Overseas Shipholding Group, Inc. - Ordinary Shares (OSG) 10-Q12 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2014	5-May-14
Document Information [Line Items]	'	'
Entity Registrant Name	'OVERSEAS SHIPHOLDING GROUP INC	'
Entity Central Index Key	'0000075208	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Accelerated Filer	'
Trading Symbol	'OSGIQ	'
Entity Common Stock, Shares Outstanding	'	30,672,406
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2014	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current Assets:	'	'
Cash and cash equivalents	$638,677	$601,927
Voyage receivables, including unbilled of $113,251 and $113,336	143,941	147,964
Income tax recoverable	11,646	3,952
Other receivables	15,337	16,838
Inventories, prepaid expenses and other current assets	44,947	41,168
Deferred income taxes	5,464	5,464
Total Current Assets	860,012	817,313
Vessels and other property, including construction in progress of $61,278 and $54,644, less accumulated depreciation of $555,372 and $524,948	2,331,454	2,359,352
Deferred drydock expenditures, net	54,065	57,248
Total Vessels, Deferred Drydock and Other Property	2,385,519	2,416,600
Investments in affiliated companies	325,777	323,327
Intangible assets, less accumulated amortization of $34,335 and $33,164	58,996	60,167
Other assets	28,035	27,087
Total Assets	3,658,339	3,644,494
Current Liabilities:	'	'
Accounts payable, accrued expenses and other current liabilities	122,474	121,582
Income taxes payable, including reserve for uncertain tax positions of $234,623 and $234,623	256,709	256,258
Total Current Liabilities	379,183	377,840
Reserve for uncertain tax positions	26,685	26,585
Deferred income taxes	378,362	369,954
Other liabilities	43,132	42,189
Liabilities subject to compromise	2,882,309	2,888,173
Total Liabilities	3,709,671	3,704,741
Deficit:	'	'
Total Deficit	-51,332	-60,247
Total Liabilities and Deficit	$3,658,339	$3,644,494

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Unbilled Contracts Receivable (in dollars)	$113,251	$113,336
Vessels and other property, construction in progress (in dollars)	61,278	54,644
Vessels and other property, accumulated depreciation (in dollars)	555,372	524,948
Intangible Assets, accumulated amortization (in dollars)	34,335	33,164
Income taxes payable ,reserve for uncertain tax positions (in dollars)	$234,623	$234,623

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Shipping Revenues	'	'
Pool revenues, including $21,837 and $23,268 received from companies accounted for by the equity method	$45,067	$56,255
Time and bareboat charter revenues	95,128	83,801
Voyage charter revenues	152,251	107,382
Shipping revenues	292,446	247,438
Operating Expenses	'	'
Voyage expenses	77,893	51,793
Vessel expenses	66,671	66,367
Charter hire expense	45,482	65,460
Depreciation and amortization	40,078	43,271
General and administrative	24,425	19,726
Technical management transition costs	194	0
Severance costs	6,683	-422
(Gain)/loss on disposal of vessels	-1,477	22
Total Operating Expenses	259,949	246,217
Income from Vessel Operations	32,497	1,221
Equity in income of affiliated companies	8,494	10,290
Operating income	40,991	11,511
Other income/(loss)	134	-199
Income before interest expense, reorganization items and income taxes	41,125	11,312
Interest expense	-123	-288
Income before reorganization items and income taxes	41,002	11,024
Reorganization items, net	-29,256	-184,621
Income/(loss) before income taxes	11,746	-173,597
Income tax (provision)/benefit	-1,329	5,835
Net Income/(Loss)	$10,417	($167,762)
Weighted Average Number of Common Shares Outstanding	'	'
Basic (in shares)	30,516,394	30,448,703
Diluted (in shares)	30,516,394	30,448,703
Per Share Amounts	'	'
Basic net income/(loss) (in dollars per share)	$0.34	($5.51)
Diluted net income/(loss) (in dollars per share)	$0.34	($5.51)

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Pool revenues, received from companies accounted for by the equity method	$21,837	$23,268

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Net Income/(Loss)	$10,417	($167,762)
Other Comprehensive (Loss)/Income, net of tax:	'	'
Net change in unrealized holding losses on available-for-sale securities	0	-49
Net change in unrealized losses on cash flow hedges	-1,778	7,817
Defined benefit pension and other postretirement benefit plans:	'	'
Net change in unrecognized prior service costs	5	-21
Net change in unrecognized actuarial losses	-109	453
Other Comprehensive (Loss)/Income	-1,882	8,200
Comprehensive Income/(Loss)	$8,535	($159,562)

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash Flow from Operating Activities	'	'
Net income/(loss)	$10,417	($167,762)
Items included in net income/(loss) not affecting cash flows:	'	'
Depreciation and amortization	40,078	43,271
Amortization of deferred gain on sale and leasebacks	0	42
Compensation relating to restricted stock and stock option grants	542	-1,782
Deferred income tax provision/(benefit)	8,461	-9,704
Undistributed earnings of affiliated companies	-4,996	-6,719
Deferred payment obligations on charters-in	1,102	1,377
Reorganization items, non-cash	14,259	177,213
Gain on sublease contracts	0	-344
Other-net	567	1,252
Items included in net income/(loss) related to investing and financing activities:	'	'
Loss on sale of securities and other investments - net	0	303
(Gain)/loss on disposal of vessels - net	-1,477	22
Payments for drydocking	-5,738	-3,834
Changes in operating assets and liabilities	-19,157	34,096
Net cash provided by operating activities	44,058	67,431
Cash Flows from Investing Activities:	'	'
Proceeds from sale of marketable securities and investments	0	179
Expenditures for vessels	-9,510	-12,203
Proceeds from/deposits received for disposal of vessels	7,594	472
Expenditures for other property	-54	-278
Other - net	131	-81
Net cash used in investing activities	-1,839	-11,911
Cash Flows from Financing Activities	'	'
Purchases of treasury stock	-162	-42
Payments on debt, including adequate protection payments	-5,307	-6,202
Net cash used in financing activities	-5,469	-6,244
Net increase in cash and cash equivalents	36,750	49,276
Cash and cash equivalents at beginning of year	601,927	507,342
Cash and cash equivalents at end of period	$638,677	$556,618

CONDENSED_CONSOLIDATED_STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY/(DEFICIT) (USD $)	Total	Common Stock [Member]		Paid-in Additional Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]
In Thousands, except Share data	Total	Common Stock [Member]		Paid-in Additional Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at Dec. 31, 2012	$534,246	$44,291	[1]	$414,411	$1,024,480	($835,155)	($113,781)	[2]
Balance (in shares) at Dec. 31, 2012	'	'		'	'	13,396,320	'
Net income (loss)	-167,762	'		'	-167,762	'	'
Other comprehensive income (loss)	8,200	'		'	'	'	8,200	[2]
Forfeitures of restricted stock awards	0	'		0	'	0	'
Forfeitures of restricted stock awards (in shares)	'	'		'	'	58,080	'
Compensation related to options granted	-506	'		-506	'	'	'
Amortization of restricted stock awards	-1,276	'		-1,276	'	'	'
Purchases of treasury stock	-42	'		'	'	-42	'
Purchases of treasury stock (in shares)	'	'		'	'	40,370	'
Balance at Mar. 31, 2013	372,860	44,291	[1]	412,629	856,718	-835,197	-105,581	[2]
Balance (in shares) at Mar. 31, 2013	'	'		'	'	13,494,770	'
Balance at Dec. 31, 2013	-60,247	44,291	[1]	413,753	386,250	-835,197	-69,344	[2]
Balance (in shares) at Dec. 31, 2013	'	'		'	'	13,575,339	'
Net income (loss)	10,417	'		'	10,417	'	'
Other comprehensive income (loss)	-1,882	'		'	'	'	-1,882	[2]
Forfeitures of restricted stock awards	0	'		138	'	-138	'
Forfeitures of restricted stock awards (in shares)	'	'		'	'	9,847	'
Compensation related to options granted	95	'		95	'	'	'
Amortization of restricted stock awards	447	'		447	'	'	'
Purchases of treasury stock	-162	'		'	'	-162	'
Purchases of treasury stock (in shares)	'	'		'	'	30,280	'
Balance at Mar. 31, 2014	($51,332)	$44,291	[1]	$414,433	$396,667	($835,497)	($71,226)	[2]
Balance (in shares) at Mar. 31, 2014	'	'		'	'	13,615,466	'

[1]	Par value $1 per share; 120,000,000 shares authorized; 44,290,759 shares issued as of March 31, 2014.
[2]	Amounts are net of tax

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	3 Months Ended
Basis of Presentation and Significant Accounting Policies	Mar. 31, 2014
Accounting Policies [Abstract]	'
Business Description and Basis of Presentation [Text Block]	'
	Note 1 — Basis of Presentation and Significant Accounting Policies:

	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. They do not include all of the information and footnotes required by generally accepted accounting principles in the U.S. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the results have been included. Operating results for the three months ended March 31, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.

	The consolidated balance sheet as of December 31, 2013 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by generally accepted accounting principles in the U.S. for complete financial statements. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013.

	Dollar amounts, except per share amounts are in thousands.

