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The Aframax vessel class is considered to be the “workhorse” among tankers because of its flexibility and high potential utilization. OSG’s Aframax tonnage is predominantly deployed on short-haul routes, trading in both the spot and short-term time charter markets carrying crude and refined products in the Atlantic Basin. Typical routes include Venezuela, East Coast Mexico, the North Sea and the Mediterranean to destinations in the U.S. Gulf, U.S. Atlantic Coast ports, Canada, Northwest Europe and the Mediterranean.
In 1996, OSG and PDV Marina, S.A. co-founded and today commercially manage Aframax International (AI), a major commercial operator of Aframax tankers. The pool is dedicated to serving the demand for high-quality tanker transportation of leading oil companies and charterers.
Although active in the spot market, the Company emphasizes employment of its Aframax fleet among multi-year COAs, short-term time charters and third-party lighterage operations. The scale of OSG’s fleet, the pool in which it operates, combined with contract optimization, provides consistent opportunities for backhaul voyages and minimizes vessel wait-time.
Facts and Figures
- Number of Aframax tankers in OSG Fleet: 24
- Pool Information: Co-founded in 1996 by OSG and PDV Marina S.A. Pool participants include: Overseas Shipholding Group, Inc. and PDV Marina S.A. (founding members); Hansa Shipping GmbH & Co. KG, Koenig & Cie. GmbH & Co. KG., Phoenix Energy Navigation Ltd., Scorpio Ship Management and Seaarland Shipping Management GmbH (members)
- Number of Vessels in AI pool: 40
- Vessel Capacity: 80,000 to 120,000 dwt
- Charter Profile: Spot market and short-term time charters
OSG’s Industry Viewpoint
- Trading Routes Map
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