Two companies that own Jones Act tankers went through bankruptcy in recent years as the charter business declined following the Great Recession. They are Overseas Shipping Group (OSG) that own two US flag tankers and manage another ten and the smaller US Shipping Corp that owns three Jones Act tankers. These days the surge in US crude production has created strong demand for Jones Act tankers and record charter rates for owners. Now tankers once dedicated to the Alaska trade between Valdez and the West Coast are being considered for crude shuttle duty around the Lower 48. Today we continue our review of US Flag fleet owners.
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