Overseas Shipholding Group, Inc. Announces SEC Filings

Overseas Shipholding Group, Inc. (the “Company”) announced today that it has filed with the Securities and Exchange Commission its annual report on Form 10-K for the year ended December 31, 2012 and its quarterly report on Form 10-Q for the quarter ending September 30, 2012. The filings include restated financial statements for years 2010 and 2011 and for the quarters ended March 31 and June 30, 2012, as well as adjustments for years starting in 2000. These restated financial statements and adjustments resulted from tax issues involving Section 956 of the Internal Revenue Code and the interpretation of certain provisions contained in the Company's credit agreements identified in the Company's current report on Form 8-K filed on October 22, 2012, as well as certain other tax and other matters.

ABOUT OSG

Overseas Shipholding Group, Inc. is one of the largest publicly traded tanker companies in the world. As a market leader in global energy transportation services for crude oil and petroleum products in the U.S. and International Flag markets, 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 New York City, NY. More information is available at www.osg.com.