TAMPA, Fla. – Overseas Shipholding Group, Inc. (the “Company” or “OSG”) continues to promote women to receive training to enter the maritime industry with a three-year pledge in the amount of $90,000 to the Massachusetts Maritime Academy. OSG’s pledge will go to undergraduate and sea term scholarships and sponsorship of the Academy’s Women’s Network and Sea, Science and Leadership Career Exploration Program. Scholarship recipients will have ongoing interaction with OSG and the opportunity to become familiar with OSG’s business and fleet of vessels. The OSG Scholarship Program is intended to ease the financial burdens as well as encourage young women seeking opportunities to enter an industry that offers a non-traditional workplace and opportunity for growth.

“We are grateful for the generosity of Overseas Shipholding Group, Inc. in their commitment to establishing an OSG Scholarship Program at Massachusetts Maritime Academy,” said Rear Admiral Francis X. McDonald, USMS, President of Massachusetts Maritime Academy. “We are focused on creating more access for women and people in regions who may not be aware of the opportunities offered by a career in the maritime industry. The OSG Scholarship Program will help us advance this goal, by providing more opportunities for more people at every level in the maritime industry, whether through undergraduate and sea term scholarships, sponsorship of our annual Women’s Network Event, and support of our Sea, Science, and Leadership/Maritime Career Exploration Program, geared toward high school students.”

“OSG has a vision to contribute to the efforts of making life at sea a more realizable opportunity for young women. This new partnership with Massachusetts Maritime Academy builds upon the momentum we have established previously to provide support for women in the industry,” says Sam Norton, OSG’s President and CEO. He added, “As a leading U.S.-flagged shipowner, OSG believes it is our responsibility to promote the longevity and sustainability of the maritime industry with programs such as the OSG Scholarship Program aimed at increasing the presence of women at sea.”

The scholarships will promote a variety of financial aid efforts offered by Massachusetts Maritime Academy. Eligible recipients, which include current academy students, high school students, and alumni, are encouraged to apply. More information on the scholarships will be made available on the Massachusetts Maritime Academy’s website at https://www.maritime.edu/financial-aid/undergraduate-aid/awards.

About Overseas Shipholding Group, Inc

Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing liquid bulk transportation services in the energy industry for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator in the Jones Act industry and in the Tanker Security Program. OSG’s U.S. Flag fleet consists of Suezmax crude oil tankers doing business in Alaska, conventional and lightering ATBs, shuttle and conventional MR tankers, and non-Jones Act MR tankers that participate in the U.S. Tanker Security Program.

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 headquartered in Tampa, FL.

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Investor Relations & Media Contact:

Susan Allan, Overseas Shipholding Group, Inc.

(813) 209-0620

sallan@osg.com