Overseas Shipholding Group, Inc. announced that it has reached a comprehensive settlement with the United States Department of Justice regarding violations stemming from an investigation that began in 2003. Under the agreement, the Company will plead guilty to a total of 33 counts including one charge concerning an improper discharge of oil in 2002 and multiple record-keeping violations, including making false statements, obstruction and conspiracy related to such violations. The settlement concludes a multi-jurisdictional investigation that involved 12 vessels. The Company also agreed to pay a fine in the amount of $27.8 million and pay $9.2 million to designated environmental community service programs.