Overseas Shipholding Group Appoints New Head of Investor Relations

Overseas Shipholding Group, Inc. (NYSE: OSG), a market leader in providing energy transportation services, today announced the appointment of John F. Collins, Jr. to lead the Company’s investor relations program. In his new position as Vice President, Investor Relations, he reports to Myles Itkin, Chief Financial Officer. Mr. Collins is based in New York and assumes investor relations responsibilities from Jennifer Schlueter, who is moving to Hong Kong.

Morten Arntzen, President and CEO of OSG stated, "John brings a wealth of experience to his new role in investor relations, an area of strategic importance to OSG. In addition to his broad expertise in finance issues, he knows the operational aspects of our business very well. John has the ideal background to continue to advance our IR function, and I look forward to working with him to build on the excellent track record Jennifer has achieved. Under Jennifer’s leadership, investor relations expanded significantly and we enhanced our transparency, disclosures and investor communications programs and materials. We wish her well in her new adventure in Hong Kong.”

As a member of OSG’s Corporate Development staff since 2004, Mr. Collins has participated in many corporate finance transactions, including the initial public offerings of DHT Maritime, Inc. and OSG America, L.P., as well as numerous equity, note issuances and bank financings. Mr. Collins joined OSG's Treasury department in 1987 as Treasury Analyst, assuming progressive management responsibility for a broad range of finance-related functions, with a particular emphasis on investment portfolio management and research. Between 2002 and 2004, Mr. Collins served as a partner in a fund of hedge funds.

Mr. Collins entered the maritime industry in 1980, sailing as third mate on a number of U.S. Flag merchant vessels through 1985. He holds a bachelor of science degree in marine transportation from Texas A&M University at Galveston and a master of business administration degree from New York University.

Helen Harris, Communications Manager, will continue to have responsibility for corporate communications, including media relations. Ms. Harris is based in Tampa.

About OSG

Overseas Shipholding Group, Inc. (NYSE: OSG), a Dow Jones Transportation Index company, 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.