	Cash and cash equivalents—Interest-bearing deposits that are highly liquid investments and have a maturity of three months or less when purchased are included in cash and cash equivalents. Approximately $30,700 and $20,500 of cash and cash equivalents in the consolidated balance sheets as of March 31, 2014 and December 31, 2013, respectively, is restricted for the general operations of 15 vessels pledged as collateral under secured term loans. See Note 5, “Debt,” for a further discussion of secured term loans.

	Concentration of Credit Risk—Financial instruments that potentially subject the Company to concentrations of credit risk are voyage receivables due from charterers and pools in which the Company participates. During the three months ended March 31, 2014 and March 31, 2013, the Company did not have any individual customers who accounted for 10% or more of its revenues apart from the pools in which it participates. The pools in which the Company participates accounted for 60% and 58% of consolidated voyage receivables at March 31, 2014 and December 31, 2013, respectively.

	Income Taxes—The Company’s quarterly income tax (provision)/benefit and its corresponding annual effective tax rate are based on expected income, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates. For interim financial reporting, except in circumstances as described in the following paragraph, the Company estimates the annual effective tax rate based on projected taxable income for the full year and records a quarterly tax provision in accordance with the expected annual effective tax rate. As the year progresses, the Company refines the estimates of the year’s taxable income as new information becomes available, including year-to-date financial results. This continual estimation process often results in a change to our expected annual effective tax rate for the year. When this occurs, the Company adjusts the income tax provision during the quarter in which the change in estimate occurs so that the year-to-date income tax provision reflects the expected annual effective tax rate. Significant judgment is required in determining the Company’s annual effective tax rate and in evaluating the Company’s tax positions.

	When the result of the expected annual effective tax rate is not deemed reliable, as was the case for the first quarter of 2014, and distorts the income tax provision for an interim period, the Company calculates the income tax provision or benefit using the year-to-date effective tax rate in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740. This cut-off method results in an income tax provision or benefit based solely on the year-to-date pretax income or loss as adjusted for permanent differences on a pro rata basis.
	Recently Adopted Accounting Standards

	In February 2013, the FASB issued ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date, which provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing U.S. GAAP guidance. This accounting standard was effective for public entities for annual periods, and interim periods within those annual periods, beginning after December 31, 2013. The Company’s adoption of this new accounting guidance on January 1, 2014 did not have a significant impact on its condensed consolidated financial statements.

	In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, to address the diversity in practice in presenting unrecognized tax benefits on the balance sheet. The standard provides explicit guidance requiring that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except when certain circumstances enumerated in the standard exist. The required presentation should better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carryforwards, similar tax losses or tax carryforwards exist. The amendments in this update were effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. The Company’s adoption of this new accounting guidance on January 1, 2014 did not have a significant impact on its condensed consolidated financial statements.

Chapter_11_Filing_and_Going_Co

Chapter 11 Filing and Going Concern	3 Months Ended
Chapter 11 Filing and Going Concern	Mar. 31, 2014
Bankruptcy Filing And Going Concern [Abstract]	'
Bankruptcy Filing And Going Concern [Text Block]	'
	Note 2 —Chapter 11 Filing and Going Concern

	Chapter 11 Filing

	On November 14, 2012 (the “Petition Date”), the Company and 180 of its subsidiaries (collectively, the “Debtors”) filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). These cases are being jointly administered under the caption In re Overseas Shipholding Group, Inc. et al., Case No. 12 – 20000 (PJW) (the “Chapter 11 Cases”). Certain subsidiaries and affiliates of the Company (collectively, the “Non-Filing Entities”) were not part of the Chapter 11 Cases. The Debtors will continue to operate their businesses as “debtors-in-possession” in the ordinary course under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. The Non-Filing Entities will continue to operate their businesses in the ordinary course of business.

	In order for the Debtors to emerge successfully from Chapter 11, the Debtors must obtain the required votes of certain equity holders (see Amended Reorganization Plan below) accepting a plan of reorganization as well as the Bankruptcy Court’s confirmation of such plan, which will enable the Debtors to transition from Chapter 11 into ordinary course operations outside of bankruptcy. In connection with a reorganization plan, the Debtors also may require a new credit facility, or “exit financing.” The Debtors’ ability to obtain such approval and financing will depend on, among other things, the timing and outcome of various ongoing matters related to the Chapter 11 Cases. A reorganization plan determines the rights and satisfaction of claims of various creditors and security holders, and is subject to the ultimate outcome of negotiations and Bankruptcy Court decisions ongoing through the date on which the reorganization plan is confirmed.

	Original Reorganization Plan

	On February 12, 2014, the Debtors entered into a plan support agreement (as amended, the “Plan Support Agreement”) among the Debtors and certain of the lenders (the “Consenting Lenders”) holding an aggregate of approximately 60% of amounts outstanding under the Company’s Unsecured Revolving Credit Facility. The Plan Support Agreement required the Consenting Lenders to support and vote in favor of a proposed plan of reorganization of the Debtors consistent with the terms and conditions set forth in the term sheet attached as an exhibit to and incorporated into the Plan Support Agreement (as amended, the “Term Sheet”).

	As a result of additional lenders acceding to the Plan Support Agreement, lenders holding approximately 77% of amounts outstanding under the Unsecured Revolving Credit Facility were Consenting Lenders. On February 28, 2014, the Debtors and the commitment parties under the Plan Support Agreement entered into an equity commitment agreement (the “Consenting Lenders’ ECA”), which set forth, among other things, the terms of a proposed $300,000 rights offering, which would be backstopped by the Consenting Lenders.

	Pursuant to the Plan Support Agreement, on March 7, 2014, the Debtors filed the Joint Plan of Reorganization of Overseas Shipholding Group, Inc. et al. (the “Original Plan”), with the Bankruptcy Court. The Original Plan generally provided that creditors’ allowed non-subordinated claims against the Debtors other than claims under the Unsecured Revolving Credit Facility, would be paid in full, in cash, including post-petition interest, or reinstated and holders of equity interests and claims subordinated pursuant to section 510(b) of the Bankruptcy Code would receive a combination of shares of common stock and warrants issued by reorganized OSG valued at approximately $61,400. Under the Original Plan, holders of claims arising out of the Unsecured Revolving Credit Facility would receive their pro rata share of stock and warrants of the reorganized OSG. In addition, the Original Plan provided that the 7.50% Unsecured Senior Notes due in 2024 issued by OSG and the 8.125% Unsecured Senior Notes due in 2018 issued by OSG will be reinstated, following payment of outstanding interest. In connection with the Original Plan, the Debtors entered into a commitment letter (the “Goldman Commitment Letter”) with Goldman Sachs Bank USA to provide $935,000 in exit financing to the fund the Debtors’ emergence from bankruptcy.

	On March 17, 2014, the United States Trustee appointed an official committee of equity security holders (the “Equity Committee”). At the request of the Equity Committee, the Bankruptcy Court adjourned the hearing originally scheduled for March 20, 2014 for consideration of the Plan Support Agreement and Consenting Lenders’ ECA while the Equity Committee more fully immersed itself in the proceedings. On April 4, 2014, the Court entered an order authorizing the Debtors’ entry into and performance under the Plan Support Agreement and Consenting Lenders’ ECA, and as part of that order, adjourned the hearing on the Disclosure Statement until May 7, 2014, and the Confirmation Hearing until June 18, 2014. The Debtors also agreed to continue to reasonably consult and confer with certain holders of OSG equity securities (the “Equity Holders”) and the Equity Committee and their advisors regarding a potential alternative plan of reorganization and potential sources of exit financing, and to continue to provide reasonable diligence information about the Debtors. Furthermore, the Debtors agreed to make their management reasonably available and to continue to provide reasonable access to certain non-public information in furtherance of the diligence process.

	Amended Reorganization Plan

	After filing the Original Plan, the Debtors continued to extensively consult and confer with certain Equity Holders as well as the Equity Committee. On April 18, 2014, certain Equity Holders provided the Debtors with a plan term sheet (the “Equity Term Sheet”). Following additional analysis and consultation, the Debtors determined that an alternative plan based on the Equity Term Sheet (as described below, the “Equity Proposal”) was more favorable than the Original Plan. On May 2, 2014, the Debtors filed an amended plan of reorganization (the “Amended Plan”) that reflected the terms of the Equity Term Sheet, together with a disclosure statement describing such Equity Proposal (the “Disclosure Statement”).

