Overseas Shipholding Group appoints Capt. Ian T. Blackley as President and Chief Executive Officer

New York, January 21, 2015 (STAT):-Overseas Shipholding Group, Inc. announced the appointment of Captain Ian T. Blackley as President and Chief Executive Officer, effective immediately. Most recently, Captain Blackley served as Executive Vice President and Chief Operating Officer of the Company, and he previously served as its Chief Financial Officer.

“Captain Blackley is a veteran of the shipping industry and has been instrumental in the success of OSG during his 24-year tenure at the Company,” said Doug Wheat, Chairman of the Board of OSG. “He is a skilled operational, technical and financial manager, and the Board is confident that Captain Blackley will continue to execute on the Company’s strategic vision, provide the highest quality service to our customers and deliver value for our shareholders.” Doug Wheat further commented that the Board searched and interviewed extensively for the CEO position and after consideration of the attributes necessary to lead the Company, determined that Captain Blackley had the best overall experience and knowledge of the shipping business and OSG to lead the Company.

“I am honored and privileged to serve as President and CEO of OSG at this time in our history, and I am excited to build upon the Company’s new momentum and success,” Captain Blackley said. “I look forward to our next phase of growth, as a leading Company in the maritime industry, and to our full return to the capital markets as a publicly traded company.”