Академический Документы
Профессиональный Документы
Культура Документы
Doc 1167
Filed 04/15/13
Page 1 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 2 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 3 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 4 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 5 of 166
MOR-1 Overseas Shipholding Group, Inc. Unaudited Consolidated Statement of Cash Receipts and Disbursements For the Period February 1, 2013 through February 28, 2013 (in thousands of dollars)
Beginning Cash Balance Cash Receipts: Vessel Related Receipts Other Receipts Total Receipts Cash Disbursements: Vessel Related Disbursements 2 General and Administrative: Compensation & Benefits Other General & Administrative Taxes Restructuring Costs and Adequate Protection Payments U.S. Trustee Fees Other Disbursements Total Disbursements Ending Cash Balance
1
$ 546,638
Other Receipts includes items such as distributions from joint ventures, reimbursements from joint ventures for expenses paid on their behalf, pool commissions, insurance claim receipts and other miscellaneous refunds and receipts.
2
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 6 of 166
MOR-1a Schedule of Disbursements by Legal Entity1 For the Period February 1, 2013 through February 28, 2013
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
1
Filing Entities: Overseas Shipholding Group, Inc. OSG International, Inc. OSG Bulk Ships, Inc. 1372 Tanker Corporation Africa Tanker Corporation Alcesmar Limited Alcmar Limited Alpha Suezmax Corporation Alpha Tanker Corporation Amalia Product Corporation Ambermar Product Carrier Corporation Ambermar Tanker Corporation Andromar Limited Antigmar Limited Aqua Tanker Corporation Aquarius Tanker Corporation Ariadmar Limited Aspro Tanker Corporation Atalmar Limited Athens Product Tanker Corporation Atlas Chartering Corporation Aurora Shipping Corporation Avila Tanker Corporation Batangas Tanker Corporation Beta Aframax Corporation
Case # 12-20000 12-20001 12-20002 12-20003 12-20004 12-20005 12-20006 12-20007 12-20008 12-20009 12-20010 12-20011 12-20012 12-20013 12-20014 12-20015 12-20016 12-20017 12-20018 12-20019 12-20020 12-20021 12-20022 12-20023 12-20024
Total Disbursements $ 311,784 612,198 414,534 735,531 24,307 215,204 211,303 56,120 41 190,670 991,368 134 217,723 204,616 559 1,186,866 201,803 161 1,094,284 483,659 563,717 118,647 148 15,933 416,553
Most of the Debtors disbursements are made through centralized cash management accounts; however, the Debtors have estimated the allocation of disbursements to the legal entity on whose behalf a disbursement was made. Additionally, bankruptcy related professional fees paid by Overseas Shipholding Group, Inc. have been allocated on a pro rata basis to all debtors based on the sum of the absolute value of each debtors total assets and liabilities based on their balance sheet as of the last day of the prior month. Prior period credit adjustments applied against vendor payments that have been allocated to a specific debtor may and have resulted in negative cash disbursement amounts for certain debtors. All allocations are subject to certain assumptions and uncertainties and such allocations are not recorded in the debtors books and records.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 7 of 166
MOR-1a Schedule of Disbursements by Legal Entity1 For the Period February 1, 2013 through February 28, 2013
26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50
1
Filing Entities: Brooklyn Product Tanker Corporation Cabo Hellas Limited Cabo Sounion Limited Caribbean Tanker Corporation Carina Tanker Corporation Carl Product Corporation Concept Tanker Corporation Crown Tanker Corporation Delphina Tanker Corporation Delta Aframax Corporation DHT Ania Aframax Corp. DHT Ann VLCC Corp. DHT Cathy Aframax Corp. DHT Chris VLCC Corp. DHT Rebecca Aframax Corp. DHT Regal Unity VLCC Corp. DHT Sophie Aframax Corp. Dignity Chartering Corporation Edindun Shipping Corporation Eighth Aframax Tanker Corporation Epsilon Aframax Corporation First Chemical Carrier Corporation First LPG Tanker Corporation First Union Tanker Corporation Fourth Aframax Tanker Corporation
Case # Total Disbursements 7,901 12-20025 166,729 12-20026 205,403 12-20027 1,499 12-20028 1,015,783 12-20029 161,930 12-20030 398,570 12-20031 31 12-20032 12-20033 819,506 12-20034 143 12-20035 3,173 12-20036 22,374 12-20037 (12,472) 12-20038 217 12-20039 1,530 12-20040 1,183 12-20041 18,316 12-20042 12-20043 234,787 12-20044 768,987 12-20045 414,125 12-20046 684 12-20047 183,206 12-20048 1,439 12-20049
Most of the Debtors disbursements are made through centralized cash management accounts; however, the Debtors have estimated the allocation of disbursements to the legal entity on whose behalf a disbursement was made. Additionally, bankruptcy related professional fees paid by Overseas Shipholding Group, Inc. have been allocated on a pro rata basis to all debtors based on the sum of the absolute value of each debtors total assets and liabilities based on their balance sheet as of the last day of the prior month. Prior period credit adjustments applied against vendor payments that have been allocated to a specific debtor may and have resulted in negative cash disbursement amounts for certain debtors. All allocations are subject to certain assumptions and uncertainties and such allocations are not recorded in the debtors books and records.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 8 of 166
MOR-1a Schedule of Disbursements by Legal Entity1 For the Period February 1, 2013 through February 28, 2013
51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75
1
Filing Entities: Front President Inc. Goldmar Limited GPC Aframax Corporation Grace Chartering Corporation International Seaways, Inc. Jademar Limited Joyce Car Carrier Corporation Juneau Tanker Corporation Kimolos Tanker Corporation Kythnos Chartering Corporation Leo Tanker Corporation Leyte Product Tanker Corporation Limar Charter Corporation Luxmar Product Tanker Corporation Luxmar Tanker LLC Majestic Tankers Corporation Maple Tanker Corporation Maremar Product Tanker Corporation Maremar Tanker LLC Marilyn Vessel Corporation Maritrans General Partner Inc. Maritrans Operating Company L.P. Milos Product Tanker Corporation Mindanao Tanker Corporation Mykonos Tanker LLC
Case # Total Disbursements 1,526,655 12-20050 376,968 12-20051 917,974 12-20052 407,393 12-20053 2,233,874 12-20054 147,129 12-20055 9,308 12-20056 881 12-20057 1,118,372 12-20058 260,587 12-20059 1,073,312 12-20060 496,307 12-20061 107,784 12-20062 425,135 12-20063 11,640 12-20064 228,496 12-20065 1,535,126 12-20066 4,654 12-20067 578,260 12-20068 46 12-20069 26 12-20070 2,592 12-20071 744,956 12-20072 3,440 12-20073 1,508,296 12-20074
Most of the Debtors disbursements are made through centralized cash management accounts; however, the Debtors have estimated the allocation of disbursements to the legal entity on whose behalf a disbursement was made. Additionally, bankruptcy related professional fees paid by Overseas Shipholding Group, Inc. have been allocated on a pro rata basis to all debtors based on the sum of the absolute value of each debtors total assets and liabilities based on their balance sheet as of the last day of the prior month. Prior per iod credit adjustments applied against vendor payments that have been allocated to a specific debtor may and have resulted in negative cash disbursement amounts for certain debtors. All allocations are subject to certain assumptions and uncertainties and such allocations are not recorded in the debtors books and records.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 9 of 166
MOR-1a Schedule of Disbursements by Legal Entity1 For the Period February 1, 2013 through February 28, 2013
Filing Entities: 76 Nedimar Charter Corporation 77 Oak Tanker Corporation 78 Ocean Bulk Ships, Inc. 79 Oceania Tanker Corporation 80 OSG 192 LLC 81 OSG 209 LLC 82 OSG 214 LLC 83 OSG 215 Corporation 84 OSG 242 LLC 85 OSG 243 LLC 86 OSG 244 LLC 87 OSG 252 LLC 88 OSG 254 LLC 89 OSG 300 LLC 90 OSG 400 LLC 91 OSG America L.P. 92 OSG America LLC 93 OSG America Operating Company LLC 94 OSG Car Carriers, Inc. 95 OSG Clean Products International, Inc. 96 OSG Columbia LLC 97 OSG Constitution LLC 98 OSG Courageous LLC 99 OSG Delaware Bay Lightering LLC 100 OSG Discovery LLC
1
Case # 12-20075 12-20076 12-20077 12-20078 12-20079 12-20080 12-20081 12-20082 12-20083 12-20084 12-20085 12-20086 12-20087 12-20088 12-20089 12-20090 12-20091 12-20092 12-20093 12-20094 12-20095 12-20096 12-20097 12-20098 12-20099
Total Disbursements 65,092 1,534,298 1 155,420 59,183 33,892 140,823 12 52,887 261,947 126,157 364,577 77,160 4 1,413 4 22 279,798 666 5 183,847 273 190,757 1,692,005 88
Most of the Debtors disbursements are made through centralized cash management accounts; however, the Debtors have estimated the allocation of disbursements to the legal entity on whose behalf a disbursement was made. Additionally, bankruptcy related professional fees paid by Overseas Shipholding Group, Inc. have been allocated on a pro rata basis to all debtors based on the sum of the absolute value of each debtors total assets and liabilities based on their balance sheet as of the last day of the prior month. Prior period credit adjustments applied against vendor payments that have been allocated to a specific debtor may and have resulted in negative cash disbursement amounts for certain debtors. All allocations are subject to certain assumptions and uncertainties and such allocations are not recorded in the debtors books and records.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 10 of 166
MOR-1a Schedule of Disbursements by Legal Entity1 For the Period February 1, 2013 through February 28, 2013
101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125
1
Filing Entities: OSG Endeavor LLC OSG Endurance LLC OSG Enterprise LLC OSG Financial Corp. OSG Freedom LLC OSG Honour LLC OSG Independence LLC OSG Intrepid LLC OSG Liberty LLC OSG Lightering LLC OSG Lightering Acquisition Corporation OSG Lightering Solutions LLC OSG Mariner LLC OSG Maritrans Parent LLC OSG Navigator LLC OSG New York, Inc. OSG Product Tankers AVTC, LLC OSG Product Tankers Member LLC OSG Product Tankers II, LLC OSG Product Tankers I, LLC OSG Product Tankers, LLC OSG Quest LLC OSG Seafarer LLC OSG Ship Management, Inc. OSG Valour LLC
Case # 12-20100 12-20101 12-20102 12-20103 12-20104 12-20105 12-20106 12-20107 12-20108 12-20109 12-20110 12-20111 12-20112 12-20113 12-20114 12-20115 12-20116 12-20117 12-20118 12-20119 12-20120 12-20121 12-20122 12-20123 12-20124
Total Disbursements 16,118 184,293 187,919 988 481 169,121 285,226 230,823 980 9,952,741 193 332 16,118 10,859 185,571 2,021,160 5 0 0 0 1 8,062 66 6,596,321 108
Most of the Debtors disbursements are made through centralized cash management accounts; however, the Debtors have estimated the allocation of disbursements to the legal entity on whose behalf a disbursement was made. Additionally, bankruptcy related professional fees paid by Overseas Shipholding Group, Inc. have been allocated on a pro rata basis to all debtors based on the sum of the absolute value of each debtors total assets and liabilities based on their balance sheet as of the last day of the prior month. Prior per iod credit adjustments applied against vendor payments that have been allocated to a specific debtor may and have resulted in negative cash disbursement amounts for certain debtors. All allocations are subject to certain assumptions and uncertainties and such allocations are not recorded in the debtors books and records.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 11 of 166
MOR-1a Schedule of Disbursements by Legal Entity1 For the Period February 1, 2013 through February 28, 2013
126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150
1
Filing Entities: Overseas Allegiance Corporation Overseas Anacortes LLC Overseas Boston LLC Overseas Diligence LLC Overseas Galena Bay LLC Overseas Houston LLC Overseas Integrity LLC Overseas Long Beach LLC Overseas Los Angeles LLC Overseas Martinez LLC Overseas New Orleans LLC Overseas New York LLC Overseas Nikiski LLC Overseas Perseverance Corporation Overseas Philadelphia LLC Overseas Puget Sound LLC Overseas Sea Swift Corporation Overseas Shipping (GR) Ltd. Overseas ST Holding LLC Overseas Tampa LLC Overseas Texas City LLC Pearlmar Limited Petromar Limited Pisces Tanker Corporation Polaris Tanker Corporation
Case # 12-20125 12-20126 12-20127 12-20128 12-20129 12-20130 12-20131 12-20132 12-20133 12-20134 12-20135 12-20136 12-20137 12-20138 12-20139 12-20140 12-20141 12-20142 12-20143 12-20144 12-20145 12-20146 12-20147 12-20148 12-20149
Total Disbursements 0 1,275,110 1,286,530 39 257 1,146,928 103 1,137,423 1,128,954 1,268,509 214 1,083,841 1,246,261 37 562 11,277 1 54,300 1,082,938 1,257,694 1,186,629 180,285 298,948 1,028,466 945,765
Most of the Debtors disbursements are made through centralized cash management accounts; however, the Debtors have estimated the allocation of disbursements to the legal entity on whose behalf a disbursement was made. Additionally, bankruptcy related professional fees paid by Overseas Shipholding Group, Inc. have been allocated on a pro rata basis to all debtors based on the sum of the absolute value of each debtors total assets and liabilities based on their balance sheet as of the last day of the prior month. Prior per iod credit adjustments applied against vendor payments that have been allocated to a specific debtor may and have resulted in negative cash disbursement amounts for certain debtors. All allocations are subject to certain assumptions and uncertainties and such allocations are not recorded in the debtors books and records.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 12 of 166
MOR-1a Schedule of Disbursements by Legal Entity1 For the Period February 1, 2013 through February 28, 2013
151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175
1
Filing Entities: Queens Product Tanker Corporation Reymar Limited Rich Tanker Corporation Rimar Chartering Corporation Rosalyn Tanker Corporation Rosemar Limited Rubymar Limited Sakura Transport Corp. Samar Product Tanker Corporation Santorini Tanker LLC Serifos Tanker Corporation Seventh Aframax Tanker Corporation Shirley Tanker SRL Sifnos Tanker Corporation Silvermar Limited Sixth Aframax Tanker Corporation Skopelos Product Tanker Corporation Star Chartering Corporation Suezmax International Agencies, Inc. Talara Chartering Corporation Third United Shipping Corporation Tokyo Transport Corp. Transbulk Carriers, Inc. Troy Chartering Corporation Troy Product Corporation
Case # Total Disbursements 14,373 12-20150 414,160 12-20151 805,626 12-20152 113,886 12-20153 714,633 12-20154 169,961 12-20155 5,454 12-20156 127,675 12-20157 258,955 12-20158 1,462,082 12-20159 94,490 12-20160 160,661 12-20161 309,544 12-20162 481,218 12-20163 157,603 12-20164 181,733 12-20165 764,396 12-20166 394,095 12-20167 2,154,829 12-20168 371,571 12-20169 5,080 12-20170 291,498 12-20171 24 12-20172 370,889 12-20173 5,659 12-20174
