Attached files
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8-K - 8-K - OVERSEAS SHIPHOLDING GROUP INC | v392784_8k.htm |
Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
OFFICE OF THE UNITED STATES TRUSTEE - REGION 3
POST-CONFIRMATION QUARTERLY SUMMARY REPORT
For the Period July 1, 2014 through September 30, 20142
Report | Appendix |
Explanation Attached |
Unaudited Consolidated Statement of Cash Receipts and Disbursements | B | |
Schedule of Disbursements by Legal Entity | C | |
Consolidated Overseas Shipholding Group, Inc. Balance Sheet as of September 30, 2014 | D | X |
Pursuant to 28 U.S.C. Section 1746(2), I hereby declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge and belief.
/s/ Ian T. Blackley | October 31, 2014 | ||
Ian T. Blackley | Date |
Senior Vice President and Chief Financial Officer
Overseas Shipholding Group, Inc.
Notes:
1 | Refer to Appendix A for a full listing of the Debtors as of July 1, 2014. |
2 | The Bankruptcy Court confirmed the Debtors’ joint plan of reorganization (D.I. 3701, the “Equity Plan”) by order entered on July 18, 2014 (the “Confirmation Order”). On August 5, 2014 (the “Effective Date”), the Equity Plan became effective and OSG emerged from bankruptcy. The reports provided in Appendix B and C include the pre-confirmation period from July 1, 2014 through July 17, 2014 as well as the post-confirmation period from July 18, 2014 through September 30, 2014. |
The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to future adjustment. Overseas Shipholding Group, Inc. (the “Company”) maintains its books and records on a business unit reporting level and those units do not in all cases correspond to legal entities. Certain assumptions have been made as noted herein. In addition, the Company maintains certain liabilities on its balance sheet (such as administrative payroll, benefits, professional fees and tax related liabilities) that may relate to one or more of the Company’s subsidiaries and no conclusion as to the legal obligation is made by the presentation herein. Nothing contained herein shall constitute a waiver of any of the Debtors or the Reorganized Debtors’ rights or an admission with respect to their Chapter 11 Cases (as defined in the Equity Plan), including, but not limited to, matters involving objections to claims, equitable subordination, defenses, characterization or re-characterization of contracts, under the provisions of Title 11 of the United States Code (the “Bankruptcy Code”) and/or causes of action under the provisions of chapter 5 of the Bankruptcy Code or any other relevant applicable laws to recover assets or avoid transfers. The statements contained herein (including estimates) other than historical data and information constitute forward-looking statements. These statements involve risks, assumptions and uncertainties that could cause the actual results of the Debtors or reorganized Debtors to differ materially from those stated or implied by such forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements after the date of this report. |
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 1 of 14 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
Appendix A
Debtors Listing as of July 1, 2014
Company Legal Name | Case No. |
Overseas Shipholding Group, Inc. | 12-20000 |
OSG International, Inc. | 12-20001 |
OSG Bulk Ships, Inc. | 12-20002 |
1372 Tanker Corporation | 12-20003 |
Africa Tanker Corporation | 12-20004 |
Alcesmar Limited | 12-20005 |
Alcmar Limited | 12-20006 |
Alpha Suezmax Corporation | 12-20007 |
Alpha Tanker Corporation | 12-20008 |
Amalia Product Corporation | 12-20009 |
Ambermar Product Carrier Corporation | 12-20010 |
Ambermar Tanker Corporation | 12-20011 |
Andromar Limited | 12-20012 |
Antigmar Limited | 12-20013 |
Aqua Tanker Corporation | 12-20014 |
Aquarius Tanker Corporation | 12-20015 |
Ariadmar Limited | 12-20016 |
Aspro Tanker Corporation | 12-20017 |
Atalmar Limited | 12-20018 |
Athens Product Tanker Corporation | 12-20019 |
Atlas Chartering Corporation | 12-20020 |
Aurora Shipping Corporation | 12-20021 |
Avila Tanker Corporation | 12-20022 |
Batangas Tanker Corporation | 12-20023 |
Beta Aframax Corporation | 12-20024 |
Brooklyn Product Tanker Corporation | 12-20025 |
