Mr. Morten Arntzen Named Connecticut Maritime Association 2007 Commodore

Published Jan 4, 2007 12:01 AM by The Maritime Executive

Wednesday, January 3, 2007 - Stamford, Connecticut: Mr. Morten Arntzen, President & CEO of Overseas Shipholding Group, Inc. (OSG), has been named this week as the Connecticut Maritime Association (CMA) Commodore for the year 2007. Mr. Arntzen follows a long succession of influential maritime industry leaders as Commodore. The Award will be presented to Mr. Arntzen on March 21, 2007 at the Gala Dinner marking the conclusion of the annual Connecticut Maritime Association conference and trade exposition. The Award is given each year to a person in the international maritime industry who has contributed to the growth and development of the industry. Mr. Arntzen has been involved in the global shipping industry since 1979 and was appointed President and Chief Executive Officer of Overseas Shipholding Group, Inc. in January 2004. Before joining OSG, he was Chief Executive Officer of American Marine Advisors, Inc. (AMA), a U.S.-based merchant banking firm specializing in maritime industry merger and acquisition advisory work and corporate restructuring for a global client base. Prior to his work at AMA, he ran the Global Transportation Group for Chase Manhattan Bank (Chase), which held a $5 billion shipping portfolio. Chase pioneered the introduction of shipping companies to the high yield market and under Mr. Arntzen, was the largest arranger of shipping loans in the world. Mr. Arntzen held the same position at Chemical Bank before it merged with Chase. Mr. Arntzen set up and ran the Global Shipping Group for Manufacturers Hanover Trust Company. Mr. Arntzen is a Board member of The Seamen’s Church Institute of New York and New Jersey and is active with the American Bureau of Shipping and the American Maritime Association. Mr. Arntzen is Presiding Director of Chiquita Brands International, Inc., where he is Chairman of the Nominating and Governance Committee and a member of the Audit Committee. He holds a bachelor of arts degree from Ohio Wesleyan University and a master of international affairs degree from Columbia University. He has been an OSG Board member since 2004. Overseas Shipholding Group, Inc (NYSE: OSG) is one of the largest publicly traded tanker companies in the world with a combined owned, operated and newbuild fleet of 136 vessels aggregating 13.5 million dwt and 865,000 cbm, as of today. As a market leader in global energy transportation services for crude oil and petroleum products in the U.S. and International Flag markets, OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the world’s most customer-focused marine transportation companies, with offices in Athens, London, Manila, Montreal, Newcastle, New York City, Philadelphia, Singapore and Tampa. More information is available at www.osg.com. Peter Drakos, President of the CMA, upon making the announcement stated, “We are extremely fortunate to have had some of the industry's most distinguished and accomplished shipowners accept our annual Award, beginning with our first Commodore Ole Skaarup. With the Board's choice this year of Morten Arntzen we continue the tradition of recognizing excellence. While the Award is presented to Mr. Arntzen it reflects the CMA Board's acknowledgement that OSG and its entire team have committed themselves to building an industry leading business. Over the years the CMA has celebrated the vision and energy of the shipping industry from around the world, and we are delighted to do so again with Morten Arntzen and OSG." Former Commodores include: Ole Skaarup, Jacob Stolt-Nielsen, George Livanos, Phil Loree, Thomas Moran, Gregory Hadjieleftheriadis, Helmut Sohmen, Gerhard Kurz, William O’Neil, Richard du Moulin, Per Heidenreich, Mark Saverys, Frank Tsao, Stelios Haji-Ioannou, Peter Georgiopoulos, C. Sean Day and Torben Jensen. Mr. Torben G. Jensen will present the 2007 Commodore Award to Mr. Arntzen at the March 21 Dinner at the Westin Hotel in Stamford, Connecticut. For more information on CMA Shipping 2007 contact: Lorraine Parsons, Event Director, Tel: +1.203.406.0109 Ext 3717 Fax: +1.203.406.0110 Email: [email protected] Web: www.shipping2007.com