Tag Archives: International Seaways

OSG Completes Spinoff Of International Seaways, Becomes Jones Act Locker

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The Overseas Shipholding Group (OSG) completed the taxable spinoff of International Seaways (INSW) on schedule last week. On November 30th, OSG shareholders should have received 0.3333 shares of INSW and the first day of trading was on December 1st. As discussed in our earlier piece, the situation for warrantholders was slightly different. As per usual, the internal goodwill was… Read More »

Keeping Up With The Jones Act- OSG To Complete International Seaways Spinoff On November 30

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Overseas Shipholding Group(OSG) is in the process of spinning off its International Flag business, International Seaways. On November 30, OSG shareholders will receive 0.3333 shares of International Seaways common stock for each share of OSG held on November 18. In addition, holders of OSG warrants will receive approximately .06332  shares per warrant held. International Seaways, which is already trading… Read More »