Overseas Shipholding Announces Continuation of Exploring Strategic Alternatives

Source: www.gulfoilandgas.com 9/9/2021, Location: North America

Overseas Shipholding Group, Inc., a public company focused on providing energy transportation services for crude oil and petroleum products primarily in the U.S. Jones Act market, announced that the strategic process to explore, review and evaluate a range of strategic alternatives available to the Company to enhance shareholder value that OSG’s Board of Directors had previously commenced, is continuing.

As noted in its previous announcement, the Company’s Board of Directors has not set a timetable for the strategic process, nor has it made any decisions related to strategic alternatives. There can be no assurance that the exploration of strategic alternatives will result in a sale of the Company, or in any other strategic change or outcome. The Company’s current intention is not to disclose developments with respect to the strategic process unless and until the Board has approved a specific course of action, on the recommendation of the special transaction committee, or otherwise determines that disclosure is necessary or appropriate.


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