Overseas Shipholding Group Purchases Vessel from BP
Overseas Shipholding Group, Inc. (“OSG”) announced today an agreement with BP Oil Shipping Company, USA, to purchase the tank vessel Alaskan Frontier, a sister vessel to three other Alaskan Class tankers operated by OSG’s wholly owned subsidiary, Alaskan Tanker Company.
- Overseas Shipholding Group, Inc. (“OSG”) announced today an agreement with BP Oil Shipping Company, USA, to purchase the tank vessel Alaskan Frontier, a sister vessel to three other Alaskan Class tankers operated by OSG’s wholly owned subsidiary, Alaskan Tanker Company.
- OSG plans to make significant investments in the vessel for it to begin commercial trade by the fourth quarter of 2024.
- The engine upgrades for the Alaskan Frontier are considered a lifecycle upgrade, which will be completed by MAN Energy Solutions SE.
- The significant capital investment being made will permit the Company to operate the vessel for a longer period of time and with fewer maintenance costs for its remaining life.