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Overseas Shipholding Group Reports First Quarter 2011 Results

Stocks in this article: OSG

Fleet Information

As of March 31, 2011, OSG’s owned and operated fleet totaled 108 International Flag and U.S. Flag vessels compared with 110 at March 31, 2010. Fifty-six percent, or 61 vessels, were owned as of March 31, 2011, with the remaining vessels bareboat or time chartered-in. OSG’s newbuild program totaled 11 vessels (9 owned and 2 chartered-in) across its crude oil, product and U.S. Flag lines of business. The Company’s fleet list excludes vessels chartered-in where the duration of the charter was one year or less at inception. A detailed fleet list and updates on vessels under construction can be found in the Fleet section on www.osg.com.

  Vessels Owned   Vessels Chartered-in   Total at Mar. 31, 2011
Vessel Type Number   Weighted byOwnership Number   Weighted byOwnership Total Vessels   VesselsWeighted byOwnership   Total Dwt
Operating Fleet              
FSO 2 1.0 2 1.0 864,046
VLCC and ULCC 9 9.0 6 6.0 15 15.0 4,727,398
Suezmax 2 2.0 2 2.0 317,000
Aframax 6 6.0 4 4.0 10 10.0 1,124,506
Panamax 9 9.0 9 9.0 626,834
Lightering 2 2.0 4 3.5 6 5.5 563,663
International Flag Crude Tankers 28 27.0 16 15.5 44 42.5 8,223,447
 
LR1 2 2.0 2 2.0 4 4.0 297,374
MR (1) 14 14.0 20 20.0 34 34.0 1,626,216
International Flag Product Carriers 16 16.0 22 22.0 38 38.0 1,923,590
Car Carrier 1 1.0 1 1.0 16,101
Total Int’l Flag Operating Fleet 45 44.0 38 37.5 83 81.5 10,163,138
               
Handysize Product Carriers (2) 2 2.0 9 9.0 11 11.0 514,808
Clean ATBs (3) 7 7.0 7 7.0 195,616
Lightering ATBs 3 3.0 3 3.0 130,066
Total U.S. Flag Operating Fleet 12 12.0 9 9.0 21 21.0 840,490
               
LNG Fleet 4 2.0 4 2.0 864,800 cbm
Total Operating Fleet 11,003,628
61 58.0 47 46.5 108 104.5 864,800 cbm
Newbuild/Conversion Fleet              
 
International Flag
VLCC 2 2.0 2 2.0 596,000
Aframax 2 2.0 2 2.0 226,000
LR1 2 2.0 2 2.0 147,000
MR 2 2.0 2 2.0 100,000
Chemical Tanker 1 1.0 1 1.0 19,900
U.S. Flag
Product Carrier 1 1.0 1 1.0 46,815
Lightering ATB 1 1.0 1 1.0 45,556
Total Newbuild Fleet 9 9.0 2 2.0 11 11.0 1,181,271
Total Operating & Newbuild Fleet 12,184,899
70 67.0 49 48.5 119 115.5 864,800 cbm

1 Includes two owned U.S. Flag product carriers that trade internationally with associated revenue included in the Product Carriers segment 2 Includes two shuttle tankers, the Overseas Cascade and the Overseas Chinook 3 Includes the OSG 214, which was in lay up at March 31, 2011



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