OSG Appoints New VP of Corporate Finance


NEW YORK, Nov. 3, 2005 (PRIMEZONE) -- Overseas Shipholding Group, Inc. (NYSE:OSG) today announced that Henry Flinter was appointed Vice President, Corporate Finance of OSG Ship Management, Inc., a newly created position reporting to Myles Itkin, Chief Financial Officer.

Mr. Flinter, 41, will have oversight of treasury, corporate finance and capital market transactions and has nearly 20 years' experience in senior finance and accounting positions. He joined OSG in 2002 as Assistant Vice President, Accounting and in January 2005 was promoted to Vice President, Accounting. From 1991 to 2001 Mr. Flinter was employed with Ernst & Young and began his career in accounting at VNU N.V., a major information and media company.

Mr. Flinter holds a Bachelor of Arts degree from Gettysburg College, a Masters of Business Administration from New York University and is a Certified Public Accountant (NY).

About OSG

Overseas Shipholding Group, Inc. (OSG) is a market leader in global energy transportation services. The Company owns and operates International Flag and U.S. Flag fleets that transport crude oil, petroleum products and dry bulk commodities throughout the world. The Company's modern fleet comprises 92 vessels aggregating 11.9 million deadweight tons. Organized in 1969 and headquartered in New York, New York, OSG also has offices in Athens, London, Manila, Newcastle and Singapore. More information about OSG is available at the Company's web site at http://www.osg.com.



            

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