Cabo Hellas Limited | 12-20026 |
Cabo Sounion Limited | 12-20027 |
Caribbean Tanker Corporation | 12-20028 |
Carina Tanker Corporation | 12-20029 |
Carl Product Corporation | 12-20030 |
Concept Tanker Corporation | 12-20031 |
Crown Tanker Corporation | 12-20032 |
Delphina Tanker Corporation | 12-20033 |
Delta Aframax Corporation | 12-20034 |
DHT Ania Aframax Corp. | 12-20035 |
DHT Ann VLCC Corp. | 12-20036 |
DHT Cathy Aframax Corp. | 12-20037 |
DHT Chris VLCC Corp. | 12-20038 |
DHT Rebecca Aframax Corp. | 12-20039 |
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 2 of 14 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
Appendix A
Debtors Listing as of July 1, 2014
Company Legal Name | Case No. |
DHT Regal Unity VLCC Corp. | 12-20040 |
DHT Sophie Aframax Corp. | 12-20041 |
Dignity Chartering Corporation | 12-20042 |
Edindun Shipping Corporation | 12-20043 |
Eighth Aframax Tanker Corporation | 12-20044 |
Epsilon Aframax Corporation | 12-20045 |
First Chemical Carrier Corporation | 12-20046 |
First LPG Tanker Corporation | 12-20047 |
First Union Tanker Corporation | 12-20048 |
Fourth Aframax Tanker Corporation | 12-20049 |
Front President Inc. | 12-20050 |
Goldmar Limited | 12-20051 |
GPC Aframax Corporation | 12-20052 |
Grace Chartering Corporation | 12-20053 |
International Seaways, Inc. | 12-20054 |
Jademar Limited | 12-20055 |
Joyce Car Carrier Corporation | 12-20056 |
Juneau Tanker Corporation | 12-20057 |
Kimolos Tanker Corporation | 12-20058 |
Kythnos Chartering Corporation | 12-20059 |
Leo Tanker Corporation | 12-20060 |
Leyte Product Tanker Corporation | 12-20061 |
Limar Charter Corporation | 12-20062 |
Luxmar Product Tanker Corporation | 12-20063 |
Luxmar Tanker LLC | 12-20064 |
Majestic Tankers Corporation | 12-20065 |
Maple Tanker Corporation | 12-20066 |
Maremar Product Tanker Corporation | 12-20067 |
Maremar Tanker LLC | 12-20068 |
Marilyn Vessel Corporation | 12-20069 |
Maritrans General Partner Inc. | 12-20070 |
Maritrans Operating Company L.P. | 12-20071 |
Milos Product Tanker Corporation | 12-20072 |
Mindanao Tanker Corporation | 12-20073 |
Mykonos Tanker LLC | 12-20074 |
Nedimar Charter Corporation | 12-20075 |
Oak Tanker Corporation | 12-20076 |
Ocean Bulk Ships, Inc. | 12-20077 |
Oceania Tanker Corporation | 12-20078 |
OSG 192 LLC | 12-20079 |
OSG 209 LLC | 12-20080 |
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 3 of 14 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
Appendix A
Debtors Listing as of July 1, 2014
Company Legal Name | Case No. |
OSG 214 LLC | 12-20081 |
OSG 215 Corporation | 12-20082 |
OSG 242 LLC | 12-20083 |
OSG 243 LLC | 12-20084 |
OSG 244 LLC | 12-20085 |
OSG 252 LLC | 12-20086 |
OSG 254 LLC | 12-20087 |
OSG 300 LLC | 12-20088 |
OSG 400 LLC | 12-20089 |
OSG America L.P. | 12-20090 |
OSG America LLC | 12-20091 |
OSG America Operating Company LLC | 12-20092 |
OSG Car Carriers, Inc. | 12-20093 |
OSG Clean Products International, Inc. | 12-20094 |
OSG Columbia LLC | 12-20095 |
OSG Constitution LLC | 12-20096 |
OSG Courageous LLC | 12-20097 |
OSG Delaware Bay Lightering LLC | 12-20098 |
OSG Discovery LLC | 12-20099 |
OSG Endeavor LLC | 12-20100 |
OSG Endurance LLC | 12-20101 |
OSG Enterprise LLC | 12-20102 |
OSG Financial Corp. | 12-20103 |
OSG Freedom LLC | 12-20104 |
OSG Honour LLC | 12-20105 |
OSG Independence LLC | 12-20106 |
OSG Intrepid LLC | 12-20107 |
OSG Liberty LLC | 12-20108 |
OSG Lightering LLC | 12-20109 |
OSG Lightering Acquisition Corporation | 12-20110 |
OSG Lightering Solutions LLC | 12-20111 |
OSG Mariner LLC | 12-20112 |
OSG Maritrans Parent LLC | 12-20113 |
OSG Navigator LLC | 12-20114 |
OSG New York, Inc. | 12-20115 |
OSG Product Tankers AVTC, LLC | 12-20116 |
OSG Product Tankers Member LLC | 12-20117 |
OSG Product Tankers II, LLC | 12-20118 |
OSG Product Tankers I, LLC | 12-20119 |
OSG Product Tankers, LLC | 12-20120 |
OSG Quest LLC | 12-20121 |
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 4 of 14 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
Appendix A
Debtors Listing as of July 1, 2014
Company Legal Name | Case No. |
OSG Seafarer LLC | 12-20122 |
OSG Ship Management, Inc. | 12-20123 |
OSG Valour LLC | 12-20124 |
Overseas Allegiance Corporation | 12-20125 |
