News

New Bedford Foss Marine Terminal Opens Deep Water Berth to Accommodate Offshore Wind Vessels

August 29, 2024

Foss Transforms Derelict Power Plant Property into Gateway for Wind Industry to Provide Clean Energy 

Foss Prevailing Wind docked at new NBFMT deep-water berth

NEW BEDFORD, Mass. – The New Bedford Foss Marine Terminal (NBFMT) this month opened its first deep water berth after two years of demolition and construction to support North America’s emerging wind energy sector. The berth is part of Phase II of the project and was designed specifically to accommodate offshore wind service vessels.  A 300-foot bulkhead has been installed and dredging has occurred to further improve the use of the berth for both domestic and international vessels.

Administrators with the operations and maintenance (O&M) facility under development anticipate that once completed, the terminal will host a monthly rotation of up to 300 offshore workers that will be a boon for the local economy, according to Andrew Saunders, a New Bedford native and president of NBFMT.

“It’s great to be part of a project that is transforming a derelict power generating station into a state-of-the-art offshore wind hub able to support projects here in the US Northeast,” Saunders said. “All of the old, outdated buildings are now gone and the recently completed waterside improvements position us to be the gateway to the offshore wind lease blocks. The opening of this new deep-water berth is just the beginning with more waterside and land side improvements that will occur over the next few years.

“We are very excited about what the future will bring for the industry and for the regional economy as a whole.  We’re building up to provide advanced management and warehouse space for partners who are servicing the burgeoning Northeast wind industry. With the opening of the deep-water berth, a consistent circulation of industry workers will spend a few days in town every month spending their company dollars on local businesses. Physically and financially, it’s truly a breath of fresh air for New Bedford.”

Future Phase III Completion Rendering

The 27-acre private terminal, owned by Foss Offshore Wind and local business leaders, has progressed through collaborations with city, state and federal agencies, notably New Bedford mayor Jonathan Mitchell, the New Bedford city council, the Port of New Bedford, the Massachusetts Department of Environmental Protection and the Massachusetts Clean Energy Center (MassCEC). MassCEC so far has contributed $15 million to the project.

In order to complete the deep-water berth, The City of New Bedford facilitated state, local and private funds to dredge more than 80,000 cubic yards of contaminated material from the waters just off the site. This work was part of the City’s Phase V Dredge Program that allows for the removal of legacy contamination from decades past.  In all, the Phase V Dredge Program will remove and encapsulate more than 500,000 cubic yards of contaminated material from New Bedford harbor.  When complete, the terminal will boast four large individual berths and a floating pier system that can accommodate up to eleven offshore wind construction and O&M vessels.

The New Bedford Foss Marine Terminal is a model that Foss intends to emulate in multiple East and West Coast markets as the wind industry grows over the coming years, according to Foss Offshore Wind president Joel Whitman in Boston.

“Our nation needs electricity and we need it from resources that don’t continue to send environmentally damaging materials into the atmosphere,” he said. “The terminal is an investment in the people and ports necessary to make this energy transition possible.”

About NBFMT: 

The New Bedford Foss Marine Terminal is a collaboration between Foss Offshore Wind, a Saltchuk Marine company, and Cannon Street Holdings, which is comprised of three local business leaders. Prior to transforming the property into a clean energy hub, the 27-acre property had a history of operating within the energy sector dating back to the whaling era more than a century ago then as a coal and oil facility through the modern era. Foss is developing the property through three phases: demolition that is complete, improvements to address the waterside infrastructure and site ground bearing capacity that is underway and eventual improvements to both expand the waterside capabilities and build out O&M warehouse, fueling capabilities and crew transport support structures. Further development, including a parking garage will coincide with industry growth over the coming decade.

About Foss Maritime

Foss was founded in 1889 in Tacoma, Wash., and grew to become the largest tugboat operation on the West Coast. Foss Offshore Wind was created in 2020 to service the growing offshore renewables market in the United States and globally. Encompassing the expansive service offerings from the Saltchuk family of companies, Foss Offshore Wind is uniquely positioned on the East and West coasts to provide clients with the full range of on- and offshore support services. Visit Foss Offshore Wind’s digital space to stay current on the New Bedford facility and future terminal and service expansions.

