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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
75208	Overseas Shipholding Group Inc	OV6:GR	Deep Sea Foreign Transportation Of Freight (4412)	132637623

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1427430	Bluemountain Capital Management, Llc	280 Park Avenue, 12Th Floor New York NY 10017		No	No	Yes	No
1546863	Bluemountain Long/Short Credit & Distressed Reflection Fund, A Sub Fund Of Aai Bluemountain Fund Plc	280 Park Avenue 12Th Floor New York NY 10017		No	No	Yes	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Class A Common Stock	Disposition	2014-11-26	175,054	$2.98	0	No	4	S	Direct
Class A Common Stock	Disposition	2014-11-26	175,054	$2.98	56,775,644	No	4	S	Indirect	See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct
No	4	S	Indirect	See Footnotes

Reported Derivative Transactions

Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Class A Common Stock	Warrants	Disposition	2014-11-26	524,294	$2.98	524,294	$0.01
Class A Common Stock	Warrants	Disposition	2014-11-26	524,294	$2.98	524,294	$0.01

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
0		2039-08-05	No	4	S	Direct
0		2039-08-05	No	4	S	Indirect

Footnotes

The filing of this Form 4 shall not be construed as an admission that BlueMountain Capital Management, LLC ("BMCM") is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise the beneficial owner of any of the shares of Class A Common Stock, par value $0.01 per share (the "Common Stock") of Overseas Shipholding Group, Inc. (the "Issuer") or any warrants to purchase Common Stock (the "Warrants"). Pursuant to Rule 16a-1(a)(4) of the Exchange Act, BMCM disclaims such beneficial ownership, except to the extent of its pecuniary interest.
BMCM is the investment manager of BlueMountain Long/Short Credit & Distressed Reflection Fund, a sub fund of AAI BlueMountain Fund plc ("AAI"), which is the direct beneficial owner of the Common Stock and Warrants reported on this Form 4.
BMCM, although it directs the voting and disposition of the Common Stock and Warrants held by AAI, only receives an asset-based and performance-based fee relating to the Shares and Warrants held by AAI.
The Warrants may be exercised only with the Issuer's consent and subject to certain restrictions set forth in the Issuer's organizational documents.
The Reporting Persons are jointly filing this Form 4 pursuant to Rule 16(a)-3(j) under the Exchange Act.