Overseas Shipholding Group (OSG) has returned to a second-quarter profit after finally taking all its tankers out of lay-up for the first time since the beginning of the Covid-19 pandemic.

The New York-listed owner of Jones Act tankers said net income for the second quarter of 2022 was $3.7m, compared with a net loss of $509,000 in the first three months of this year and $10.7m