Overseas Shipholding Group and Maersk Oil Qatar Sign New Agreement for FSO Africa

Overseas Shipholding Group, Inc. (NYSE: OSG), a market leader providing global energy transportation services, announced today that it has signed a new service agreement with Maersk Oil Qatar AS (MOQ) for the FSO Africa, a floating storage and offloading (FSO) service vessel. The duration of the contract is for three years beginning the end of August. The rate consists of a base rate which will increase if and when more capacity and features of the FSO are requested by MOQ. The FSO Africa is jointly owned by OSG and Euronav N.V.