OSG - Overseas Shipholding GAAP EPS of $0.04 revenue of $118M

• Overseas Shipholding press release ( NYSE: OSG ): Q2 GAAP EPS of $0.04.
• Revenue of $118M (+33.6% Y/Y).
• CEO comment: “Our patience in seeking medium-term charters at remunerative rates for our conventional tankers and ATBs has also yielded positive results. In recent weeks we have concluded employment contracts for our vessels securing nearly $250 million in forward time charter equivalent earnings over contract periods ranging from six to 36 months. As of today, we have fixed employment for 92% of available vessel days across the balance of 2022, and close to 80% of vessel available days for 2023. The welcome cash flow visibility that these fixed revenue streams will provide over the next 18 months should provide greater flexibility in managing opportunities for building on our recent achievements.”

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