	The Debtors also entered into a new equity commitment agreement (the “Equity Commitment Agreement”) with certain Equity Holders, who collectively hold approximately 30% of the outstanding shares of the Company (each, a “Commitment Party” and, collectively, the “Commitment Parties”). Pursuant to the Equity Commitment Agreement, each Commitment Party has agreed to purchase shares in a rights offering with an aggregate offering amount of $1,500,000. Each Commitment Party has committed to purchase shares in respect of unexercised subscription rights in the rights offering in proportion to the commitment percentage set forth in the Equity Commitment Agreement. Pursuant to the terms of the rights offering, the Debtors will distribute to each Equity Holder one subscription right in respect of each existing equity interest held by such Equity Holder. Each Equity Holder who is either an “accredited investor” as defined in Rule 501 under the Securities Act of 1933 (the “Securities Act”) or a “qualified institutional buyer” as defined in Rule 144A under the Securities Act shall be entitled to exercise the subscription right to purchase eleven and one half new class A securities at the price of $3.00 per security. Each Equity Holder who is not an “accredited investor” or “qualified institutional buyer” or that decides for any reason not to participate in the rights offering shall be entitled to receive one new class B security in exchange for each existing equity interest held by such Equity Holder. Class B securities carry an entitlement to distribution of up to 10 % of the net litigation recovery in the malpractice lawsuit against Proskauer Rose LLP (“Proskauer”) and four of its partners. Each new class B security will be convertible, at the option of the holder, at any time prior to the entry of a final order entering judgment for or against the defendants in the Proskauer litigation, into one new class A security and will automatically convert into one new class A security on the tenth business day after the entry of a final order with respect to such litigation and the distribution of any Net Litigation Recovery (as defined in the Equity Commitment Agreement) to the holders of class B securities. The Equity Committee and the Commitment Parties support confirmation of the Amended Plan.

	The Debtors have completed diligence and documentation of commitments with Jefferies Finance LLC for the exit financing facilities contemplated by the Amended Plan. These facilities include: (a) a term loan of approximately $600,000 secured by a first lien on substantially all the Debtors’ U.S. Flag assets other than certain specified assets that secure the asset-based revolving loan facility described below and a second lien on these specified assets; (b) a term loan of approximately $600,000 secured by a first lien on substantially all the Debtors’ International Flag assets, which lien is pari passu to the lien securing the revolving facility described below; (c) an asset based revolving loan facility of approximately $75,000 secured by a first lien on certain specified assets of the Debtors’ other U.S. Flag assets and a second lien on substantially all the Debtors’ U.S. Flag assets; and (d) a revolving loan facility of approximately $75,000 secured by a pari passu first lien on substantially all the Debtors’ International Flag assets. The Debtors have filed motions seeking approval of the Equity Commitment Agreement and the exit financing commitments, the hearing for which is scheduled for May 23, 2014.

	In accordance with their support of the Amended Plan, the Debtors terminated the Plan Support Agreement pursuant to Section 6 thereof, which permitted the Debtors to terminate the agreement and their obligations thereunder if the Debtors received an unsolicited proposal for an alternative plan and reasonably determined that such alternative plan was likely to be more favorable than the Original Plan. The Debtors also exercised their right to terminate the Goldman Commitment Letter, which arose by virtue of the Debtors’ support of the Amended Plan. The Debtors intend to seek approval of the Disclosure Statement at a hearing scheduled for May 23, 2014, after which they intend to solicit votes on the Amended Plan in accordance with the Bankruptcy Court’s orders. The Debtors have further requested that the Bankruptcy Court schedule a record date for purposes of participation in the rights offering for June 2, 2014. The Debtors have also proposed suspending trading of existing equity interests (or beneficial interests therein) on the last date which allows a purchaser to become a holder of record on the June 2, 2014 record date (which date is May 28, 2014) and accordingly disregarding for purposes of distributions under the Amended Plan any purported transfers of existing equity interests (or beneficial interests therein) after May 28, 2014. The Debtors have requested that the Bankruptcy Court set July 14, 2014 as the date of the hearing on confirmation of the Amended Plan.

	The Amended Plan is subject to revision in response to creditor claims and objections and the requirements of the Bankruptcy Code or the Bankruptcy Court. There can be no assurance that the Debtors will be able to secure requisite accepting votes for any proposed reorganization plan or confirmation of such plan by the Bankruptcy Court.

	Going Concern and Financial Reporting

	The commencement of the Chapter 11 Cases and weak industry conditions have negatively impacted the Company’s results of operations and cash flows and may continue to do so in the future. These factors raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the normal course of business.

	The Company’s ability to continue as a going concern is contingent upon, among other things, its ability to (i) develop a plan of reorganization and obtain required creditor acceptance and confirmation under the Bankruptcy Code, (ii) successfully implement such plan of reorganization, (iii) reduce debt and other liabilities through the bankruptcy process, (iv) return to profitability, (v) generate sufficient cash flow from operations, and (vi) obtain financing sources sufficient to meet the Company’s future obligations. As a result of the Chapter 11 Cases, the realization of assets and the satisfaction of liabilities are subject to uncertainty. While operating as debtors-in-possession pursuant to the Bankruptcy Code, the Company may sell or otherwise dispose of or liquidate assets or settle liabilities, subject to the approval of the Bankruptcy Court or as otherwise permitted in the ordinary course of business, for amounts other than those reflected in the consolidated financial statements. In particular, such financial statements do not purport to show (i) as to assets, the realization value on a liquidation basis or availability to satisfy liabilities, (ii) as to liabilities arising prior to the Petition Date, the amounts that may be allowed for claims or contingencies, or the status and priority thereof, (iii) as to shareholders’ equity accounts, the effect of any changes that may be made in the Company’s capitalization, or (iv) as to operations, the effects of any changes that may be made in the underlying business. A confirmed plan of reorganization (the “Confirmed Plan”) would likely cause material changes to the amounts currently disclosed in the consolidated financial statements. Further, the Confirmed Plan could materially change the amounts and classifications reported in the consolidated historical financial statements, which do not give effect to any adjustments to the carrying value of assets or amounts of liabilities that might be necessary as a consequence of confirmation of a plan of reorganization. The accompanying consolidated financial statements do not include any direct adjustments related to the recoverability and classification of assets or the amounts and classification of liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern or as a consequence of the Chapter 11 Cases.

	The Company was required to apply ASC 852, Reorganizations, effective on November 14, 2012, which is applicable to companies under bankruptcy protection, and requires amendments to the presentation of key financial statement line items. It requires that the financial statements for periods subsequent to the filing of the Chapter 11 Cases distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Revenues, expenses, realized gains and losses, and provisions for losses that can be directly associated with the reorganization and restructuring of the business must be reported separately as reorganization items in the consolidated statements of operations beginning in the year ended December 31, 2012. The balance sheet must distinguish pre-petition liabilities subject to compromise from both those pre-petition liabilities that are not subject to compromise and from post-petition liabilities. As discussed in Note 5, “Debt,” the revolving loan facilities and the Senior Notes are unsecured and the Secured Loan Facilities have priority over the unsecured creditors of the Company. Based upon the uncertainty surrounding the ultimate treatment of the Unsecured Revolving Credit Facility, the Unsecured Senior Notes and the Secured Loan Facilities, which were under collateralized as of the Petition Date, the instruments are classified as Liabilities Subject to Compromise in the Company’s consolidated balance sheet. The Company will evaluate creditors’ claims relative to priority over other unsecured creditors. Liabilities that may be affected by a plan of reorganization must be reported at the amounts expected to be allowed by the Bankruptcy Court, even if they may be settled for lesser amounts as a result of the plan of reorganization or negotiations with creditors. In addition, cash used by reorganization items are disclosed separately in Note 3, “Liabilities Subject to Compromise and Reorganization Items.”

	As further described in Note 11, “Taxes,” the Internal Revenue Service (“IRS”) has filed amended proofs of claim against the Company in its Chapter 11 proceedings in the aggregate liquidated amount of $255,760.

Liabilities_Subject_to_Comprom

Liabilities Subject to Compromise and Reorganization Items	3 Months Ended
Liabilities Subject to Compromise and Reorganization Items	Mar. 31, 2014
Liabilities Subject To Compromise and Reorganization Items [Abstract]	'
Liabilities Subject To Compromise Consist [Text Block]	'
	Note 3 — Liabilities Subject to Compromise and Reorganization Items:

	Liabilities Subject to Compromise:

	As a result of the filing of the Chapter 11 Cases on November 14, 2012, the payment of pre-petition indebtedness is generally subject to compromise pursuant to a plan of reorganization. Generally, actions to enforce or otherwise effect payment of pre-bankruptcy filing liabilities are stayed. Although payment of pre-petition claims generally is not permitted, the Bankruptcy Court granted the Debtors authority to pay certain pre-petition claims in designated categories and subject to certain terms and conditions. This relief generally was designed to preserve the value of the Debtors’ businesses and assets. Among other things, the Bankruptcy Court authorized the Debtors to pay certain pre-petition claims relating to employee wages and benefits, taxes and critical and foreign vendors.

	The Debtors have been paying and intend to continue to pay undisputed post-petition liabilities in the ordinary course of business. In addition, the Debtors have rejected certain pre-petition executory contracts and unexpired leases with respect to their operations with the approval of the Bankruptcy Court. Any damages resulting from the rejection of executory contracts and unexpired leases are treated as general unsecured claims and have been classified as Liabilities Subject to Compromise on the Company’s consolidated balance sheets as of March 31, 2014 and December 31, 2013. The Debtors have notified all known claimants subject to the bar date of their need to file a proof of claim with the Bankruptcy Court. A bar date is the date by which certain claims against the Debtors must be filed if the claimants disagree with the amounts, treatment or classification reflected in the Debtors’ schedule of assets and liabilities or that are not so scheduled and wish to receive any distribution in the bankruptcy filing. A bar date of May 31, 2013 was set by the Bankruptcy Court.

