Osg


#62

Right now the only work out there is on tankers and anything pays more than $0.


#63

Sleeping at home every night, and doing any type of construction, work pays more than many of the maritime jobs available now.


#64

Maybe at the entry level or for the engineering types but not for deck officers, deep draft ones anyway (even if the pay was the same you still have to work all year to receive it and commute on boot).

Medical, pension, and continuing education (thanks MERPAC) are expensive and sailing/remaining in a union dispels uncertainty as to how those are funded. Making less sometimes means making a little more in the long run, even if it is with the AMO, but YMMV. For what it’s worth I always advise to join the MMP or MEBA. Maybe less work but more money for your time there. If a guy has an exit strategy then I recommend the AMO as you can move your license up quickly and probably sail on it.


#65

An overview of the current ATB market, even if slightly slanted.

It is the reduced manning that is still key IMHO.


#66

Shhhhh! Whatever you do, don’t call them “regulation beaters” because that’s just wrong!

But, what about the ATB itself? A talk with the universally recognized authority on ATB design, Bob Hill of Ocean Tug & Barge, reveals a few important points. First, any fears that the traditional (reduced) manning protocols on these vessels might change has been put to rest, especially since the Coast Guard largely ignored that aspect of the regulatory picture within their recently released subchapter M towboat rules. That financial advantage isn’t going to go away.

So there you have it: straight up, with no chaser. The Coast Guard, for it’s part, did in fact roll over very nicely on behalf of the industry and its associated political campaign contributors, and the Congress Critters they bought.

Well done!


#67

I can dig up the Union contract. I will say that the junior officers with Crowley are in the middle upper tier of the tanker companies with AMO. Crowley is #2 in pay when it comes to Senior officers. There is a few thousand dollar difference between the top three companies. Best paying ship is the one MSC contracted ship Kinder Morgan (Crowley) has on the west coast. There are quite a few younger faces on the tankers since the build spree opened up a lot of billets. It’s been a struggle to find senior officers with tanker experience. There are raises coming for the last two years left on the contract as well.

The pay for the non tankers companies is slightly better. I never understood that either being that tankers are much more hazardous and have so much more equipment.


#68

What is the engineers pay scales on the new Crowley ships?


#69

It has nothing to do with technical issues. Tanker contracts used to be the big money jobs until heavy cuts in the mid 1980s. Then others sold out and we lost good ones like West Coast Shippiing and tanker pay tanked. The only reason anyone sailed them is because that was better than sitting in the hall or working for scab outfits like AMO.


#70

I hear rotation times at Reinauer are 60/20 now and Bouchard is 40/20. Unless oil prices come up the east coast tugboat industry is going to become a hollow shell very fast.

Practically no one is hiring and now even the shitbird companies can hire the cream of the crop for the low money they pay and the nasty rattletrap boats they own, just so guys can pay their bills.


#71

AMO isn’t a scab outfit, it is a competing union so check the MEBA propaganda at the door. There are plenty of hard working guys here that sail with them and using that language belittles their career path and how they feed their families.

The D1 / D2 split was decades ago. Get over it.


#72

that’s a money making hitch there.


#73

Yeah that’s for sure , there plenty out outfits out there that still pay decent wages , that don’t move oil. Weeks , Great Lakes , marine construction jobs , dredge work isn’t slowing down , just takes a little
More than a point a to point b guy to do the work


#74

They’re still not hiring though.


#75

Uhm no, Reinauer is still 2 and 2. I can’t speak to Bouchard.


#76

I must have faulty info


#77

New report on the USA coast:


#78

A couple of years ago When OSG was running their old Maritrans Rigs through the Ship Yard The Rumors in Tampa. I Repeat the word Rumor. Was that it would be the vessels last Shipyard. Meaning after 5 years All the Maritrans Rigs were done. If your not familiar with Tampa. Tampa does a lot of Tug Barge Shipyard Work.


#79

That “rumor” is probably not far from the truth. None of the Barges have any type of ballast water treatment systems and as far as I know there are no plans to install them. I can’t see them putting that much money in old bottoms as the Oil Majors don’t want anything to do with the older barges most of the time.

It’s a shame to see a company that was once a good company to sail for going down the drain.

I have recently spoke with some fellow CE’s that still work there and they agree with me when I said I worry about having people in the Wheel house that have never towed but that’s true of just about all of the companies that have ATB’s.


#80

OSG reports smaller profit amid low rates

Tanker owner takes a hit due to tough market but manages to produce healthy cash flows.

August 9th, 2017 12:15 GMT

by Nick Roumpis

Published in Tankers

Weak tanker rates have taken their toll on Overseas Shipholding Group’s (OSG) bottom line for the second quarter.

The US-listed company reported net income of $3.2m for the three months to the end of June, compared to $29.9m in the corresponding period of 2016.

It noted that the final result for the prior year included income of $34m related to its spin-off International Seaways.

OSG, which now runs the group’s US flag business, saw its revenue decrease by nearly 19% at $96.2m.

Sam Norton, president and chief executive of OSG, said in a statement: “Increasing exposure to weakening spot markets during the just completed quarter weighed top-line performance.

“However, cost discipline helped to mitigate the effects of these developments, and, together with earnings from our shuttle tanker and lightering operations, served to produce healthy cash flows.”

Ebitda for the second quarter was $29.6m, compared to $46m in the same period of 2016.

OSG had $204.6m in cash at the end of the quarter and said it remains “favourably positioned to respond to opportunities”.

Richard Trueblood is serving as the company’s interim financial chief following the departure of Christopher Wolf.