Overseas Anacortes LLC | 12-20126 |
Overseas Boston LLC | 12-20127 |
Overseas Diligence LLC | 12-20128 |
Overseas Galena Bay LLC | 12-20129 |
Overseas Houston LLC | 12-20130 |
Overseas Integrity LLC | 12-20131 |
Overseas Long Beach LLC | 12-20132 |
Overseas Los Angeles LLC | 12-20133 |
Overseas Martinez LLC | 12-20134 |
Overseas New Orleans LLC | 12-20135 |
Overseas New York LLC | 12-20136 |
Overseas Nikiski LLC | 12-20137 |
Overseas Perseverance Corporation | 12-20138 |
Overseas Philadelphia LLC | 12-20139 |
Overseas Puget Sound LLC | 12-20140 |
Overseas Sea Swift Corporation | 12-20141 |
Overseas Shipping (GR) Ltd. | 12-20142 |
Overseas ST Holding LLC | 12-20143 |
Overseas Tampa LLC | 12-20144 |
Overseas Texas City LLC | 12-20145 |
Pearlmar Limited | 12-20146 |
Petromar Limited | 12-20147 |
Pisces Tanker Corporation | 12-20148 |
Polaris Tanker Corporation | 12-20149 |
Queens Product Tanker Corporation | 12-20150 |
Reymar Limited | 12-20151 |
Rich Tanker Corporation | 12-20152 |
Rimar Chartering Corporation | 12-20153 |
Rosalyn Tanker Corporation | 12-20154 |
Rosemar Limited | 12-20155 |
Rubymar Limited | 12-20156 |
Sakura Transport Corp. | 12-20157 |
Samar Product Tanker Corporation | 12-20158 |
Santorini Tanker LLC | 12-20159 |
Serifos Tanker Corporation | 12-20160 |
Seventh Aframax Tanker Corporation | 12-20161 |
Shirley Tanker SRL | 12-20162 |
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 5 of 14 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
Appendix A
Debtors Listing as of July 1, 2014
Company Legal Name | Case No. |
Sifnos Tanker Corporation | 12-20163 |
Silvermar Limited | 12-20164 |
Sixth Aframax Tanker Corporation | 12-20165 |
Skopelos Product Tanker Corporation | 12-20166 |
Star Chartering Corporation | 12-20167 |
Suezmax International Agencies, Inc. | 12-20168 |
Talara Chartering Corporation | 12-20169 |
Third United Shipping Corporation | 12-20170 |
Tokyo Transport Corp. | 12-20171 |
Transbulk Carriers, Inc. | 12-20172 |
Troy Chartering Corporation | 12-20173 |
Troy Product Corporation | 12-20174 |
Urban Tanker Corporation | 12-20175 |
Vega Tanker Corporation | 12-20176 |
View Tanker Corporation | 12-20177 |
Vivian Tankships Corporation | 12-20178 |
Vulpecula Chartering Corporation | 12-20179 |
Wind Aframax Tanker Corporation | 12-20180 |
1. |
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 6 of 14 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
Appendix B
Unaudited Consolidated Statement of Cash Receipts and Disbursements
For the Period from July 1, 2014 through September 30, 2014
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 7 of 14 |
Appendix B
Overseas Shipholding Group, Inc.
Unaudited Consolidated Statement of Cash Receipts and Disbursements
For the Period July 1, 2014 through September 30, 2014
(in thousands of dollars)
Beginning Cash Balance | 644,905 | |||
Cash Receipts: | ||||
Vessel Related Receipts | 230,079 | |||
Debt & Equity Offering | 2,703,133 | |||
Sale of Debtors' Assets | 8,397 | |||
Other Receipts1 | 31,850 | |||
Total Receipts | 2,973,459 | |||
Cash Disbursements: | ||||
Claim Distributions | 2,913,591 | |||
Vessel Related Disbursements | 170,385 | |||
General and Administrative: | ||||
Compensation & Benefits | 27,672 | |||
Other General & Administrative | 17,908 | |||
Taxes | 2,986 | |||
Restructuring Costs and Loan Repayments | 50,285 | |||
U.S. Trustee Fees | 781 | |||
Other Disbursements | 6,708 | |||
Total Disbursements | 3,190,316 | |||
Ending Cash Balance2 | 428,048 |
1 Other Receipts includes items such as distributions from joint ventures, insurance claim receipts and other miscellaneous refunds and receipts.
2 Includes reserves established by management for the purposes of settling claims that remain disputed and other bankruptcy related costs, but excludes approximately $10 million of additional restricted cash included in other current assets in the unaudited condensed consolidated balance sheets.
Page 8 of 14 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
Appendix C
Schedule of Disbursements by Legal Entity
For the Period from July 1, 2014 through September 30, 2014
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 9 of 14 |
Appendix C
Overseas Shipholding Group, Inc., et. al.
