Overseas Shipholding Group, Inc. Announces Management Changes

  Overseas Shipholding Group, Inc. Announces Management Changes

Business Wire

NEW YORK -- February 11, 2013

Overseas Shipholding Group, Inc. announced today that Morten Arntzen has
resigned as President and Chief Executive Officer and as a director of the

Captain Robert Johnston will serve as the President and Chief Executive
Officer of the Company effective immediately. Mr. Johnston has been the Senior
Vice President and Head of U.S. Flag Strategic Business Unit.

“The Board thanks Morten Arntzen for his service, including during recent
challenging times,” said Michael J. Zimmerman, Chairman of the Board of
Directors of OSG. “The Board is pleased that Bob Johnston is available to lead
the company through the next stages of its Chapter 11 reorganization.”

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 performance. 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


The Abernathy MacGregor Group
Chuck Burgess, (212) 371-5999
OSG Media Hotline
(212) 578-1612
Investor Contact:
John F. Collins, Jr., (212) 578-1699
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