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OSG Announces Sale of DHT Shares

Maritime Activity Reports, Inc.

January 24, 2007

Overseas Shipholding Group, Inc. announced the sale of 4,600,000 shares of common stock of Double Hull Tankers, Inc. in a registered public offering underwritten by Merrill Lynch & Co. OSG expects to recognize a gain from the transaction of approximately $15 million in the first quarter of 2007. After completion of the sale, OSG's beneficial ownership of DHT's common stock will be reduced from approximately 44.50% or 13,351,500 shares, to approximately 29.17%, or 8,751,500 shares. This sale was made pursuant to DHT's existing shelf registration statement. DHT will not receive any proceeds from this sale of its common stock.

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