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17 January 2020 The on-line newspaper devoted to the world of transports 20:28 GMT+1



December 27, 2019

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Original news
Overseas Shipholding Group will acquire the entire property of Alaska Tanker Company

The transaction includes four oil tankers of American flag

The American Overseas Shipholding Group (OSG) has signed an agreement with BP Oil Shipping Co. and with BP HE LOVES Inc Leasing., both societies that are under responsibility of the oil company BP, in order to acquire the four oil tankers of American flag of 185-193mila gross capacities in tons operated by Alaska Tanker Company (ATC), company of navigation of which currently OSG he stops 37.5% of the share capital, and in order to acquire successively being remained 62.5% of the capital of the ATC obtaining some the entire property.

To conclusion of the transactions, OSG will rent to bare boat the possessed ships of own fleet through branches to the ATC and in its turn this last one will rent every ship to BP Exploration (Alaska) Inc. (BP Alaska). BP Alaska takes part of the activities and asset of the oil company BP in the State of Alaska that last August BP has decided to sell to the Hilcorp Alaska total di Anchorage for 5,6 billion dollars.

"The agreements reached with BP this week - it has explained the president and managing director of OSG, Sam Norton - represent a engagement clearly to maintain to the ATC which main partner of marine transport of BP Alaska". "The contracts concluded with BP Alaska - it has specified Norton - offer to engagements for a total a period of initial chartering 14-year-old, assuring greater evidence and stability to the flow of returns of the OSG. Every contract offers to the charter the options in order to extend the period of chartering beyond the contractual period base, being supplied a within of partnership for many years coming".

Autorità di Sistema Portuale Adriatico Meridionale
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