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V.Ships to Take Over OSG's International Shipping

Overseas Shipholding Group, Inc. (OSG) today announced that it intends to outsource the technical management of its international flag shipping business to V.Ships, a third-party ship manager. The outsourcing contract with V.Ships is subject to the approval of the bankruptcy court, which will be sought today and will be heard on February 3, 2014. The company’s U.S. flag business will continue with its current strategy and will continue to be headquartered in Tampa, Fla.