OCTOBER 24, 2012 — Multiple law firms specializing in securities class actions have announced that they are investigating potential claims against tanker giant OSG (NYSE: OSG) concerning possible violations of federal securities
OCTOBER 22, 2012 — Wärtsilä has developed a design for a new, highly efficient Aframax tanker that offers solutions for meeting current and forthcoming emissions legislation. Developed by Wärtsilä Ship Design, the
OCTOBER 22, 2012 — In an SEC filing today, tanker giant OSG says it is “evaluating its strategic options, including the potential voluntary filing of a petition for relief to reorganize under
AUGUST 21, 2012—Hoping to avoid a reenactment of last year’s fiasco by the Administration, U.S. Congressman Elijah E. Cummings (D-MD), Senior Member of the Committee on Transportation and Infrastructure, sent a letter
AUGUST 3, 2012 — In another indicator of tough times in the tanker sector, Moody’s Investors Service yesterday lowered its ratings of Overseas Shipholding Group, Inc, (“OSG”); Corporate Family and Probability of
AUGUST 1, 2012 — Tanker giant OSG reported a second quarter loss of $46.0 million, or $1.52 per diluted share. Once again, U.S.-flag operations were one bright spot in the picture. Morten
Tanker owners’ association INTERTANKO reports that its Council has approved the appointment of current Deputy Managing Director, Katharina Stanzel, as Managing Director of INTERTANKO effective July 1, 2012. Joe Angelo will then
Angeliki Frangou led tanker operator Navios Maritime Acquisition Corporation (NYSE: NNA) reported a net loss for the three month period ended March 31, 2012 of $0.8 million compared to a loss of
Tanker operator General Maritime Corporation (GMRRQ.OB) says that the U.S. Bankruptcy Court for the Southern District of New York has confirmed the second amended joint plan of reorganization of the company and
Tanker giant Overseas Shipholding Group, Inc. (NYSE: OSG) reports results for the first quarter of fiscal 2012 ended March 31, 2012.that saw TCE (time charter equivalent) revenues of $214.0 million, an increase