Saltchuk Welcomes Overseas Shipholding Group to Its Family of Companies

July 10, 2024

Seattle, WA, Tampa, FL – Saltchuk Resources, Inc. (“Saltchuk”) today announced that it has successfully completed its previously announced tender offer to acquire all of the outstanding shares of common stock of Overseas Shipholding Group, Inc. (NYSE: OSG) not already owned by Saltchuk for a purchase price of $8.50 per share in cash, an enterprise value of approximately $950 million.  The transaction closed this morning, and OSG is now a wholly-owned subsidiary of Saltchuk.

“With OSG, Saltchuk now numbers more than 8,500 people who share one thing in common: every day we strive to safely, responsibly, and reliably perform our services,” Saltchuk Chairman Mark Tabbutt stated.  “As with our other businesses, OSG will remain standalone and independently managed. We look forward to working alongside the OSG team as we move forward together.”

OSG joins Saltchuk as its seventh business unit, adding energy shipping to its diversified lines of business which include domestic shipping, international shipping, logistics, marine services, energy distribution, and air cargo.

Sam Norton, OSG’s President and Chief Executive Officer remarked, “The transaction with Saltchuk marks a significant development in the long history of OSG and we are very pleased that it has been successfully completed.  Leadership at both of our companies sees the value of having our business lie within the Saltchuk family of companies, an organization committed to sustaining the important role of the domestic maritime industry within the USA.  The entire team at OSG looks forward to our future together.”

The proposed transaction was announced May 20, 2024 and the expiration of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 was announced on June 26th.

Computershare Inc. and Computershare Trust Company, N.A., acting as joint depositary and paying agent for the tender, have advised that, as of the expiration of the tender offer, approximately 47,770,076 shares of OSG common stock were validly tendered and not validly withdrawn pursuant to the tender offer, representing approximately 66% of the issued and outstanding shares of OSG common stock, which percentage does not include Saltchuk’s holdings.

As a result of the completion of the transaction, prior to the opening of trading on the New York Stock Exchange on July 10, 2024, all shares of OSG common stock will cease trading, and the OSG shares will subsequently be delisted from NYSE and deregistered under the Securities Exchange Act of 1934, as amended.

About Overseas Shipholding Group, Inc.

Overseas Shipholding Group, Inc. (“OSG”) provides liquid bulk transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG’s 21 vessel U.S. Flag fleet consists of Suezmax crude oil tankers, conventional and lightering ATBs, shuttle and conventional MR tankers, and non-Jones Act MR tankers that participate in the U.S. Tanker Security Program.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.

Contact

Susan Allan

Eastern Shipbuilding Group awarded contract to construct four escort tugs for Saltchuk Marine

July 8, 2024

PANAMA CITY, FL – Eastern Shipbuilding Group (ESG) has been awarded a contract to construct four new escort tugs for Saltchuk Marine. The vessels will be built at ESG’s Allanton and Port St. Joe facilities, with delivery expected in 2026.

“We are pleased to partner with Saltchuk Marine on this significant fleet renewal project. Our team is dedicated to delivering high-quality, reliable vessels with industry-leading low lifecycle costs that meet stringent environmental standards and support our customer’s missions for many, many years,” said Joey D’Isernia, Chairman and CEO of ESG.  “This contract award is more solid evidence that ESG is able to successfully design and build both government and commercial vessels while remaining highly competent and competitive in both arenas.”

“As the West Coast’s premier tug operator for more than a century, it’s critical that we continue to innovate and provide ship assist services in a manner that prioritizes safety and minimizes environmental impact,” said Jason Childs, Saltchuk Marine’s president and CEO. “The combination of Robert Allan team’s naval architecture and engineering experience and ESG’s proven history of building best-in-class vessels will ensure that we continue to provide our customers with the most reliable service on the West Coast, Hawaii, and Alaska.”

As a premier builder of commercial vessels in the United States, Eastern Shipbuilding Group is renowned for delivering high-quality tugs on budget and on schedule that have the resilience to support operations for decades. Over the past 20 years, ESG has successfully delivered 35 ship assist tugs to satisfied customers. This contract marks the beginning of Saltchuk Marine’s long-term fleet renewal project, with the new tugs set to support West Coast port operations and comply with EPA Tier 4 and California Air Resources Board (CARB) environmental requirements.