Most of the Debtors disbursements are made through centralized cash management accounts; however, the Debtors have estimated the allocation of disbursements to the legal entity on whose behalf a disbursement was made. Additionally, bankruptcy related professional fees paid by Overseas Shipholding Group, Inc. have been allocated on a pro rata basis to all debtors based on the sum of the absolute value of each debtors total assets and liabilities based on their balance sheet as of the last day of the prior month. Prior period credit adjustments applied against vendor payments that have been allocated to a specific debtor may and have resulted in negative cash disbursement amounts for certain debtors. All allocations are subject to certain assumptions and uncertainties and such allocations are not recorded in the debtors books and records.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 13 of 166
MOR-1a Schedule of Disbursements by Legal Entity1 For the Period February 1, 2013 through February 28, 2013
Urban Tanker Corporation Vega Tanker Corporation View Tanker Corporation Vivian Tankships Corporation Vulpecula Chartering Corporation Wind Aframax Tanker Corporation
Total Disbursements
78,376,921
Most of the Debtors disbursements are made through centralized cash management accounts; however, the Debtors have estimated the allocation of disbursements to the legal entity on whose behalf a disbursement was made. Additionally, bankruptcy related professional fees paid by Overseas Shipholding Group, Inc. have been allocated on a pro rata basis to all debtors based on the sum of the absolute value of each debtors total assets and liabilities based on their balance sheet as of the last day of the prior month. Prior per iod credit adjustments applied against vendor payments that have been allocated to a specific debtor may and have resulted in negative cash disbursement amounts for certain debtors. All allocations are subject to certain assumptions and uncertainties and such allocations are not recorded in the debtors books and records.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 14 of 166
MOR-1b Schedule of Professional Fees and Expenses Paid1 For the Period February 1, 2013 through February 28, 2013
Amounts Paid this Period Professional Aki n Gump Stra us Ha uer & Fel d LLP Bowma n Gi l fi l l a n, Inc. Burke & Pa rs ons Chi l ma rk Pa rtners , LLC Cl ea ry Gottl i eb Steen & Ha mi l ton LLP Evers heds LLP FTI Cons ul ting, Inc. Houl i ha n Lokey Ca pi tal , Inc. Kurtzma n Ca rs on Cons ul tants LLC Morri s , Ni chol s , Ars ht & Tunnel l LLP Mul l i n Hoa rd & Brown LLP Pepper Ha mi l ton LLP Total Professional Fees and Expenses $ $ Fees 25,760 25,760 $ 318 $ $ Expenses 318 26,078 26,078 $ $ Total $
Cumulative Amount Paid Since Petition Date Fees 25,760 $ Expenses 318 $ Total 26,078 25,760 $ 318 $ 26,078
Certain of the professionals listed in the table have had retention applications approved by the Bankruptcy Court (the Retention Orders) prior to the reporting date, but no payments have been made to the retained professionals as of the reporting date under the Retention Orders.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 15 of 166
MOR-1b Schedule of Professional Fees and Expenses Paid (continued)1 For the Period February 1, 2013 through February 28, 2013
Professional Akin Gump Strauss Hauer & Feld LLP Bowman Gilfillan, Inc. Burke & Parsons Chilmark Partners, LLC Cleary Gottlieb Steen & Hamilton LLP Eversheds LLP FTI Consulting, Inc. Houlihan Lokey Capital, Inc. Kurtzman Carson Consultants LLC Morris, Nichols, Arsht & Tunnell LLP Pepper Hamilton LLP Role Unsecured Creditors' Committee Co-Counsel Debtors' Special Counsel for South African Matters Debtors' Special Counsel for United States Maritime Matters Debtors' Financial and Restructuring Advisor Debtors' Counsel Debtors' Special Counsel For United Kingdom Maritime Matters Unsecured Creditors' Committee Financial Advisor Unsecured Creditors' Committee Financial Advisor and Investment Banker Claims and Noticing Agent Debtors' Delaware Bankruptcy Co-Counsel Unsecured Creditors' Committee Co-Counsel
Certain of the professionals listed in the table below have had retention applications approved by the Bankruptcy Court (the Retention Orders) prior to the reporting date, but no payments have been made to the retained professionals as of the reporting date under the Retention Orders.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 16 of 166
Debtors Statement with respect to Bank Account Reconciliations, Bank Statements and Cash Disbursements Journal For the Period February 1, 2013 through February 28, 2013 Bank Account Reconciliations & Cash Disbursement Journals The Debtors affirm that bank reconciliations are prepared for all open and active bank accounts on a monthly basis. The Debtors affirm that within its financial accounting systems, check registers and/or disbursement journals are maintained for each disbursement account. Bank Statements The Debtors affirm that bank statements for all open and active bank accounts are retained by the Debtors. Closed Bank Accounts The Debtors affirm that the following bank account(s) were closed during the current reporting period. Debtor None Bank/Institution Account # Date of Closing
Opened Bank Accounts The Debtors affirm that the following bank account(s) were opened during the current reporting period. Debtor None Debtor Bank Account Balances See Appendix B Bank/Institution Account # Date of Opening
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 17 of 166
MOR-2 Overseas Shipholding Group, Inc. Unaudited Condensed Consolidated Statements of Operations For the Periods February 1, 2013 through February 28, 2013, and November 14, 2012 through February 28, 2013 (in thousands of dollars)
February 1, 2013 through February 28, 2013 Shipping Revenues: Pool revenues Time and bareboat charter revenues Voyage charter revenues Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(Loss) from Vessel Operations Equity in Income/(Loss) of Affiliated Companies Operating Income/(Loss) Other Income/(expense) Income/(Loss) before Interest Expense and Income Taxes Interest Expense Income/(Loss) before Reorganization Items and Income Taxes Reorganization Items, net Loss before Income Taxes $ 19,800 27,116 33,062 79,978 15,800 20,565 20,700 14,656 3,670 28 75,419 4,559 2,561 7,120 (169) 6,951 (929) 6,022 11,330 (5,308) $
65,716 99,990 138,477 304,183 69,825 81,415 89,250 58,032 19,557 1,098 319,177 (14,994) 13,459 (1,535) 59 (1,476) (3,557) (5,033) 30,679 (35,712)
See Notes to Unaudited Condensed Consolidated Statements of Operations on the following page
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 18 of 166
MOR-2 Overseas Shipholding Group, Inc. Notes to Unaudited Condensed Consolidated Statements of Operations For the Periods February 1, 2013 through February 28, 2013, and November 14, 2012 through February 28, 2013
1. The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. All information contained herein is unaudited and subject to future adjustment. The Unaudited Condensed Consolidated Statements of Operations have not been prepared in accordance with U.S. GAAP or any other recognized financial reporting framework. As disclosed in the Forms 8-K filed by Overseas Shipholding Group, Inc. (the Company) with the Securities and Exchange Commission (SEC) on October 3, 2012 and October 22, 2012, the Company is in the process of reviewing a tax issue arising from the fact that the Company is domiciled in the United States and has substantial international operations, and relating to the interpretation of certain provisions contained in the Companys loan agreements. As a result of that continuing process, on October 19, 2012, the Audit Committee of the Board of Directors of the Company, on the recommendation of management, concluded that the Companys previously issued financial statements for at least the three years ended December 31, 2011 and associated interim periods, and for the fiscal quarters ended March 31 and June 30, 2012, should no longer be relied upon. The Audit Committee and authorized officers have informed the Companys independent registered public accountants of this conclusion. The Company is continuing its review processes, including determining whether a restatement of those financial statements may be required, and the nature and amount of any potential restatement. Due to the Companys continuing review processes, the financial statements contained herein have been prepared without any consideration of income taxes, including income taxes with respect to prior periods, and should be evaluated taking into consideration the recommendation of management that the Companys previously issued financial statements for at least the three years ended December 31, 2011 and associated interim periods, and for the fiscal quarters ended March 31 and June 30, 2012, should no longer be relied upon. Reorganization Items consists of the following:
2.
3.
November 14, 2012 through February 28, 2013 $ 22,275 $ 8,404 $ 30,679
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 19 of 166
MOR-3 Overseas Shipholding Group, Inc. Unaudited Condensed Consolidated Balance Sheets As of November 13, 2012 and February 28, 2013 (in thousands of dollars)
November 13, 2012 ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Other Assets Total Assets LIABILITIES AND EQUITY Current Liabilities: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Noncurrent Liabilities: Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Liabilities Subject to Compromise Total Noncurrent Liabilities Total Liabilities Equity: Total Equity Total Liabilities and Equity February 28, 2013
477,973 171,753 80,669 14,150 46,636 791,181 3,135,823 73,898 3,209,721 247,964 72,655 9,589 20,579 4,351,689
543,883 167,765 57,631 16,860 48,313 834,452 3,087,442 64,502 3,151,944 265,146 71,111 9,589 20,072 4,352,314
93,168 93,168
118,687 118,687
See Notes to Unaudited Condensed Consolidated Balance Sheets on the following page
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 20 of 166
MOR-3 Overseas Shipholding Group, Inc. Notes to Unaudited Condensed Consolidated Balance Sheets As of November 13, 2012 and February 28, 2013 (in thousands of dollars)
1. The information contained herein is provided to fulfill the requirements of the Office of the United States Trustee. The Company makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements. Actual results may differ from those estimates. All information contained herein is unaudited and subject to future adjustment and certain such adjustments recorded to the financial statements previously reported in the Monthly Operating Reports are reflected in the financial statements presented herein. The Unaudited Condensed Consolidated Balance Sheets have not been prepared in accordance with U.S. GAAP or any other recognized financial reporting framework. As disclosed in the Forms 8-K filed by Overseas Shipholding Group, Inc. (the Company) with the Securities and Exchange Commission (SEC) on October 3, 2012 and October 22, 2012, the Company is in the process of reviewing a tax issue arising from the fact that the Company is domiciled in the United States and has substantial international operations, and relating to the interpretation of certain provisions contained in the Companys loan agreements. As a result of that continuing process, on October 19, 2012, the Audit Committee of the Board of Directors of the Company, on the recommendation of management, concluded that the Companys previously issued financial statements for at least the three years ended December 31, 2011 and associated interim periods, and for the fiscal quarters ended March 31 and June 30, 2012, should no longer be relied upon. The Audit Committee and authorized officers have informed the Companys independent registered public accountants of this conclusion. The Company is continuing its review processes, including determining whether a restatement of those financial statements may be required, and the nature and amount of any potential restatement. Due to the Companys continuing review processes, the financial statements contained herein have been prepared without any consideration of income taxes, including income taxes with respect to prior periods, and should be evaluated taking into consideration the recommendation of management that the Companys previously issued financial statements for at least the three years ended December 31, 2011 and associated interim periods, and for the fiscal quarters ended March 31 and June 30, 2012, should no longer be relied upon. The liabilities reported in the Unaudited Condensed Consolidated Balance Sheets do not currently reflect any analysis regarding potential claims under the Bankruptcy Code, including executory contracts rejected prior to the end of the reporting period for which performance had also ceased by the end of the reporting period. The Company allocated liabilities between pre-petition and post-petition periods based on the information available and research conducted in connection with the preparation of this Monthly Operating Report. As additional information becomes available, the allocation of liabilities between the pre-petition and post-petition periods may change.
2.
3.
4.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 21 of 166
MOR-3 Overseas Shipholding Group, Inc. Notes to Unaudited Condensed Consolidated Balance Sheets (continued) As of November 13, 2012 and February 28, 2013 (in thousands of dollars)
5.
As a result of the chapter 11 filings, the Companys unsecured debt has been classified as Liabilities Subject to Compromise in the Unaudited Condensed Consolidated Balance Sheets. In accordance with ASC Topic 852, as interest on the Companys unsecured debt subsequent to the Petition Date is not expected to be an allowed claim, the Company has not accrued interest expense on its unsecured debt subsequent to the Petition Date. With respect to the Companys secured debt, the value of the collateral securing the debt is still being determined, and accordingly, the Company does not know if the value of the collateral is sufficient to satisfy the secured debt claims. As a result, the Company has classified secured debt as Liabilities Subject to Compromise in the Unaudited Condensed Consolidated Balance Sheets. Pursuant to the Bankruptcy Court's orders, dated February 5, 2013, granting adequate protection [D.I. 0459 and 0460], the Company has continued to pay unpaid interest expense on the secured debt as part of the adequate protection payments. Should a determination be made that collateral is not sufficient to satisfy the secured debt, the Company and other parties in interest reserve the right to seek to recharacterize the adequate protection payments as payments on account of the principal amounts outstanding as of the petition date. Liabilities Subject to Compromise consist of the following:
November 13, 2012 $ 398 500,780 1,488,579 10,878 582,139 3,566 213,101 36,927 0 $ 2,836,368 February 28, 2013 1,875 500,780 1,488,579 10,878 579,936 3,566 213,101 35,907 377 2,834,999
6.
