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International Shipholding Corporation Announces Commencement Of Common Stock Offering

International Shipholding Corporation (NYSE: ISH) today announced that it intends, subject to market conditions, to offer and sell up to $40,000,000 of its common shares in an underwritten public offering. ISH further intends to grant the underwriters a 30-day option to purchase additional shares of its common shares to cover over-allotments, if any. The actual amount of shares sold will depend on market conditions.

ISH intends to use the net proceeds from the offering for general corporate purposes including, but not limited to, using a portion of such net proceeds in connection with its pending acquisition of U.S. United Ocean Services, LLC (“UOS”). However, ISH currently expects to fund the UOS acquisition price and related transaction expenses through alternative financing sources.

The underwriters for the offering are BB&T Capital Markets, a division of Scott & Stringfellow, LLC, and DNB Markets, Inc. The offering is being made under ISH’s shelf registration statement filed with the Securities and Exchange Commission on October 27, 2010. This press release is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful. Any offers of the shares of common stock described in this press release will be made exclusively by means of a prospectus supplement and an accompanying prospectus.

ISH has filed with the Securities and Exchange Commission a preliminary prospectus supplement and accompanying prospectus relating to this offering. Copies of the preliminary prospectus supplement and accompanying prospectus may be obtained by contacting BB&T Capital Markets, 901 East Byrd Street, Suite 300, Richmond, Virginia 23219, Telephone: (804) 780-3228, or DNB Markets, Inc., 200 Park Avenue, 31st Floor, New York, New York, 10166, Telephone: (212) 551-9856.

About International Shipholding Corporation

International Shipholding Corporation, through its subsidiaries, operates a diversified fleet of U.S. and international flag vessels that provide worldwide and domestic maritime transportation services to commercial and governmental customers primarily under medium to long-term charters and contracts.

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