Overseas Shipholding Group, Inc. (NYSE:OSG) ("OSG") and International Seaways, Inc. (NYSE:INSW.WI) ("INSW") today announced they will host an investor day on Tuesday, December 6, 2016 in New York City. As previously announced, OSG plans to separate its international and domestic businesses into two independent, publicly traded companies. The spin-off is expected to be effective as of 5:00 p.m. ET on November 30, 2016. The two events will include presentations by senior management teams from Overseas Shipholding Group and International Seaways. Key Speakers for International Seaways (10:00 a.m. - 12:00 p.m.)
- Lois K. Zabrocky, President and Chief Executive
- Jeffrey D. Pribor, Senior Vice President and Chief Financial Officer
- Samuel H. Norton, President and Chief Executive U.S. Strategic Business Unit
- Rick F. Oricchio, Senior Vice President and Chief Financial Officer
Forward-Looking StatementsThis release contains forward-looking statements. In addition, the Companies may make or approve certain statements in future filings with the Securities and Exchange Commission (SEC), in press releases, or in oral or written presentations by representatives of each of the Companies. All statements other than statements of historical facts should be considered forward-looking statements. These matters or statements may relate to each of the Company's plans to issue dividends and make payments to security holders, its prospects, including statements regarding trends in the tanker and articulated tug/barge markets, and possibilities of spin-offs or certain strategic alliances and investments. Forward-looking statements are based on each of the Company's current plans, estimates and projections, and are subject to change based on a number of factors. Investors should carefully consider the risk factors outlined in more detail in the Annual Report on Form 10-K for OSG and the Registration Statement on Form 10 for INSW and in similar sections of other filings made by each of the Companies with the SEC from time to time. The Companies assume no obligation to update or revise any forward-looking statements. Forward-looking statements and written and oral forward looking statements attributable to the Companies or its representatives after the date of this release are qualified in their entirety by the cautionary statements contained in this paragraph and in other reports previously or hereafter filed by the Companies with the SEC.