Pre-petition accounts payable, accrued expenses and other liabilities Senior Notes Unsecured revolver Accrued interest and fees on unsecured revolver Secured debt and accrued interest Derivative liabilities Deferred Income Taxes and other liabilities Pension liabilities Accrued liabilities relating to rejected executory contracts
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 22 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 23 of 166
MOR-4 Overseas Shipholding Group, Inc. Consolidated Summary of Unpaid Post-Petition Accounts Payable1 February 28, 2013
Days Past Due
$ Current 17,913,095 $
81%
1-30 2,807,293 $
13%
31-60 1,361,266 $
6%
61-90 69,849 $
0%
>91 (30,774) $
0%
Total 22,120,729
Notes: 1 The post petition accounts payable reported represent open and outstanding trade vendor invoices that have been entered into the Company's accounts payable system. This summary does not include accruals for invoices not yet received or approved.
The post-petition accounts payable is reported at a consolidated basis including both Debtors and non-Debtor subsidiaries to more completely reflect the liabilities of all Debtor entities, many of which utilize non-Debtor affiliates as their paying agent under the centralized cash management system of the Company. The accounts payable reported represent open trade vendor invoices that have been entered into the Companys accounts payable system and pre-petition amounts that the Company intends to pay in accordance with various orders of the Bankruptcy Court. This summary does not include accruals for invoices not yet received or approved.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 24 of 166
MOR-5 Overseas Shipholding Group, Inc. Consolidated Trade Accounts Receivable and Aging February 28, 2013
Days Aged 1 91-120 1,972,701 $
0-30 Trade Receivables: Trade - Invoiced 2 Trade - Accrued and Unbilled3 Trade - Pools4 Allowance for Doubtful Receivables Accounts Receivable Percentage of Trade-Invoiced 5 $ 19,206,005 $ 41% $ 19,206,005 $
31-60 4,346,546 $
61-90 6,562,878 $
120-180 6,121,595 $
4,346,546 $ 9%
6,562,878 $ 14%
1,972,701 $ 5%
6,121,595 $ 13%
8,365,133 $ 18%
Notes: 1 Days Aged is based on the date of invoice 2 Represents invoiced freight & miscellaneous, demurrage and non-voyage accounts receivable for the consolidated Company. 3 Represents unbilled trade accounts receivables of the consolidated Company 4 Represents undistributed earnings receivable from the commercial pools in which the Company participates 5 Represents percentage of Trade-Invoiced amounts only
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 25 of 166
MOR-6 Debtor Questionnaire For the Period February 1, 2013 through February 28, 2013
Yes 1. 2. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. Have any funds been disbursed from any account other than a debtor in possession account this reporting period. If yes, provide an explanation below. Have all post-petition tax returns been timely filed? If no, provide an explanation. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation. Have any bank accounts been opened during the reporting period? If yes, provide documentation identifying the opened account(s). If an investment account has been opened provide the required documentation pursuant to Local Rule 4001-3 X
1
No
3. 4. 5.
X X
Certain chartered vessels have been redelivered to their respective owners in conjunction with the rejection of the related charter agreements as provided for under various contract rejection orders approved by the Bankruptcy Court. 2 As provided for in the Final Order Pursuant to 11 U.S.C. 105(a), 345, 363(c)(1), 364(a), 364(c) and 503(b)(1), and Fed. R. Bankr. P. 6003: (A) Approving the Continued Use of the Cash Management System, Bank Accounts and Business Forms; (B) Permitting Continued Intercompany Transactions and Transfers and Granting Liens, Claims and Other Relief in Connection Therewith; (C) Authorizing Banks to Honor Certain Transfers and Charge Certain Fees and Other Amounts; and (D) Approving Limited Waiver of Section 345 dated January 24, 2013 [D.I. 0396] (the Cash Management Order), certain non-Debtor affiliates pay expenses to third parties on behalf of current or prior vessel-operating Debtors, including the payment of general and administrative expenses incurred by such non-Debtor affiliates. These non-Debtor affiliates are funded through Intercompany Revolvers, as defined in the Cash Management Order. 3 See Debtors Statement with respect to Bank Account Reconciliations, Bank Statements and Cash Disbursements Journal For the Period February 1, 2013 through February 28, 2013.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 26 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 27 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 28 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 29 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 30 of 166
Appendix B Overseas Shipholding Group, Inc., et al. Listing of Debtors' Bank Accounts and Book Balances as of February 28, 20131 (in USD) EIN Bank Currency Account Number
Debtor
Cabo Hellas Limited Cabo Sounion Limited Delta Aframax Corporation Epsilon Aframax Corporation Front President Inc. Goldmar Limited Jademar Limited Maple Tanker Corporation Oak Tanker Corporation OSG America Operating Company LLC OSG Bulk Ships Inc. OSG Bulk Ships Inc. OSG Bulk Ships Inc. OSG Financial Corp. OSG International Inc. OSG International Inc. OSG International Inc. OSG Lightering LLC OSG Lightering LLC OSG Lightering LLC OSG Ship Management Inc. OSG Ship Management, Inc. OSG Ship Management, Inc. OSG Ship Management, Inc. Overseas Shipholding Group, Inc. Overseas Shipholding Group Inc. Overseas Shipholding Group, Inc. Overseas Shipholding Group, Inc. Overseas Shipholding Group, Inc. USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD USD
Preliminary and Unaudited
98-0465299 98-0465296 98-0489892 98-0489895 77-0681687 98-0420772 98-0417939 98-0595234 98-0595229 45-0575493 13-2632600 13-2632600 13-2632600 13-3178639 98-0467117 98-0467117 98-0467117 98-0380553 98-0380553 98-0380553 13-3589004 13-3589004 13-3589004 13-3589004 13-2637623 13-2637623 13-2637623 13-2637623 13-2637623 XXX-XX0606 XXX-XX0614 XXXXX6729 XXXXX6737 XXXXX6745 XXX-XX0622 XXX-XX0932 XXXX6753 XXXX6761 XXXXXXX3987 XXXXXXX4290 XXXX-XXXXX0-509 XXX-X-XX7251 XXX-X-XX3754 XXXXX6923 XXX-X-XX5113 XXXXX7192 XXXXX9048 XXXXXX9108 XXXXXX9174 XXX-XX2788 XXXXXX2932 XXX-XX6624 XXX-XX5045 XXXX6002 XXX-XXX6647 XXX-XXXXX1-852 X4888 XXXXXXX7175
JP Morgan Chase JP Morgan Chase HSBC HSBC HSBC JP Morgan Chase JP Morgan Chase HSBC HSBC Fifth Third Bank - Tampa Fifth Third Bank - Tampa JP Morgan Chase JP Morgan Chase JP Morgan Chase HSBC JP Morgan Chase JP Morgan Chase Bank of Oklahoma Bank of Texas - Houston Bank of Texas - Houston JP Morgan Chase Fifth Third Bank - Tampa JP Morgan Chase JP Morgan Chase DnB NOR Bank ASA TD Bank, N.A. Morgan Stanley BlackRock Fidelity
Balance per Books as of February 28, 2013 1,000 1,000 1,000 1,000 1,000 64,087,146 2,395,264 (1,009,986) 46,776,926 196,693 1,474,129 67,687,047 1,615,258 7,924,562 (34,425) 1 10,000 60,544 306,322 84,136 2,191 24,040,861 114,006,197 104,716,480
Page 31 of 166
Appendix B Overseas Shipholding Group, Inc., et al. Listing of Debtors' Bank Accounts and Book Balances as of February 28, 20131 (in USD) EIN 13-2637623 13-2637623 13-2637623 98-0457140 98-0457131 98-0417974 98-0420767 98-0513551 98-0513551 98-0513551 98-0420766 USD USD USD USD USD USD USD USD CAD CAD USD XXX-X-XX5014 XXX6306 XXX-XX9772 XXX-XX0940 XXX-XX0533 XXX-XX0959 XXX-XX0967 XXXXXX-XXX4290 XXXXXX-XXX9190 XXXXXX-XXX6490 XXX-XX00975 TOTAL JP Morgan Chase JP Morgan Chase JP Morgan Chase JP Morgan Chase JP Morgan Chase JP Morgan Chase JP Morgan Chase Cidel Bank & Trust, Inc. Cidel Bank & Trust, Inc. Cidel Bank & Trust, Inc. JP Morgan Chase Bank Currency Account Number
Debtor
Case 12-20000-PJW
Overseas Shipholding Group, Inc. Overseas Shipholding Group, Inc. Overseas Shipholding Group, Inc. Pearlmar Limited Reymar Limited Rosemar Limited Rubymar Limited Shirley Tanker SRL Shirley Tanker SRL Shirley Tanker SRL Silvermar Limited
Doc 1167
Balance per Books as of February 28, 2013 342,308 68,005,051 5,000 41 0 4,282 $ 502,701,027
Filed 04/15/13
Petty cash accounts with nominal balances maintained at certain office locations have been excluded from this list, but are reported in the Cash and Cash Equivalents line item in the balance sheets presented herein.
Page 32 of 166
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 33 of 166
Appendix C Notes to the Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
These unaudited condensed consolidating financial statements are provided to fulfill the requirements of the Office of the United States Trustee. Amounts in the columns and rows in the Unaudited Condensed Consolidating Statements of Operations and Balance Sheets may not sum to subtotal or total amounts due to rounding. All information contained herein is unaudited and subject to future adjustment and certain such adjustments recorded to the financial statements previously reported in the Monthly Operating Reports are reflected in the financial statements presented herein. The Company makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements. Actual results may differ from those estimates. The Company put forth significant efforts to attribute the results of operations to the proper legal entity. However, because the Companys accounting systems, policies, and practices were developed with a view to producing consolidated reporting, rather than by legal entity, it is possible that not all assets and liabilities and/or results of operations have been recorded at the correct legal entity in the unaudited condensed consolidating financial statements. These statements should be read in conjunction with the General Notes contained within this Monthly Operating Report. The notes that are contained in this Monthly Operating Report (the "MOR") have been provided to assist the reader in understanding the information presented. No conclusion as to the completeness of the notes that are included in this MOR, the importance or significance of such notes, or the importance or significance of information that could have been included in such notes, but is not, is made by the inclusion of the notes contained in this MOR. In accordance with normal Company practice, adjustments related to prior periods are recorded and reflected in the period in which it is determined that such adjustments are needed. The Company is a publicly-held company that prepared and filed consolidated financial statements on a quarterly basis. In accordance with the Companys historic policies and practices related to quarterly reporting, certain information contained i n the Monthly Operating Reports is estimated in the first and second months of each calendar quarter, then reconciled to actual results and/or other analysis performed quarterly and adjusted accordingly in the final month of the calendar quarter. Post-petition interest expense and interest income on intercompany loans from Non-Debtors to Debtors is included in Other Income in the accompanying Unaudited Condensed Consolidating Statements of Operations. The Company owns a fleet of ten (10) articulated tug-barges (ATB). An ATB consists of a tug and a barge. Each tug and its respective barge are owned by a different Debtor. The revenue associated with the operation of an ATB is recorded on the related barge Debtor entity, whereas the operating expenses of the ATB are recorded on both the related tug and barge respective Debtor entities, based on the specific expenses incurred by each. All of the Company's chartered in vessels are accounted for as operating leases. ASC Topic 840 states that if costs expected to be incurred under an operating sublease (that is, executory costs, which represent costs typically classified as voyage expenses, and charter hire expense - rental payments) exceed anticipated revenue on the operating sublease, a loss shall be recognized by the sublessor in the period it executed the sublease. The provision for a loss on a sublease would be based on the net expected future cash disbursements. Credits to charter hire expense arise, when terms of the sublease, time charterout, are modified in a period subsequent to the period in which the provision is recorded.
Case 12-20000-PJW
Doc 1167
Filed 04/15/13
Page 34 of 166
Appendix C Notes to the Unaudited Condensed Consolidating Statements of Operations and Balance Sheets (continued)
As a result of the chapter 11 filings, the Companys unsecured debt has been classified as Liabilities Subject to Compromise in the Unaudited Condensed Consolidating Balance Sheets. In accordance with ASC Topic 852, as interest on the Companys unsecured debt subsequent to the Petition Date is not expected to be an allowed claim, the Company has not accrued interest expense on its unsecured debt subsequent to the Petition Date. With respect to the Companys secured debt, the value of the collateral securing the debt is still being determined, and accordingly, the Company does not know if the value of the collateral is sufficient to satisfy the secured debt claims. As a result, the Company has classified secured debt as Liabilities Subject to Compromise in the Unaudited Condensed Consolidating Balance Sheets. Pursuant to the Bankruptcy Court's orders, dated February 5, 2012, granting adequate protection [D.I. 0459 and 0460], the Company has continued to pay unpaid interest expense on the secured debt as part of the adequate protection payments. Should a determination be made that collateral is not sufficient to satisfy the secured debt, the Company and other parties in interest reserve the right to seek to recharacterize the adequate protection payments as payments on account of the principal amounts outstanding as of the petition date.
