The barge is planned to be delivered in the second half of 2020, and will be paired with one of the company’s current modern tugs. The barge will also replace a rebuilt barge unit which is expected to be phased out of service before the delivery of the new barge.
Each of the two barges contracted with GM will have the same design, complying with the latest safety and environmental requirements. Overseas Shipholding also aims to finance the construction of the two barges at GM with a combination of existing cash and future debt financing.
Sam Norton, OSG’s President and CEO, said:
With the addition of these modern, efficient and environmentally responsible vessels to our existing fleet, we have increased confidence in our ongoing ability to offer our core customer base both the assets and the quality of service that they demand