Waterman Steamship is a deep-sea ocean carrier that operates U.S. flag vessels in liner service and time charter contracts. Its common carrier vessel service operates between the United States and the Middle East ports transporting a variety of cargos. The company s U.S. flag-geared container ships are time chartered to a liner company. Founded in 1919, Waterman Steamship is a principal subsidiary of International Shipholding Corporation (ISC), which is a public company that is engaged in various types of waterborne cargo transportation emphasizing medium to long-term charters through its units. International Shipholding Corporation offers rail ferry, affreightment, liner and time charter contract services.