Nov. 9, 2015, 7:20 AM
- Overseas Shipholding (NYSEMKT:OSGB): Q3 EPS of $0.33 may not be comparable to consensus of $0.20.
- Revenue of $233.6M (+32.6% Y/Y) beats by $4.6M.
Aug. 10, 2015, 7:12 AM
- Overseas Shipholding (NYSEMKT:OSGB): Q2 EPS of $0.11
- Revenue of $245.49M (+1.5% Y/Y)
May 7, 2015, 8:22 AM
- Overseas Shipholding (NYSEMKT:OSGB): Q1 EPS of $0.08
- Revenue of $221.6M (+3.3% Y/Y)
Mar. 16, 2015, 5:20 PM
- Overseas Shipholding (NYSEMKT:OSGB): Q4 EPS of $0.04
- Revenue of $198.92M (+2.6% Y/Y)
Dec. 29, 2014, 5:42 PM
Dec. 26, 2014, 1:03 PM
Oct. 9, 2013, 5:57 PM
- Overseas Shipholding (OSGIQ.PK) plans to sue its former legal counsel for bad advice that forced it to restate more than decade's worth of financial results.
- Bankruptcy followed revelations a year ago that the company's financial reports from 2009 through the present were not trustworthy; this August, the shipper said it may owe $460M or more to the IRS.
- A class-action lawsuit says OSGIQ triggered U.S. tax liabilities by pledging its international shipping unit subsidiaries to secure or guarantee loans to the parent company.
Sep. 23, 2013, 2:40 PM
- Shares of Overseas Shipholding (OSGIQ.PK -36.6%) collapse after the company released a presentation detailing its 5-year outlook assist facilitation of its Chapter 11 proceedings.
- The encumbered company sees positive pre-tax vessel cash flows for its U.S. operations through 2015, but negative flows of $73M and $113M in 2016 and 2017 on the back of $460M in new construction costs. It expects U.S. operations to float to break-even in 2018.
- The company sees better results in its international division, with pre-tax vessel cash flows rising from $25M in 2013 to $185M in 2018 with no new constructions planned.
May 13, 2013, 12:16 PM
Oil tanker trade is growing at its fastest pace in 10 years as the U.S. production boom is forcing exporters, who used to ship oil to U.S. markets, to find new customers on different trade routes, FT reports. A 10% jump in the number of oil-ton miles comes even as the volume of oil traded has flatlined, good news for tanker companies such as Frontline (FRO +8.6%) and Overseas Shipholding (OSGIQ.PK +3.3%).| May 13, 2013, 12:16 PM | 1 Comment
Nov. 14, 2012, 8:22 AM
Overseas Shipholding (OSG) files for Chapter 11 bankruptcy protection. The world's no. 2 independent tanker operator has been struggling to plug a $300M shortfall in its $1.5B fully drawn revolving credit facility, and warned last month that it may have to seek bankruptcy protection. OSG -61% premarket; FRO +10.2%.| Nov. 14, 2012, 8:22 AM
Nov. 13, 2012, 5:53 PMOverseas Shipholding (OSG) files to delay its 10-Q. The time frame for completing the review is not currently known. However, it is anticipated to be beyond the permitted extension date of November 14. | Nov. 13, 2012, 5:53 PM | 1 Comment
Nov. 9, 2012, 12:45 PM
Oct. 26, 2012, 4:05 PM
Tank-barge operator Kirby Corp. (KEX +5.5%) will replace bulk shipper Overseas Shipholding Group (OSG -5.4%) in the Dow Jones Transportation Average after the close of trading on Monday. The index change is being done because OSG announced earlier this week it is evaluating strategic options, including a potential Chapter 11 and certain previously issued financial statements shouldn't be relied on.| Oct. 26, 2012, 4:05 PM
Oct. 26, 2012, 9:28 AM
Oct. 23, 2012, 3:58 PM
Overseas Shipholding (OSG +21.1%) shares bounce back somewhat after yesterday's precipitous fall, but they're chopped in half since Friday's close. OSG warned it's evaluating strategic options, including potential bankruptcy protection, and said several previous financial statements shouldn't be relied on.| Oct. 23, 2012, 3:58 PM
Oct. 23, 2012, 12:45 PM