VESSEL SPECS:

Customer – Saltchuk

Delivery – 2026

Type – Ship Assist/Escort Tug

Length, overall – 84′-0″ (excluding fenders)

Breadth, moulded – 42′-0″

Depth, moulded – 14′-0″

Draft, navigation – 18′-7″

Accommodation for – 8 persons

Speed, ahead – 12 knots

Bollard Pull, minimum – 95 Short Tons (86.2 MT)

Main Engines – Caterpillar 3516E, EPA Tier 4, 3500 hp (2610 kW) @ 1,800 rpm

Thrusters – Schottel RudderPropeller SRP 510

Hawser Winch – Markey Machine DEPGF-52, 75HP, Single Drum Class II Winch

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About Eastern Shipbuilding Group, Inc.

Eastern Shipbuilding Group, Inc. (ESG) is an American owned and operated shipbuilder with three shipyards on the Florida Gulf Coast. They build world class vessels for national defense and commercial clients, including the U.S. Coast Guard’s Heritage Class Offshore Patrol Cutters. ESG is the largest private sector employer in Northwest Florida and is a 2017 recipient of the U.S. Department of Homeland Security Small Business of the Year award. With a portfolio of over 350 vessels and Defense Contract Management Agency (DCMA) and Defense Contract Audit Agency (DCAA) certified systems, ESG is known as one of the most diverse vessel construction companies in the country. www.easternshipbuilding.com

About Saltchuk Marine

The Saltchuk Marine family, with the tugboat as the center of our services, is steeped in a rich and storied history of innovation and service. With a keen use of technology, Saltchuk Marine companies: Foss Maritime, Young Brothers, Cook Inlet Tug & Barge, AmNav Maritime, and Foss Offshore Wind continue to lead the industry in harbor services and marine transportation solutions, with safety and the environment leading our principles. Saltchuk Marine is part of Saltchuk. Saltchuk provides air cargo, domestic shipping, international shipping, logistics, marine services, and energy distribution services throughout North America. Visit www.saltchuk.com for more information.

Overseas Shipholding Group Enters Into a Definitive Agreement to Be Acquired by Saltchuk Resources, Inc.

May 20, 2024

Purchase Price of $8.50 per Share in Cash

Transaction Valued at $950 Million

Tampa, FL and Seattle, WA, May 20, 2024 – Overseas Shipholding Group, Inc. (“OSG” or the “Company”) (NYSE: OSG), a leading provider of liquid bulk transportation services in the energy industry for crude oil and petroleum products primarily in the U.S. Flag markets, and Saltchuk Resources, Inc. (“Saltchuk”), a privately owned family of diversified freight transportation, marine service, and energy distribution companies, today announced that they have entered into a definitive merger agreement pursuant to which Saltchuk has agreed to acquire OSG in a transaction that values the Company at an aggregate equity value of approximately $653 million and a total transaction value of $950 million.

Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies, Saltchuk will commence a tender offer to acquire all outstanding shares of OSG it does not already own for $8.50 per share in cash. The purchase price represents a 61% premium to OSG’s 30-day volume-weighted average price on January 26, 2024, the last day of trading before Saltchuk disclosed its non-binding indication of interest, as well as a 44% premium to the January 26 closing price of OSG’s shares and a 36% premium to Saltchuk’s initial indicative price of $6.25 per share.

“We are pleased to have reached an agreement that reflects our leading Jones Act business, longstanding customer relationships, and the value created by the OSG team over the past several years,” said Douglas D. Wheat, Chairman of the OSG Board of Directors. “Following Saltchuk’s indication of interest to buy the Company at the end of January, the Board of Directors, with the assistance of external financial and legal advisors, undertook a review of the Company’s financial and strategic alternatives, including remaining a publicly held company. As part of that review, the Board conducted a comprehensive process in which it engaged with Saltchuk and approached and engaged with other potential transaction counterparties. Informed by its review and that process, the Board firmly believes Saltchuk’s increased offer represents compelling value to, and is in the best interest of, our shareholders not affiliated with Saltchuk.”

“We are excited to enter into this new chapter together with Saltchuk, which has been a significant shareholder of OSG over the past several years and has a close understanding of our business,” said Sam Norton, OSG’s President and Chief Executive Officer. “Saltchuk’s operating companies have distinguished themselves in their respective segments, and this transaction partners us with an organization that shares our values and focus on customers. We are thrilled to soon join the Saltchuk family of companies.”

