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OSG America's Newest Jones Act Product Carrier Begins Trading
TAMPA, Fla.-(Business Wire)-October 3, 2008 - OSG America L.P. (OSG America or the Company) (NYSE: OSP), the largest operator of U.S. Flag coastal product carriers and barges transporting refined petroleum products, announced that the Overseas Texas City began trading today, commencing a three-year charter to BP Products North America. The vessel, a 46,817 dwt Jones Act product carrier, delivered to OSG on September 19, 2008 and is the third newbuild U.S. Flag vessel to join OSG America’s fleet since the Company’s initial public offering in November 2007. An additional thirteen vessels are slated to deliver through 2011 in connection with the master limited partnership’s fleet growth/renewal plans.
The ship was named in a ceremony held on board the vessel at the Aker Philadelphia Shipyard on September 18, 2008. The sponsor was Mrs. Jane Baldry, wife of David Baldry, Chief Executive Officer of BP Shipping.
The Overseas Texas City is the fifth in a series of 10 Jones Act Product Carriers and two Jones Act Shuttle Tankers being built at Aker Philadelphia Shipyard.
ABOUT OSG AMERICA L.P.
OSG America L.P. (NYSE: OSP) is the largest operator of U.S. Flag coastal product carriers and barges transporting refined petroleum products, based on barrel-carrying capacity. OSP has an operating fleet of 23 Handysize product carriers and tug barges that trade primarily in the Jones Act Market and its newbuild program, including option vessels, totals 13 vessels that deliver through 2011. OSG America L.P.’s limited partner units are listed on the New York Stock Exchange and trade under the symbol “OSP.†More information is available at www.osgamerica.com.
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