Thank you, Andrea.
you Financial our us Results commentary those thank Third of to and on XXXX Quarter and results. morning, for presentation joining OSG's provide Good for allowing
and current ahead. of the that is color and challenges additional our And business the opportunities lie state
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more will are a materially just forward-looking includes forward-looking could results. Actual our may uncertainties by beyond including offering be We risk including our perspective statements and and results today, factors on our These the you to future control. factors, than by anticipated presentation those variety be contemplated OSG risks. affected statements statements about statements, and of subject from historical differ
which well of www.sec.gov, Form be XXXX, filing site, www.osg.com. our you we our factors, filings, particularly can found And our quarter Internet SEC today. later at on SEC's as XX-K our discussion refer XX-Q, which Forms own a XX-Q For and third these the anticipate the for to of as we website, released previously
except be required. in we forward-looking today, obligation update and do may this not as legally statements, any statements presentation to of Forward-looking assume any only speak as
reconcile define also GAAP closely our comparable release, measures the our non-GAAP financial is In addition, our most today presentation measures, to on which which earnings website. in we posted certain and includes
share today, at to you I results solid another performance able with the OSG. quarterly of to be am pleased
XX% from of Adjusted on increased the progress than made all in August. second since our EBITDA earnings by last objectives, call quarter. more have key We our
in our took third returning we to an We which our additional shareholders. purchase Frontier, expect quarter. add interest-bearing of the million the Alaskan next through million end XX which at quarter, repurchased will a we quarter, the million the of to And the within $X.X months. equivalent after X.X steps to prepaid be during fleet, shares, liabilities gain $XXX,XXX a to result agreement assets the During to fourth nearly the operation $XX we of discount, of in earning
is meet confidence exceed Cash flow us from giving working. continues expectations, operations our business our or to plan continuing that
of volumes specialized X margins lightering the our for been has and in tanker quarter. this most activities, refining for vessels achieved they've case better-than-expected accounting strong largely international financial year, lifted and supported results the the healthy for completed with operations our from As robust have boosted just rates TSP performance these
have fixed Favorable extensions fleet, Boston TCE the market both our supported are of excess of XXXX year, maintain OSG fixed tanker profile XXXX. end rates charter to during for days million for generate now XX% will fundamentals, a X-year strong predominantly and extend the throughout preferred charters. With which the medium-term quarter us overseas have the obtained allowed XXX available Jones Act through and the month contracts trading $XX at of per from Endurance, that our of in contract
Jones on also open the Charter the tankers third available during arrangements, the Explorer. Alaskan her open only will come will the options next which Mykonos, extending X overseas MR current our and the contract, OSG likely is Excluding Act year. final quarter vessel spot current design up TSP which X vessels, pick current by MSC for XXXX of into quarter of for trade the Based
is the that quarters. XXXX. expected flow the from from of us incremental level be This service XX-month generated end and our excludes additional cash free cash generated of forecast period XXXX,Xrd $XXX the Estimated any end exceed over in may above the might flow coming forward gives coverage of acquire the of capital and assets quarter to between that unusually we assets high million visibility. expenditures contract This debt an existing revenue fleet
maturities Flag The key combination of expected extended allocation flow to U.S. Trading durations, bankers, our in and returns assets. are: and where stakeholders. Internationally progress Jones value make to These ATB we long-term opportunistically see goals. us cash firm in and available investing to contract allow meeting charter incremental rates, staggered further provide our Act Both should capital first, Flag U.S. tanker
the Second, be to applying added creating considering at offer which unencumbered in at access business, through pool leverage if future peak new cycle a liquidity, acceptable our cost. while flows financial which could to of or through facilities, ways needed, financing would assets, overall sustain establishing time reduce financing an liquidity contingent same against to cash either
time generated the at vessels. shareholders; carbon value the ongoing shipped in In our fourth, interesting to and in in are to capture continuing Third, to capital seeking emissions chain efforts to that product emerging being in sustaining commodities the we sequester, see the bulk transporting on our for in not dioxide. advantage transportation liquid market and return liquid participating mix, investing industrial this of and in a first-mover this be most currently the of category, opportunities judiciously carbon dioxide gaming
the distorted Current prices vessels view, sanctioned short acquisition to operating charter created evaluate past first suitable options to actively MSC the modern this purchase our these the overseas open a of time the the in asset in into by trades, entry term. challenging opportunities making/finding a summer. MR are, in we Mykonos a TSP considering by continue buyers with replace candidate in When to goals, position
more market our that structure expand time, in normalized pricing opportunities will, create the our to we confidence and revert of have trading to in internationally Nonetheless, fleet a tankers.
