Overseas Shipholding Group, Inc (OSG) Stock Skyrockets as Meme Stock Phenomenon Continues stockstelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stockstelegraph.com Daily Mail and Mail on Sunday newspapers.
Overseas Shipholding Group, Inc., a leading provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, reported results for the first quarter 2021.
Net loss for the first quarter 2021 was $15.9 million, or $(0.18) per diluted share, compared with net income of $25.1 million, or $0.28 per diluted share, for the first quarter 2020. The first quarter of 2020 included a $19.2 million gain related to the acquisition of the Alaska Tanker Company.
In April, we entered into a contract to sell the Overseas Gulf Coast for $32.5 million. Based on the negotiated sale terms, the transaction will result in a $5.4 million loss, which we recorded in the first quarter of 2021. The sale of this unencumbered asset will provide additional liquidity.
Overseas Shipholding Group Expects Improved Demand as Vaccinations Progress
Overseas Shipholding Group, Inc., a leading provider of energy transportation services for crude oil and petroleum products in the U.S. Flag markets, today reported results for the first quarter 2021.
Net loss for the first quarter 2021 was $15.9 million, or $(0.18) per diluted share, compared with net income of $25.1 million, or $0.28 per diluted share, for the first quarter 2020. The first quarter of 2020 included a $19.2 million gain related to the acquisition of the Alaska Tanker Company.
In April, we entered into a contract to sell the Overseas Gulf Coast for $32.5 million. Based on the negotiated sale terms, the transaction will result in a $5.4 million loss, which we recorded in the first quarter of 2021. The sale of this unencumbered asset will provide additional liquidity.
37
A superior and comprehensive market research report endows professionals with a lot of aspects about the market and the industry. Top players in the market, major collaborations, merger and acquisitions along with trending innovation and business policies are also re-evaluated in this market research report. This
Chemical Tanker Shipping Market report provides top to bottom examination of the market as far as income and developing business sector is concerned. In this report, market data is broken down in a systematic process to highlight focus areas of client’s interest. Markets at local, regional and global level are considered in this Chemical Tanker Shipping Market report.