Mark Tabbutt, Chairman of Saltchuk Resources, said: “OSG, our nation’s leading domestic marine transporter of energy, has a strong cultural fit with Saltchuk and shares our commitment to operational safety, reliability, and environmental stewardship. On behalf of the Saltchuk organization, we look forward to welcoming more than 1,000 members of the OSG team to our family of companies and growing the enterprise through multi-generational investments.”

Following the close of the transaction, OSG will operate as a standalone business unit within Saltchuk, becoming a member of its family of diversified freight transportation, marine service, and energy distribution companies.

The closing of the tender offer will be subject to customary closing conditions, including the expiration of the Hart-Scott-Rodino Act waiting period and the tender of shares representing, together with the shares already owned by Saltchuk, at least a majority of OSG’s outstanding shares of Class A common stock, and is expected to close in the next few months. Promptly following the successful completion of the tender offer, Saltchuk will acquire all remaining OSG shares not purchased in the tender offer through a second-step merger at the same price.

The transaction is not subject to a financing condition. It will be funded through a combination of committed debt financing and cash on hand.

Evercore is acting as exclusive financial advisor to OSG and Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal advisor to OSG. K&L Gates LLP is acting as legal advisor to Saltchuk and BDT & MSD Partners is acting as Saltchuk’s financial advisor.

About Saltchuk Resources, Inc.

Saltchuk is a privately owned family of diversified freight transportation, marine service, and energy distribution companies, with consolidated annual revenue of approximately $5 billion and 7,500 employees. We believe in – and champion – the inherent value of our companies’ individual brands. The Corporate Home provides leadership and resources to our companies but not direct management of their operations. Saltchuk is a values-driven organization. We put safety first. We are reliable – we take care of our customers and conduct business with honesty and integrity. We are committed to each other, to protecting our environment, and to contributing to our communities in a work environment where anyone would be proud for their children to work. Additional information about Saltchuk, which is headquartered in Seattle, is available at www.saltchuk.com.

About Overseas Shipholding Group, Inc.

Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing liquid bulk transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG’s U.S. Flag fleet consists of Suezmax crude oil tankers, conventional and lightering ATBs, shuttle and conventional MR tankers, and non-Jones Act MR tankers that participate in the U.S. Tanker Security Program.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.

Cautionary Notice Regarding Forward-Looking Statements

Statements contained in this communication regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “believes,” “estimates,” “expects,” “focused,” “continuing to,” “seeking,” “will” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These statements include those related to: the ability of the Company and Saltchuk to complete the transactions contemplated by the merger agreement, including the parties’ ability to satisfy the conditions to the consummation of the tender offer contemplated thereby and the other conditions set forth in the merger agreement. Because such statements deal with future events and are based on the Company’s and Saltchuk’s current expectations, they are subject to various risks and uncertainties, and actual results could differ materially from those described in or implied by the statements in this communication. These forward-looking statements are subject to risks and uncertainties, including, without limitation, risks and uncertainties associated with: the timing of the tender offer and the subsequent merger; uncertainties as to how many shares of the Company will be tendered into the tender offer; the risk that competing offers or acquisition proposals will be made; the possibility that various conditions to the consummation of the tender offer and the subsequent merger may not be satisfied or waived; the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement and other risks and uncertainties affecting the Company, including those discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2024, as amended by a filing with the SEC on March 25, 2024, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings and reports that the Company makes from time to time with the SEC. Except as may be required by law, neither the Company nor Saltchuk assumes any obligation to update these forward-looking statements, which speak only as of the date they are made, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

Additional Information and Where to Find It

The tender offer for the outstanding shares of Class A common stock of the Company referenced in this communication has not yet commenced. This communication is for informational purposes only, is not a recommendation and is neither an offer to purchase nor a solicitation of an offer to sell shares of the Company or any other securities. This communication is also not a substitute for the tender offer materials that Saltchuk will file with the SEC upon commencement of the tender offer. At the time the tender offer is commenced, Saltchuk will file with the SEC a Tender Offer Statement on Schedule TO, and the Company will file with the SEC a Solicitation/Recommendation Statement on Schedule 14D-9.

THE COMPANY’S SHAREHOLDERS ARE URGED TO READ THE TENDER OFFER STATEMENT (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS), THE SOLICITATION / RECOMMENDATION STATEMENT AND ALL OTHER FILINGS MADE BY THE COMPANY AND SALTCHUK WITH THE SEC in CONNECTION WITH THE TENDER OFFER WHEN SUCH DOCUMENTS BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT SHOULD BE READ CAREFULLY BEFORE ANY DECISION IS MADE WITH RESPECT TO THE TENDER OFFER.

