OREANDA-NEWS. Overseas Shipholding Group, Inc. (NYSE MKT: OSG, OSGB) (the “Company” or “OSG”) today announced the extension of the previously announced tender offer (the “Tender Offer”) for any and all of its 7.50% Senior Notes due 2024 (the “Notes”) and the solicitation of consents (“Consents”) from registered holders of the Notes (the “Consent Solicitation”) to amend the indenture governing the Notes to affirm that for the purposes of the restriction in such indenture on the Company’s ability to dispose of assets, the Company’s international operations, held through its subsidiary OSG International, Inc., do not constitute substantially an entirety of the Company’s assets.

The Tender Offer and the Consent Solicitation have been extended by ten days until 11:59 p.m., New York City time, on January 14, 2016. The Tender Offer and the Consent Solicitation were previously scheduled to expire at 11:59 p.m., New York City time, on January 4, 2016. Except as described herein, the terms of the Tender Offer and the Consent Solicitation remain unchanged.

The terms and conditions of the Tender Offer and the Consent Solicitation are described in the Company’s Offer to Purchase and Consent Solicitation Statement, dated December 2, 2015 (the “Statement”), and the Letter of Transmittal and Consent attached thereto, which set forth the complete terms of the Tender Offer and Consent Solicitation.

As of 11:59 p.m., New York City time, on January 4, 2016, $204,000 in aggregate principal amount, or approximately 29.82%, of the Notes outstanding, excluding any outstanding Notes held by the Company or its affiliates, has been validly tendered and not validly withdrawn. As of such time, holders of an additional $2,000 in aggregate principal amount, or approximately 0.29%, of the Notes outstanding, excluding any outstanding Notes held by the Company or its affiliates, have provided Consents that have been validly delivered and not validly revoked in the Consent Only Option (as defined in the Statement).