Overseas Shipholding Group, Inc. (OSG) is a tanker company engaged primarily in the ocean transportation of crude oil and petroleum products. As of December 31, 2011, the Company owned or operated a fleet of 111 double-hulled vessels (aggregating 10.9 million deadweight tons and 864,800 cubic meters) of which 89 vessels operated in the international market and 22 operated in the United States Flag market. OSG�s new building program of owned and chartered-in vessels totaled five International Flag vessels, bringing the Company�s total owned, operated and new build fleet to 116 double-hulled vessels. The Company�s vessel operations are organized into strategic business units and focused on market segments: crude oil, refined petroleum products and the United States Flag. On November 14, 2012, the Company filed a petition with the United States Bankruptcy Court for the District of Delaware for relief under Chapter 11 of the United States Bankruptcy Code.