NEW YORK, Dec. 6, 2006 (PRIME NEWSWIRE) -- Overseas Shipholding Group, Inc. (NYSE:OSG), a market leader providing energy transportation services, today announced plans to withdraw the listing of its common stock from NYSE Arca, Inc., formerly the Pacific Stock Exchange. OSG's common stock will continue to be listed on the New York Stock Exchange ("NYSE").
OSG has decided to withdraw its listing from NYSE Arca, Inc. because following the NYSE Group, Inc.'s recent merger with Archipelago Holdings, the parent company of NYSE Arca, Inc., each of OSG, NYSE Arca, Inc. and the NYSE have concluded that dual listing offers no benefit with respect to trading quality and service, and NYSE Arca, Inc. has substantially increased its annual listing fee effective as of January 1, 2007. The withdrawal is expected to be effective prior to the end of the year.
NYSE Arca, Inc. will continue to trade OSG's stock on an unlisted trading privilege basis.
About OSG
Overseas Shipholding Group, Inc. (NYSE:OSG) is one of the largest publicly traded tanker companies in the world with a combined owned, operated and newbuild fleet of 136 vessels aggregating 13.5 million dwt and 865,000 cbm, as of today. 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, with offices in Athens, London, Manila, Montreal, Newcastle, New York City, Philadelphia, Singapore and Tampa. More information is available at www.osg.com.