	Pre-petition liabilities that are subject to compromise are required to be reported at the amounts expected to be allowed, even if they may be settled for lesser amounts. The amounts currently classified as Liabilities Subject to Compromise may be subject to future adjustments depending on Bankruptcy Court actions, further developments with respect to disputed claims, determinations of the secured status of certain claims, the values of any collateral securing such claims, or other events. The accrued liabilities relating to rejected executory contracts, a component of liabilities subject to compromise reflects estimates based upon negotiations with creditors that have resulted in amended claims and/or stipulations that have received Bankruptcy Court approval. The Company cannot provide assurance relating to the value of the claims that will ultimately be allowed by the Bankruptcy Court. Any changes in classification resulting from the Company’s evaluation, investigation and reconciliation of the filed claims will be reflected in subsequent financial statements.

	Liabilities Subject to Compromise consist of the following:

		March 31,		December 31,
	As of	2014		2013
	Pre-petition accounts payable and other accrued liabilities	$	4,662	$	4,565
	Secured long-term debt and accrued interest		564,102		569,408
	Unsecured senior notes		500,780		500,780
	Unsecured revolving credit facility		1,489,000		1,489,000
	Accrued interest and fees on unsecured revolving credit
	facility and senior notes		10,878		10,878
	Derivative liabilities		3,566		3,566
	Accrued liabilities relating to rejected executory contracts		282,599		282,599
	Pension and other postretirement benefit plan liabilities		26,722		27,377
		$	2,882,309	$	2,888,173

	The following table summarizes activity related to the reserve for rejected executory contracts component of liabilities subject to compromise for the three months ended March 31, 2014 and March 31, 2013.

		2014		2013
	Balance at January 1,	$	282,599	$	30,539
	Original provision		-		159,189
	Reclassification of other liabilities relating to rejected
	executory contracts		-		25
	Balance at March 31,	$	282,599	$	189,753

	Reorganization Items, net

	Reorganization items, net represent amounts incurred subsequent to the bankruptcy filing as a direct result of the filing of the Chapter 11 Cases and are comprised of the following:

		Three Months Ended
		March 31,
		2014		2013
	Trustee fees	$	751	$	796
	Professional fees		28,505		18,631
	Provision for estimated claims on rejected executory contracts		-		159,189
	Expenses incurred on rejected executory contracts		-		6,005
		$	29,256	$	184,621

	The Company incurred fees totaling $4,484 and $4,148 during the three months ended March 31, 2014 and 2013, respectively, for financial and reorganization services rendered to the Company by Greylock Partners, LLC, a company founded and managed by the Company’s Chief Reorganization Officer. Such related party expenses are included in professional fees in the table above.

	Cash paid for reorganization items was $16,636 and $7,408 for the three months ended March 31, 2014 and 2013, respectively.

Earnings_per_Common_Share

Earnings per Common Share	3 Months Ended
Earnings per Common Share	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	Note 4 — Earnings per Common Share:

	Basic earnings per share is computed by dividing earnings, after the deduction of dividends and undistributed earnings allocated to participating securities, by the weighted average number of common shares outstanding during the period. The computation of diluted earnings per share assumes the issuance of common stock for all potentially dilutive stock options and restricted stock units not classified as participating securities. Participating securities are defined as unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents and are included in the computation of earnings per share pursuant to the two-class method. At March 31, 2014 and 2013, there were 186,145 and 400,712 such participating securities outstanding, respectively.

	The components of the calculation of basic earnings per share and diluted earnings per share are as follows:

		Three Months Ended
		March 31,
		2014		2013
	Net income/(loss)	$	10,417	$	-167,762
	Common shares outstanding, basic and diluted:
	Weighted average shares outstanding, basic and diluted		30,516,394		30,448,703

	There were no dilutive equity awards outstanding as of March 31, 2014 and 2013. Awards of 854,644 and 1,251,969 shares of common stock for the three months ended March 31, 2014 and 2013, respectively, were not included in the computation of diluted earnings per share because inclusion of these awards would be anti-dilutive.

Debt

Debt	3 Months Ended
Debt	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	Note 5 — Debt:

	The withdrawal of reliance on the audited financial statements for the three years ended December 31, 2011 and for the quarters ended March 31, 2012 and June 30, 2012 coupled with the Company’s failure to timely file the quarterly report on Form 10-Q for the quarter ended September 30, 2012 and the filing of the Chapter 11 Cases, resulted in an event of default or otherwise triggered repayment obligations under the Company’s Unsecured Revolving Credit Facility, Unsecured Senior Notes due in 2013, 2018 and 2024, Unsecured Forward Start Revolving Credit Agreement and Secured Loan Facilities maturing in 2020 and 2023 (each term as defined below). Also, as a result of the commencement of the Chapter 11 Cases, the outstanding balances under the Unsecured Revolving Credit Facility, the Unsecured Senior Notes and the Secured Loan Facilities and related accrued interest and certain of the unamortized deferred financing costs have been classified as Liabilities Subject to Compromise in the condensed consolidated balance sheets at March 31, 2014 and December 31, 2013, in accordance with ASC 852. Debt included in Liabilities Subject to Compromise will be paid in accordance with the ultimate claims resolution in the Bankruptcy Cases.

	Unsecured Revolving Credit Facility and Unsecured Senior Notes

	Pursuant to the applicable bankruptcy law, the Company does not expect to make any principal payments on the Unsecured Revolving Credit Facility and the Unsecured Senior Notes due in 2013, 2018 and 2024, during the pendency of the Chapter 11 Cases. Also, as interest on the Company’s unsecured debt subsequent to the Petition Date was not expected to be an allowed claim, the Company ceased accruing interest on the Unsecured Revolving Credit Facility and the Unsecured Senior Notes on November 14, 2012.

	For the three months ended March 31, 2014 and 2013, interest expense of $3,386 and $3,792, respectively, including $0 and $236 relating to the amortization of deferred financing costs, respectively, which would have been incurred had the Unsecured Revolving Credit Facility not been reclassified as a Liability Subject to Compromise, was not recorded.

	For the three months ended March 31, 2014 and 2013, interest expense of $10,587 and $10,590, including $364 and $367 relating to the amortization of debt discount and deferred financing costs, respectively, which would have been incurred had the Unsecured Senior Notes not been reclassified as a Liability Subject to Compromise, was not recorded.

	Secured Loan Facilities

	As of March 31, 2014, 15 vessels representing approximately 24% of the net book value of the Company’s vessels are pledged as collateral under the following debt agreements:

	Term loans maturing in 2020 – This facility with DSF, with an outstanding balance of $262,340 and $263,371 at March 31, 2014 and December 31, 2013, respectively, provides secured term loans covering five MR Product Carriers, two Panamax Product Carriers, one Aframax and one VLCC. The facility provides that the market values of the vessels pledged as collateral be compared with the outstanding loan balance semi-annually. The Company believes that the value of the collateral securing these loans as of the Petition Date was less than the outstanding balance of such loans and has therefore classified these secured term loans and related accrued interest and unamortized deferred financing costs as Liabilities Subject to Compromise in the consolidated balance sheets at March 31, 2014 and December 31, 2013. As of December 31, 2013, the loan-to-value ratio was estimated to approximate 97%. For the three months ended March 31, 2014 and March 31, 2013, interest expense of $772 and $877, including $0 and $66, respectively, relating to the amortization of deferred financing costs, which would have been incurred had the indebtedness not been reclassified as a Liability Subject to Compromise, was not recorded.

	Term loans maturing in 2023 – This facility with CEXIM, with an outstanding balance of $298,310 and $302,585 at March 31, 2014 and December 31, 2013, respectively, financed the construction of three VLCCs and two Aframaxes in China. The Company believes that the value of the collateral securing these loans as of the Petition Date was less than the outstanding balance of such loans and has therefore classified these secured term loans and related accrued interest and unamortized deferred financing costs as Liabilities Subject to Compromise in the consolidated balance sheets at March 31, 2014 and December 31, 2013. As of December 31, 2013, the loan-to-value ratio was estimated to approximate 91%. For the three months ended March 31, 2014 and March 31, 2013, interest expense of $2,064 and $2,287, including $0 and $71, respectively, relating to the amortization of deferred financing costs which would have been incurred had the indebtedness not been reclassified as a Liability Subject to Compromise, was not recorded.

