Overseas Shipholding Group Announces the Release of Its 2020 Sustainability Report

Overseas Shipholding Group, Inc. (NYSE: OSG) (the "Company" or "OSG") today announced that it has published its Sustainability Report for the fiscal year ended December 31, 2020. The report includes information relating to the Company's efforts on environmental, social, and corporate governance practices over the years and specifically during 2020. The Sustainability Report can be found on the Company's website at www.osg.com/safety-environment.

Anja Manuel, Chair of the Corporate Governance and Risk Assessment Committee of OSG's Board of Directors, stated, "We are excited to introduce OSG's first ever Sustainability Report for 2020 ? an effort that involved all of OSG to provide our stakeholders a comprehensive view of the Company's environmental, social, and corporate governance performance."

She added, "OSG's executive team and the entire Board take seriously our responsibility to steadily improve the Company's practices as they relate to environmental stewardship, social responsibility, and corporate governance. We look forward to building on this excellent start."

For more information, please visit the Company's wesite at www.osg.com.

About Overseas Shipholding Group, Inc

Overseas Shipholding Group, Inc. (NYSE: OSG) is a publicly traded company providing energy transportation services for crude oil and petroleum products in the U.S. Flag markets. OSG is a major operator of tankers and ATBs in the Jones Act industry. OSG's 22 vessel U.S. Flag fleet consists of three crude oil tankers doing business in Alaska, two conventional ATB, two lightering ATBs, three shuttle tankers, ten MR tankers, and two non-Jones Act MR tankers that participate in the U.S. Maritime Security Program. OSG also currently owns and operates two Marshall Islands flagged MR tankers which trade internationally.

OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world's most customer-focused marine transportation companies and is headquartered in Tampa, FL. More information is available at www.osg.com.