Hints and tips:
...Sullivan said in its retention application that its top partners could charge as much as $2,000 per hour....
...Eventually he started his own consulting firm specialising in messy blow-ups, landing at such high-profile companies as Nortel Networks, Overseas Shipholding Group and Residential Capital....
...Ray is a seasoned restructuring executive, having served in oversight positions in the bankruptcies of Residential Capital, Overseas Shipholding Group, Nortel Networks and Enron....
...The US fleet of Jones Act tankers and tugboat-barge units totals 94 vessels, according to Overseas Shipholding Group, one of the biggest operators in the sector....
...Bonds in Overseas Shipholding Group, which was forced by debt and plunging international tanker rates to file for bankruptcy protection in November 2012, registered the biggest gains of any high-yield issuer...
...Mr Ross is one of the world’s best-known investors in distressed debt and has been investing in recent years in European retail banking as well as shipping....
...Under the US’s highly restrictive 1920 Merchant Shipping Act – known as the Jones Act – vessels operating between two US ports need to be owned by a US-controlled company, crewed by US citizens and built...
...The money raised on Friday will be used for those existing orders – including for four very large gas carriers and four Capesize carriers for dry-bulk commodities such as iron ore – as well as “leav[ing]...
...At the time, OSG revealed concerns about an unspecified “tax issue” and warned that its financial statements as far back as 2009 “should no longer be relied on”....
...The crisis in the oil tanker market claimed its biggest victim on Wednesday when the US-based Overseas Shipholding Group filed for bankruptcy....
...OSG’s 8-K filing revealed that a review of an unspecified “tax issue” had led management to conclude that its financial statements as far back as the full year to the end of March 2009 “should no longer...
...Overseas Shipholding Group, the largest US oil tanker operator, is considering selling ships, issuing new shares or taking on more debt to improve liquidity, it has announced....
...New York-listed Overseas Shipholding Group filed a “shelf registration” with the Securities and Exchange Commission that would let it issue up to $500m in new securities – either debt or equity – in future...
...As well as internationally operated crude oil and oil product tankers, OSG operates vessels meeting the strict criteria to carry cargos between US ports....
...Nordic, which will change its name to Nordic Shipholding, will continue as the owner of six oil product tankers....
...Chief executives from Frontline, Overseas Shipholding Group, and Teekay Tankers all pointed to the risk of collapse moving to larger operators after several smaller peers, such as Omega Navigation and Marco...
...Overseas Shipholding Group, heading the list, is one of many big tanker operators struggling in the face of charter rates that are mostly too low to cover companies’ costs....
...Morten Arntzen, chief executive of Overseas Shipholding Group, said the most vulnerable companies were those that had entered the downturn with significant ship orders under way and poor corporate governance...
...He sees day rates as a sort of tail wagging the dog. Thus, as a sector indicator, it could be misleading....
...“There is increased demand for storage options on ships in and around the Gulf,” says Morten Arntzen, chief executive of Overseas Shipholding Group, a US tanker company....
...With Overseas Shipholding Group, which rose 6 per cent to $34.40 on Friday, nearly 20 per cent of its floated shares have been sold short....
...Frontline , the world’s largest oil tanker operator, was down 4.4 per cent to $25.93 while Overseas Shipholding Group was down 3.4 per cent to $33.24....
...The comments by Morten Arntzen, chief executive of New York-listed Overseas Shipholding Group, come amid a glut of sharp profit falls for the large tanker operators....
...In a filing with the US Securities and Exchange Commission, Frontline, the main vehicle of John Fredriksen, the Norwegian shipping tycoon, said it expected to contact Overseas Shipholding Group’s management...
...US-based Overseas Shipholding announced last week that its Q3 profits rose sharply....
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