THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Overseas Shipholding Group, Inc. (OSG)

5/1/2006 Proxy Information

Mrs. Diane Recanati is the mother of Messrs. Oudi Recanati, a director of the Corporation, and Michael Recanati, the aunt of Mr. Ariel Recanati, a director of the Corporation, and the aunt of Mr. Leon Recanati and Mrs. Yudith Yovel Recanati, who are brother and sister.

Ariel Recanati was Senior Vice President since 1998 and Chief Strategic and Planning Officer since 1999 of Overseas Shipholding Group, Inc. until January 2003.

4/29/2005 Proxy Information

Mrs. Diane Recanati is the mother of Messrs. Oudi Recanati, a director of the Corporation, and Michael Recanati, the aunt of Mr. Ariel Recanati, a director of the Corporation, and the aunt of Mr. Leon Recanati and Mrs. Yudith Yovel Recanati, who are brother and sister.

4/28/2004 Proxy Information

Mr. Oudi Recanati is the first cousin of Mr. Ariel Recanati.

Stanley Komaroffis a Senior Partner with the law firm of Proskauer Rose LLP, the Corporation's counsel.

4/30/2003 Proxy Information

Stanley Komaroffis a Senior Partner with the law firm of Proskauer Rose LLP, the Corporation's counsel.

Mr. Ariel Recanati, former Senior Vice President, Chief Strategic and Planning Officer of Overseas Shipholding Group, Inc. is the first cousin of Mr. Oudi Recanati, director of Overseas Shipholding Group, Inc.