Overseas Shipholding posts $5.03 million operating income in September

By Jim Witters

Wilmington, Del., Nov. 15 - Overseas Shipholding Group, Inc. posted operating income of $5.03 million for September on shipping revenue of $111.69 million, according to the company's monthly operating report filed Nov. 15 with the U.S. Bankruptcy Court for the District of Delaware.

Those figures compare to operating income of $5.6 million for August on shipping revenue of $77.75 million.

The net loss for September was $1.38 million, compared to $1.35 million in August.

The company also reported cash and cash equivalents of $477.97 million as of Sept. 30, compared to $478 million at the end of August.

Overseas Shipholding, a New York-based tanker company, filed for bankruptcy on Nov. 14, 2012 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 12-20000.

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