Overseas Shipholding Group Reports First Quarter 2011 Results
As of March 31, 2011, OSG’s owned and operated fleet totaled 108 International Flag and U.S. Flag vessels compared with 110 at March 31, 2010. Fifty-six percent, or 61 vessels, were owned as of March 31, 2011, with the remaining vessels bareboat or time chartered-in. OSG’s newbuild program totaled 11 vessels (9 owned and 2 chartered-in) across its crude oil, product and U.S. Flag lines of business. The Company’s fleet list excludes vessels chartered-in where the duration of the charter was one year or less at inception. A detailed fleet list and updates on vessels under construction can be found in the Fleet section on www.osg.com.
|Vessels Owned||Vessels Chartered-in||Total at Mar. 31, 2011|
|Vessel Type||Number||Weighted byOwnership||Number||Weighted byOwnership||Total Vessels||VesselsWeighted byOwnership||Total Dwt|
|VLCC and ULCC||9||9.0||6||6.0||15||15.0||4,727,398|
|International Flag Crude Tankers||28||27.0||16||15.5||44||42.5||8,223,447|
|International Flag Product Carriers||16||16.0||22||22.0||38||38.0||1,923,590|
|Total Int’l Flag Operating Fleet||45||44.0||38||37.5||83||81.5||10,163,138|
|Handysize Product Carriers (2)||2||2.0||9||9.0||11||11.0||514,808|
|Clean ATBs (3)||7||7.0||—||—||7||7.0||195,616|
|Total U.S. Flag Operating Fleet||12||12.0||9||9.0||21||21.0||840,490|
|LNG Fleet||4||2.0||—||—||4||2.0||864,800 cbm|
|Total Operating Fleet||11,003,628|
|Total Newbuild Fleet||9||9.0||2||2.0||11||11.0||1,181,271|
|Total Operating & Newbuild Fleet||12,184,899|
1 Includes two owned U.S. Flag product carriers that trade internationally with associated revenue included in the Product Carriers segment
2 Includes two shuttle tankers, the Overseas Cascade and the Overseas Chinook
3 Includes the OSG 214, which was in lay up at March 31, 2011
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