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ (2,431) (2,431) 2,431 2,431 465 2,896 2,896 7,398 (4,502) $ (1,458) (1,458) 1,460 1,460 1,798 3,258 3,258 21,859 (18,601) $
(51) (897) (948) 944 2,239 3,182 (5,577) (2,394) 342 (2,052) (2,052)
Page 35 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 35 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 11 (11) (11) (184) (195) (195) (195) $ (77) 70 (4) (11) 11 11 (736) (724) 33 (691) (691) $
111 1,124 900 2,135 (1,081) (1,081) (1) (1,081) (380) (1,461) (1,461)
Page 36 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 36 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Alcesmar Limited
November 14, 2012 February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 5 (5) 2,053 2,048 2,048 2,048 2,048 $ 80 (80) 8,607 8,528 8,528 8,528 8,528 $
Page 37 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 37 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Alcmar Limited
February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ 430 $ 430 1,678 $ 0 (0) 1,678 14 14 (0) 36 $ 48 1,290 19 1,358
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 204 174 378 52 52 52 (16) 36 36 $ (29) 632 659 1,262 416 416 416 (54) 362 362 $
157 304 1,580 133 2,173 (815) (815) (815) (815) 2,100 (2,915)
Page 38 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 38 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 39 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 39 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Ambermar Product Carrier Corporation Ambermar Tanker Corporation
November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 277 178 159 614 200 200 200 200 200 $ 1,908 716 614 3,238 525 525 525 525 525 $
Page 40 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 40 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Andromar Limited
February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
Antigmar Limited
November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ 433 $ (80) 353 1,689 $ (93) 1,596 433 $ 130 563 1,681 56 1,737
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 164 178 341 12 12 12 (16) (4) (4) $ (0) 620 670 1,290 306 306 306 (54) 252 252 $
(0) 246 163 409 154 154 154 (16) 138 138 $
Page 41 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 41 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ (2) (2) (2) (2) (2) $ $ (2) $ $ (2) $ 681 681 $ 4,126 4,126
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
Page 42 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 42 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Ariadmar Limited
February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes 204 186 389 14 14 14 (16) (2) (2) $ (2) 656 700 1,354 188 188 188 (54) 134 134 $
Page 43 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 43 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Atalmar Limited
February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ 929 929 $ 3,884 3,884 $ 1,599 1,599 $ 4,233 4,233
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 538 297 179 1,015 (86) (86) (86) (86) (86) $ 2,182 571 676 3,430 455 455 455 455 455 $
Page 44 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 44 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 952 952 $ $ 3,412 3,412 316 $ 316 1,684 1,684
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 484 4 441 929 23 23 23 23 23 $ 1,898 15 1,685 3,598 (186) (186) (186) (186) (186) $
Page 45 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 45 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Doc 1167
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
Filed 04/15/13
Page 46 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 46 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Brooklyn Product Tanker Corporation
November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ $ 296 296 (3) $ 1,708 1,704 (0) (0) 63 $ (0) (0)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 162 320 1 482 (186) (186) (186) (186) 1,114 (1,301) $ 727 1,709 26 2,462 (758) (758) (758) (758) 1,114 (1,872) $
Page 47 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 47 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 340 5 345 $ 1,310 5 1,315 $ 340 3 343 $ 1,396 6 1,402
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 10 133 180 323 22 22 22 22 22 $ 38 674 679 1,390 (75) (75) (75) (75) (75) $
Page 48 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 48 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
Page 49 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 49 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ 350 350 (7) $ 1,338 (3) 1,328 433 $ 433 1,686 1,686 -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 17 131 222 370 (20) (20) (20) (20) (20) $ (375) 535 839 999 329 329 329 329 329 $
Page 50 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 50 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 5 5 5 5 5 $ $ 5 $ $ 5 $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
Page 51 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 51 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes 255 184 439 (63) (63) (63) (86) (149) 83 (232) $ (3) 882 702 1,582 (168) (168) (168) (332) (500) 83 (582) $
Page 52 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 52 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ 1 5 1,412 1,418 (655) (655) (655) (655) (655) $
Page 53 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 53 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ (9) (0) (5) (5) (4) (4) (4) (4) $ $ (4) $ $ (9) $ $ 1 1 1 1 1 $ 1 1
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
Page 54 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 54 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ (69) (69) (69) (69) (69) $
Page 55 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 55 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 4 3 2 $ (9) 311 1,052 68 1,422 (884) (884) (884) (884) 1,943 (2,828) $
Page 56 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 56 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Eighth Aframax Tanker Corporation Epsilon Aframax Corporation
November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ 200 $ 200 813 $ 813 204 $ 204 974 974
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 229 129 358 (157) (157) (157) (157) (157) $ 755 483 1,238 (426) (426) (426) (426) (426) $
(8) 750 694 0 1,435 (462) (462) (462) (325) (787) 83 (870)
Page 57 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 57 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 4 4 336 344 (8) (8) (8) (8) (8) $ 16 15 202 233 1,011 1,011 1,011 1,011 1,011 $
Page 58 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 58 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Fourth Aframax Tanker Corporation
November 14, 2012 February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes 52 223 298 573 293 293 293 293 293 $ 132 1,141 1,118 2,391 (919) (919) (919) (919) (919) $
Page 59 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 59 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Goldmar Limited
November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ 1,436 $ 1,436 2,670 $ 2,670 464 $ 464 1,647 1,647
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 89 249 334 673 763 763 (1) 762 (151) 611 83 528 $ 108 959 1,257 (0) 2,324 346 346 (1) 345 (608) (263) 83 (346) $
Page 60 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 60 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 186 $ 186 883 $ 883 408 $ 408 1,559 1,559 -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 490 462 9 961 (775) (775) (775) (775) 1,543 (2,319) $ (8) 1,006 1,788 35 0 2,820 (1,937) (1,937) (1,937) (1,937) 1,543 (3,480) $
2 403 405 3 3 3 3 3 $
8 1,509 1,517 42 42 42 42 42
Page 61 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 61 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Jademar Limited
November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ 1,334 $ 1,334 5,255 $ 5,255 472 $ 2 474 1,598 4 1,602
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ (6) 18 2,233 2,245 (911) (911) (911) (911) (911) $ 84 58 7,191 1 7,334 (2,078) (2,078) (2,078) (2,078) (2,078) $
Page 62 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 62 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes (10) (10) 10 10 10 10 10 $
Page 63 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 63 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 1,064 1,064 $ 3,338 3,338 $ 748 748 $ 2,524 2,524
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 455 143 364 31 993 70 70 70 70 70 $ 1,913 538 1,391 113 3,956 (618) (618) (618) (618) (618) $
Page 64 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 64 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 1,010 1,010 $ 3,699 3,699 $ 482 482 $ 1,763 1,763
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 476 2 442 920 89 89 89 89 89 $ 2,095 14 1,691 3,799 (101) (101) (101) (101) (101) $
435 534 638 1,607 157 157 (0) 157 (188) (31) (31)
Page 65 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 65 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Luxmar Product Tanker Corporation
November 14, 2012 February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ (48) 10 (38) 53 53 53 53 53 $ 840 316 765 437 2,358 (546) (546) (546) (546) 2,502 (3,048) $
Page 66 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 66 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 0 0 0 (0) (0) (0) (0) $ (0) $ 42 (42) (42) (42) (42) (42) $ 4 38 $ $ 511 $ 511 1,960 1,960
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes
Page 67 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 67 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Maremar Product Tanker Corporation
November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ 1,104 $ 1,104 1,847 3 1,850 $ 0 0 (0) (0) (0) (0) $ (0) $ (4) (4) (4) (4) 4 (4) $ 4
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes (17) 159 410 3 555 549 549 (1) 547 (195) 352 83 269 $ 51 756 1,566 3 2,376 (526) (526) (1) (527) (784) (1,311) 83 (1,394) $
Page 68 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 68 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 647 131 211 0 988 52 52 52 52 52 $ 2,070 743 792 5 3,609 (192) (192) (192) (192) (192) $
Page 69 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 69 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 70 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 70 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 447 142 126 716 268 268 268 268 268 $ 2,084 594 482 3,160 1,008 1,008 1,008 1,008 1,008 $
Page 71 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 71 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 1,106 1,106 $ 5,492 5,492 $ (5) (5) (2) 9 $ 939 939
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 621 297 153 15 1,086 20 20 20 20 20 $ 2,539 1,170 583 58 19 4,369 1,122 1,122 1,122 1,122 1,122 $
427 413 613 172 1,625 (686) (686) (686) (686) 175 (861)
Page 72 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 72 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 19 132 410 561 326 326 (1) 325 (191) 134 83 51 $ 53 792 1,564 2,410 (240) (240) (1) (241) (766) (1,006) 83 (1,089) $
Page 73 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 73 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 219 $ 219 570 570 $ 706 706 9 23 $ 2,641 23 2,664
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ (0) 203 344 547 (328) (328) (328) (328) (328) $ 743 1,094 1,838 (1,268) (1,268) (1,268) (1,268) (1,268) $
Page 74 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 74 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 721 2 723 9 12 $ 2,751 21 2,772 $ 700 51 751 71 39 $ 2,494 212 2,706
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 173 195 528 528 528 528 528 $ 40 113 651 804 1,967 1,967 1,967 1,967 1,967 $
Page 75 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 75 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 76 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 76 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 379 485 864 $ 379 2,891 3,271 $ 756 35 791 11 79 $ 2,968 62 3,030
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 415 45 (97) 363 502 502 502 502 502 $ 602 179 775 1,556 1,715 1,715 1,715 1,715 1,715 $
Page 77 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 77 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ 903 (7) 896 (5) 26 903 4,273 5,176 $ 877 877 $ 2,704 2,704
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 224 244 652 652 652 652 652 $ 1,234 73 835 2,141 3,035 3,035 3,035 3,035 3,035 $
Page 78 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 78 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
Page 79 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 79 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 80 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 80 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 OSG America Operating Company LLC OSG Car Carriers, Inc.