Schedule of Disbursements by Legal Entity
For the Period July 1, 2014 through September 30, 2014
Filing Entity | Case No. | Disbursements under the Plan | Bankruptcy Professionals | Ordinary Course Payments | Total Payments | |||||||||||||||
Overseas Shipholding Group, Inc. | 12-20000 | $ | 2,264,406,826 | $ | 3,954,491 | $ | 24,902,277 | $ | 2,293,263,594 | |||||||||||
OSG International, Inc. | 12-20001 | 341,301,201 | 9,834,470 | 3,544,795 | 354,680,466 | |||||||||||||||
OSG Bulk Ships, Inc. | 12-20002 | 1,403,240 | 7,572,382 | 3,978,796 | 12,954,417 | |||||||||||||||
1372 Tanker Corporation | 12-20003 | - | 75,035 | 4,376,360 | 4,451,395 | |||||||||||||||
Africa Tanker Corporation | 12-20004 | - | 271,120 | - | 271,120 | |||||||||||||||
Alcesmar Limited | 12-20005 | - | 25,472 | 590,642 | 616,114 | |||||||||||||||
Alcmar Limited | 12-20006 | - | 27,922 | 509,708 | 537,630 | |||||||||||||||
Alpha Suezmax Corporation | 12-20007 | 13,976,146 | 27,251 | - | 14,003,397 | |||||||||||||||
Alpha Tanker Corporation | 12-20008 | - | 391 | - | 391 | |||||||||||||||
Amalia Product Corporation | 12-20009 | - | 35,747 | 474,892 | 510,639 | |||||||||||||||
Ambermar Product Carrier Corporation | 12-20010 | - | 24,380 | 896,331 | 920,711 | |||||||||||||||
Ambermar Tanker Corporation | 12-20011 | - | 2,646 | - | 2,646 | |||||||||||||||
Andromar Limited | 12-20012 | - | 35,992 | 406,359 | 442,351 | |||||||||||||||
Antigmar Limited | 12-20013 | - | 37,426 | 825,352 | 862,779 | |||||||||||||||
Aqua Tanker Corporation | 12-20014 | - | 5,876 | - | 5,876 | |||||||||||||||
Aquarius Tanker Corporation | 12-20015 | 2,514,336 | 23,311 | 427 | 2,538,074 | |||||||||||||||
Ariadmar Limited | 12-20016 | - | 27,108 | 1,340,916 | 1,368,025 | |||||||||||||||
Aspro Tanker Corporation | 12-20017 | - | 1,617 | - | 1,617 | |||||||||||||||
Atalmar Limited | 12-20018 | - | 23,164 | 1,608,250 | 1,631,414 | |||||||||||||||
Athens Product Tanker Corporation | 12-20019 | - | 44,713 | 641,451 | 686,164 | |||||||||||||||
Atlas Chartering Corporation | 12-20020 | 4,695,449 | 26,957 | - | 4,722,406 | |||||||||||||||
Aurora Shipping Corporation | 12-20021 | - | 31,306 | 1,572,003 | 1,603,308 | |||||||||||||||
Avila Tanker Corporation | 12-20022 | - | 1,313 | - | 1,313 | |||||||||||||||
Batangas Tanker Corporation | 12-20023 | - | 92,309 | 984,037 | 1,076,346 | |||||||||||||||
Beta Aframax Corporation | 12-20024 | 32,406,342 | 28,637 | - | 32,434,979 | |||||||||||||||
Brooklyn Product Tanker Corporation | 12-20025 | - | 37,839 | - | 37,839 | |||||||||||||||
Cabo Hellas Limited | 12-20026 | - | 32,622 | 614,942 | 647,564 | |||||||||||||||
Cabo Sounion Limited | 12-20027 | - | 33,501 | 688,852 | 722,353 | |||||||||||||||
Caribbean Tanker Corporation | 12-20028 | - | 32,999 | 1,756,641 | 1,789,640 | |||||||||||||||
Carina Tanker Corporation | 12-20029 | 4,400,283 | 24,432 | 1,271 | 4,425,986 | |||||||||||||||
Carl Product Corporation | 12-20030 | - | 34,327 | 451,835 | 486,162 | |||||||||||||||
Concept Tanker Corporation | 12-20031 | 2,925,818 | 12,148 | 808,395 | 3,746,361 | |||||||||||||||
Crown Tanker Corporation | 12-20032 | - | 577 | - | 577 | |||||||||||||||
Delphina Tanker Corporation | 12-20033 | - | - | - | - | |||||||||||||||
Delta Aframax Corporation | 12-20034 | - | 42,382 | 925,028 | 967,410 | |||||||||||||||
DHT Ania Aframax Corp. | 12-20035 | 206,788 | 2,617 | - | 209,405 | |||||||||||||||
DHT Ann VLCC Corp. | 12-20036 | 399,126 | 31,767 | - | 430,893 | |||||||||||||||
