Overseas Shipholding Group posts $3.79 million of May operating income

By Caroline Salls

Pittsburgh, July 15 - Overseas Shipholding Group, Inc. reported $3.79 million of operating income for May on $79 million of shipping revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

The figures showed improvement over the $3.29 million operating loss posted for April on $70.59 million of shipping revenues.

The company had $573.66 million of cash and cash equivalents as of May 31, up from $564.81 million at the end of April.

Overseas Shipholding, a New York-based tanker company, filed for bankruptcy on Nov. 14, 2012. Its Chapter 11 case number is 12-20000.

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