New York-listed Overseas Shipholding Group (OSG) has declared its options to extend charterers on six US-flagged tankers bareboated from American Shipping for another three years.

The three-year terms will commence in December 2023, and comes a month after OSG handed back a trio of 46,810-dwt product tankers to Oslo-listed American Shipping in a move it claimed would free it from $27m in annual fixed payment obligations.

OSC did not identify the vessels that have had their charterers extended, but said with this arrangement, seven American Shipping vessels will continue on charter, six until the end of December 2026 and one into 2025.