DHT Cathy Aframax Corp. | 12-20037 | 46,306 | 16,652 | - | 62,958 | |||||||||||||||
DHT Chris VLCC Corp. | 12-20038 | 350,782 | 26,828 | - | 377,609 | |||||||||||||||
DHT Rebecca Aframax Corp. | 12-20039 | 350,220 | 1,847 | - | 352,068 | |||||||||||||||
DHT Regal Unity VLCC Corp. | 12-20040 | 223,809 | 15,063 | - | 238,872 | |||||||||||||||
DHT Sophie Aframax Corp. | 12-20041 | - | 11,221 | - | 11,221 | |||||||||||||||
Dignity Chartering Corporation | 12-20042 | 33,823,311 | 35,395 | - | 33,858,706 | |||||||||||||||
Edindun Shipping Corporation | 12-20043 | - | - | - | - | |||||||||||||||
Eighth Aframax Tanker Corporation | 12-20044 | - | 33,493 | 1,407,704 | 1,441,197 | |||||||||||||||
Epsilon Aframax Corporation | 12-20045 | - | 42,455 | 2,647,263 | 2,689,718 | |||||||||||||||
First Chemical Carrier Corporation | 12-20046 | - | 7,307 | - | 7,307 | |||||||||||||||
First LPG Tanker Corporation | 12-20047 | - | 6,723 | - | 6,723 | |||||||||||||||
First Union Tanker Corporation | 12-20048 | - | 28,812 | 601,187 | 629,999 | |||||||||||||||
Fourth Aframax Tanker Corporation | 12-20049 | - | 61,724 | 23,970 | 85,694 | |||||||||||||||
Front President Inc. | 12-20050 | - | 127,711 | 1,663,911 | 1,791,622 | |||||||||||||||
Goldmar Limited | 12-20051 | - | 52,817 | 778,893 | 831,710 | |||||||||||||||
GPC Aframax Corporation | 12-20052 | 21,790,752 | 27,206 | 12,831 | 21,830,789 | |||||||||||||||
Grace Chartering Corporation | 12-20053 | 943,714 | 9,382 | - | 953,096 | |||||||||||||||
International Seaways, Inc. | 12-20054 | - | 36,896 | 4,665,465 | 4,702,361 | |||||||||||||||
Jademar Limited | 12-20055 | - | 51,078 | 526,177 | 577,255 | |||||||||||||||
Joyce Car Carrier Corporation | 12-20056 | - | 16,334 | - | 16,334 | |||||||||||||||
Juneau Tanker Corporation | 12-20057 | - | 15,678 | - | 15,678 | |||||||||||||||
Kimolos Tanker Corporation | 12-20058 | 14,424,769 | 28,927 | 1,177,565 | 15,631,262 |
Page 10 of 14 |
Appendix C
Overseas Shipholding Group, Inc., et. al.
Schedule of Disbursements by Legal Entity
For the Period July 1, 2014 through September 30, 2014
Filing Entity | Case No. | Disbursements under the Plan | Bankruptcy Professionals | Ordinary Course Payments | Total Payments | |||||||||||||||
Kythnos Chartering Corporation | 12-20059 | - | 36,643 | 1,457,988 | 1,494,631 | |||||||||||||||
Leo Tanker Corporation | 12-20060 | 2,598,835 | 23,808 | - | 2,622,643 | |||||||||||||||
Leyte Product Tanker Corporation | 12-20061 | - | 58,045 | 388,366 | 446,410 | |||||||||||||||
Limar Charter Corporation | 12-20062 | 5,518,485 | 35,222 | 474 | 5,554,180 | |||||||||||||||
Luxmar Product Tanker Corporation | 12-20063 | - | 34,590 | 1,219,973 | 1,254,563 | |||||||||||||||
Luxmar Tanker LLC | 12-20064 | - | 76,964 | - | 76,964 | |||||||||||||||
Majestic Tankers Corporation | 12-20065 | - | 22,302 | 568,976 | 591,278 | |||||||||||||||
Maple Tanker Corporation | 12-20066 | - | 197,522 | 1,704,498 | 1,902,020 | |||||||||||||||
Maremar Product Tanker Corporation | 12-20067 | - | 8,944 | 6,394 | 15,338 | |||||||||||||||
Maremar Tanker LLC | 12-20068 | - | 73,704 | 20,991 | 94,695 | |||||||||||||||
Marilyn Vessel Corporation | 12-20069 | - | 471 | - | 471 | |||||||||||||||
Maritrans General Partner Inc. | 12-20070 | - | - | - | - | |||||||||||||||
Maritrans Operating Company L.P. | 12-20071 | 17,647 | 46,132 | - | 63,779 | |||||||||||||||
Milos Product Tanker Corporation | 12-20072 | - | 45,356 | 2,304,884 | 2,350,240 | |||||||||||||||
Mindanao Tanker Corporation | 12-20073 | - | 61,281 | 11,766,178 | 11,827,460 | |||||||||||||||
