OSG to build Panamax product tankers

OSG to build Panamax product tankers Overseas Shipholding Group Inc. said it will build four 73,500 dwt coated Panamax product carriers at the SPP Plant and Shipbuilding Co. Ltd. based in Tong Yang, South Korea.
   The vessels are scheduled for delivery in 2010 and 2011.
   The New York-based shipping company said, “as product trades continue to shift and globalize, OSG is enhancing its fleet of larger size product carriers in order to better service its customer base.
   “Larger size product carriers are more economical for customers, are a more flexible vessel and augment the company’s diverse fleet of crude oil tankers, medium- and long-range product carriers and liquefied natural gas vessels,” it added.
   The new vessels bring OSG’s total fleet to 147 vessels, of which 107 are operating and an additional 40 vessels are slated for delivery through 2011.