BP to Charter Two OSG-Controlled Product Carriers

Tuesday, February 07, 2006
Overseas Shipholding Group, Inc. (NYSE:OSG) announced that charter agreements with BP have been signed for two of the Jones Act product carrier newbuildings that OSG will bareboat upon delivery from Aker Philadelphia Shipyard, formerly Kvaerner Philadelphia Shipyard.

Morten Arntzen, President and CEO of OSG said, "The strong commercial interest in these U.S.-built product carriers further validates our U.S. Flag expansion strategy, uniquely positioning us in the Jones Act market. With two other tankers in the series already chartered out to another major oil company, OSG has now signed 40 percent of the 10-ship order scheduled for completion in 2010."

Work on the Veteran MT-46 Class tanker vessels began immediately after Aker and OSG announced the 10-ship program in April 2005. Keel laying for the first product tanker, scheduled for delivery to OSG in late 2006, took place in the yard's dry dock in October. Production of the second vessel in the series has commenced as well, marked by the beginning of steel cutting for the ship in late November.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Wärtsilä Electrical Systems for SIEM RoRo Ferries

Wärtsilä has been awarded the contract to provide integrated turnkey electrical solutions for four new RoRo ferries being built at the Flensburger Schiffbau-Gesellschaft (FSG) yard in Germany.

Mermaid Maritime Bags Subsea Contracts, Delays Newbuilding

Thailand’s Mermaid Maritime said it has been awarded a number of subsea contracts in the Middle East with a total worth of $11million.   It has also reached

Diana Charters Out Two Bulkers

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels,

Offshore

Mermaid Maritime Bags Subsea Contracts, Delays Newbuilding

Thailand’s Mermaid Maritime said it has been awarded a number of subsea contracts in the Middle East with a total worth of $11million.   It has also reached

Hercules Offshore Filing for Bankruptcy Again

Hercules Offshore Inc said it planned to file for prepackaged Chapter 11 bankruptcy, just six months after the rig contractor emerged from bankruptcy protection.

DONG Energy Listing to Value Group at up to $16 Bln

DONG Energy's has set a potential $16 billion price tag on its stock market debut, giving investors a chance to buy into the growth in offshore wind power, but

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Salvage Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0761 sec (13 req/sec)