Maritrans, Inc (OSG) 2004 Annual Report Book

This listing is for Maritrans, Inc (OSG) 2004 Annual Report Book. 

As shown in photos 2004 Annual Report for Maritrans, Inc.  

Overseas Shipholding Group, Inc. Maritrans, Inc., through its subsidiaries, provides marine transportation services to the oil and petroleum industries along the Gulf and Atlantic Coasts of the United States. It transports refined petroleum and petroleum products from refineries located primarily in Texas, Louisiana, and Mississippi to distribution points along the Gulf and Atlantic Coasts, including south of Cape Hatteras, North Carolina, Florida, and the West Coast.

Overseas Shipholding Group (OSG) is the operator of a fleet of twenty-four oil tankers and oil tug-barges. In 2024, the company was acquired by Seattle-based transportation company Saltchuk. Founded in 1948, Overseas Shipholding Group (OSG) is based in Tampa, Florida, United States. It has offices in Tampa, Florida and Newark, Delaware, with nearly 900 sea and shore-based employees. In 1969, under the leadership of Raphael Recanati, OSG began acquiring tanker ships to transport oil from Alaska to the lower 48 U.S. states. In the 1990s, OSG began to acquire luxury cruise liners. In 1995, the cruise ships resulted in losses of over $12 million to OSG. As a result of the losses, Michael Recanati, the son of Raphael Recanati, was reported to have been forced to leave OSG. The company filed for Chapter 11 bankruptcy in 2012 after the SEC accused CEO Morten Arntzen and CFO Miles Itkin of falsifying financial statements. In 2017, the company paid a $75,000 fine to the SEC to settle the securities fraud allegations. Former CFO Miles Itkin also paid a separate $75,000 fine. The executives were sued by OSG and agreed to pay a $16.25 million settlement in 2015. In July 2024 its stock was delisted from the NYSE as the company was acquired by the private company Saltchuk.

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