Seafarers may be aware of recent news reports concerning American Shipping Company (AMSC) selling its fleet of Jones Act-compliant tankers to Louisiana-based Maritime Partners. Some of those vessels are operated by Overseas Shipholding, while the others are operated by Keystone Shipping.
The sale is expected to be completed later this year, but, regardless of timing, all SIU jobs remain in place aboard the vessels, as does the SIU contract. There is effectively no change for the union.
For practical purposes, from an SIU perspective, the sale is loosely equivalent to having an individual homeowner’s mortgage sold by (for example) Wells Fargo to Truist.
More details will be published and posted as they become available.
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