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1. Company Snapshot

1.a. Company Description

Overseas Shipholding Group, Inc., together with its subsidiaries, owns and operates a fleet of oceangoing vessels.Its vessels are engaged in the transportation of crude oil and petroleum products in the United States flag trade.As of December 31, 2021, the company owned or operated a fleet of 24 vessels totaling an aggregate of approximately 1.7 million deadweight tons.


It serves independent oil traders, refinery operators, and the United States and international government entities.The company was founded in 1948 and is headquartered in Tampa, Florida.

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1.b. Last Insights on OSG

Recent developments at Overseas Shipholding Group, Inc. (OSG) have been driven by the company's acquisition by Saltchuk Resources, Inc. for $8.50 per share in cash. This transaction has led to investigations by law firms, including Halper Sadeh LLC, The Schall Law Firm, and Ademi LLP, into potential breaches of fiduciary duty by the OSG board and management. These investigations aim to determine if the sale price was fair to shareholders.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Rimini Street Launches Rimini Manage™ for Dayforce

May -20

Source: businesswire.com

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Kimberly-Clark: Not Convinced Of Meeting FY 2024 Guidance

Oct -24

Source: seekingalpha.com

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The Schall Law Firm Is Carrying Out A Comprehensive Investigation Into Potential Breaches Of Trust Duties By Overseas Shipholding Group Inc

Jul -30

Source: accesswire.com

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The Schall Law Firm Is Carrying Out A Comprehensive Investigation Into Potential Breaches Of Trust Duties By Overseas Shipholding Group Inc

Jul -30

Source: accesswire.com

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The Schall Law Firm Is Conducting A Thorough Investigation Into Potential Breaches Of Trust Duties By Overseas Shipholding Group Inc

Jul -26

Source: accesswire.com

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The Schall Law Firm Is Conducting A Thorough Investigation Into Potential Breaches Of Trust Duties By Overseas Shipholding Group Inc

Jul -25

Source: accesswire.com

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The Schall Law Firm Is Conducting A Thorough Investigation Into Potential Breaches Of Trust Duties By Overseas Shipholding Group Inc

Jul -25

Source: accesswire.com

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The Schall Law Firm Is Conducting A Thorough Investigation Into Potential Breaches Of Trust Duties By Overseas Shipholding Group Inc

Jul -23

Source: accesswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Time and Bareboat Charter

Expected Growth: 4.5%

Growing demand for maritime trade, increasing global seaborne trade, and rising need for efficient logistics are driving the time charter and bareboat charter markets. Overseas Shipholding Group, Inc.'s diversified fleet and strong customer relationships will benefit from this trend.

Contracts of Affreightment

Expected Growth: 4.5%

Growing demand for dedicated shipping capacity, increasing global trade, and fixed-rate agreements drive the Contracts of Affreightment market growth, ensuring a stable revenue stream for Overseas Shipholding Group, Inc.

Voyage Charter

Expected Growth: 4.5%

Growing demand for bulk cargo transportation, increasing global trade, and rising investments in infrastructure development are expected to drive the voyage charter market growth.

7. Detailed Products

Crude Oil Transportation

Overseas Shipholding Group, Inc. provides crude oil transportation services, offering a range of vessels designed to transport crude oil from production sites to refineries and terminals.

Refined Petroleum Product Transportation

The company offers transportation services for refined petroleum products, such as gasoline, diesel, and jet fuel, from refineries to distribution terminals and storage facilities.

Dry Bulk Cargo Transportation

Overseas Shipholding Group, Inc. provides dry bulk cargo transportation services, carrying commodities such as iron ore, coal, and grains.

Jones Act Transportation

The company offers Jones Act-compliant transportation services, providing cargo transportation between U.S. ports, including Puerto Rico and the U.S. Virgin Islands.

Marine Services

Overseas Shipholding Group, Inc. provides a range of marine services, including vessel management, crewing, and technical services.

8. Overseas Shipholding Group, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Overseas Shipholding Group, Inc. is medium due to the availability of alternative transportation methods, such as air freight and trucking, which can substitute for sea transportation.

Bargaining Power Of Customers

The bargaining power of customers for Overseas Shipholding Group, Inc. is low due to the company's strong market position and the lack of concentration among its customers.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Overseas Shipholding Group, Inc. is medium due to the presence of a few large suppliers of fuel and other essential services, which can exert some pressure on the company.

Threat Of New Entrants

The threat of new entrants for Overseas Shipholding Group, Inc. is low due to the high barriers to entry in the shipping industry, including the need for significant capital investment and regulatory compliance.

Intensity Of Rivalry

The intensity of rivalry for Overseas Shipholding Group, Inc. is high due to the competitive nature of the shipping industry, with many established players competing for market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 61.85%
Debt Cost 5.87%
Equity Weight 38.15%
Equity Cost 5.87%
WACC 5.87%
Leverage 162.09%

11. Quality Control: Overseas Shipholding Group, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Growth: 3.0

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A-Score: 6.0/10

Value: 6.9

Growth: 3.9

Quality: 3.1

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Value: 7.0

Growth: 3.4

Quality: 1.5

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A-Score: 4.7/10

Value: 7.6

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Quality: 5.0

Yield: 0.0

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Overseas Shipholding Group

A-Score: 4.2/10

Value: 6.6

Growth: 5.9

Quality: 5.3

Yield: 0.0

Momentum: 5.0

Volatility: 2.7

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A-Score: 3.8/10

Value: 9.8

Growth: 2.6

Quality: 3.7

Yield: 1.0

Momentum: 1.5

Volatility: 4.3

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

8.5$

Current Price

8.5$

Potential

-0.00%

Expected Cash-Flows