Mykonos Tanker LLC | 12-20074 | - | 88,733 | 1,902,915 | 1,991,648 | |||||||||||||||
Nedimar Charter Corporation | 12-20075 | 6,251,172 | 21,634 | - | 6,272,806 | |||||||||||||||
Oak Tanker Corporation | 12-20076 | - | 113,333 | 2,028,864 | 2,142,196 | |||||||||||||||
Ocean Bulk Ships, Inc. | 12-20077 | - | 13 | - | 13 | |||||||||||||||
Oceania Tanker Corporation | 12-20078 | - | 70,508 | 131,250 | 201,758 | |||||||||||||||
OSG 192 LLC | 12-20079 | - | 30,672 | 67,802 | 98,474 | |||||||||||||||
OSG 209 LLC | 12-20080 | - | 35,157 | 1,766,381 | 1,801,538 | |||||||||||||||
OSG 214 LLC | 12-20081 | - | 28,139 | 230,696 | 258,835 | |||||||||||||||
OSG 215 Corporation | 12-20082 | - | 122 | - | 122 | |||||||||||||||
OSG 242 LLC | 12-20083 | - | 46,832 | 126,005 | 172,837 | |||||||||||||||
OSG 243 LLC | 12-20084 | - | 56,192 | 83,105 | 139,297 | |||||||||||||||
OSG 244 LLC | 12-20085 | - | 33,177 | 83,258 | 116,435 | |||||||||||||||
OSG 252 LLC | 12-20086 | - | 28,822 | 1,335,054 | 1,363,876 | |||||||||||||||
OSG 254 LLC | 12-20087 | - | 55,372 | 161,167 | 216,540 | |||||||||||||||
OSG 300 LLC | 12-20088 | - | 41 | - | 41 | |||||||||||||||
OSG 400 LLC | 12-20089 | - | 14,578 | - | 14,578 | |||||||||||||||
OSG America L.P. | 12-20090 | - | 68 | - | 68 | |||||||||||||||
OSG America LLC | 12-20091 | - | 395 | - | 395 | |||||||||||||||
OSG America Operating Company LLC | 12-20092 | 318,718 | 2,477,177 | 1,591 | 2,797,486 | |||||||||||||||
OSG Car Carriers, Inc. | 12-20093 | - | 11,868 | - | 11,868 | |||||||||||||||
OSG Clean Products International, Inc. | 12-20094 | - | 49 | - | 49 | |||||||||||||||
OSG Columbia LLC | 12-20095 | - | 11,377 | 473,587 | 484,964 | |||||||||||||||
OSG Constitution LLC | 12-20096 | - | 2,793 | - | 2,793 | |||||||||||||||
OSG Courageous LLC | 12-20097 | - | 26,379 | 528,313 | 554,692 | |||||||||||||||
OSG Delaware Bay Lightering LLC | 12-20098 | - | 573,781 | 5,813,340 | 6,387,121 | |||||||||||||||
OSG Discovery LLC | 12-20099 | - | 1,342 | - | 1,342 | |||||||||||||||
OSG Endeavor LLC | 12-20100 | - | 244 | - | 244 | |||||||||||||||
OSG Endurance LLC | 12-20101 | - | 25,321 | 465,190 | 490,510 | |||||||||||||||
OSG Enterprise LLC | 12-20102 | - | 10,186 | 413,383 | 423,569 | |||||||||||||||
OSG Financial Corp. | 12-20103 | - | 10,027 | - | 10,027 | |||||||||||||||
OSG Freedom LLC | 12-20104 | - | 2,519 | - | 2,519 | |||||||||||||||
OSG Honour LLC | 12-20105 | - | 9,910 | 1,964,260 | 1,974,170 | |||||||||||||||
OSG Independence LLC | 12-20106 | - | 15,171 | 405,307 | 420,478 | |||||||||||||||
OSG Intrepid LLC | 12-20107 | - | 7,645 | 424,083 | 431,728 | |||||||||||||||
OSG Liberty LLC | 12-20108 | - | 10,032 | - | 10,032 | |||||||||||||||
OSG Lightering LLC | 12-20109 | 203,079 | 526,434 | 7,887,196 | 8,616,709 | |||||||||||||||
OSG Lightering Acquisition Corporation | 12-20110 | - | 1,977 | - | 1,977 | |||||||||||||||
OSG Lightering Solutions LLC | 12-20111 | - | 2,620 | - | 2,620 | |||||||||||||||
OSG Mariner LLC | 12-20112 | - | 244 | - | 244 | |||||||||||||||
OSG Maritrans Parent LLC | 12-20113 | - | 193,214 | - | 193,214 | |||||||||||||||
OSG Navigator LLC | 12-20114 | - | 7,023 | 1,324,086 | 1,331,109 | |||||||||||||||
OSG New York, Inc. | 12-20115 | 321,972 | 33,227 | - | 355,199 | |||||||||||||||
OSG Product Tankers AVTC, LLC | 12-20116 | - | 49 | - | 49 | |||||||||||||||
OSG Product Tankers Member LLC | 12-20117 | - | - | - | - |
Page 11 of 14 |
Appendix C
Overseas Shipholding Group, Inc., et. al.