November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 383 383 (383) (383) 7 (376) (376) (376) $ 1,367 1,366 (1,366) 2,614 1,248 16 1,264 0 1,264 1,264 $
Page 81 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 81 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 OSG Clean Products International, Inc. OSG Columbia LLC
November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 82 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 82 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 83 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 83 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 652 2,078 1,024 22 3,774 470 470 470 470 470 $ 2,890 4,425 3,845 70 11,230 2,857 2,857 2,857 2,857 2,857 $
Page 84 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 84 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 16 16 (16) (16) (16) (16) (16) $ 16 16 (16) (16) (16) (16) (16) $
Page 85 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 85 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 176 108 6 289 (289) (289) (289) (289) (289) $ 753 389 22 1,165 (1,165) (1,165) (1,165) (1,165) (1,165) $
Page 86 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 86 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 8 8 (8) (8) (8) (8) $ (8) $ 16 290 1,038 1,344 (1,344) (1,344) (1,344) (1,344) (1,344) $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes
Page 87 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 87 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 227 (85) 7 148 (148) (148) (148) (148) (148) $ 7 740 215 24 987 (987) (987) (987) (987) (987) $
Page 88 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 88 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
3,693 365 1,555 659 243 6,515 (465) (465) 1 (464) (464) (464) $
20,000 2,193 8,901 2,332 818 34,244 (3,746) (3,746) 2 (3,744) (3,744) (3,744)
Page 89 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 89 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 OSG Lightering Acquisition Corporation OSG Lightering Solutions LLC
November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 90 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 90 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ 6 6 (6) (6) (6) (6) $ (6) $ 16 16 (16) (16) (16) (16) (16) $ 22 (22) (22) (22) (22) (22) $ 22
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Doc 1167
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes 16 16 (16) (16) (16) (16) (16) $ -
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 91 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 198 68 6 272 (272) (272) (272) (272) (272) $ 746 251 23 1,021 (1,021) (1,021) (1,021) (1,021) (1,021) $
Page 92 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 92 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 93 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 93 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 OSG Product Tankers Member LLC
November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 94 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 94 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ 8 8 (8) (8) (8) (8) $ $ $ (8) $ $ 13 13 (13) (13) (13) (13) (13)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
Page 95 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 95 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
Page 96 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 96 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
Page 97 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 97 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 1,568 1,568 $ 5,992 2 5,994 $ 1,491 1,491 $ 5,698 26 5,723
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 20 465 711 8 16 1,220 348 348 348 348 348 $ 77 1,936 2,739 29 59 4,840 1,154 1,154 1,154 1,154 1,154 $
Page 98 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 98 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes
Page 99 of 166
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Page 99 of 166
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes 5 505 664 61 16 1,253 56 56 56 56 56 $ 21 1,995 2,559 220 60 4,855 148 148 148 148 148
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 1,302 1,302 $ 4,976 4,976 $ 1,302 1,302 $ 4,968 7 4,975
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 11 544 665 48 16 1,283 19 19 19 19 19 $ 41 1,967 2,563 172 58 4,801 174 174 174 174 174 $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 1,491 1,491 $ 5,672 26 5,698 $ $ 5 5 (5) (5) (5) (5) $ $ $ (5)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes 23 488 711 11 16 1,249 242 242 242 242 242 $ 105 2,040 2,710 41 60 4,955 743 743 743 743 743
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 1,267 1,267 $ 4,842 4,842 $ 1,491 1,491 $ 5,698 21 5,719
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 5 536 672 20 16 1,249 18 18 18 18 18 $ 20 1,930 2,588 72 59 4,669 173 173 173 173 173 $
100 1,943 2,697 155 60 4,955 763 763 763 763 763
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 10 10 $ $ $ -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 10 (10) (10) (10) (10) (10) $ 10 (10) (10) (10) (10) (10) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 3 3 (3) (3) (3) (3) $ $ (3) $ $ $ 3,921 3,921 $ 14,893 14,893
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes -
115 4,061 3,159 121 7,457 7,436 7,436 7,436 7,436 7,436
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 1,624 1,624 $ 6,206 6 6,212 $ 1,820 1,820 $ 6,209 6,209
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 27 535 736 2 16 1,316 308 308 308 308 308 $ 90 1,966 2,806 8 59 4,929 1,284 1,284 1,284 1,284 1,284 $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Pearlmar Limited
February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
Petromar Limited
November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ 489 $ 5 494 1,736 7 1,743 $ 872 872 $ 2,810 2,810
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 1 181 200 382 112 112 112 112 112 $ 3 1,014 757 1,773 (31) (31) (31) (31) (31) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 807 807 $ 3,120 3,120 $ 860 860 $ 3,314 3,314
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 623 3 458 1,083 (277) (277) (277) (277) (277) $ 2,082 29 1,749 3,861 (740) (740) (740) (740) (740) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Queens Product Tanker Corporation Reymar Limited
November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ 3 3 1 3 5 (1) (1) (1) (1) $ (1) $ 94 (80) (80) (80) (80) (80) $ 5 89 14 14 $ $ 308 $ 4 312 1,268 8 1,276
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 848 848 $ 455 2,181 2,636 $ $ (146) (146) (2) 14 0 (2) 862 862
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 349 2 453 804 44 44 44 44 44 $ 1,013 14 1,614 2,641 (6) (6) (6) (6) (6) $
511 361 626 80 1,577 (715) (715) (715) (715) (1,852) 1,137
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Rosemar Limited
November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ 812 $ 812 1,873 1,873 $ 336 2 338 $ 1,284 4 1,288
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 52 349 189 591 221 221 221 221 221 $ 152 1,037 770 1,959 (86) (86) (86) (86) (86) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Rubymar Limited
February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ 262 262 (1) (0) 1 $ $ 1,000 1,000 1,010 $ 1,010 2,459 2,459
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 189 188 74 74 74 74 74 $ 719 720 281 281 281 281 281 $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 350 3 353 $ $ 1,338 (3) 1,335 1,706 1,706 $ 5,308 5,308
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 8 160 167 335 18 18 (0) 18 (40) (22) (22) $ 44 533 637 1,214 121 121 (0) 121 (172) (51) (51) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Seventh Aframax Tanker Corporation
November 14, 2012 February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 16 (6) 22 $ 694 417 906 56 2,072 (568) (568) (568) (568) (2) (567) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Shipping Revenues: $ 200 $ 200 744 $ 744 434 $ 434 1,682 1,682
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 317 289 5 611 (411) (411) 0 (411) (32) (443) (443) $ 1,267 1,092 38 2,397 (1,653) (1,653) 0 (1,653) (109) (1,761) (1,761) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
Silvermar Limited
February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ 475 $ 3 478 2 45 1,605 3 1,608 $ $ 379 379 (38) 1,452 1,414
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 197 243 235 235 235 235 235 $ 5 613 738 1,356 253 253 253 253 253 $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Skopelos Product Tanker Corporation Star Chartering Corporation
November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ 1,111 1,111 $ 3,551 3,551 $ 392 392 $ 1,498 1,498 -
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 652 179 103 934 177 177 177 177 177 $ 2,321 688 393 3,401 150 150 150 150 150 $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Suezmax International Agencies, Inc. Talara Chartering Corporation
November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 - February 1 - 28, February 28, 2013 2013
($000s)
Shipping Revenues: $ 1,278 $ 1,278 6,124 $ 6,124 260 $ 3 264 1,416 3 1,419
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 20 2,064 103 2,187 (908) (908) (908) (908) (908) $ (282) 64 7,884 276 7,942 (1,818) (1,818) (1,818) (1,818) (1,818) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 26 (26) (26) (26) (26) (26) $ 26 (26) (26) (26) (26) (26) $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Combined Debtors
February 1 - 28, 2013 November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ $ $ 19,800 $ 28,168 33,228 81,195 65,991 104,551 138,643 309,185
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ $ -
15,867 20,527 21,752 14,711 2,320 40 75,218 5,977 2,561 8,539 (800) 7,738 (929) 6,810 11,330 (4,520) $
70,187 80,034 93,857 58,234 12,587 1,106 316,005 (6,820) 13,459 6,639 (4,674) 1,965 (3,556) (1,591) 30,679 (32,270)
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Consolidated Debtors
February 1 - 28, 2013 November 14, 2012 February 28, 2013
Eliminations
February 1 - 28, 2013 November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ $ (1,052) (1,052) (242) (4,609) (4,851) $ 19,800 $ 27,116 33,228 80,143 65,748 99,942 138,643 304,334
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ (1,052) (1,052) $ (4,851) (4,851) -
15,867 20,527 20,700 14,711 2,320 40 74,166 5,977 2,561 8,539 (800) 7,738 (929) 6,810 11,330 (4,520) $
70,187 80,034 89,006 58,234 12,587 1,106 311,154 (6,820) 13,459 6,639 (4,674) 1,965 (3,556) (1,591) 30,679 (32,270)
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Total Non-Debtors Eliminations
February 1 - 28, 2013 November 14, 2012 February 28, 2013 February 1 - 28, 2013 November 14, 2012 February 28, 2013
($000s)
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Doc 1167
Filed 04/15/13
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ (67) 38 (55) 1,349 (11) 1,253 (1,420) (1,420) 631 (789) (789) (789) $ (362) 1,381 244 (202) 6,969 (6) 8,024 (8,177) (8,177) 4,733 (3,444) 0 (3,444) (3,444)
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Statements of Operations For the Periods from February 1 - 28, 2013 and November 14, 2012 through February 28, 2013 Consolidated Overseas Shipholding Group, Inc.
February 1 - 28, 2013 November 14, 2012 February 28, 2013
($000s)
Shipping Revenues: $ 19,800 $ 27,116 33,062 79,978 65,716 99,990 138,477 304,183
Case 12-20000-PJW
Pool revenues Time and bareboat charter revenues Voyage charter revenues
Operating Expenses: Voyage expenses Vessel expenses Charter hire expenses Depreciation and amortization General and administrative (Gain)/loss on disposal of vessels Total Operating Expenses Income/(loss) from Vessel Operations Equity in Income/(loss) of Affiliated Companies Operating Income/(loss) Other Income/(expense) Income/(loss) before Interest Expense and Income Taxes Interest Expense Income/(loss) before Reorganization Items and Income Taxes Reorganization Items, net Income/(loss) before Income Taxes $ 15,800 20,565 20,700 14,656 3,670 28 75,419 4,559 2,561 7,120 (169) 6,951 (929) 6,022 11,330 (5,308) $ 69,825 81,415 89,250 58,032 19,557 1,098 319,177 (14,994) 13,459 (1,535) 59 (1,476) (3,557) (5,033) 30,679 (35,712)
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Overseas Shipholding Group, Inc. November 13, February 28, 2012 2013
OSG Bulk Ships, Inc. November 13, February 28, 2012 2013
(1) 18 18
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ 320,126 $ 530 26,385 16,696 363,738 38 816,000 267,376 331,328 10,840 0 1,789,319 $ 311,118 $ 78 26,351 13,158 350,706 38 816,000 269,142 331,409 10,840 81 10,018 0 1,788,232 $ 3,986 $ (990) 13,363 (133) 16,227 (2,998) 2,036,505 180,732 339,231 1,487,388 6 4,057,090 $ 70,776 $ (994) 12,931 69 82,783 8,030 2,036,512 122,963 339,233 1,487,354 1,881 27,433 17 4,106,207 $ 46,300 $ 746 47,046 1,512,260 986,889 4,045 237 2,550,477 $ 48,162 $ 380 48,542 1,512,260 986,889 4,045 7,427 332 2,559,495 $ $ 2,611 27 75 2,713 50,585 2,212 52,797 16,336 257 72,103 $ $ 2,768 32 95 2,895 49,821 2,070 51,891 16,336 165 234 71,521 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 8,019 8,019 18,944 18,944 (931) (931)
55 55
1,152 1,152
1,150 1,150
1,155 1,155
33 43 43 29 62
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 8,019 3,623 22,568 76,060 2,819 39,493 117,441
1,808 1,863
1,150
17 39 56 118
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 12,677 29,734 2,231,657 2,274,068 2,282,087 2,296,732 12,677 29,814 2,231,673 2,274,165
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (492,769) 1,789,319 $
(508,500) 1,788,232 $
1,578,459 4,057,090 $
1,585,052 4,106,207 $
1,359,207 2,550,477 $
1,358,625 2,559,495 $
(4,444) 72,103 $
(5,510) 71,521 $
494,959 495,057 $
504,801 504,919
