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OSG provides update on FSO Africa


Published Jan 25, 2010
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Overseas Shipholding Group, Inc.,

Overseas Shipholding Group says that a notice of cancellation was received from Maersk Oil Qatar AS (MOQ) on January 21, 2010 concerning the FSO Africa, one of two vessels owned by a joint venture between OSG and Euronav N.V. (Euronext Brussels: EURN) and subject to a service contract with MOQ expiring in 2017.

The joint venture partners contest MOQ's right to terminate the contract.

The conversion of the FSO Africa is continuing and is near completion. The sister vessel, FSO Asia, has been operating on site offshore Qatar since January 4, 2010. The FSO Asia and FSO Africa are sophisticated floating storage and offloading (FSO) service vessels.

Tags: Overseas Shipholding Group



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