Saltchuk Acquires Overseas Shipholding Group

Saltchuk Acquires Overseas Shipholding Group

Overseas Shipholding Group is now a wholly-owned subsidiary of Seattle-based Saltchuk Resources, Inc. Saltchuk announced July 10 that it has completed the acquisition of Florida-based OSG for about $950 million, making the provider of liquid bulk transportation services for crude oil and petroleum Saltchuk’s seventh business unit. “With OSG, Saltchuk now numbers more than 8,500 people,” Saltchuk Chairman Mark Tabbutt said. “As with our other businesses, OSG will remain standalone and independently managed. We look forward to working alongside the OSG team as we move forward together.” OSG’s presence under the Saltchuk umbrella adds energy shipping to the company’s business…
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Saltchuk Acquiring Overseas Shipholding Group

Saltchuk Acquiring Overseas Shipholding Group

Seattle-based Saltchuk Resources announced May 20 that it has entered into an agreement to acquire Florida-based Overseas Shipholding Group, which provides liquid bulk transportation services for crude oil and petroleum in U.S. flag markets. The acquisition cost is estimated at $950 million, according to Saltchuk. The agreement terms, which secured unanimous approval from both companies’ Board of Directors, calls for Saltchuk to begin “a tender offer to acquire all outstanding shares of OSG it does not already own for $8.50 per share in cash.” Once the transaction’s complete, OSG is expected to operate as a standalone business within Saltchuk as…
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Alaska Trucking, Logistics Firm Carlile Names New CEO

Alaska Trucking, Logistics Firm Carlile Names New CEO

Saltchuk Logistics’ Chief Operating Officer Krista Williams has been appointed the new CEO of Alaska trucking and logistics firm Carlile, the company announced Oct. 13. Williams takes the helm of a company created in 1980 that has terminal operations in Alaska, Washington, Texas and Canada, as well as more than 390 employees. Williams is expected to work alongside Carlile’s president since 2015, Terry Howard, who plans to stay with the company through the rest of the year. Howard’s steadfast leadership has helped guide the company through many challenges in recent years, Williams said. “His commitment to our employees and to…
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