When filed, the Company’s stockholders and other investors can obtain the Tender Offer Statement, the Solicitation/Recommendation Statement and other filed documents for free at the SEC’s website at www.sec.gov. Copies of the documents filed with the SEC by the Company and Saltchuk will be available free of charge under “SEC Filings” on the Investors page of the Company’s website, www.osg.com. In addition, the Company’s stockholders may obtain free copies of the tender offer materials by contacting the information agent for the tender offer that will be named in the Offer to Purchase included in the Tender Offer Statement.

Contacts

Susan Allan, Overseas Shipholding Group, Inc.

(813) 209-0620

New Bedford Foss Terminal Opening to Support Offshore Wind

March 23, 2022

New Bedford, MA – The Port of New Bedford will add another base of operations and terminal logistics facility to support offshore wind projects off Massachusetts and the northeastern coast seaboard.

The former Sprague/Eversource site was selected for its proximity to offshore wind blocks located approximately 15 miles south of Martha’s Vineyard and Nantucket islands. The site will undergo redevelopment over the next year and be renamed the New Bedford Foss Marine Terminal. The terminal, slated to open in March 2023, will provide storage and laydown yards for equipment and materials, berth facilities for tug and barge operations, and host crew transfer vessel (CTV) and service operation vessel (SOV) support services. It will create new office space for project teams and a marine coordination center for technicians involved in offshore wind projects.

Foss is partnering with key local investors of New Bedford’sCannon Street Holdings LLC (CSH) to develop the 30-acre site. Andrew Saunders, local commercial offshore marine industry attorney with Cannon Street Holdings, will serve as President of the New Bedford Foss Marine Terminal.

“Today marks a big day for the Port of New Bedford and the City as a whole,” said Saunders. “The repurposing of this facility to support offshore wind has been a vision for many and it is great to see this project now begin to materialize”.  “This day was the result of a lot of support from the many key local and state government stakeholders as well as industry stakeholders and we would not have gotten to this point without this support.  Both Sprague and Eversource also helped greatly in bringing this day to reality. Thank you to all involved”.

“The New Bedford Foss Marine Terminal is perfectly situated to support offshore wind projects on the East Coast,” said Jason Childs, President and CEO of Saltchuk Marine. “We appreciate the vision of the City and Port of New Bedford and the vital role they are playing in making this project a success,“ added Childs.

New Bedford Mayor Jon Mitchell lauded the announcement. “We are thrilled to welcome Foss to the Port of New Bedford. The new terminal will solidify the Port’s status as the East Coast’s leader in offshore wind, complement our fishing industry, and create opportunities for our residents,” Mayor Mitchell said. “I congratulate Andrew Saunders and Foss’s parent, Saltchuk Marine, for their skillful and persistent effort to close this important deal.”

“Congratulations to Andrew, John and Lou at CSH and Foss for acquiring the Sprague and Eversource sites and building a marine terminal there to support the offshore wind companies. Today’s announcement of the acquisition for a new marine terminal brings New Bedford another step closer to realizing the economic and environmental benefits of the offshore wind industry and the city’s role within it. This is an exciting day for New Bedford and the SouthCoast region, and the role our city will continue to play in offshore wind development and renewable energy.” said local State representative Antonio F.D. Cabral (D – New Bedford) whose district includes the property.

“Re-dedication of this local port facility in New Bedford to provide support services for the coming Massachusetts wind renewable industry will provide jobs and economic growth while complementing the existing fishing, shipping and recreational maritime users in the harbor”, said local Representative Bill Straus (D-Mattapoisett), whose district includes both port communities of New Bedford and Fairhaven.  Rep. Straus is the House Chair of the legislature’s Transportation Committee.

“Congratulations to Foss and the City of New Bedford for continuing to build on the momentum that the emerging offshore wind industry is gaining in our community. This project is another opportunity to spur economic development in the region,” said local Representative Christopher Hendricks (D-11^th Bristol).

“The people of New Bedford should be very excited that a private company has decided to make such a huge investment in our community.  This type of private investment in our city should be an example of how important offshore wind will be to our community over the next generations.  Very proud that a native of New Bedford was able to put this all together.  Hats off to Andrew and the team at Saltchuk.” said local State Representative Christopher Markey (D-Dartmouth) of the 9^th Bristol District which includes New Bedford.

