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Overseas Shipholding Completes Financing

Maritime Activity Reports, Inc.

August 24, 1999

Overseas Shipholding Group, Inc. has reportedly completed a $170 million financing related to its U.S. flag Alaskan tanker fleet. The financing represents a securitization of the receivables arising from the charters of five of its U.S. flag crude vessels to Alaska Tanker Company.

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