OSG shares and bonds a hot commodity despite Chapter 11 limbo

Looking for a hot shipping stock? Check out a company called Overseas Shipholding Group.

Bonds more to your taste? There’s been a real surge among three tranches of notes belonging to¿ Overseas Shipholding Group.

Yes, this is the same Overseas Shipholding Group (OSG) that is mired in Chapter 11 bankruptcy protection in the state of Delaware.

For both the stock and the bonds, the trend started roughly in late February and has continued into this week, when, for example, OSG stock hit the $4 mark for the first time since October — the month before it filed for Chapter 11.