Now that spot rates have risen, Overseas Shipholding Group (OSG) has shifted toward fixing its ships on time charters.
The Florida-based, New York-listed Jones Act tanker player spent the last three months adding 12 years’ worth of period coverage, with 92% of available days fixed for the rest of the year and nearly 80% for 2023.
Chief executive Sam Norton said OSG had extended contracts for its lightering customers and the Israeli government along with eight time charters across its tankers and ATBs
“With conventional tankers fixing in the mid-60s and our ATB fixtures concluded in the mid-40s, this book of new business should...