Schedule of Disbursements by Legal Entity
For the Period July 1, 2014 through September 30, 2014
Filing Entity | Case No. | Disbursements under the Plan | Bankruptcy Professionals | Ordinary Course Payments | Total Payments | |||||||||||||||
OSG Product Tankers II, LLC | 12-20118 | - | 7 | - | 7 | |||||||||||||||
OSG Product Tankers I, LLC | 12-20119 | - | 4 | - | 4 | |||||||||||||||
OSG Product Tankers, LLC | 12-20120 | - | 13 | - | 13 | |||||||||||||||
OSG Quest LLC | 12-20121 | - | 153 | - | 153 | |||||||||||||||
OSG Seafarer LLC | 12-20122 | - | 678 | - | 678 | |||||||||||||||
OSG Ship Management, Inc. | 12-20123 | 11,507,800 | 570,354 | 16,788,884 | 28,867,038 | |||||||||||||||
OSG Valour LLC | 12-20124 | - | 1,107 | - | 1,107 | |||||||||||||||
Overseas Allegiance Corporation | 12-20125 | - | 2 | - | 2 | |||||||||||||||
Overseas Anacortes LLC | 12-20126 | - | 44,442 | 2,734,362 | 2,778,803 | |||||||||||||||
Overseas Boston LLC | 12-20127 | - | 41,795 | 2,675,736 | 2,717,531 | |||||||||||||||
Overseas Diligence LLC | 12-20128 | - | 395 | - | 395 | |||||||||||||||
Overseas Galena Bay LLC | 12-20129 | - | 2,631 | - | 2,631 | |||||||||||||||
Overseas Houston LLC | 12-20130 | - | 40,208 | 2,453,088 | 2,493,296 | |||||||||||||||
Overseas Integrity LLC | 12-20131 | - | 1,058 | - | 1,058 | |||||||||||||||
Overseas Long Beach LLC | 12-20132 | - | 39,755 | 2,554,868 | 2,594,623 | |||||||||||||||
Overseas Los Angeles LLC | 12-20133 | - | 69,161 | 3,790,271 | 3,859,432 | |||||||||||||||
Overseas Martinez LLC | 12-20134 | - | 29,314 | 3,929,207 | 3,958,521 | |||||||||||||||
Overseas New Orleans LLC | 12-20135 | - | 2,179 | - | 2,179 | |||||||||||||||
Overseas New York LLC | 12-20136 | - | 43,736 | 2,269,320 | 2,313,056 | |||||||||||||||
Overseas Nikiski LLC | 12-20137 | - | 40,295 | 2,833,061 | 2,873,356 | |||||||||||||||
Overseas Perseverance Corporation | 12-20138 | - | 376 | - | 376 | |||||||||||||||
Overseas Philadelphia LLC | 12-20139 | - | 898 | 555 | 1,453 | |||||||||||||||
Overseas Puget Sound LLC | 12-20140 | - | 8,461 | - | 8,461 | |||||||||||||||
Overseas Sea Swift Corporation | 12-20141 | - | 8 | - | 8 | |||||||||||||||
Overseas Shipping (GR) Ltd. | 12-20142 | - | 574,677 | - | 574,677 | |||||||||||||||
Overseas ST Holding LLC | 12-20143 | - | 473,535 | 4,872,420 | 5,345,955 | |||||||||||||||
Overseas Tampa LLC | 12-20144 | - | 25,735 | 9,040,473 | 9,066,208 | |||||||||||||||
Overseas Texas City LLC | 12-20145 | - | - | 2,308,402 | 2,308,402 | |||||||||||||||
Pearlmar Limited | 12-20146 | - | 50,106 | 444,129 | 494,234 | |||||||||||||||
Petromar Limited | 12-20147 | - | - | 990,513 | 990,513 | |||||||||||||||
Pisces Tanker Corporation | 12-20148 | 6,242,495 | 26,077 | 349 | 6,268,921 | |||||||||||||||
Polaris Tanker Corporation | 12-20149 | 5,972,093 | - | 143 | 5,972,236 | |||||||||||||||
Queens Product Tanker Corporation | 12-20150 | - | 61,129 | - | 61,129 | |||||||||||||||
Reymar Limited | 12-20151 | - | - | 730,066 | 730,066 | |||||||||||||||
Rich Tanker Corporation | 12-20152 | 3,184,818 | 21,737 | 1,566,217 | 4,772,772 | |||||||||||||||
Rimar Chartering Corporation | 12-20153 | 11,229,683 | - | - | 11,229,683 | |||||||||||||||
Rosalyn Tanker Corporation | 12-20154 | - | 36,225 | 621,197 | 657,421 | |||||||||||||||
