NEW YORK, Nov. 8, 2005 (PRIMEZONE) -- Overseas Shipholding Group, Inc. (NYSE:OSG) today announced that Myles Itkin, Chief Financial Officer, will present at the Bank of America Energy Conference at 2:00 p.m. ET on Monday, November 14, 2005. The conference will be held at the Boca Raton Resort & Club, in Boca Raton, Florida.
The presentation is designed to provide conference attendees with an overview of the Company and its fiscal 2005 year-to-date financial performance. For the nine months ended September 30, 2005, OSG reported net income of $351.1 million, an increase of 85% over $190.1 million for the same period a year earlier. Time charter equivalent revenues for the first nine months of 2005 increased by 34% to $690.5 million compared with $513.9 million for the first nine months of 2004.
A live webcast of the conference presentation will be available on the Company's website at http://www.osg.com under events and webcasts in the investor relations section. The webcast replay of the presentation will be available from November 14, 2005 through December 2, 2005.
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 is comprised of 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.