OSG expands crude oil tanker fleet
Sep 25, 2007 2:18 PM
Overseas Shipholding Group Inc (OSG), has expanded its crude oil tanker fleet with the addition of four Suezmax vessels, according to company information.
The vessels complement OSG’s crude oil tanker fleet that range in size between 120,000 and 200,000 deadweight tons (dwt). The company has purchased, sold and bareboat chartered-back two Suezmax tankers from Double Hull Tankers Inc. It expects to take delivery of a 2001-built 164,000 dwt vessel in December 2007 and the second ship, a 2000-built 153,000 dwt vessel, is expected to deliver to OSG in the first quarter of 2008. The vessels have been chartered for seven and 10 years, respectively. OSG also has time chartered-in two 156,000 dwt sister ships for three years. The vessels, currently under construction in China, are expected to deliver in the fourth quarter of 2008.
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