Overseas Shipholding Group (OSG), now under chapter 11 protection, is seeking to keep its contract, worth $93.6 million, with the U.S. government to provide ships and sealift support for U.S. military missions overseas, Dow Jones Daily Bankruptcy Review reported today. Even with a scheduled hit to the program because of the so-called sequester, OSG says keeping the contract will aid its reorganization by providing a reliable revenue stream and other benefits.