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 1,547 11 21 1,579 34,822 674 35,496 300 3,930 0 53 41,358 $ $ 1,832 (17) 33 1,849 34,248 586 34,835 300 3,930 0 640 84 41,637 $ $ 153 (24) 21 150 34,750 401 35,151 600 7,926 67 43,893 $ $ 1,734 (10) 34 1,757 34,182 312 34,494 600 7,926 29 44,806 $ $ 2,957 2,741 528 6,226 228 1,800 2,028 6,502 14 55 14,825 $ $ 6,382 105 498 6,985 6,502 14 13,501 $ $ (62) 131 69 157 481 707 $ $ (62) 131 69 157 481 707 $
$ 2,562 6 38 388 2,995 51,954 1,747 53,701 601 6,826 (1) 64,121 $
2,741 18 39 2,799 51,263 1,607 52,869 601 6,826 1,413 (1) 64,507
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 44 44 40 40 708 708 745 745
116 116
275 275
41 41
157 157
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 44 169 209 708 187 322 1,255
116
1,433 1,708
41
157
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 6,818 238 19,950 27,006 27,050 27,219 6,818 238 19,953 27,010
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 14,308 41,358 $
14,418 41,637 $
15,308 43,893 $
15,670 44,806 $
(14,912) 14,825 $
(17,827) 13,501 $
560 707 $
560 707 $
57,755 64,121 $
58,025 64,507
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013 Ambermar Product Carrier Corporation November 13, February 28, 2012 2013 Ambermar Tanker Corporation November 13, February 28, 2012 2013 Andromar Limited November 13, February 28, 2012 2013 Antigmar Limited November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 1,417 14 318 21 1,769 26,361 1,657 28,018 16,108 33 45,929 $ $ 1,449 22 29 29 1,528 25,872 1,532 27,404 16,108 1,519 20 46,579 $ $ (22) 1,071 1,049 102 783 1,934 $ $ (22) (22) 102 783 810 261 1,934 $ $ 1,480 20 23 1,523 35,473 534 36,006 600 14,837 1 46 53,013 $ $ 2,099 18 33 2,150 34,923 416 35,339 600 14,837 1 42 52,968 $ $ 270 (27) 484 21 748 35,287 395 35,682 600 15,228 (24) 52,233 $ $ 1,768 (7) (0) 33 1,794 34,738 325 35,064 600 15,228 (18) 52,667 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 374 374 499 499 4 4 4 4
928 928
40 40
469 469
112 112
57 57
57 57
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 374 4 499 4
928
469
57
57
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 17,078 335 17,413 17,787 17,912 17,078 335 17,413
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 28,142 45,929 $
28,667 46,579 $
1,090 1,934 $
1,090 1,934 $
15,521 53,013 $
15,773 52,968 $
14,033 52,233 $
14,395 52,667 $
7,470 9,523 $
7,469 9,522
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Athens Product Tanker Corporation November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 2,193 15 150 273 2,631 19,515 22,146 $ $ 2,666 15 562 501 3,744 19,515 23,259 $ $ 1,578 6 29 1,612 35,133 762 35,895 300 4,859 1 30 42,697 $ $ 1,832 (2) 33 1,863 34,572 626 35,197 300 4,859 1 791 30 43,041 $ $ 330 26 31 386 1,193 550 2,130 $ $ 330 26 31 387 1,193 550 2,131 $ $ 1,936 2 182 23 2,143 35,037 726 35,762 13,184 (114) 50,976 $ $ 1,248 0 346 33 1,626 34,475 611 35,086 13,184 1,279 (60) 51,116 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 478 478 972 972 42 42 57 57 -
571 571
257 257
63 63
325 325
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 478 42 630 1,602 192 249
571
257
63
325
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 23,009 23,009 23,487 24,611 23,009 23,009
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (1,340) 22,146 $
(1,352) 23,259 $
14,496 42,697 $
14,629 43,041 $
936 2,130 $
937 2,131 $
40,360 50,976 $
40,815 51,116 $
1,075 43,926 $
2,534 45,648
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 904 433 605 1,941 22,309 (9) 24,241 $ $ 1,758 365 498 2,621 22,309 (9) 24,921 $ $ 3,187 28 96 3,311 38,944 1,486 40,429 12,328 (37) 56,032 $ $ 3,360 34 82 3,476 38,323 1,407 39,730 12,328 126 (2) 55,658 $ $ 171 (53) 221 339 1,271 1,611 $ $ 172 (53) 221 340 1,271 1,611 $ $ 59,564 59,564 22,063 299 81,926 $ $ 59,991 59,991 22,063 299 82,353 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 59 59 582 582 321 321 189 189
249 249
249 249
609 609
518 518
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 59 343 925 321 189
249
249
(854) (245)
671 1,189
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 25,381 365 25,746 25,805 26,671 25,381 365 25,746
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (1,564) 24,241 $
(1,750) 24,921 $
49,250 56,032 $
49,008 55,658 $
154 1,611 $
154 1,611 $
100 81,926 $
100 82,353 $
(4,181) 11,345 $
(6,052) 10,907
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013 Brooklyn Product Tanker Corporation November 13, February 28, 2012 2013 Cabo Hellas Limited November 13, February 28, 2012 2013 Cabo Sounion Limited November 13, February 28, 2012 2013 Caribbean Tanker Corporation November 13, February 28, 2012 2013
$ 2 31 67 68
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 710 (3) 707 2,827 25,270 (3) 28,802 $ 53 87 35,422 263 35,685 26,270 4 763 62,808 $ 67 30,925 18 14 31,024 $ 68 30,925 18 14 31,025 $ $ 413 (5) 408 2,827 25,270 56 (4) 28,557 $ $ 195 22 47 264 36,005 358 36,364 26,270 4 62,901 $ $ 205 (9) 33 230 37,294 306 37,600 27,240 3 (41) 65,032 $ $ 10 (13) 39 36 36,692 225 36,916 27,240 3 868 (1) 65,062 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 279 279 114 114 461 461 443 443
489 489
406 406
19 19
281 281
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 279 114 461 443
489
406
19
156 437
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 370 47,640 48,010 48,289 48,105 370 47,620 0 47,990
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (19,488) 28,802 $
(19,547) 28,557 $
42,091 62,901 $
42,015 62,808 $
43,790 65,032 $
43,903 65,062 $
31,024 31,024 $
31,025 31,025 $
(3,998) 20,251 $
(3,413) 21,255
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
$ 90 0
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 2,622 11 33 2,667 51,896 1,873 53,768 612 6,388 (58) 63,377 $ 90 431 522 $ $ 0 431 96 527 $ $ $ 3,575 (3) 39 3,611 51,203 1,726 52,929 6,388 1,933 (11) 64,850 $ $ 1,991 241 2,232 300 7,495 10,027 $ $ 1,877 350 2,227 300 7,495 173 10,194 $ -
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 102 102 1,246 1,246 0 0 -
660 660
378 378
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 102 1,246 493 493 697 697
660
531 909
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 6,327 2 6,330 6,431 7,576 6,327 2 6,330
83 18 10 111 111
83 18 10 111 111
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 56,946 63,377 $
57,274 64,850 $
(1,989) 10,027 $
(2,025) 10,194 $
410 522 $
416 527 $
15,844 61,132 $
15,262 60,556
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
DHT Ania Aframax Corp. November 13, February 28, 2012 2013
DHT Ann VLCC Corp. November 13, February 28, 2012 2013
DHT Cathy Aframax Corp. November 13, February 28, 2012 2013
DHT Chris VLCC Corp. November 13, February 28, 2012 2013
DHT Rebecca Aframax Corp. November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ (40) (15) (60) (115) 1,477 119 1,481 $ $ (39) (4) (43) 1,477 119 1,553 $ $ 3,455 687 579 4,721 31,966 1,186 (1) 37,873 $ $ 1,413 691 176 2,280 31,966 1,186 1,716 (1) 37,147 $ $ 1,711 883 409 3,003 14,591 66 (5) 17,655 $ $ 568 975 99 1,641 14,591 66 681 (15) 16,964 $ $ 2,422 44 479 2,945 26,495 1,332 30,772 $ $ 844 135 469 1,449 26,495 1,332 1,393 30,668 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 71 71 285 285 214 214 -
100 100
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 71 285 214
100
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 1,337 1,337 1,337 1,408 1,337 1,337
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 144 1,481 $
145 1,553 $
9,288 37,873 $
8,633 37,147 $
(786) 17,655 $
(1,477) 16,964 $
6,999 30,772 $
6,995 30,668 $
727 2,608 $
728 2,609
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
DHT Regal Unity VLCC Corp. November 13, February 28, 2012 2013
DHT Sophie Aframax Corp. November 13, February 28, 2012 2013
Eighth Aframax Tanker Corporation November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 1,247 750 1,997 10,664 2,601 15,262 $ $ $ $ 228 750 978 10,664 2,601 948 15,190 $ $ 581 865 (31) 1,415 10,543 8 0 11,965 $ $ 545 858 1,402 10,543 8 3 0 11,956 $ $ 3,016 8 511 3,534 483 1,422 1,905 9,160 26 14,624 $ $ 2,438 57 293 2,787 9,160 12 11,959 $ -
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 7 7 31 31
162 162
87 87
119 119
125 125
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 7 31
162
237 325
119
125
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 16,475 16,475 16,475 16,475 16,475 16,475
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (1,213) 15,262 $
(1,284) 15,190 $
(547) 11,965 $
(580) 11,956 $
(11,944) 14,624 $
(14,772) 11,959 $
763 33,715 $
337 33,295
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
First Chemical Carrier Corporation November 13, February 28, 2012 2013 First LPG Tanker Corporation November 13, February 28, 2012 2013 First Union Tanker Corporation November 13, February 28, 2012 2013
Fourth Aframax Tanker Corporation November 13, February 28, 2012 2013
$ 22 (0)
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ 1 $ 1,703 73 42 1,819 56,928 56,928 2,383 290 61,419 $ 335 357 5,755 6,113 $ 444 444 5,755 6,199 $ 1 $ 1,416 82 52 1,550 56,254 56,254 2,383 36 317 60,540 $ $ 287 0 (0) 0 288 7,053 7,341 $ $ 287 0 (0) 0 288 7,053 7,341 $ $ 2,635 7 107 2,749 38,368 2,032 40,401 21,750 117 421 65,438 $ $ 3,363 (0) 79 3,442 37,545 1,737 39,282 21,750 117 471 65,063 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 423 423 264 264 2,054 2,054 737 737
995 995
995 995
525 525
440 440
0 0
0 0
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 423 392 657 2,054 393 1,130
995
995
525
629 1,070
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 7,606 34 36,973 44,613 45,036 45,026 7,606 34 36,730 44,370
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 16,383 61,419 $
15,514 60,540 $
(4,058) 6,113 $
(3,047) 6,199 $
531 7,341 $
531 7,341 $
53,530 65,438 $
52,610 65,063 $
29,772 29,772 $
29,774 29,774
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ 1 $ 2,991 179 90 3,261 105,641 105,641 65,978 0 380 175,261 $ 1 $ 4,101 169 114 4,386 104,529 300 104,828 65,978 0 476 365 176,034 $ $ 2,099 0 33 2,132 34,252 1,546 35,798 641 19,307 8 67 57,955 $ $ 2,230 10 37 2,277 33,641 1,711 35,352 641 19,307 8 731 39 58,356 $ $ 1,818 25 470 2,312 77 16 93 1,460 9,871 (185) 13,551 $ $ 1,444 32 122 1,597 246 10 256 1,460 9,871 (327) 12,857 $ $ 1,564 242 1,806 300 6,486 2 8,594 $ $ 1,828 468 2,296 300 6,486 2 9,084 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 239 239 398 398 39 39 410 410
224 224
509 509
1 1
5 5
47 47
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 239 39 560 853 1,812 410
(1,626) (1,402)
876 1,385
448 449
3,568 3,615
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 12,424 3 69,042 81,469 81,708 82,826 12,424 3 68,588 81,014
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 93,553 175,261 $
93,208 176,034 $
40,757 57,955 $
40,787 58,356 $
(6,905) 13,551 $
(10,385) 12,857 $
(918) 8,594 $
(876) 9,084 $
(7,448) 22,274 $
(9,526) 23,805
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Joyce Car Carrier Corporation November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 2,067 21 29 2,116 35,721 1,321 37,042 420 33,198 5,584 (34) 78,326 $ $ 2,202 19 36 2,257 35,059 1,313 36,372 420 33,198 5,584 1,132 (34) 78,929 $ $ (19) 0 (19) 27,330 (198) 27,112 $ $ (19) 2 (17) 27,330 (98) 27,215 $ $ 10,114 10,114 $ $ 10,114 10,114 $ $ 2,143 21 524 240 2,928 982 164 1,146 13,389 (22) 17,441 $ $ 1,082 (4) 267 447 1,791 930 103 1,033 13,389 195 (22) 16,386 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 53 53 436 436 56 56 112 112 -
719 719
283 283
99 99
545 545
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 53 56 436 42 154
719
283
99
545
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 6,402 32,050 38,453 38,506 38,889 6,402 32,050 38,453
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 39,820 78,326 $
40,040 78,929 $
21,498 27,112 $
21,503 27,215 $
2,000 10,114 $
2,000 10,114 $
(6,696) 17,441 $
(7,314) 16,386 $
40,468 55,771 $
40,499 56,249
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Leyte Product Tanker Corporation November 13, February 28, 2012 2013 Limar Charter Corporation November 13, February 28, 2012 2013
Luxmar Product Tanker Corporation November 13, February 28, 2012 2013
0 12 12 0 0
21 -
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 2,865 259 273 3,397 19,471 22,868 $ $ 1,803 675 491 2,969 19,471 392 22,831 $ $ 2,668 23 479 27 3,198 55,430 55,430 6,981 11 263 65,882 $ $ 696 44 42 783 54,792 54,792 6,981 11 2,076 254 64,897 $ $ 812 27 206 246 1,290 199 3,322 3,521 8,467 (26) 13,253 $ $ (279) 275 (0) 199 194 8,467 282 (55) 8,889 $ $ 410 52 (9) 454 23,904 482 24,386 24,007 48,847 $ $ 976 (16) 719 22 1,701 23,360 1,589 24,949 24,007 50,657 $
56,792 13 56,818 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 745 745 809 809 1,398 1,398 105 105
1,021 1,021
603 603
636 636
708 708
121 121
169 169
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 745 809 1,398 137 176 418
972 60 2,053
603
636
1,871 2,579
121
105 275
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 23,812 23,812 24,557 24,621 23,812 23,812
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (1,689) 22,868 $
(1,789) 22,831 $
(2,482) 65,882 $
(2,513) 64,897 $
(15,223) 13,253 $
(18,271) 8,889 $
12,600 48,847 $
12,466 50,657 $
24,346 56,818 $
24,304 56,930
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Maremar Product Tanker Corporation November 13, February 28, 2012 2013 Maremar Tanker LLC November 13, February 28, 2012 2013
Case 12-20000-PJW
99 9 108 $ 99
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ $ 2,926 21 86 3,032 40,698 2,099 42,797 11,354 (2) 57,181 $ 6 105 $ $ 3,485 50 78 3,613 39,785 1,727 41,512 11,354 12 (2) 56,488 $ 1 $ (430) 86 62 (282) 141,583 141,583 3,629 40 1,143 146,113 $ 1 $ (153) 124 101 73 140,016 140,016 3,629 40 495 1,113 145,366 $ $ 3,112 427 198 36 3,772 24,600 310 24,910 40,336 (216) 68,802 $ $ 1,148 77 747 8 1,979 24,006 189 24,195 40,336 2,559 26 69,096 $
Doc 1167
$ 901 52 953 $
901 52 953
