Overseas Shipholding emerges from Chapter 11

(WILMINGTON, Del.) — Overseas Shipholding Group has emerged from bankruptcy after its Chapter 11 plan was approved by a federal judge in Delaware, Bloomberg News reported. The company, a provider of transportation services for crude oil and other petroleum products, sought court protection in 2012. OSG has more than 100 U.S.- and foreign-flagged vessels.

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By Professional Mariner Staff