Overseas Shipholding Group is confident that the Jones Act market is strengthening and has lifted its expectations for the fourth quarter.

The New York-listed tanker and barge owner is forecasting $30.3m in adjusted Ebitda for the final three months of the year — a near doubling from the $14.9m earned in the third quarter.

It is also expecting time charter equivalent growth of $13m, taking the total to $89.5m.