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 461 461 329 329 424 424 223 223 -
726 726
1,212 1,212
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 461 329 424 947 475 1,644
726
1,212
7 1 8 147,081 147,729 8
7 1 8 8
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 10,471 16 10,487 10,949 10,816 10,471 16 10,487
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 46,232 57,181 $
45,672 56,488 $
(968) 146,113 $
(2,362) 145,366 $
100 108 $
97 105 $
37,064 68,802 $
36,873 69,096 $
953 953 $
953 953
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Maritrans General Partner Inc. November 13, February 28, 2012 2013
Maritrans Operating Company L.P. November 13, February 28, 2012 2013 Mindanao Tanker Corporation November 13, February 28, 2012 2013
Milos Product Tanker Corporation November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ (385) (385) $ $ (385) (385) $ $ 53,629 53,629 $ $ 53,629 53,629 $ $ 1,078 (12) 733 25 1,824 42,284 42,284 0 44,109 $ $ 1,303 (21) 38 1,320 41,802 41,802 0 2,313 45,435 $ $ 34,414 34,414 5 135 34,554 $ $ 35,529 35,529 5 135 35,669 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise -
114 114
432 432
277 277
1,114 1,114
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise -
114
432
277
1,114
7 7
7 7
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 146 146 146 146 146 146
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (531) (385) $
(531) (385) $
53,622 53,629 $
53,622 53,629 $
1,936 44,109 $
2,944 45,435 $
100 34,554 $
100 35,669 $
21,457 96,023 $
22,579 97,983
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Ocean Bulk Ships, Inc. November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 1,553 (5) 333 256 2,137 47 1,379 1,426 12,466 2 (41) 15,991 $ $ $ $ 692 349 49 1,089 12,466 2 (41) 13,516 $ 1 $ (234) 115 61 (57) 138,736 138,736 3,788 422 0 1,197 144,086 $ 1 $ 168 103 102 374 137,172 137,172 3,788 422 0 319 1,165 143,241 $ $ 2,100 114 96 2,310 79,751 168 79,920 84,867 167,097 $ $ 2,379 116 117 2,612 78,619 21 78,640 84,867 166,119 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 591 591 209 209 325 325 267 267 -
102 102
175 175
440 440
829 829
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 1,339 197 2,127 62 271 325 417 443 1,127
102
217 392
440
829
15 15 148,171 148,415 15
15 15 15
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 24,337 9 24,346 26,473 24,860 24,337 9 242 24,588
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (10,482) 15,991 $
(11,343) 13,516 $
(4,085) 144,086 $
(5,174) 143,241 $
(15) $
(15) 0 $
156,325 167,097 $
155,057 166,119 $
21,853 37,244 $
23,670 39,449
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ (9) 265 5 261 22,021 1,099 23,121 24,400 19 47,801 $ $ 2 265 31 298 21,524 946 22,470 24,400 2,181 49,348 $ $ 34 298 5 337 18,892 1,762 20,653 14,836 35,826 $ $ 6 309 28 344 18,434 1,402 19,836 14,836 2,693 37,708 $ $ 124 124 $ $ 124 124 $ $ 1,551 284 315 5 2,155 29,890 746 30,636 29,932 17 62,739 $ $ 133 251 33 416 29,315 575 29,890 29,932 5,099 17 65,354 $
$ 1,820 60 166 15 2,061 31,327 703 32,030 2,761 25,647 (94) 62,405 $
946 60 369 30 1,405 30,767 1,576 32,343 4,041 25,647 4,469 (50) 67,855
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 464 464 43 43 398 398 828 828 -
1,084 1,084
44 44
20 20
342 342
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 464 43 398 828
1,084
44
20
2,134 2,476
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 54 11,106 11,160 11,624 11,203 54 11,106 11,160 -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 36,177 47,801 $
38,144 49,348 $
26,477 35,826 $
27,929 37,708 $
(0) 124 $
(0) 124 $
52,872 62,739 $
56,527 65,354 $
52,314 62,405 $
54,029 67,855
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Case 12-20000-PJW
84 84 $ 84 $ 84
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ $ 68 276 5 350 16,006 1,102 17,108 27,376 44,834 $ $ 36 276 27 339 15,416 908 16,324 27,376 2,368 46,408 $ $ 1,600 328 278 5 2,211 18,995 1,152 20,147 18,417 (7) 40,769 $ $ 193 300 31 523 18,442 870 19,313 18,417 5,228 43,481 $ $ 247 5 252 21,186 1,870 23,056 22,276 45,584 $ $ 10 247 31 287 20,548 2,311 22,859 22,276 1,720 47,142 $
Doc 1167
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 474 474 66 66 386 386 64 64
1 1
94 94
(1) (1)
6 64 1 94 (1) 6
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 474 66 386 -
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 51 11,421 11,472 11,946 11,538 51 11,421 11,472 -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 32,888 44,834 $
34,869 46,408 $
38,457 40,769 $
41,492 43,481 $
39,535 45,584 $
41,000 47,142 $
84 84 $
84 84 $
16,764 22,996 $
16,757 22,996
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
OSG America Operating Company LLC November 13, February 28, 2012 2013 OSG Car Carriers, Inc. November 13, February 28, 2012 2013
OSG Clean Products International, Inc. November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ $ 0 458 459 $ 0 458 459 $ 23,350 $ (1,501) (1) 21,847 995 64,617 423,001 834,346 1 1,344,807 $ 64,087 $ 64,087 38 63,250 423,001 834,346 1 21,095 1,405,817 $ $ 6,682 205 6,887 $ $ 6,682 205 6,887 $
$ 100 100 $
100 100
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise -
16 16
19 19
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise -
16
79 79 79 79 79 79
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (79) $
(79) $
459 459 $
459 459 $
522,721 1,344,807 $
525,336 1,405,817 $
(13) 6,887 $
(13) 6,887 $
100 100 $
100 100
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
OSG Delaware Bay Lightering LLC November 13, February 28, 2012 2013
$ 26 26 10 10
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ 4 29 7,024 602 7,626 2,435 10,091 $ 17 42 6,900 464 7,365 2,435 9,842 $ $ 1,070 0 1,070 $ 4 14 30,264 30,264 2,062 (2) 32,339 $ 28 38 29,996 29,996 2,062 (1) 32,094 $ $ 1,070 3 1,073 $ $ 5,421 63 710 47 6,241 382,438 382,438 15,144 104,456 0 508,278 $ $ 3,255 124 1,035 230 4,644 378,615 638 379,253 15,144 104,456 12,300 (39) 515,757 $
$ 1,272 1,272 $
1,272 1,272
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 125 125 89 89 2 2 3 3
140 140
100 100
598 598
1,293 1,293
21 21
2 2 5
49 21 49
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 125 819 908 -
140
875 974
598
3,927 5,220
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 33 9,323 9,355 9,480 10,264 33 9,323 9,355 -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 611 10,091 $
(422) 9,842 $
(3,508) 1,070 $
(3,508) 1,073 $
14,986 32,339 $
13,907 32,094 $
418,506 508,278 $
421,363 515,757 $
743 1,272 $
715 1,272
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
$ 23 23 10 10 -
Case 12-20000-PJW
16 $
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ $ 4 27 32,214 32,214 69 (30) 32,280 $ 16 10,251 731 10,999 $ 28 51 31,927 31,927 69 (29) 32,018 $ 4 14 4,238 1,494 5,732 3,140 9 8,895 $ 15 25 4,152 1,191 5,343 3,140 2 8,510 $ 197 $ 197 10,251 377 10,825 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 145 145 96 96
189 189
92 92
(7) (7)
(2) (2)
16 16
22 (7) 20
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 145 818 914
189
877 969
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 111 310 421 421 437 111 310 421
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (421) $
(437) $
16,452 32,280 $
15,420 32,018 $
257 8,895 $
(908) 8,510 $
1,541 10,999 $
1,368 10,825 $
(1,462) 2,312 $
(2,809) 992
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
$ 16 16 14 14 13 12
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ 4 20 3,802 848 4,649 2,458 (3) 7,124 $ 15 32 3,711 730 4,440 2,458 (3) 6,927 $ 4 18 6,615 311 6,926 246 1 0 7,191 $ 16 30 6,498 727 7,225 246 1 0 7,503 $ 4 17 2,897 1,219 4,116 2 (8) 4,126 $ 15 27 2,787 1,239 4,025 2 22 4,075 $ $ 9,493 1 (9) 9,485 $ $ 9,493 1 1 (9) 9,486 $
3,502 $ 10,331 10,758 3,464 1,893 29,948 47,653 2,465 50,118 7,190 8,101 128,737 137,738 107 361,940 $
7,890 11,206 5,768 4,130 1,274 30,267 46,184 3,273 49,458 7,042 8,101 128,737 137,738 95 361,438
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 143 143 105 105 270 270 240 240
134 134
122 122
(1) (1)
4,100 4,100
6,834 6,834
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 143 852 958 270 1,327 1,568
134
1,277 1,399
(1)
4,100
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 31 8,722 8,753 8,896 9,711 31 8,722 8,753 -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (1,772) 7,124 $
(2,783) 6,927 $
(19) 7,191 $
(1,006) 7,503 $
(3,321) 4,126 $
(4,637) 4,075 $
(1,313) 9,485 $
(1,313) 9,486 $
10,485 361,940 $
6,710 361,438
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013 OSG Lightering Acquisition Corporation November 13, February 28, 2012 2013 OSG Lightering Solutions LLC November 13, February 28, 2012 2013 OSG Mariner LLC November 13, February 28, 2012 2013 OSG Maritrans Parent LLC November 13, February 28, 2012 2013
18 -
18 -
Case 12-20000-PJW
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets 606 103,806 $ 104,411 $ $ $ 2,000 2,000 $ $ $ 2,000 2,000 $ $ 1,567 2,650 4,216 $ $ 1,567 2,650 4,216 $ $ 583 103,806 104,389 $
Doc 1167
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise -
167 167
93 93
16 16
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise -
167
854 948
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 1,999 1,999 1,999 1,999 1,999 1,999
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 1 2,000 $
1 2,000 $
1,567 4,216 $
1,567 4,216 $
(422) $
(438) (0) $
(15,930) 104,411 $
(15,952) 104,389 $
(3,523) 3,476 $
(4,543) 3,236
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
OSG New York, Inc. November 13, February 28, 2012 2013
OSG Product Tankers AVTC, LLC November 13, February 28, 2012 2013 OSG Product Tankers I, LLC November 13, February 28, 2012 2013 OSG Product Tankers II, LLC November 13, February 28, 2012 2013
OSG Product Tankers Member LLC November 13, February 28, 2012 2013
Case 12-20000-PJW
1 -
1 -
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 5,178 352 781 6,311 300 21,479 28,090 $ $ $ $ $ $ 5,062 919 1,061 7,043 300 21,479 666 29,488 $ $ 100 100 $ $ 100 100 $ -
1 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 506 506 410 410 -
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 506 2,013 2,424 -
8 8 8 (8) $
8 8 8 (8) $
8 8 8 (8) $
8 8 8 (8) $
1 1 1 1 $
1 1 1 1
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 26,292 10,719 37,011 37,517 39,434 26,292 10,719 37,011
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (9,427) 28,090 $
(9,946) 29,488 $
100 100 $
100 100 $
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
OSG Product Tankers, LLC November 13, February 28, 2012 2013
OSG Ship Management, Inc. November 13, February 28, 2012 2013
Case 12-20000-PJW
64 64 $ 64 $ 64
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ $ $ $ 1,000 1,000 $ $ 1,000 0 1,001 $ 1,431 $ 1,773 2,832 6,036 12,623 12,623 139 193,029 993 117 212,936 $ 463 $ 391 2,508 3,362 11,702 11,702 139 193,109 912 3,790 69 213,084 $
Doc 1167
$ 1,163 1,163 $
1,163 1,163
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 4 4 -
9,813 9,813
7,992 7,992
16 4 16
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise -
3,157 12,970
16 16 16 16 16 16
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (16) $
(16) $
(140) 64 $
(153) 64 $
631 1,000 $
631 1,001 $
(190,740) 212,936 $
(203,359) 213,084 $
88 1,163 $
88 1,163
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Overseas Galena Bay LLC November 13, February 28, 2012 2013
$ 13 28
Case 12-20000-PJW
2 2 $ 2 $ 2
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ $ $ $ $ 450 492 274 4 279 42,388 30 2,141 45,329 $ 19 823 842 245 12 257 42,388 30 1,714 2,052 47,282 $ 21 448 468 171 606 776 40,291 1,159 42,695 $ 41 821 862 142 495 637 40,291 1,064 42,854 $ $ 137 137 311 2 451 $ $ 137 137 311 2 451 $
Doc 1167
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 1,193 1,193 1,992 1,992
1,192 1,192
221 221
(0) (0)
(0) (0)
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 1,193 1,992
1,192
360 581
(0)
(0)
2 2 2 2 2 2
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise -
0 2 $
8,343 45,329 $
9,497 47,282 $
5,382 42,695 $
6,152 42,854 $
103 451 $
103 451 $
4,179 4,744 $
4,179 4,744
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Overseas Long Beach LLC November 13, February 28, 2012 2013
Overseas Los Angeles LLC November 13, February 28, 2012 2013
$ 8 -
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 289 357 646 143 2,793 2,936 35,162 601 39,345 $ 8 1,150 1,157 $ $ 303 691 994 116 2,602 2,718 35,162 585 39,458 $ $ 1,150 59 1,209 $ $ 307 357 664 164 2,195 2,359 35,775 3 588 39,388 $ $ 313 691 1,004 133 2,054 2,187 35,775 3 560 39,528 $ $ 358 360 719 167 2,489 2,656 34,432 3 921 38,730 $ $ 223 691 914 142 2,338 2,479 34,432 3 903 38,731 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 990 990 243 243 -
1,268 1,268
512 512
1,881 1,881
926 926
1,207 1,207
1,926 1,926
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 5,875 6,865 385 6,202 6,830 -
5,458 6,726
5,016 6,897
1,207
1,926
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 96 33,329 33,425 40,289 40,255 96 33,329 33,425 -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (944) 39,345 $
(796) 39,458 $
225 1,157 $
277 1,209 $
600 39,388 $
774 39,528 $
(1,551) 38,730 $
(1,418) 38,731 $
8,104 17,860 $
8,847 19,322
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Overseas New Orleans LLC November 13, February 28, 2012 2013
Overseas New York LLC November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 211 211 3,717 3,928 $ 30 448 477 244 891 1,134 39,256 1,246 42,113 $ 25 821 846 199 730 929 39,256 1,195 42,225 $ $ 211 211 3,717 3,928 $ $ 119 357 476 51 209 260 35,303 6,190 1,189 43,418 $ $ 112 693 805 45 176 221 35,303 6,190 1,141 43,660 $ $ 383 383 $ $ 383 383 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 11 11 11 11 1,043 1,043 312 312
1,239 1,239
266 266
5 11 16
1 1
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 4,570 5,613 474 4,897 5,683
1,239
322 588
