Las Vegas, NV -- (SBWIRE) -- 01/21/2014 -- Overseas Ship holding Group Inc. (OTCMKTS: OSGIQ) was incorporated in 1948 and is settled in New York, New York. The company is principally focused in the ocean haulage of crude oil and petroleum products. Accordingly the Clientele of the company includes independent and state-owned oil refineries, oil companies, oil traders and the U.S. and international government entities.
Overseas Ship has recently announced that it is intended to outsource the technical managing department of its International Flag Shipping business to V.Ships, which is a leading independent ship manager.
Consequently this outsourcing contract is subject to the approval by the Bankruptcy Court, which will be head on 3rd of February, 2014. However this outsourcing contract would not majorly affect the company’s current operations and they will be continuing as before.
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