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OSG completes Maritrans acquisition

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.