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 28 459 488 498 503 28 459 488 -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 3,430 3,928 $
3,425 3,928 $
987 43,418 $
1,160 43,660 $
5,606 42,113 $
6,369 42,225 $
4 383 $
4 383 $
(65) 875 $
(65) 877
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Overseas Puget Sound LLC November 13, February 28, 2012 2013
Overseas Sea Swift Corporation November 13, February 28, 2012 2013
Overseas Shipping (GR) Ltd. November 13, February 28, 2012 2013
10 51
7 7
Case 12-20000-PJW
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ 222 222 10,663 10,885 $ $ 222 222 10,663 10,885 $ $ 432,713 370,028 314,966 1,117,707 $ $ 211 188 36 436 244,259 235 244,494 96,424 6 88 341,448 $ $ 198 177 165 540 241,185 255 241,440 96,424 6 8,039 184 346,634 $
Doc 1167
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 18 18 -
5 5
3,003 3,003
752 752
1,186 1,186
2,054 2,054
29 18 29
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise -
3,003
752
1,186
2,054
7 7
7 7
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 31 6,220 6,251 6,269 6,279 31 6,220 6,251
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 4,616 10,885 $
4,606 10,885 $
2 9 $
2 9 $
1,111,770 1,117,796 $
1,111,686 1,117,707 $
179,876 341,448 $
187,312 346,634 $
334 8,387 $
1,618 10,538
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Overseas Texas City LLC November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ (30) 358 328 9 309 318 41,721 1,584 43,952 $ 82 693 775 9 227 235 41,721 2,734 1,515 46,982 $ $ 2,457 21 29 2,507 35,337 1,450 36,787 440 32,776 5,550 78,059 $ $ 2,205 31 36 2,271 34,688 1,341 36,030 440 32,776 5,550 1,139 78,205 $ $ 1,407 10 421 27 1,865 24,544 1,497 26,041 13,809 (40) 41,675 $ $ 2,964 4 547 30 3,546 24,068 1,377 25,445 13,809 (21) 42,779 $ $ 1,982 248 282 2,512 20,752 (1) 23,264 $ $ 1,375 737 514 2,625 20,752 (11) 23,366 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 1,050 1,050 2,272 2,272 373 373 550 550
67 67
481 481
84 84
657 657
438 438
560 560
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 4,079 5,129 4,406 6,678 373 550
67
570 1,050
84
269 926
438
1,343 1,903
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 98 29,053 29,152 34,280 35,829 98 29,053 29,152 -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 9,671 43,952 $
11,153 46,982 $
40,360 78,059 $
40,329 78,205 $
27,089 41,675 $
27,210 42,779 $
(989) 23,264 $
(1,729) 23,366 $
(2,800) 23,088 $
(3,377) 23,977
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013 Queens Product Tanker Corporation November 13, February 28, 2012 2013 Reymar Limited November 13, February 28, 2012 2013 Rich Tanker Corporation November 13, February 28, 2012 2013 Rimar Chartering Corporation November 13, February 28, 2012 2013
$ 94 (8) (0) -
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 418 11 658 34 1,122 4,141 47,372 3 52,639 $ 86 4,141 47,372 559 52,159 $ $ 2,373 (7) 29 2,395 37,449 331 37,780 414 26,868 11,856 (33) 79,279 $ $ 1,771 1 40 1,812 36,853 297 37,150 414 26,868 11,856 896 (133) 78,861 $ $ 2,779 9 243 3,031 15,814 18,845 $ $ 3,553 85 591 202 4,430 15,814 20,244 $ $ 598 53 192 303 1,147 269 387 656 52,488 (96) 54,195 $ $ 299 403 0 329 1,031 52,488 (44) 53,476 $
3,401 257 88 3,746 51,354 217 51,571 10,179 369 (23) 65,842
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 431 431 31 31 59 59 313 313
367 367
396 396
350 350
328 328
301 301
301 301
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 431 31 59 313
511 878
4,284 4,633
2,449 2,777
301
686 987
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 23,799 47,711 71,510 71,941 71,541 23,799 47,711 0 71,510
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (19,302) 52,639 $
(19,382) 52,159 $
46,044 79,279 $
45,371 78,861 $
(1,576) 18,845 $
(1,581) 20,244 $
(8,004) 54,195 $
(6,867) 53,476 $
58,534 65,241 $
58,448 65,842
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Samar Product Tanker Corporation November 13, February 28, 2012 2013
$ 24 11 12 (1)
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ 34 69 35,909 1,270 37,179 25,954 (38) 63,163 $ 38 49 35,263 1,415 36,679 25,954 470 63,151 $ $ 66 445 2 513 34,354 1,392 35,746 39,950 18 76,226 $ $ 714 445 0 1,159 33,738 1,348 35,085 39,950 18 505 76,717 $ $ 2,925 61 94 3,080 47,915 1,970 49,885 9,838 0 (33) 62,770 $ $ 3,771 11 80 3,862 47,215 1,805 49,020 9,838 0 659 (33) 63,347 $ $ 226 33 30 289 55,715 55,715 1,349 230 57,583 $ $ (19) 42 23 55,076 55,076 1,349 1,187 222 57,857 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 247 247 481 481 652 652 862 862
260 260
200 200
438 438
469 469
30 30
427 427
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 247 481 652 862
260
200
438
30
427
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 6,632 18,287 24,919 25,166 25,400 6,632 18,287 24,919
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 37,996 63,163 $
37,751 63,151 $
45,271 76,226 $
45,552 76,717 $
53,559 62,770 $
54,195 63,347 $
(44) 57,583 $
(95) 57,857 $
21,971 96,365 $
23,800 98,592
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
Seventh Aframax Tanker Corporation November 13, February 28, 2012 2013 Shirley Tanker SRL November 13, February 28, 2012 2013 Sifnos Tanker Corporation November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 1,537 (4) 240 1,773 935 4 938 5,941 0 10 8,663 $ $ 656 278 (0) 161 1,095 883 883 5,941 0 294 62 8,276 $ $ 1,417 16 47 1,480 22,496 1,887 24,384 9,979 1 66 35,909 $ $ 984 25 44 1,052 22,140 1,746 23,886 9,979 1 309 46 35,272 $ 10 $ 1,727 10 23 1,770 42,556 1,389 43,945 875 10,555 156 57,301 $ 4 $ 1,353 20 43 1,420 41,608 1,246 42,854 875 10,555 158 55,862 $ $ 1,549 3 240 1,792 1,040 (0) 1,040 5,840 15 8,687 $ $ 1,847 (17) 448 2,278 985 10 995 5,840 62 9,176 $
$ 2,047 (16) 29 2,061 34,297 1,564 35,861 703 17,433 0 (12) 56,046 $
2,201 (16) 36 2,221 33,686 1,936 35,622 703 17,433 0 686 (18) 56,648
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 45 45 172 172 220 220 237 237
1,282 1,282
638 638
44 44
39 39
57 57
407 407
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 45 172 220 237
1,282
44
811 851
57
407
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 11,875 8 11,884 11,929 12,056 11,875 8 11,884
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (3,266) 8,663 $
(3,781) 8,276 $
699 35,909 $
45 35,272 $
(7,038) 57,301 $
(8,800) 55,862 $
(3,487) 8,687 $
(3,805) 9,176 $
41,238 56,046 $
41,491 56,648
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013 Sixth Aframax Tanker Corporation November 13, February 28, 2012 2013 Star Chartering Corporation November 13, February 28, 2012 2013 Skopelos Product Tanker Corporation November 13, February 28, 2012 2013 Suezmax International Agencies, Inc. November 13, February 28, 2012 2013
$ 19 19
Case 12-20000-PJW
$ 459 6
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ 41 506 21,356 1,279 22,635 8,513 37 31,690 $ $ 245 (10) 43 278 21,008 1,143 22,151 8,105 596 42 31,172 $ 241 260 8,855 9,116 $ 457 476 8,855 9,331 $ $ 1,715 33 598 220 2,565 32,130 (2) 32,128 19,977 2 54,673 $ $ 881 16 635 38 1,569 31,742 29 31,771 19,977 2 1,774 (20) 55,074 $ $ 14,133 522 1,416 16,071 2,864 35,592 486 55,012 $ $ 12,142 89 2,281 14,512 1,350 35,592 486 354 52,294 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 743 743 209 209 148 148 400 400
240 240
447 447
616 616
52 52
53 53
271 271
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 743 209 148 400
240
16 464
563 1,179
633 686
693 965
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 5,769 80 5,849 6,592 6,058 5,769 80 5,849
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 25,098 31,690 $
25,115 31,172 $
37,429 54,673 $
37,579 55,074 $
24 9,116 $
16 9,331 $
(4,167) 55,012 $
(5,911) 52,294 $
(7,518) 15,042 $
(8,782) 14,056
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013 Third United Shipping Corporation November 13, February 28, 2012 2013 Tokyo Transport Corp. November 13, February 28, 2012 2013 Transbulk Carriers, Inc. November 13, February 28, 2012 2013 Troy Chartering Corporation November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 105,125 105,125 $ $ 105,125 105,125 $ $ 3,339 18 92 3,449 50,753 1,950 52,703 10,324 (6) 66,470 $ $ 3,500 64 87 3,651 49,963 1,810 51,773 10,324 616 (15) 66,349 $ $ 295 295 $ $ 295 295 $ $ 173 13 344 531 1,101 1,101 30,356 (35) 31,953 $ $ 408 630 263 1,301 30,356 (35) 31,622 $
$ 58,765 58,765 $
58,765 58,765
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 326 326 236 236 -
68 68
169 169
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 326 236
708 776
1,607 1,776
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ 105,125 105,125 $
105,125 105,125 $
57,649 66,470 $
57,618 66,349 $
85 295 $
85 295 $
(15,919) 31,953 $
(17,250) 31,622 $
420 58,765 $
420 58,765
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013
$ 13 13
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets $ $ 1,574 243 1,817 300 19,341 (9) 21,448 $ 13 5,080 87 5,179 $ 13 5,080 87 5,179 $ $ 1,928 236 2,164 300 19,341 (9) 21,796 $ $ 2,869 186 3,055 7,323 54 10,432 $ $ 3,103 80 (0) 376 3,559 7,323 54 10,935 $ $ 21,117 21,117 $ $ 21,117 21,117 $
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 27 27 26 26 20 20 20 20
764 764
797 797
549 549
597 597
26 20 46
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 500 526 208 718 951 -
511 1,275
549
866 1,463
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 23,602 3 23,604 24,131 24,556 23,602 3 23,604
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (2,683) 21,448 $
(2,760) 21,796 $
3,023 5,179 $
2,997 5,179 $
(2,283) 10,432 $
(2,362) 10,935 $
6,627 21,117 $
6,627 21,117 $
(410) 25,757 $
(420) 26,661
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013 Wind Aframax Tanker Corporation November 13, February 28, 2012 2013 Eliminations November 13, February 28, 2012 2013 Consolidated Debtors November 13, February 28, 2012 2013 Combined Debtors November 13, February 28, 2012 2013
Case 12-20000-PJW
Doc 1167
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets 398,725 $ 168,830 70,348 14,150 46,596 698,648 3,147,915 73,898 3,221,813 247,664 72,413 9,668 5,432,119 448,108 5,846,820 2,233,518 20,819 18,231,591 $ 502,703 166,378 63,868 16,860 47,980 797,789 3,099,241 64,502 3,163,743 264,846 70,875 9,668 5,432,045 392,106 5,847,296 2,233,404 1,961 166,001 20,470 18,400,204 398,725 $ 168,830 70,348 14,150 46,596 698,648 3,147,915 73,898 3,221,813 247,664 72,413 9,668 (7,116) 88,268 2,233,518 20,849 6,585,726 $ 502,703 166,378 63,868 16,860 47,980 797,789 3,099,242 64,502 3,163,744 264,846 70,875 9,668 (7,089) 27,794 2,233,404 1,961 20,500 6,583,492
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 0 0 0 0 73,627 73,627 82,381 82,381
62 62
62 62
73,689 73,689
82,444 82,444
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 0 0 5,457 32,839 111,923
62
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 0 0 -
61 61
6,917,615 18,231,591 $
6,901,099 18,400,204
(5,439,267) (11,645,865) $
(5,439,165) (11,816,712)
1,478,348 6,585,726 $
1,461,933 6,583,492
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets
Appendix C Overseas Shipholding Group, Inc. Unaudited Condensed Consolidating Balance Sheets As of November 13, 2012 and February 28, 2013 Total Non-debtors November 13, February 28, 2012 2013 Eliminations November 13, February 28, 2012 2013 Consolidated Overseas Shipholding Group, Inc. November 13, February 28, 2012 2013
Case 12-20000-PJW
($000s) ASSETS Current Assets: Cash and cash equivalents Voyage receivables Other receivables Inventory Prepaid expenses and other current assets Total Current Assets Vessels and other property, less accumulated depreciation Deferred drydock expenditures, net Total Vessels, Deferred Drydock and Other Property Investments in Affiliated Companies Intangible Assets, less accumulated amortization Goodwill Investments in subsidiaries Intercompany loans receivable and accrued interest Pre-petition intercompany receivables from debtors Pre-petition Intercompany receivables from non-debtors Post-petition intercompany receivables from non-debtors Post-petition Intercompany receivables from debtors Other Assets Total Assets (44,278) (2,142,541) (2,233,404) (1,961) (9,903) (4,432,087) $ $ $ 79,248 $ 2,923 10,321 40 92,533 (12,092) (12,092) 300 242 (79) 7,116 16,484 2,142,541 (271) 2,246,773 $ $ 41,180 1,387 (6,237) 333 36,663 (11,799) (11,799) 300 236 (79) 7,089 16,484 2,142,541 9,903 (429) 2,200,910 $ (104,752) (2,142,541) (2,233,518) (4,480,811) $ 477,973 $ 171,753 80,669 14,150 46,636 791,181 3,135,823 73,898 3,209,721 247,964 72,655 9,589 0 20,579 4,351,689 $ 543,883 167,765 57,631 16,860 48,313 834,452 3,087,442 64,502 3,151,944 265,146 71,111 9,589 (0) 20,072 4,352,314
Doc 1167
Filed 04/15/13
LIABILITIES AND EQUITY Current Liabilities Not Subject to Compromise: Accounts payable, accrued expenses and other current liabilities Total Current Liabilities Not Subject to Compromise 19,478 19,478 36,243 36,243 -
93,168 93,168
118,687 118,687
Noncurrent Liabilities Not Subject to Compromise: Intercompany loans payable and accrued interest Post-petition intercompany payables to non-debtors Post-petition intercompany payables to other debtors Deferred Gain/(loss) on Sale and Leaseback of Vessels Other Liabilities Total Liabilities Not Subject to Compromise 88,268 2,233,518 6,201 2,347,466 27,794 2,235,365 4,880 2,304,283 (88,268) (2,233,518) (2,321,786)
0 40,068 158,755
Liabilities Subject to Compromise: Pre-petition intercompany loans payable and accrued interest Pre-petition intercompany payables to non-debtors Pre-petition intercompany payables to other debtors Other liabilities Total Liabilities Subject to Compromise 2,347,466 2,304,283 -
Total Liabilities Equity: Total Equity Total Liabilities and Equity $ (100,693) 2,246,773 $
(103,373) 2,200,910
(4,480,811) $
(4,432,087)
1,377,656 4,351,689 $
1,358,560 4,352,314
See Notes to Unaudited Condensed Consolidating Statements of Operations and Balance Sheets