	On February 5, 2013, the Bankruptcy Court issued orders [D.I. 0459 and 0460] granting adequate protection to the secured lenders in consideration for (i) the granting of pari passu liens in the secured lenders’ collateral in connection with the Debtor in Possession loan facilities (the “OIN DIP loans”) issued by OIN, (ii) the imposition of the automatic stay, (iii) the Company’s use, sale or lease of vessels and other collateral encumbered by the security interest of the secured lenders, and (iv) with respect to CEXIM, the Company’s continued use of cash collateral for the ongoing operation and maintenance of the vessels securing the CEXIM term loan agreement. Pursuant to these orders, the Company and certain of its subsidiaries are authorized to make use of the funds generated from the ongoing operation of the encumbered vessels in the following order of priority (i) to reimburse its ship management subsidiaries and other affiliates for voyage expenses, vessel operating expenses, capital expenditures and drydocking expenses incurred on behalf of the encumbered vessels, (ii) to fund a reserve for future drydocking expenses, (iii) to reimburse the secured lenders for certain legal costs, (iv) to pay the secured lenders amounts equal to current interest payments due on the outstanding pre-petition loan balances at the non-default contract rate of interest set forth in the term loan agreements (the “Adequate Protection Interest Payments” and together with amounts described in (iii), the “Adequate Protection Payments”) and (v) to pay any interest outstanding under the OIN DIP Loans. The Debtors and certain other parties in interest preserve the right to challenge the amount, extent, type or characterization of any Adequate Protection Payments or any other costs, fees or expenses, including the right to seek recharacterization of any such payments as payments on the prepetition principal amounts outstanding under the term loan agreements.

	In accordance with ASC 852, no interest is accrued and/or paid on secured debt when the fair value of the underlying collateral is below the outstanding principal of the secured debt. Accordingly, the Adequate Protection Interest Payments have been classified as reductions of outstanding principal. For the quarters ended March 31, 2014 and March 31, 2013, the Company paid Adequate Protection Interest Payments, which were classified as reductions of the outstanding principal of the DSF term loan of $1,031 and $1,404, respectively, and of the CEXIM term loan, of $4,276 and $4,798, respectively.

	OIN Debtor in Possession Loan Facilities

	Pursuant to the order issued by the Bankruptcy Court on February 5, 2013, OIN was given approval to enter into Debtor in Possession Loan Agreements with the Company’s subsidiaries that own and operate the vessels securing the term loans described above. Under the terms of the order, OIN is allowed to lend up to $10,000 to the Company’s subsidiaries operating the vessels securing term loans maturing in 2020 and $15,000 to the Company’s subsidiaries operating the vessels securing term loans maturing in 2023. The sole purpose of the OIN DIP Loans is to fund any shortfall in the funds available to cover ongoing operations, capital expenditures, drydock repairs and drydock reserves of the secured vessels and the Adequate Protection Payments due to the lenders as described above. The balances of the DIP Loans at both March 31, 2014 and December 31, 2013 were: $3,217 (CEXIM loan) and $760 (DSF loan).

	Outstanding Letters of Credit

	The Company has a $9,146 letter of credit outstanding as of March 31, 2014. This letter of credit, which was issued in connection with certain arbitration proceedings the Company is involved in, is fully cash collateralized. Such cash collateral is considered restricted cash and is included in other assets in the condensed consolidated balance sheets. There were no interest payments made on the outstanding letter of credit in 2013 and for the three months ended March 31, 2014.

Business_and_Segment_Reporting

Business and Segment Reporting	3 Months Ended
Business and Segment Reporting	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	Note 6 — Business and Segment Reporting:

	The Company has three reportable segments: International Crude Tankers, International Product Carriers and U.S. Flag vessels. Income/(loss) from vessel operations for segment purposes is defined as income/(loss) from vessel operations before general and administrative expenses, severance costs, technical management transition costs and gain/(loss) on disposal of vessels. The accounting policies followed by the reportable segments are the same as those followed in the preparation of the Company’s consolidated financial statements.

	The U.S. Flag segment includes an International Flag Product Carrier that exited the U.S. Maritime Security Program in the fourth quarter of 2012 but is still owned by a U.S. domiciled corporation. The joint venture with four LNG carriers is included in Other along with one chartered-in Chemical Carrier which was redelivered to its owners in October 2013.

	Information about the Company’s reportable segments as of and for the three months ended March 31, 2014 and 2013 follows:

			International
			Crude			Product
	Three months ended		Tankers			Carriers		Other		U.S.		Totals
	March 31, 2014:
	Shipping revenues		$	137,769		$	47,007	$	-39	$	107,709	$	292,446
	Time charter equivalent revenues			82,921			30,763		-39		100,908		214,553
	Depreciation and amortization			16,207			6,464		495		16,912		40,078
	Gain/(loss) on disposal of vessels			1,514			-		-		-37		1,477
	Income/(loss) from vessel operations			31,124			2,466		-513		29,245		62,322
	Equity in income of affiliated
	companies			7,843			-		273		378		8,494
	Investments in affiliated companies at
	31-Mar-14			279,256			3,904		42,202		415		325,777
	Total assets at March 31, 2014			1,355,660			542,325		42,237		1,046,712		2,986,934
	Expenditures for vessels			7,748			22		-		1,740		9,510
	Payments for drydockings			535			1,753		-		3,450		5,738
	March 31, 2013:
	Shipping revenues		$	67,648		$	72,669	$	1,077	$	106,044	$	247,438
	Time charter equivalent revenues			52,770			45,888		1,064		95,923		195,645
	Depreciation and amortization			18,299			6,992		853		17,127		43,271
	Gain/(loss) on disposal of vessels			-			-		6		-28		-22
	Income/(loss) from vessel operations			-6,811			4,670		-858		23,546		20,547
	Equity in income of affiliated
	companies			7,687			-		2,121		482		10,290
	Investments in affiliated companies at
	31-Mar-13			249,183			4,501		10,864		411		264,959
	Total assets at March 31, 2013			1,710,728			603,657		11,072		1,103,300		3,428,757
	Expenditures for vessels			1,637			10,571		-5		-		12,203
	Payments for drydockings			489			290		-		3,055		3,834

	Reconciliations of time charter equivalent revenues of the segments to shipping revenues as reported in the consolidated statements of operations follow:

			Three Months Ended
			March 31,
			2014			2013
	Time charter equivalent revenues		$	214,553		$	195,645
	Add: Voyage expenses			77,893			51,793
	Shipping revenues		$	292,446		$	247,438

	Consistent with general practice in the shipping industry, the Company uses time charter equivalent revenues, which represents shipping revenues less voyage expenses, as a measure to compare revenue generated from a voyage charter to revenue generated from a time charter. Time charter equivalent revenues, a non-GAAP measure, provides additional meaningful information in conjunction with shipping revenues, the most directly comparable GAAP measure, because it assists Company management in making decisions regarding the deployment and use of its vessels and in evaluating their financial performance.

	Reconciliations of income/(loss) from vessel operations of the segments to income before reorganization items and income taxes, as reported in the consolidated statements of operations follow:

			Three Months Ended
			March 31,
			2014			2013
	Total income from vessel operations of all segments		$	62,322		$	20,547
	General and administrative expenses			-24,425			-19,726
	Technical management transition costs			-194			-
	Severance costs			-6,683			422
	(Loss)/gain on disposal of vessels			1,477			-22
	Consolidated income from vessel operations			32,497			1,221
	Equity in income of affiliated companies			8,494			10,290
	Other income/(expense)			134			-199
	Interest expense			-123			-288
Income before reorganization items and income taxes		$	41,002		$	11,024


Reconciliations of total assets of the segments to amounts included in the consolidated balance sheets follow:

As of March 31,		2014			2013
Total assets of all segments		$	2,986,934		$	3,428,757
Corporate cash and securities			638,677			556,618
Other unallocated amounts			32,728			45,787
Consolidated total assets		$	3,658,339		$	4,031,162

Vessels

Vessels	3 Months Ended
Vessels	Mar. 31, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	Note 7 — Vessels:

	Purchase and Construction Commitments

	As of March 31, 2014, the Company had remaining commitments of $26,418 under a non-cancelable contract for the construction of one LR2, which is a coated Aframax, and for the conversion of a chartered-in U.S. Flag Product Carrier into a shuttle tanker. The LR2, which will be wholly owned by the Company, is scheduled for delivery in the second quarter of 2014. The shuttle tanker conversion project is expected to be completed during the third quarter of 2014.
	Vessel Impairments
	The Company determined that certain events had occurred during the fourth quarter of 2013 with respect to certain vessels within the Company’s International Flag fleet that management viewed as impairment indicators, triggering the need for an impairment assessment as of December 31, 2013. Such events included (i) the Company’s intentions relative to two older, non-core Aframaxes employed in Lightering through 2013, specifically, management’s assessment of whether or not the Company would drydock and continue to trade such vessels, given the current and expected rate environment, (ii) a significant year-over-year decline in third party valuation appraisals of the three Aframaxes that are not pledged as collateral under the secured facilities referred to below and all nine older Panamaxes in the Company’s International Flag fleet and (iii) the inability to reach mutually agreeable terms with CEXIM and DSF (collectively, the “Secured Banks”) on how the Debtors might refinance the term loan facilities the Company has with these Banks in order to retain the five VLCCs, three Aframaxes, five MRs and two LR1s securing these loans after emergence from bankruptcy protection. Based on the tests performed, impairment charges totaling $365,976 were recorded on two VLCCs, two Aframaxes and two LR1s that are pledged as collateral under the secured facilities, and nine Panamaxes to write-down their carrying values to their estimated fair values at December 31, 2013. Such impairment charges include $173,190 and $38,301 applicable to vessels that are pledged as collateral under the CEXIM and DSF term loans, respectively.

