Overseas Shipholding Group Installs Starlink Satellite Internet Service on Entire Fleet

Rhea-AI Summary

Overseas Shipholding Group, Inc. (OSG) is set to equip all vessels in its fleet with Space X’s Starlink satellite internet service, marking a pioneering moment in the Jones Act and US Flag industries. The company's IT department has worked to substantially complete installation of Starlink equipment on every vessel in the fleet, with full installation expected by year end. This advancement reflects OSG's commitment to seamless connectivity for seafarers, allowing high-speed internet access even in remote maritime locations. Patrick O’Halloran, OSG’s Chief Operations Officer, expressed enthusiasm for the transformational development, highlighting the company's investment in technology as a major step forward in the maritime industry.

Insights

Telecommunications Expert

The integration of Starlink satellite internet service across Overseas Shipholding Group, Inc.'s fleet represents a significant technological upgrade in maritime communications. This move is poised to enhance operational efficiencies and crew welfare, which can indirectly impact the company's reputation and employee satisfaction. High-speed internet access at sea can lead to improved vessel management and real-time communication with shoreside support, potentially reducing operational delays and improving logistical coordination.

Financial Analyst

From a financial perspective, this strategic investment in Starlink could lead to cost savings over time through optimized vessel operations and reduced turnover if it leads to higher crew retention rates. However, the capital expenditure for the installation and the ongoing service fees must be weighed against these potential benefits. While the immediate financial impact may be neutral to slightly negative due to the upfront costs, the long-term implications could be positive if the enhanced connectivity leads to operational improvements and competitive advantages in the energy transportation market.

Maritime Industry Analyst

Within the context of the maritime industry, the adoption of advanced satellite internet technology by a leading company like OSG could set a new standard for vessel connectivity, prompting others in the sector to follow suit. This could initiate a shift towards more technologically integrated maritime operations. However, it is crucial to monitor the execution and real-world benefits of this technology deployment to validate its effectiveness and return on investment for stakeholders.

TAMPA, Fla.--(BUSINESS WIRE)-- Overseas Shipholding Group, Inc. (the “Company” or “OSG”), a leading provider of energy transportation services, is set to mark a pioneering moment in the Jones Act and US Flag industries by equipping all vessels in its fleet with Space X’s Starlink satellite internet service. Since the introduction to the market of Starlink’s Global Maritime service earlier this year, OSG’s IT department has worked to substantially complete installation of Starlink equipment on every vessel in the fleet of OSG and ATC, with full installation expected by year end. OSG marks this advancement as part of the Company’s commitment to a new era of seamless connectivity for seafarers on board all OSG vessels.

The availability of Starlink allows seafarers to enjoy high-speed internet access even in the most remote maritime locations, staying connected with loved ones via video calls, accessing streaming services and social media, and attending to personal matters while at sea.

Patrick O’Halloran, OSG’s Chief Operations Officer, shared his enthusiasm for this transformational development stating, "Our crew identified this as important, and we listened. The goal of the Starlink install was to enhance vessel communications and improve our crew’s ability to connect with family and friends. Our seafarers are the greatest asset we possess, and we are glad to support them on this. Our investment in the Starlink technology represents a major step forward in our industry and highlights our commitment to improving the quality of life for our crewmembers while they are at sea.”

“The implementation of this service will further position OSG as a forward-thinking organization in the maritime industry,” Mr. O’Halloran continued. “In addition to the benefits that Starlink provides to OSG’s crew, the availability of reliable, high-speed internet access while our ships are travelling across the globe will permit seafarers to better manage their vessels and communicate with shoreside staff.”

Starlink is widely acclaimed for its constellation of low-level satellites that provide internet service access in even the most remote and challenging environments.

About Overseas Shipholding Group, Inc

Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing liquid bulk transportation services in the U.S. Flag markets. OSG’s U.S. Flag fleet consists of Suezmax crude oil tankers doing business in Alaska, conventional and lightering ATBs, shuttle and conventional MR tankers, and non-Jones Act MR tankers that participate in the U.S. Tanker Security Program.

Headquartered in Tampa, Florida, OSG is committed to setting high standards of excellence for its quality, safety, and environmental programs and is recognized as one of the world’s most customer-focused marine transportation companies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231219707296/en/

Investor Relations & Media Contact:

Susan Allan, Overseas Shipholding Group, Inc.

(813) 209-0620

sallan@osg.com

Source: Overseas Shipholding Group, Inc.

FAQ

What is Overseas Shipholding Group, Inc.'s (OSG) latest technological advancement in the maritime industry?

OSG is equipping all vessels in its fleet with Space X’s Starlink satellite internet service, providing high-speed internet access in remote maritime locations.

What is the goal of the Starlink installation on OSG's vessels?

The goal of the Starlink install is to enhance vessel communications and improve the crew’s ability to connect with family and friends, highlighting OSG's commitment to improving the quality of life for its crewmembers while at sea.

Who expressed enthusiasm for the transformational development at OSG?

Patrick O’Halloran, OSG’s Chief Operations Officer, expressed enthusiasm for the transformational development, highlighting the company's investment in technology as a major step forward in the maritime industry.

What are the benefits of Starlink for OSG's crew?

Starlink provides reliable, high-speed internet access, allowing seafarers to better manage their vessels and communicate with shoreside staff, in addition to staying connected with loved ones and accessing personal matters while at sea.