Background

The Formation of Alaska Tanker Company

Alaska Tanker Company was created in 1999 by Keystone Shipping Company (37.5%), OSG America Operating Company (37.5%), and BP Oil Shipping Company USA (25%) to consolidate all of BP's Alaskan crude oil shipping requirements into one operating company. During the previous 20 years, a varying number of ships and ship operating companies provided different levels of operating integrity when carrying BP's oil. This left gaps in safety and environmental assurance which BP, Keystone, and OSG acted to close with the formation of ATC.

As of March 12, 2020, Alaska Tanker Company is a wholly owned subsidiary of Overseas Shipholding Group, Inc. (NYSE: OSG), as a result of OSG’s acquisition of the equity interests held by Keystone and BP.  OSG also acquired three Alaska Class crude oil carrier vessels -
the Alaskan Explorer, Alaskan Legend, and Alaskan Navigator - from BP and has entered into a bareboat charter with BP for a fourth vessel, the Alaskan Frontier.

ATC has established uniform operating practices across its fleet while incorporating the best practices and highest standards of its founding member companies. The performance-oriented culture that has been established at ATC has fostered levels of achievement exceeding all expectations. OSG is fully aligned with these principles and supports ATC’s performance culture, which is similar to OSG’s own. OSG is recognized as one of the world’s most customer-focused marine transportation companies.