Jones Act M&A Activity: Saltchuk Takes Over Overseas Shipholding Group

Saltchuk's takeover of Overseas Shipholding Group, announced last week, continues the recent wave of M&A activity in the Jones Act tanker sector—the top three Jones Act tanker owners have changed less than 12 months.

Back in September 2023, Crowley and SEACOR Holdings Inc. announced the formation of joint venture Fairwater, and before that, in August 2023, Maritime Partners, LLC acquired AMSC ASA's Jones Act tanker fleet.

This market consolidation comes at a time when the fleet is only getting older, with no new vessels on order.

In the past, Seacor, AMSC, and OSG were all publicly-listed companies that provided valuable insights into this otherwise opaque market.

We'll now have to wait and see what happens from here without the benefit of their financial reporting.