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OSG Orders Four Product Carriers.



Addition of Long-range Coated Panamax Tankers Broadens Service Offering to Customers

NEW YORK -- Overseas Shipholding Group Overseas Shipholding Group, Inc. (OSG) is the second largest oil tanker company in the world.

OSG has offices in Athens, London, Manila, Newcastle, New York and Singapore with more than 3200 sea and shore-based employees.
, Inc. (NYSE NYSE

See: New York Stock Exchange
:OSG OSG Open Scene Graph
OSG Open Science Grid
OSG Office of the Secretary-General (United Nations)
OSG Open Systems Group
OSG Office of the Surgeon General (HHS - PHS) 
) announced today that it will build four 73,500 dwt coated Panamax product carriers, or LR1 tankers, at the SPP (1) (Scalable Parallel Processor) A multiprocessing computer that can be upgraded by adding more CPUs.

(2) (Standard Parallel Port) The Centronics parallel port that was used on the first PCs.
 Plant and Shipbuilding Co. Ltd. based in Tong Yang, South Korea. The vessels are scheduled for delivery in 2010 and 2011.

As product trades continue to shift and globalize, OSG is enhancing its fleet of larger size product carriers in order to better service its customer base. Larger size product carriers are more economical for customers, are a more flexible vessel and augment the Company's diverse fleet of crude oil tankers, medium- and long-range product carriers and liquefied natural gas liquefied natural gas: see under natural gas.
Liquefied natural gas (LNG)

A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents.
 (LNG) vessels.

The new vessels bring OSG's total fleet to 147 vessels, of which 107 are operating and an additional 40 vessels are slated for delivery between 2007 and 2011.

ABOUT OSG

Overseas Shipholding Group, Inc. (NYSE: OSG) 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, with offices in Athens, Houston, London, Manila, Montreal, Newcastle, New York City New York City: see New York, city.
New York City

City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S.
, Philadelphia, Singapore and Tampa. More information is available at www.osg.com.
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Publication:Business Wire
Date:Aug 30, 2007
Words:245
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