one see OSG the optimism working calls, offers trades. promising previous authorization XX of on participating plays development Congress' of realizing niche providing ships leading this growth in the U.S. number continued in this important mentioned As a the are in to the we role and in that XX more ships, to from program. the ensure potential, to medium-term is TSP we opportunities this Flag increase of actively
vessel barrels Alaskan of with the than operated trade, we day. the incremental consider of for this be projects owned years It A increased conventional that transport linked over recent that X to production already in by more have to crude been on XXXX-built and project Jones to is to In announced the XXX,XXX most agreement per promising production. the weeks next development growth area OSG. Alaskan Alaskan There an we medium-term the demand Alaskan Act class have acquire concluded the tankers several Frontier. sister perspective
fuel operate XX significant total Including consumption vessels cost $XX in of XX% done intended to should investments while million, upgrades XX%. prepare years. the known, vessel, work make for With estimated compliance bringing including we vessel, main the more Frontier by existing paid the for months, to our the project the will XX regulations to system out to at the next propulsion Over cold a to layup. at with price purchase to in be least reduce
we to of have flow of roughly in in to for our Also Once EBITDA. consider be annual provide XX% fielding constructing new to of some we that the key million vessel million General's range customers. the this the XX% -- will or possibility contribution service, in increase the a Act, ATBs operating XXXX been $XX $XX estimated inquiries cash adjusted the into
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the capital implies is of barge. exposed regulation, is changes useful to life of the or in without tug the the propulsion impacting practice regarding Importantly, systems, investment future that roughly that XX% that of in centered barge. cost are fuel and the This risk on
our crew Finally, a limited of in tanker, an When over additional think domestic incentive operating tankers, to significantly conjunction new construction projects Discussions than current an the to such X projects shipbuilding X market and of signing. with above years prefer years on with an for assumption the following the favor delivery contract ATB under taking for for economic tanker extremely delivery. contract with ATB deliveries the any X finalizing creating the conducted after on new factors being And on we ATB period capacity lower assumed remained customers firm costs will are foreseeable of future. conditions. minimum
now X highlight facilities, payment XXXX. favorable, and obligations balloon interest-bearing would to roughly capital payments at fixed rate are will use our between current of separate markets $XX current which interest rates due debt, debt for that We come that under further now under of quite of of financing Turning the has end repayments. million potential June all
X our we June projects, expect in each with September to In facilities, obligations thinking retire X maturing capital impact these and of run to large new to current will operations. these XXXX on absence off. Our of sufficient XXXX, investment have that is March hand we in cash of the of allow XXXX, minimal to
allow reduce for would unencumbered as also vessels, free X of be capital result The leverage. which arise available for the up additional us this in new approach need should collateral to a financing, will future. financial will It
under playbook. this be As XX There repurchases continue capital roughly earlier Board and our warrant case million year. months, part million OSG's available retirements past share program, repurchase the existing has share authorized $XX to the for the allocation will $X.X remains been of by
to to remaining seek authority. return capital under We shareholders our opportunities will this out continue to
us storage advantage longer-term participating Energy growth months, along industrial-scale over established market. recently competitive transport for submit the and the undertaken lastly, capture transportation and operators building into have transport with understanding recent considerable industry. work towards sequestration Gulf for And emerging and commodities business the port grants of emerging proposals intermediate the when OSG development key a captured time franchise we to considering to the and of projects. sequestration for for develop opportunities witnessed facilitate gives the of momentum to this continue capture carbon horizon, significant U.S. applications In to COX. COX Department networks opportunities hubs OSG's in to has bulk detailed resources domestic we intermodal invest hubs Coast, from liquid for project in
sites. for region that solution the transport COX sequestration strander the in for emitters connecting industrial the with attractive captured believes is means marine OSG most
economically are operators develop working focused to achieve on vision. with this solutions to We viable these
details the resulted by managed quarter. call Maritime quarter ownership and financial tankers to from under to new LLC. entered within with like was of that now our take you to significantly third Most being from OSG OSG entities occurred Before owners the turning several over Charters, underlying between bareboat transactions In important Jones the ASA, on OSG's last Partners, which transaction, and Act would operates conjunction owned touch Partners AMSC transaction, new better-in-class the fund relationship have the I to in through that bareboat Maritime into X perspective, recent Dick, the over by at OSG's charter the that the results, a of arrangements, by OSG this company. agreements qualified transferred simplified owned govern private industry,
the Bareboat bareboat XX% chartered vessels. with to obligations, agreements all earlier, its of Other opportunity terms unchanged aggregate $X.X of payment noted an the of commercial the related from the OSG to At deferred agreements. material a revised prepay to transaction X As remaining discount X outstanding presented remain liability billion. of original the
operated U.S. Maritime flag Flag charters Command, security which tanker X tanker that tanker U.S. has to Maritime Maersk U.S. the program. X USMMI, assets to Sealift Partners small acquired recently to coastal MR and and tanker the Inc. Lines into the been charter Management also operator, our owned X acquired recently tankers, on are also Limited, Among entered by the Military MSC period MR period on the LLC
consolidation was barges and and widely integrate Holdings result Seaboat will agreement, entered joint Jones U.S. Act will Act reported, ocean-going completed, within trades. LLC. into ownership transportation which, XX Fairwater Jones to an Fairwater's operators, chemical new seeks the XX energy If Lastly, articulated tankers. vessels Crowley considerable of if flag liquid provider, assets a include venture intended of independent Tankers, as service into The completed, of and U.S. tug parties both in
now results The crewing provide provide details XXXX. turn over on will I Dick to company our and to third additional an will with management the quarter technical further for XX for Dick? you call also third-party-owned vessels.
