Overseas Shipholding Group, Inc. (OSG) is a bulk shipping company engaged primarily in the ocean transportation of crude oil and petroleum products. During the year ended December 31, 2008, the Company owned or operated a fleet of 122 vessels (aggregating 12.5 million deadweight tons and 864,800 cubic meters), of which 101 vessels operated in the international market and 21 operated in the United States Flag market. OSG's newbuilding program of owned and chartered-in vessels totaled 32 international and United States Flag vessels, bringing the Company's total operating and newbuild fleet to 154 vessels. OSG's vessel operations are organized into business units and focused on market segments each serve: crude oil, refined petroleum products, United States Flag vessels and gas. In December 2009, Overseas Shipholding Group, Inc. announced that its wholly owned subsidiary OSG Bulk Ships, Inc. acquired the remaining interest in OSG America L.P.