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Another massive deficit for US tanker carrier

Overseas Shipholding Group (OSG), which is under Chapter 11 bankruptcy protection in the United States, suffered a total deficit of almost USD 638 million in 2013, an even bigger loss than the year before.

Photo: PR-foto: DHT Holdings

American Overseas Shipholding Group (OSG), one of the world's largest tanker carriers and currently under Chapter 11 bankruptcy protection in the United States, suffered a net deficit of more than USD 624 million in 2013, compared to a USD 474 million deficit in 2012.

The operating deficit at OSG, which has a fleet of 89 ships, saw a slight decrease, to USD 326 million, from around USD 346 million in 2012.

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