Overseas Shipholding Group – International Seaways
Overseas Shipholding Group (OSG) is pursuing a spin-off of to its international business and has announced key executive appointments for what it believes will be an industry-leading international crude and product tanker company, International Seaways. Following the spin-off, Lois K Zabrocky will become president and CEO of International Seaways, while Jeffrey D Pribor will join International Seaways as chief financial officer.
OSG’s president and CEO, Captain Ian T. Blackley said: “Lois is a talented executive who has been with OSG almost 25 years. I have worked closely with Lois for many years, and I am confident in her ability to lead International Seaways forward. As President of OSG’s International Flag Strategic Business Unit, Lois has had P&L responsibility and played a major part in its strategic decision making. We are confident that she is the ideal executive to lead International Seaways as it embarks on an exciting new chapter.”
As CFO of International Seaways, Jeffrey will be responsible for directing and supervising all of the financial functions of International Seaways, including accounting, financial planning and analysis, tax, treasury and investor relations.
He said: “This is an exciting time to be joining International Seaways, a financially strong company with both a rich history and a compelling future. I look forward to working with Lois and the entire International Seaways team to advance the company’s strategy and drive shareholder value.”
Upon separation, International Seaways will own and operate one of the largest fleets of international crude and product tankers worldwide. At September 30, 2016, International Seaways owned or operated a fleet of 55 vessels with a combined capacity of approximately 6.5 million deadweight tons and 864,800 m3. International Seaways’ operating fleet comprises one ULCC, eight VLCCs, eight Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers. Through joint venture partnerships, International Seaways has ownership interests in four liquefied natural gas carriers and two floating storage and offloading service vessels.
For more information visit www.osg.com
15th Nov 2016