Rosemar Limited | 12-20155 | - | - | 504,911 | 504,911 | |||||||||||||||
Rubymar Limited | 12-20156 | - | 44,770 | 16,931 | 61,701 | |||||||||||||||
Sakura Transport Corp. | 12-20157 | - | 34,223 | 509,585 | 543,808 | |||||||||||||||
Samar Product Tanker Corporation | 12-20158 | - | 48,355 | 327,916 | 376,271 | |||||||||||||||
Santorini Tanker LLC | 12-20159 | - | 89,082 | 2,011,159 | 2,100,241 | |||||||||||||||
Serifos Tanker Corporation | 12-20160 | 15,403,119 | 17,958 | 1,272,803 | 16,693,880 | |||||||||||||||
Seventh Aframax Tanker Corporation | 12-20161 | - | 35,896 | 1,877,101 | 1,912,997 | |||||||||||||||
Shirley Tanker SRL | 12-20162 | 11,731 | 58,326 | 609,259 | 679,316 | |||||||||||||||
Sifnos Tanker Corporation | 12-20163 | 14,068,739 | 19,537 | 949,008 | 15,037,283 | |||||||||||||||
Silvermar Limited | 12-20164 | - | 28,369 | 506,445 | 534,814 | |||||||||||||||
Sixth Aframax Tanker Corporation | 12-20165 | - | 19,423 | 939,566 | 958,988 | |||||||||||||||
Skopelos Product Tanker Corporation | 12-20166 | - | 36,891 | 1,660,904 | 1,697,795 | |||||||||||||||
Star Chartering Corporation | 12-20167 | - | 9,242 | 932,400 | 941,642 | |||||||||||||||
Suezmax International Agencies, Inc. | 12-20168 | - | 53,160 | 2,331 | 55,491 | |||||||||||||||
Talara Chartering Corporation | 12-20169 | 37,415,470 | 36,015 | - | 37,451,485 | |||||||||||||||
Third United Shipping Corporation | 12-20170 | - | 51,970 | - | 51,970 | |||||||||||||||
Tokyo Transport Corp. | 12-20171 | - | 38,275 | 487,962 | 526,238 | |||||||||||||||
Transbulk Carriers, Inc. | 12-20172 | - | 247 | - | 247 | |||||||||||||||
Troy Chartering Corporation | 12-20173 | 38,615,636 | 57,639 | - | 38,673,275 | |||||||||||||||
Troy Product Corporation | 12-20174 | - | 57,894 | - | 57,894 | |||||||||||||||
Urban Tanker Corporation | 12-20175 | 5,226,177 | 24,945 | 856,393 | 6,107,514 |
Page 12 of 14 |
Appendix C
Overseas Shipholding Group, Inc., et. al.
Schedule of Disbursements by Legal Entity
For the Period July 1, 2014 through September 30, 2014
Filing Entity | Case No. | Disbursements under the Plan | Bankruptcy Professionals | Ordinary Course Payments | Total Payments | |||||||||||||||
Vega Tanker Corporation | 12-20176 | - | 3,567 | - | 3,567 | |||||||||||||||
View Tanker Corporation | 12-20177 | 4,225,163 | 13,083 | 969,973 | 5,208,220 | |||||||||||||||
Vivian Tankships Corporation | 12-20178 | - | 30,625 | - | 30,625 | |||||||||||||||
Vulpecula Chartering Corporation | 12-20179 | 4,669,000 | 27,413 | - | 4,696,413 | |||||||||||||||
Wind Aframax Tanker Corporation | 12-20180 | - | 25 | - | 25 | |||||||||||||||
$ | 2,913,591,051 | $ | 31,518,359 | $ | 187,497,981 | $ | 3,132,607,392 |
Page 13 of 14 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
In Re: | Chapter 11 | |
OVERSEAS SHIPHOLDING GROUP, INC., et al.1 | Case Number: 12-20000 (PJW) | |
Debtors | Jointly Administered | |
Hon. Peter J. Walsh |
Appendix D
Overseas Shipholding Group, Inc.
Unaudited Condensed Consolidated Balance Sheet
As of September 30, 2014
Explanatory Note: This item will be filed as a supplement to this report subsequent to its filing
with the Securities and Exchange Commission.
Post-Confirmation Quarterly Summary Report
July 1, 2014 through September 30, 2014
Page 14 of 14 |