Arntzen praises Scorpio rescue of OSG management arm

Scorpio Tankers’ acquisition of the Athens-based shipmanagement arm of Overseas Shipholding Group (OSG) is drawing praise from the NewYork-based owner’s former chief executive.

“I think it’s a brilliant move on Scorpio’s part,” said Morten Arntzen, who resigned from OSG’s helm in February 2013.

“The Greek office did a great job managing OSG’s vessels, and not just on spot fixtures. They also handled vessels on time charter — that experience could work well for Scorpio if it does carry through on any intentions to launch an MLP [master limited partnership].”

Arntzen