as a preferred energy transportation provider to major oil companies, refiners and traders.