NEW YORK ( TheStreet) -- Overseas Shipholding (OSG), an operator of oil tankers, wasn't able to turn a profit in the first quarter, surprising most of Wall Street, which had expected rising rates for the largest ships in the company's fleet to buoy its results.As the broader equities market sold off sharply Tuesday, with Europe's sovereign debt crisis taking an abrupt turn for the worse, shares of OSG, as the company is often called, plunged harder than other names in the oil tanker sector.
Overseas Shipholding Sells Off on Miss
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