OSG America reports $4.9 million 2nd quarter profit

OSG America reports $4.9 million 2nd quarter profit OSG America L.P. said it had second quarter profit of $4.9 million on revenue of $72.2 million.
   The company is a partnership created last year by Overseas Shipholding Group for its U.S.-flag operations, so comparable figures for 2007 were not available. Overseas Shipholding Group owns about a 75 percent stake in OSG America.
   The company said time charter equivalent revenues were $59.9 million due to strong spot market rates for two non-Jones Act product carriers it operates.
   During the second quarter, OSG America took delivery of two vessels, a newly built Jones Act product carrier, and an articulated tug barge rebuilt to double-hull configuration. It also chartered in two additional double-hull ATBs from Overseas Shipholding Group Inc. OSG America owns 16 vessels and charters in six.