Edition:
United Kingdom

American Shipping Co & OSG Jointly Says Extension Of All Tanker Charters


Monday, 10 Dec 2018 

Dec 10 (Reuters) - American Shipping Company ASA ::REG-AMERICAN SHIPPING COMPANY ASA : OSG & AMSC JOINTLY ANNOUNCE EXTENSION OF ALL TANKER CHARTERS.AMERICAN SHIPPING COMPANY - OSG HAS EXERCISED OPTIONS TO EXTEND ITS CHARTER AGREEMENTS WITH AMSC FOR NINE VESSELS CURRENTLY UNDER CHARTER FROM AMSC.AMERICAN SHIPPING CO-CHARTER AGREEMENTS FOR 5 OF VESSELS EXTENDED FOR ADDITIONAL 3-YEAR TERMS, COMMENCING FROM DECEMBER 2019 AND ENDING IN DEC 2022.AMERICAN SHIPPING COMPANY- CHARTER AGREEMENTS FOR FOUR VESSELS WERE EXTENDED FOR ONE-YEAR TERMS COMMENCING FROM DEC 2019 AND ENDING IN DEC 2020.ALL TEN BAREBOAT CHARTER AGREEMENTS WITH AMSC HAVE NOW BEEN EXTENDED FOR ADDITIONAL PERIODS.AMERICAN SHIPPING- CHARTER AGREEMENTS PROVIDE EACH ONE-YEAR OPTION IS ONLY USABLE ONCE, WHILE THREE- AND FIVE-YEAR OPTIONS ARE AVAILABLE INDEFINITELY.