The OSG 204, coupled with the pull OSG Endurance, underway on the Willamette River following her shipment on May 29
Overseas Shipholding Group Inc (NYSE: OSG) records that it has actually gotten shipment of the OSG 204, a 204,000 barrel ability ATB container barge from Greenbrier Marine a department of theGreenbrier Companies Inc (NYSE: GBX).
Delivery came 10 days after a digital christening at the Greenbrier Gunderson shipyard in Portland,Oregon The 581 foot long barge is amongst the biggest ever before constructed at the center.
The OSG 204 has actually been coupled with an existing pull within the OSG fleet, the OSG Endurance, as well as will certainly take a trip to the Gulf of Mexico, where it will certainly add to OSG’s expanding visibility in the Jones Act profession. The ATB device has actually been repaired to a lasting charter dedication, with shipment to the charterer happening late in the 2nd quarter of 2020. Greenbrier Marine is additionally building a 2nd sibling barge which has actually a set up shipment day throughout the fourth quarter of 2020.
“Completing a complex engineering and construction project on time and on budget is a challenge under any circumstances,” claimed Sam Norton, OSG’s President as well as Chief Executive Officer. “Having done so under the constraints imposed by COVID-19 makes that achievement all the more laudable. OSG is gratified to have partnered with Greenbrier Marine in the building of OSG 204, a barge that will serve for many years to come as a visible statement of OSG’s continued commitment to supporting the U.S. maritime industry. Together with her paired tug OSG Endurance, this ATB will perform one spot voyage to reposition the unit to the Gulf of Mexico, after which she will give delivery into a previously contracted one year time charter with a long standing OSG customer. The additional earnings and cash flow that will be contributed by this new asset will allow OSG to build on momentum demonstrated in our recent financial performance. Celebrating an achievement such as this is particularly meaningful in these unusual times and we are pleased to be able to mark this day as a momentous one.”
“I am very pleased to add the OSG 204 into OSG’s fleet. I want to thank our site team and Greenbrier’s team for the high quality work on completing the OSG 204,” claimed Patrick O’Halloran, Chief Operations Officer for OSG. “I look forward to continuing the excellent cooperative relationship with Greenbrier into the future.”
“OSG is a great customer and a dedicated business partner, and we appreciate the opportunity to work together on the construction of this vessel. The launching of OSG 204 was completed in December and the christening was celebrated on May 19 at the first virtual barge christening in the history of Greenbrier Marine, an adaptation necessitated by COVID-19,” claimed Richard Hunt, General Manager ofGreenbrier Gunderson “We are thankful for the collaborative work with OSG and all major equipment vendors and suppliers and are pleased to deliver this Jones Act-compliant barge as the start of a long-term relationship with OSG.”
