Overseas Shipholding Group Announces Organizational Changes

NEW YORK--(BUSINESS WIRE)-- Overseas Shipholding Group, Inc. (NYSE: OSG), a market leader providing global energy transportation services, today made certain organizational announcements.

OSG will move commercial management of its liquefied natural gas (LNG) carrier fleet, which had been managed as a standalone business unit, to the Company’s International Product Carrier and Gas strategic business unit, headed by Lois K. Zabrocky, Senior Vice President. The move reflects OSG’s focus on its three core segments - crude oil, products and U.S. Flag - while ensuring that the LNG business is optimally managed. Marc La Monte, Head of the Company’s Gas strategic business unit, has left OSG to assume a position outside the company. Technical management of the LNG fleet remains under Captain Ian T. Blackley, Senior Vice President and Head of International Shipping Operations.

OSG also announced that Christian Skovhoj, 36, Worldwide Head of Sale and Purchase at OSG Ship Management, Inc., has been appointed vice president of such company. Mr. Skovhoj joined OSG in 2006 as manager of sale and purchase and was promoted to head the department in 2008. In this role he is responsible for identifying, evaluating and executing vessel purchases and sales for the Company’s International and U.S. Flag fleets. Mr. Skovhoj’s shipping career began in 1998 with A.P. Moller – Maersk A/S and from 2000 to 2006 he was a newbuilding and sale and purchase broker with Maersk Broker K/S successively based in Copenhagen, Tokyo and New York. Mr. Skovhoj holds a higher commercial degree from the Helsingor Business School of Denmark and reports to Morten Arntzen, President and CEO of OSG.

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, petroleum products and gas 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 http://www.osg.com.