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Overseas Shipholding Group Q4 Adj. EBITDA Declines - Quick Facts

Overseas Shipholding Group, Inc. (OSG) reported a fourth quarter net loss of $844 thousand, or $0.01 per share, compared to net income of $11.0 million, or $0.12 per share, a year ago. Adjusted EBITDA was $20.5 million, down 39.1% from prior year, driven primarily by the decrease in TCE revenues.

Fourth quarter shipping revenues were $97.5 million, down 0.9% from a year ago. TCE revenues were $86.1 million, a decrease of 8.2%.

Shares of Overseas Shipholding Group were up 3% in pre-market trade on Wednesday.

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