OSP Osg America L.P.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15 ( d ) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

                               December 14, 2009                           

Date of Report (Date of earliest event reported)

 

            OSG AMERICA L.P.                  

(Exact Name of Registrant as Specified in Charter)

 

                001-33806                 

Commission File Number

 

 

 

Two Harbour Place, 302 Knights Run Avenue, Suite 1200

                                   Tampa, FL 33602                                    

(Address of Principal Executive Offices) (Zip Code)

 

Registrant's telephone number, including area code (813) 209-0600

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

 

Section 8 – Other Events

 

 

On December 14, 2009, the Registrant issued a press release announcing that it and its sponsor, Overseas Shipholding Group, Inc. (OSG or Sponsor; NYSE: OSG), which owns a 95.6% interest in the Registrant, have signed a settlement agreement with American Shipping Company ASA (“AMSC”), Aker Philadelphia Shipyard ASA, and Aker Philadelphia Shipyard, Inc. (“APSI”), (collectively “Aker”) that settles all outstanding commercial disputes among the Registrant, OSG and Aker and provides for the dismissal with prejudice of all the claims in the arbitration among the parties. The settlement also provides for certain modifications to other existing agreements among AMSC, the Registrant and OSG, including eliminating restrictions on OSG’s ability to purchase Jones Act product tankers and ATBs, changes to the profit sharing agreement as well as providing vessel purchase rights under specific conditions. The settlement agreement has received all necessary third party approvals, including the U.S. Coast Guard. A copy of the press release is attached to this Report as Exhibit 99.1 and hereby incorporated herein by reference.

 

Section   9 - Financial Statements and Exhibits.

 

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

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