osg-logo
Back to list

Nov 17, 2016

Overseas Shipholding Group and International Seaways to Host Investor Day

NEW YORK –
Overseas Shipholding Group, Inc. (NYSE:OSG) (“OSG”) and International
Seaways, Inc. (NYSE:INSW.WI) (“INSW”) today announced they will host an
investor day on Tuesday, December 6, 2016 in New York City. As
previously announced, OSG plans to separate its international and
domestic businesses into two independent, publicly traded companies. The
spin-off is expected to be effective as of 5:00 p.m. ET on November 30,
2016.

The two events will include presentations by senior management teams
from Overseas Shipholding Group and International Seaways.

Key Speakers for International Seaways (10:00 a.m. – 12:00 p.m.)

  • Lois K. Zabrocky, President and Chief Executive
  • Jeffrey D. Pribor, Senior Vice President and Chief Financial Officer

Key Speakers for Overseas Shipholding Group (1:00 p.m. – 3:00 p.m.)

  • Samuel H. Norton, President and Chief Executive U.S. Strategic
    Business Unit
  • Rick F. Oricchio, Senior Vice President and Chief Financial Officer

Institutional investors and analysts interested in attending the event
should register through http://www.irevents.com/investorday-osg-insw/2016/
or contact Daniela Guerrero of Capital Link at +1-212-661-7566 or e-mail osg@capitallink.com.

A live webcast of both presentations will be available from the Investor
Relations section of the OSG website at http://www.osg.com/.

About Overseas Shipholding Group, Inc.

Overseas Shipholding Group, Inc. (NYSE:OSG) is currently a publicly
traded tanker company providing 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 and is
currently headquartered in New York City, NY.

The previously announced spin-off of its International Flag business is
expected to be effective on November 30, 2016. After the spin-off, OSG
will consist of the currently existing U.S. Flag business, which is a
major operator of tankers and ATBs in the Jones Act industry. OSG’s
24-vessel U.S. Flag fleet consists of eight ATBs, two lightering ATBs,
three shuttle tankers, nine MR tankers, and two non-Jones Act MR tankers
that participate in the U.S. Maritime Security Program. OSG will be
headquartered in Tampa, FL. More information is available at www.osg.com.

About International Seaways, Inc.

After the spin-off, International Seaways, Inc. (NYSE:INSW.WI) will be
one of the largest tanker companies worldwide providing energy
transportation services for crude oil and petroleum products in
International Flag markets. International Seaways owns and operates a
fleet of 55 vessels, including one ULCC, eight VLCCs, eight
Aframaxes/LR2s, 12 Panamaxes/LR1s and 20 MR tankers. Through joint
venture partnerships, it has ownership interests in four liquefied
natural gas carriers and two floating storage and offloading service
vessels. International Seaways has an experienced team committed to the
very best operating practices and the highest levels of customer service
and operational efficiency. International Seaways will be headquartered
in New York City, NY.

Forward-Looking Statements

This release contains forward-looking statements. In addition, the
Companies may make or approve certain statements in future filings with
the Securities and Exchange Commission (SEC), in press releases, or in
oral or written presentations by representatives of each of the
Companies. All statements other than statements of historical facts
should be considered forward-looking statements. These matters or
statements may relate to each of the Company’s plans to issue dividends
and make payments to security holders, its prospects, including
statements regarding trends in the tanker and articulated tug/barge
markets, and possibilities of spin-offs or certain strategic alliances
and investments. Forward-looking statements are based on each of the
Company’s current plans, estimates and projections, and are subject to
change based on a number of factors. Investors should carefully consider
the risk factors outlined in more detail in the Annual Report on Form
10-K for OSG and the Registration Statement on Form 10 for INSW and in
similar sections of other filings made by each of the Companies with the
SEC from time to time. The Companies assume no obligation to update or
revise any forward-looking statements. Forward-looking statements and
written and oral forward looking statements attributable to the
Companies or its representatives after the date of this release are
qualified in their entirety by the cautionary statements contained in
this paragraph and in other reports previously or hereafter filed by the
Companies with the SEC.

Investor Relations & Media:
Overseas Shipholding Group,
Inc.
Brian Tanner, 212-578-1645
btanner@osg.com