Overseas Shipholding posts $24.37 million of January operating income

By Kali Hays

New York, March 14 - Overseas Shipholding Group Inc. posted operating income of $24.37 million for January on shipping revenue of $106.76 million, according to its monthly operating report filed with the Securities and Exchange Commission.

Those numbers compare to $9.07 million of operating income reported for December on shipping revenue of $98.4 million.

Net income for January was $19.59 million, a marked improvement from the $55.49 million net loss reported for December.

The company also reported cash and cash equivalents of $607.65 million as of Jan. 31, up from $601.93 million at the end of December.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.