Double Hull Tankers, Inc., a wholly owned subsidiary of Overseas Shipholding Group, Inc. announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering
of its common stock
Double Hull Tankers, Inc. is a newly formed Marshall Islands corporation
which intends to acquire a fleet of seven oil tankers, consisting of three VLCCs and four Aframaxes, from subsidiaries of OSG and to time charter them
back to other subsidiaries of OSG.
UBS Investment Bank and Merrill Lynch
& Co. are serving as joint book-running managers of the offering.