Overseas Shipholding posts $5.66 million of November operating income

By Caroline Salls

Pittsburgh, Jan. 15 - Overseas Shipholding Group, Inc. posted operating income of $5.66 million for November on shipping revenue of $85.98 million, according to its monthly operating report filed Wednesday with the Securities and Exchange Commission.

In comparison, Overseas Shipholding reported $3.91 million of operating income for October on shipping revenue of $88.72 million.

The net loss for November was $9.93 million, widening from a $1.85 million October net loss.

The company also reported cash and cash equivalents of $582.85 million as of Nov. 30, up from $581.73 million at the end of October.

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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