“Foss’s investment in New Bedford is a great example of how the emerging offshore wind industry, led by the Vineyard Wind 1 project, can have a meaningful impact on the community,” said Vineyard Wind CEO Klaus Moeller.  “The agreement will not only expand Foss’s operations in Massachusetts but also create opportunities for local residents. We’re proud to work with Foss and look forward to the positive effect their presence will have in the City of New Bedford.”

“We are happy that we supported Foss in its development of this terminal as we believe that this is an example of creating added value in the development of offshore wind along the Northeast US coastline. It shows that cooperation, long term relationships and trust between companies and people creates opportunities for multiple parties and leads to local job creation”, said Jan Klaassen, director of DEME Offshore US.

The seller, Sprague Massachusetts Properties, is wholly owned by Axel Johnson Inc. which is a private operating company with a mission to invest in and help grow great industry-leading businesses over the long term. Until mid-2021, Axel Johnson was the majority owner of Sprague Operating Resources with Sprague utilizing the New Bedford facility as a petroleum marketing location. In the near term, Sprague will continue to service the New Bedford petroleum market from its nearby Providence, Rhode Island distribution terminals via truck.

“We’re proud of our continued partnership with the City of New Bedford and the work that has already gone into the waterfront site over the past several years,” said Eversource Executive Vice President for Corporate Relations and Sustainability Jim Hunt. “Redeveloping the property will bring environmentally responsible economic development opportunities to the area as our region becomes a leader for offshore wind, which aligns with our work creating a more sustainable future.”

A groundbreaking ceremony will be held later this year, in conjunction with the One SouthCoast Chamber of Commerce.

Media Contacts:

Mark Grantor

206.448.5868

Andrew Saunders

508.264.6230

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ABOUT FOSS MARITIME

Founded in 1889, Seattle-based Foss Maritime offers a complete range of maritime services and project management to customers across the Pacific Rim, Europe, South America, and around the globe. Foss has one of the largest fleets of tugs and barges on the American West Coast. The company has harbor services and transportation operations in all major U.S. West Coast ports, including the Columbia and Snake River system, Hawaii, and Alaska. Foss offers worldwide marine transportation, emphasizing safety, environmental responsibility, and high-quality service. See www.foss.com for more information.

ABOUT CANNON STREET HOLDINGS

Cannon Street Holdings was established in 2021 to acquire and develop the Sprague/Eversource site into an offshore wind staging facility. Its principals are Louis A. Cabral, John A. Lees Jr., and Andrew B. Saunders. Each of the three principals are local members of the community and bring extensive experience to the project. In Early 2021, the project signed a public private partnership with the City of New Bedford which committed the development objective be focused on an offshore wind staging facility.

ABOUT SALTCHUK MARINE

The Saltchuk Marine family, with the tugboat as the center of our services, is steeped in a rich and storied history of innovation and service. With a keen use of technology, Saltchuk Marine companies: Foss Maritime, Young Brothers, Cook Inlet Tug & Barge, AmNav Maritime, and Starlight Marine continue to lead the industry in harbor services and marine transportation solutions, with safety and the environment leading our principles. Visit www.saltchukmarine.com for more information.

ABOUT EVERSOURCE

Eversource (NYSE: ES), celebrated as a national leader for its corporate citizenship, is the #1 energy company in Newsweek’s list of America’s Most Responsible Companies for 2021 and recognized as one of America’s Most JUST Companies. Celebrated as a national leader for its corporate citizenship, Eversource transmits and delivers electricity and natural gas and supplies water to 1.8 million customers throughout Massachusetts, including approximately 1.45 million electric customers in 142 communities, 635,000 gas customers in 110 communities, and 8,700 water customers in five communities. Eversource harnesses

the commitment of approximately 9,300 employees across three states to build a single, united company around the mission of safely delivering reliable energy and water with superior customer service. The #1 energy efficiency provider in the nation, the company is empowering a clean energy future in the Northeast, with nationally recognized energy efficiency solutions and successful programs to integrate new clean energy resources like solar, offshore wind, electric vehicles, and battery storage, into the electric system. For more information, please visit eversource.com, and follow us on Twitter, Facebook, Instagram, and LinkedIn. For more information on our water services, visit aquarionwater.com.