Overseas Shipholding Group Announces Dates for Second Quarter 2008 Earnings Release and Teleconference

A webcast of the conference call and an accompanying slide presentation will be available on Overseas Shipholding Group's website at www.osg.com in the Investor Relations Webcasts and Presentations section. The webcast will be available for 90 days.

An audio replay of the conference call will be available approximately one hour following the conclusion of the call through midnight, August 6, 2008 by calling (800) 406-7325 within the United States or (303) 590-3030 for international calls. The passcode for the audio replay is 3889005.

ABOUT OSG

Overseas Shipholding Group, Inc. (NYSE: OSG), a Dow Jones Transportation Index company, is one of the largest publicly traded tanker companies in the world. 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 and is headquartered in New York City, NY. More information is available at www.osg.com.

CONTACT

For more information contact Jennifer L. Schlueter, Vice President Corporate Communications and Investor Relations, OSG Ship Management, Inc. at (212) 578-1634 or jschlueter@osg.com.

SOURCE: Overseas Shipholding Group, Inc.

OSG Ship Management, Inc. Jennifer L. Schlueter, 212-578-1634 Vice President Corporate Communications and Investor Relations jschlueter@osg.com