	The Company gave consideration as to whether events or changes in circumstances had occurred since December 2013 that could indicate that the carrying amounts of the vessels in the Company’s International Flag fleet may not be recoverable as of March 31, 2014. The Company concluded that no such events had occurred to warrant a change in the assumptions from those utilized in the December 2013 impairment tests.

	The Company also considered the need to test its U.S. Flag fleet for impairment as of March 31, 2014 and December 31, 2013 but did not identify events or changes in circumstances that warranted such impairment testing.

	Vessel Sales

	During March 2014, the Company sold an International Flag Aframax, which had been employed in Lightering operations, and recognized a gain on sale of approximately $1,510. There were no vessels sold during the quarter ended March 31, 2013.

	Vessel Acquisitions and Deliveries

	There were no vessel acquisitions or newbuild deliveries during the quarters ended March 31, 2014 and March 31, 2013.

Equity_Method_Investments

Equity Method Investments	3 Months Ended
	Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Equity Method Investments and Joint Ventures Disclosure [Text Block]	'
	Note 8 — Equity Method Investments:

	Investments in affiliated companies include joint ventures accounted for using the equity method. As of March 31, 2014, the Company had an approximate 50% interest in two joint ventures. One joint venture operates four LNG Carriers. The other joint venture converted two ULCCs to Floating Storage and Offloading Service vessels. In addition, the Company has a 37.5% interest in Alaska Tanker Company, LLC, which manages vessels carrying Alaskan crude for BP.

	Floating Storage and Offloading Service (“FSO”) Vessels Joint Venture

	Maersk Oil Qatar AS (“MOQ”) awarded two service contracts to a joint venture between OSG and Euronav NV to provide two vessels, the FSO Asia and the FSO Africa, to perform FSO services in the Al Shaheen Field off the shore of Qatar. The Company has a 50% interest in this joint venture, held indirectly by OSG International, Inc. The joint venture financed the purchase of the vessels from each of Euronav NV and OSG and their conversion costs through partner loans and a long-term bank financing, which is secured by among other things, the service contracts and the FSOs themselves. Approximately $177,362 and $196,500 was outstanding under this facility as of March 31, 2014 and December 31, 2013 respectively, with the outstanding amount of this facility being subject to acceleration, in whole or in part, on termination of one or both of such service contracts. On August 29, 2013 the long-term bank financing agreement was amended and restated to, among other things, reschedule a $45,000 balloon payment due on August 30, 2013 to payment in seven quarterly installments of $6,250 with the first installment due November 30, 2013, with a final payment of $1,250 due on August 31, 2015, and increase the margin on such debt by 50 basis points. In connection with the secured bank financing, the partners severally issued 50% guarantees. As of March 31, 2014 and December 31, 2013, the carrying value of the Company’s guarantee in the accompanying condensed consolidated balance sheet was $0.

	The joint venture entered into floating-to-fixed interest rate swaps with major financial institutions all of which were being accounted for as cash flow hedges through December 31, 2009. The interest rate swaps, covering notional amounts aggregating $279,730 and $304,472 as of March 31, 2014 and December 31, 2013, respectively, pay fixed rates of approximately 3.9% and receive floating rates based on LIBOR. These agreements have maturity dates ranging from July to September 2017. As a result of the delays in the completion of conversion and commencement of the service contract for the FSO Africa, in the first quarter of 2010 the joint venture concluded that it was no longer probable that the forecasted transaction applicable to the FSO Africa swaps would occur. Accordingly, as a result of the de-designation of the FSO Africa swaps, all changes in the market value of the swaps have been recognized in the joint venture’s statement of operations since the first quarter of 2010. The Company’s share of amounts recognized in equity in income from affiliated companies were losses of $106 and gains of $33 for the three months ended March 31, 2014 and 2013, respectively. As of March 31, 2014 and December 31, 2013, the joint venture had a liability of $19,787 and $22,083, respectively, for the fair value of the swaps associated with the FSO Africa and FSO Asia. The Company’s share of the effective portion of such amounts, aggregating $4,493 and $5,064 at March 31, 2014 and December 31, 2013, respectively, is included in accumulated other comprehensive loss in the accompanying balance sheet and is associated with the FSO Asia swaps only since the swaps associated with the FSO Africa have been de-designated and deemed to be ineffective.

	The Company’s Chapter 11 filing has no impact on the continued operations of the FSO joint venture, including the ability of the joint venture to continue to perform its obligations under the existing charters as well as its ability to continue to service its outstanding debt obligations and maintain continued compliance with the covenants under such debt agreements. On November 12, 2012, MOQ issued a waiver to the FSO joint venture agreeing not to exercise its rights to terminate the service contracts. The initial waiver period expired on February 15, 2013 and was subsequently extended to July 15, 2014, with MOQ having the right to terminate such waiver at an earlier date upon occurrence of certain events or after giving 90-day notice of intent to do so. In November 2012, the joint venture also obtained waivers of any events of default arising as a result of the commencement of the Chapter 11 Cases from (i) the bank syndicate for the secured loan facility, (ii) the counterparties to the interest rate swaps agreements described above, and (iii) the bank that has issued performance guarantees of the joint venture’s performance of certain of its obligations under the FSO Africa and FSO Asia service contracts. The initial waiver periods on all such waivers expired on February 15, 2013 and were subsequently extended to July 15, 2014, subject to the occurrence of certain events.

	LNG Joint Venture

	In November 2004, the Company formed a joint venture with Qatar Gas Transport Company Limited (Nakilat) (“QGTC”) whereby companies in which OSG holds a 49.9% interest ordered four 216,200 cbm LNG Carriers. Upon delivery in late 2007 and early 2008, these vessels commenced 25-year time charters to Qatar Liquefied Gas Company Limited (II) (“QG II”). QGTC subsequently contributed its ownership interests in the joint venture to its wholly owned subsidiary, Nakilat Marine Services Ltd. (“NMS”). The aggregate construction cost for such newbuildings was financed by the joint venture through long-term bank financing that is nonrecourse to the partners and partner contributions. Approximately $742,051 and $750,576 was outstanding under this secured facility as of March 31, 2014 and December 31, 2013.

	The joint venture has entered into floating-to-fixed interest rate swaps with a group of major financial institutions pursuant to which it pays fixed rates of approximately 4.9% and receives a floating rate based on LIBOR. The interest rate swap agreements have maturity dates ranging from July to November 2022 and cover notional amounts aggregating $718,959 and $727,663 at March 31, 2014 and December 31, 2013, respectively. These swaps are being accounted for as cash flow hedges. As of March 31, 2014 and December 31, 2013, the joint venture recorded a liability of $113,421 and $108,725, respectively, for the fair value of these swaps. The Company’s share of the effective portion of the fair value of these swaps, $56,548 and $54,199 at March 31, 2014 and December 31, 2013, respectively, is included in accumulated other comprehensive loss in the accompanying condensed consolidated balance sheet.

	The Company’s Chapter 11 filing has no impact on the continued operations of the LNG joint venture, including the ability of the joint venture to continue to perform its obligations under the existing charters as well as its ability to continue to service its outstanding debt obligations and maintain continued compliance with the covenants under such debt agreements. While the Company’s view was that the Company’s Chapter 11 filing did not constitute an event of default under the joint venture shareholders’ agreement, in an abundance of caution, in November 2012, NMS granted the Company a 30-day waiver of the events of default under this agreement. The waiver was extended in December 2012 and automatically renews every 30 days unless NMS gives a notice of its intent to terminate such waiver.

	On November 14, 2012, QG II agreed not to terminate the charter agreements nor exercise its options to purchase or bareboat charter any of the LNG Carriers, pursuant to the terms of the charter agreements, as a result of or in connection with the Company’s Chapter 11 filing. This undertaking lapsed after 30 days and was not deemed necessary to extend since on November 21, 2012, QGTC executed deeds of guarantee to QG II, guaranteeing that the joint venture will duly perform and comply with its obligations under all four charter agreements. These guarantees serve as replacements of the guarantees previously issued by OSG in November 2004. QGTC’s guarantees, as subsequently amended and extended, are effective through the earlier of (i) June 8, 2014, or (ii) OSG’s consummation of a Chapter 11 reorganization plan, attainment of a corporate credit rating acceptable to QG II, and issuance by OSG of a replacement guarantee in a form acceptable to QG II that is binding on OSG following the consummation of a Chapter 11 reorganization plan.

	See Note 13, “Accumulated Other Comprehensive Loss,” for additional disclosures relating to the FSO and LNG joint venture interest rate swap agreements.

	A condensed summary of the results of operations of the equity method investments follows:

		Three Months Ended
		March 31,
		2014		2013
	Shipping revenues	$	91,257	$	94,061
	Ship operating expenses		-61,992		-60,794
	Income from vessel operations		29,265		33,267
	Other expense		-505		-364
	Interest expense		-13,042		-13,706
	Net income	$	15,718	$	19,197

Variable_Interest_Entities_VIE

Variable Interest Entities ("VIEs")	3 Months Ended
	Mar. 31, 2014
Disclosure of Variable Interest Entities [Abstract]	'
Disclosure of Variable Interest Entities [Text Block]	'
	Note 9 – Variable Interest Entities (“VIEs”):

	As of March 31, 2014, the Company participates in four commercial pools and three joint ventures. Two of the pools and the FSO joint venture, described in Note 8, “Equity Method Investments,” above, were determined to be VIEs. The Company is not considered a primary beneficiary of either of the two pools or the joint venture.

