Overseas Shipholding Group, Inc. Class A Common Stock (OSG)

Saltchuk Resources, Inc. (“Saltchuk”) today announced that it has successfully completed its previously announced tender offer to acquire all of the outstanding shares of common stock of Overseas Shipholding Group, Inc. (NYSEOSG) not already owned by Saltchuk for a purchase price of $8.50 per share in cash, an enterprise value of approximately $950 million. The transaction closed this morning, and OSG is now a wholly owned subsidiary of Saltchuk.

NEW YORK, July 03, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:

NEW YORK, June 29, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:

Saltchuk Resources, Inc. (“Saltchuk”) and Overseas Shipholding Group, Inc. (NYSEOSG) (“OSG”) today announced the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to the previously announced cash tender offer by a wholly-owned subsidiary of Saltchuk for all issued and outstanding shares of Class A common stock of OSG at a price of $8.50 per share (the “Offer”). The expiration of the waiting period occurred at 11:59 p.m. on June 25, 2024.

NEW YORK, June 24, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Overseas Shipholding Group, Inc. (NYSEOSG) to Saltchuk Resources, Inc. for $8.50 per share in cash is fair to Overseas shareholders.

NEW YORK, June 21, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”) today announced that it has published its annual Sustainability Report. The report includes information relating to the Company’s efforts on environmental, social, and corporate governance practices during 2023, as well as its long-term plans to evolve in these areas. The Sustainability Report can be found on the Company’s website at www.osg.com/safety-environment.

NEW YORK, May 29, 2024 (GLOBE NEWSWIRE) -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:

Overseas Shipholding Group, Inc. (NYSEOSG) (“OSG”) announced today that it has determined to cancel its 2024 Annual Meeting of Stockholders scheduled for June 6, 2024 in consideration of its contemplated merger transaction with Saltchuk Resources, Inc. For more information regarding such transaction, please see OSG’s press release issued on May 20, 2024 entitled “Overseas Shipholding Group Enters Into a Definitive Agreement to Be Acquired by Saltchuk Resources, Inc. - Purchase Price of $8.50 per Share in Cash - Transaction Valued at $950 Million.”

LOS ANGELES, May 20, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Overseas Shipholding Group, Inc. (“OSG” or “the Company”) (NYSEOSG) for potential breaches of fiduciary duty on the part of its directors and management.

Halper Sadeh LLC, an investor rights law firm, is investigating whether the sale of Overseas Shipholding Group, Inc. (NYSEOSG) to Saltchuk Resources, Inc. for $8.50 per share in cash is fair to Overseas shareholders.

Overseas Shipholding Group, Inc. (“OSG” or the “Company”) (NYSEOSG), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products primarily in the U.S. Flag markets, and Saltchuk Resources, Inc. (“Saltchuk”), a privately owned family of diversified freight transportation, marine service, and energy distribution companies, today announced that they have entered into a definitive merger agreement pursuant to which Saltchuk has agreed to acquire OSG in a transaction that values the Company at an aggregate equity value of approximately $653 million and a total transaction value of $950 million.

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products in the U.S. Flag markets, today reported results for the first quarter of 2024.

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”) announced today that it plans to release its first quarter results of fiscal year 2024 before the market opens on Friday, May 10, 2024.

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”), a leading provider of energy transportation services, announced today that the Company has been awarded a $3,000,000 grant from the United States Department of Energy for the engineering and design of a new vessel that will transport liquified carbon dioxide (LCO2). The award will be used to develop the design of an articulated tug and barge unit (ATB) to be used to transport CO2 captured by emitters in the Greater Tampa Bay region and across the State of Florida to sequestration sites in the Gulf of Mexico.

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”) is proud to continue its efforts to remove barriers for women entering the maritime industry. Through the Women Offshore Foundation, OSG gave $30,500 in scholarships to four women - two attending SUNY Maritime Academy, one at Great Lakes Maritime Academy and one at Maine Maritime Academy. The scholarships will empower these women cadets to achieve their deck and engine credentials during their 2024 summer sea term as they pursue careers within the maritime industry.

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”) announced today that its Board of Directors has declared 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 at the close of business on March 28, 2024.

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products in the U.S. Flag markets, today reported results for the fourth quarter and full year 2023.

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”) announced today that it plans to release its fourth quarter results of fiscal year 2023 before the market opens on Monday, March 11, 2024.

Overseas Shipholding Group, Inc. (the “Company” or “OSG”) (NYSEOSG), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products primarily in the U.S. Flag markets, today confirmed that OSG’s Board of Directors received an unsolicited non-binding indication of interest from Saltchuk Resources, Inc. (“Saltchuk”) for the acquisition of all of the outstanding shares of the Company that Saltchuk does not already own for $6.25 per share in cash.

Overseas Shipholding Group, Inc. (the “Company” or “OSG”) continues to promote women to receive training to enter the maritime industry with a three-year pledge in the amount of $90,000 to the Massachusetts Maritime Academy. OSG’s pledge will go to undergraduate and sea term scholarships and sponsorship of the Academy’s Women’s Network and Sea, Science and Leadership Career Exploration Program. Scholarship recipients will have ongoing interaction with OSG and the opportunity to become familiar with OSG’s business and fleet of vessels. The OSG Scholarship Program is intended to ease the financial burdens as well as encourage young women seeking opportunities to enter an industry that offers a non-traditional workplace and opportunity for growth.

Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation services, announced today that the Company has been awarded a $400,000 grant from the United States Department of Energy (“DOE”) to study the development of its proposed Tampa Regional Intermodal Carbon Hub (“T-RICH”). The study is intended to evaluate the commercial feasibility of developing an intermediate storage hub at Port Tampa Bay for CO2 captured from industrial emitters across the State of Florida. T-RICH would receive, store, and process two million metric tons of CO2 per year, which would be transported by OSG vessels across the Gulf of Mexico for permanent underground storage. This storage and transport hub will be the first of its kind in the nation and could be scaled to meet expanded volumes of captured CO2.

Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation services, is set to mark a pioneering moment in the Jones Act and US Flag industries by equipping all vessels in its fleet with Space X’s Starlink satellite internet service. Since the introduction to the market of Starlink’s Global Maritime service earlier this year, OSG’s IT department has worked to substantially complete installation of Starlink equipment on every vessel in the fleet of OSG and ATC, with full installation expected by year end. OSG marks this advancement as part of the Company’s commitment to a new era of seamless connectivity for seafarers on board all OSG vessels.

Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation, announced a comprehensive lifecycle engine upgrade (LCU) program for all four vessels in its Alaskan Class fleet to be achieved through a contract with MAN Energy Solutions SE. The vessels Alaskan Explorer, Alaskan Frontier, Alaskan Legend, and Alaskan Navigator, all approaching 20 years in age, will receive significant engine and operational improvements, resulting in environmental benefits as well as extending their commercially useful life.

Overseas Shipholding Group, Inc. (NYSEOSG) (the “Company” or “OSG”) announced today that its Board of Directors has declared a cash dividend of $0.06 per share on its Class A Common Stock. The dividend – the first dividend declared by OSG since the spinoff of its international division in 2016 – will be paid on January 4, 2024 to stockholders of record at the close of business on December 21, 2023.