OSG completes Maritrans acquisition
Overseas Shipholding Group Inc. has competed its acquisition of Maritrans Inc., an operator of U.S.-flag crude oil and petroleum product ships and barges. OSG paid $450 million in cash and assumed $21 million in debt.
Maritrans will be renamed OSG America Inc. in connection with the transaction.
The combined companies will control 35 existing or on order U.S.-flag ships and tug-barge units.