	There were no liabilities in the balance sheet relating to the VIEs as of March 31, 2014. The following table presents the carrying amount of assets in the balance sheet related to the VIEs as of March 31, 2014:

		Consolidated Balance Sheet
	Investments in Affiliated Companies	$	282,707

	In accordance with accounting guidance, the Company evaluated its maximum exposure to loss related to these VIEs by assuming a complete loss of the Company’s investment in these VIEs and that it would incur an obligation to repay the full amount of the VIE’s outstanding secured debt. The table below compares the Company’s liability in the condensed consolidated balance sheet to the maximum exposure to loss at March 31, 2014:

		Consolidated Balance Sheet		Maximum Exposure to Loss
	Other liabilities	$	-	$	371,400

	In addition, as of March 31, 2014, the Company had approximately $28,752 of trade receivables from pools that were determined to be VIEs. These trade receivables, which are included in voyage receivables in the accompanying condensed consolidated balance sheet, have been excluded from the above tables and the calculation of OSG’s maximum exposure to loss. The Company does not record the maximum exposure to loss as a liability because it does not believe that such a loss is probable of occurring as of March 31, 2014. Further, the joint venture debt is secured by the joint venture’s FSOs. Therefore, the Company’s exposure to loss under its several guarantee would first be reduced by the fair value of such FSOs.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments and Fair Value Disclosures	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	Note 10 —Fair Value of Financial Instruments and Fair Value Disclosures:

	The following methods and assumptions were used to estimate the fair value of each class of financial instrument:

	Cash and cash equivalents— The carrying amounts reported in the condensed consolidated balance sheet for interest-bearing deposits approximate their fair value.

	Debt— At March 31, 2014 and December 31, 2013, all of the Company’s debt is subject to compromise (see Note 5, “Debt”) as a result of the Company’s filing of the Chapter 11 Cases. For publicly-traded debt, estimates of fair value are based on market prices.

	The estimated fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:

				Quoted prices in
				active markets for		Level 2
				identical assets		Significant other
		Fair Value		or liabilities		observable inputs
	March 31, 2014:
	Cash and cash equivalents	$	638,677	$	638,677	$	-
	Unsecured Senior Notes	$	-586,740	$	-	$	-586,740
	December 31, 2013:
	Cash and cash equivalents	$	601,927	$	601,927	$	-
	Unsecured Senior Notes	$	-559,441	$	-	$	-559,441

	The Company’s debt is included in Liabilities Subject to Compromise as of March 31, 2014 and December 31, 2013. Having filed the Chapter 11 Cases, the Company would not have been able to enter into similar credit facilities to its Unsecured Revolving Credit Facility and the floating rate Secured Term Loans. It is impractical to therefore obtain fair value estimates for such floating rate debt as of March 31, 2014 and December 31, 2013 and such debt is excluded from the above table. The fair values of the Unsecured Senior Notes were derived from quoted market prices, but because the Unsecured Senior Notes are thinly traded the fair value estimates are considered to be Level 2 of the fair value hierarchy.

Taxes

Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	Note 11 — Taxes:

	Income of foreign shipping companies earned from January 1, 1976 through December 31, 1986 was excluded from U.S. income taxation to the extent that such income was reinvested in foreign shipping operations. Foreign shipping income earned before 1976 is not subject to tax unless distributed to the U.S. A determination of the amount of qualified investments in foreign shipping operations, as defined, is made at the end of each year and such amount is compared with the corresponding amount at December 31, 1986. If, during any determination period, there is a reduction of qualified investments in foreign shipping operations, earnings of the foreign shipping companies, limited to the amount of such reduction and to the amount of earnings not previously subject to U.S. income taxation, would become subject to tax. From January 1, 1987 through December 31, 2004, earnings of the foreign shipping companies (exclusive of foreign joint ventures in which the Company has a less than 50% interest) were subject to U.S. income taxation in the year earned and could therefore be distributed to the U.S. parent without further tax. For years beginning after December 31, 2004, the earnings from shipping operations of the Company’s foreign subsidiaries are not subject to U.S. income taxation as long as such earnings are not repatriated to the U.S.

	For purposes of its financial statements as of March 31, 2014 and December 31, 2013 the Company has recorded reserves related to the tax effects of the cumulative potential deemed dividends and other foreign income from its foreign subsidiaries or less than 50% owned foreign shipping joint ventures of (1) $1,330,000 in connection with the Credit Facilities and (2) $107,000 related to intercompany balances. The year in which such deemed dividends are included in taxable income is subject to an IRS examination.

	For the quarter ended September 30, 2012 and periods prior thereto the Company had asserted that it is permanently reinvested on all foreign earnings except for the amount equal to the debt on which OIN is a co-obligor on a joint and several basis for which it cannot, by definition, be permanently reinvested. The Company has determined that because it has been in bankruptcy since November 2012, and its actions are subject to Bankruptcy Court approval, it can no longer make the assertion that it has both the ability and intent to permanently reinvest the remaining undistributed, previously untaxed, earnings of its foreign subsidiaries indefinitely outside the U.S. The Company has analyzed the book and tax basis differences for its foreign assets and analyzed how foreign earnings would likely be repatriated. Such repatriation would be dependent on the sale of foreign assets, which based on current fair values would significantly erode accumulated earnings by an amount that would exceed previously untaxed earnings. As a result, no incremental tax expense has been recorded for the three month periods ended March 31, 2014 and the year ended December 31, 2013.

	Unrecognized tax benefits presented on the balance sheet include interest and are reduced by available tax attributes, such as the offset of net operating loss carryforwards. Such unrecognized tax benefits are substantially related to the tax effects of the cumulative potential deemed dividends based on a deemed repatriation of foreign earnings in connection with the Credit Facilities and intercompany balances and other issues currently under examination by taxing authorities.

	The Company records interest and penalties on unrecognized tax benefits in its provision for income taxes. Accrued interest and penalties are included within the related tax liability line in the condensed consolidated balance sheets. The Company records the liability for the unrecognized tax benefits as a long term liability on the consolidated balance sheets unless cash settlement is expected in the next 12 months.

	The Company is subject to taxation in the U.S. and various states and foreign jurisdictions. With few exceptions, as of March 31, 2014, the Company is not subject to U.S. federal, state or local, or foreign examinations by tax authorities for years before 2004. The Company is currently under examination by the IRS for the periods 2004 through 2012.

	On January 21, 2014, the IRS amended their December 19, 2013 claim to adjust for a computational error in calculating the interest thereby reducing the claim to $255,760. As of March 31, 2014, the claim submitted by the IRS has not been allowed by the Bankruptcy Court, and, therefore, the Company does not consider the IRS claim to have been effectively settled. The Company plans to provide for treatment and payment of such claim through the Amended Plan and confirmation order. This IRS claim has been reflected in income taxes payable on the condensed consolidated balance sheets as of March 31, 2014 and December 31, 2013.

	The components of the income tax benefit/(provision) follow:

		Three Months Ended
		March 31,
		2014		2013
	Current	$	7,132	$	-3,869
	Deferred		-8,461		9,704
		$	-1,329	$	5,835

	At December 31, 2013 the Company had a reserve of $261,208 for benefits attributable to uncertain tax positions taken during the current and prior tax periods. For the three months ended March 31, 2014, the Company increased such reserve by $100 to reflect interest on uncertain tax positions.

	The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the tax authorities, based on the technical merits of the position. The tax benefits recognized in the condensed consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the related tax authority. As of March 31, 2014 and December 31, 2013, the Company had a liability for unrecognized tax benefits of $261,308 and $261,208, which included interest and penalties of $15,023 and $14,923, respectively. The Company believes that it is reasonably possible that a decrease of up to $359,459 in unrecognized tax benefits (which is before any reduction for available tax attributes, as discussed above) related to issues currently under examination by the taxing authorities will be settled during the next twelve months.

Capital_Stock_and_Stock_Compen

Capital Stock and Stock Compensation	3 Months Ended
Capital Stock and Stock Compensation	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Shareholders' Equity and Share-based Payments [Text Block]	'
	Note 12 — Capital Stock and Stock Compensation:

	Stock Options, Restricted Common Stock, Performance Related Grants

	There were no stock options, restricted common stock, restricted stock units or performance related grants during the three months ended March 31, 2014 and March 31, 2013.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	3 Months Ended
Accumulated Other Comprehensive Loss	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) Note [Abstract]	'
Accumulated Other Comprehensive Income (Loss) Note [Text Block]	'
	Note 13 — Accumulated Other Comprehensive Loss:

	The components of accumulated other comprehensive loss, net of related taxes, in the consolidated balance sheets follow:

		March 31,		December 31,
	As of	2014		2013
	Unrealized losses on derivative instruments	$	-61,041	$	-59,263
	Items not yet recognized as a component of net periodic
	benefit cost (pension and other postretirement plans)		-10,185		-10,081
		$	-71,226	$	-69,344

	The changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, during the three months ended March 31, 2014 and 2013 follow:

						Items not yet recognized as a component of
		Unrealized (gains)/losses on available-for-				net periodic benefit cost (pension and other
		sale securities		Unrealized losses on cash flow hedges		postretirement plans)		Total

	Balance as of December 31, 2013	$	-	$	-59,263	$	-10,081	$	-69,344

	Current period change excluding amounts
	reclassified from other comprehensive income		-		-6,843		-104		-6,947
	Amounts reclassified from accumulated other
	comprehensive income		-		5,065		-		5,065
	Total change in accumulated other comprehensive
	income		-		-1,778		-104		-1,882
	Balance as of March 31, 2014	$	-	$	-61,041	$	-10,185	$	-71,226

	Balance as of December 31, 2012	$	49	$	-98,937	$	-14,893	$	-113,781

	Current period change excluding amounts
	reclassified from other comprehensive income		-181		2,539		432		2,790
	Amounts reclassified from accumulated other
	comprehensive income		132		5,278		-		5,410
	Total change in accumulated other comprehensive
	income		-49		7,817		432		8,200
	Balance as of March 31, 2013	$	-	$	-91,120	$	-14,461	$	-105,581

	Amounts reclassified out of each component of accumulated other comprehensive loss follow:

	Amounts Reclassified Out of Accumulated Other Comprehensive Income

		Three Months Ended March 31,
						Statement of
	Accumulated Other Comprehensive Loss Component	2014		2013		Operations Line Item
	Unrealized losses on available-for-sale securities:
	Impairment recorded relating to securities held					Other income/
	by the Company's foreign subsidiaries	$	-	$	-132	(expense)
	Unrealized losses on cash flow hedges:
	Interest rate swaps entered into by the Company's					Equity in income of
	equity method joint venture investees		-5,065		-5,278	affiliated companies
		$	-5,065	$	-5,410	Total before tax and net of tax

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2014
Leases [Abstract]	'
Leases of Lessee and Lessor Disclosure [Text Block]	'
	Note 14 — Leases:

	1. Charters-in:

	Between December 2012 and April 2013, the Bankruptcy Court issued orders approving the Company’s rejection of leases on 25 chartered-in International Flag vessels. The Company entered into new lease agreements at lower rates on eight of the chartered-in vessels (seven Handysize Product Carriers and one Aframax), which lease agreements were assumed as amended pursuant to orders of the Bankruptcy Court, at lower rates. One Suezmax and one Handysize Product Carrier were redelivered to owners in December 2012 and an additional twelve vessels (eight Handysize Product Carriers, two Panamax Product Carriers, one Suezmax and one Aframax), were redelivered to owners during the three months ended March 31, 2013. In April 2013, the remaining three Handysize Product Carriers were redelivered to owners.

	For the three months ended March 31, 2013, the Company recorded estimated charges for lease termination costs totaling $159,189 related to the rejected charters for vessels that had been redelivered or amended through March 31, 2013. See Note 3, “Liabilities Subject to Compromise and Reorganization Items,” for reserves for estimated lease termination costs as of March 31, 2014 and December 31, 2013. Such reserves reflect revisions made to the charges originally recorded as a result of the Bankruptcy Court’s approval of settlement agreements entered into with the counterparties or entry of orders for the 25 chartered-in International Flag vessels that, in each case, have resulted in allowed claims.

	As of March 31, 2014, the Company had commitments to charter-in 21 vessels. All of these charters-in are accounted for as operating leases, of which 13 are bareboat charters and eight are time charters. Lease expense relating to charters-in is included in “charter hire expenses” on the condensed consolidated statements of operations. The future minimum commitments and related number of operating days under these operating leases are as follows:

	Bareboat Charters-in at
	March 31, 2014	Amount		Operating Days
	2014	$	71,041	3,575
	2015		97,816	4,745
	2016		99,038	4,758
	2017		98,219	4,713
	2018		93,200	3,929
	Thereafter		111,318	3,450
	Net minimum lease payments	$	570,632	25,170

	Time Charters-in at
	March 31, 2014	Amount		Operating Days
	2014	$	27,797	2,461
	2015		24,167	2,136
	2016		1,004	73
	Net minimum lease payments	$	52,968	4,670

	The future minimum commitments for time charters-in have been reduced to reflect estimated days that the vessels will not be available for employment due to drydock because the Company does not pay time charter hire when time chartered-in vessels are not available for its use. Certain of the charters in the above tables also provide the Company with renewal and purchase options.

	2. Charters-out:

	The future minimum revenues, before reduction for brokerage commissions, expected to be received on noncancelable time charters and certain contracts of affreightment (“COAs”) for which minimum annual revenues can be reasonably estimated and the related revenue days (revenue days represent calendar days, less days that vessels are not available for employment due to repairs, drydock or lay-up) are as follows:

	At March 31,2014	Amount		Revenue Days
	2014	$	266,221	6,835
	2015		232,426	4,602
	2016		148,524	2,846
	2017		91,201	1,640
	2018		55,337	881
	Thereafter		29,387	343
	Future minimum revenues	$	823,096	17,147

	Future minimum revenues do not include (1) the Company’s share of time charters entered into by the pools in which it participates, (2) the Company’s share of time charters entered into by the joint ventures, which the Company accounts for under the equity method and (3) COAs for which minimum annual revenues cannot be reasonably estimated. Revenues from those COAs that are included in the table above, $21,560 (2014), $26,559 (2015), $22,023 (2016), $22,347 (2017), $22,698 (2018) and $29,387 (thereafter), are based on minimum annual volumes of cargo to be loaded during the contract periods at a fixed price and do not contemplate early termination of the COAs as provided in the agreements. Amounts that would be due to the Company in the event of the cancellation of the COA contracts have not been reflected in the above table. Revenues from a time charter are not generally received when a vessel is off-hire, including time required for normal periodic maintenance of the vessel. In arriving at the minimum future charter revenues, an estimated time off-hire to perform periodic maintenance on each vessel has been deducted, although there is no assurance that such estimate will be reflective of the actual off-hire in the future.

	Amounts that would be due to the Company under a ten-year charter-out agreement scheduled to commence in early 2015 upon the Company’s fulfillment of its obligation to convert a Jones Act Product Carrier into a shuttle tanker, which is a condition precedent under the terms of the charter, have not been reflected in the table above.

Pension_and_Other_Postretireme

Pension and Other Postretirement Benefit Plans	3 Months Ended
Pension and Other Postretirement Benefit Plans	Mar. 31, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pension and Other Postretirement Benefits Disclosure [Text Block]	'
	Note 15 — Pension and Other Postretirement Benefit Plans:

	The net periodic benefit cost for the Company’s domestic defined benefit pension (for which the benefits have been frozen) and postretirement health care and life insurance plans was not material during the three months ended March 31, 2014 and 2013. The unfunded benefit obligations for these domestic pension and postretirement benefit plans as well as the obligations outstanding under the (i) unfunded, nonqualified supplemental defined benefit pension plan, (ii) the unfunded, nonqualified defined contribution pension plan covering highly compensated U.S. shore-based employees, and (iii) the OSG Non-Employee Director Deferred Compensation Plan, all of which were terminated in connection with the Company’s filing for bankruptcy, are included in Liabilities Subject to Compromise in the condensed consolidated balance sheet as of March 31, 2014 and December 31, 2013.

	The Company expects that its required contributions in 2014 with respect to its domestic defined benefit pension plan will be approximately $1,320, of which $803 was funded through April 2014.

	Certain of the Company’s foreign subsidiaries have pension plans that, in the aggregate, are not significant to the Company’s consolidated financial position. The liabilities for such pension plans are included in other liabilities in the condensed consolidated balance sheets as of March 31, 2014 and December 31, 2013. On November 3, 2010, OSG provided a guarantee to the Trustees of the OSG Ship Management (UK) Ltd. Retirement Benefits Plan (the “Scheme”) in respect to the obligations of OSG Ship Management (UK) Ltd., the principal employer of the Scheme, in the amount not to exceed GBP 4,896 ($8,158 and $8,073 at March 31, 2014 and December 31, 2013, respectively).

Agreements_with_Executive_Offi

Agreements with Executive Officers and Severance Costs	3 Months Ended
	Mar. 31, 2014
Restructuring and Related Activities [Abstract]	'
Restructuring and Related Activities Disclosure [Text Block]	'
	Note 16 – Agreements with Executive Officers and Severance Costs:

	Severance related costs are recognized over the period commencing on the date on which the affected employees are notified and ending on the date when required services are completed.

	During the quarter ended March 31, 2013, the Company released excess reserves (net of additional provision) aggregating $422 that were related to the relocation of the technical management of its conventional International Flag crude oil tanker fleet from its Newcastle, U.K. office to its Athens, Greece office.

	In February 2013, the Company’s then-current Chief Executive Officer resigned. In conjunction with this resignation, the Company reversed previously recognized compensation expense of $3,209 relating to unvested restricted stock and stock option awards during the three months ended March 31, 2013.

	On March 22, 2013 the Company entered into an agreement with its current President and Chief Executive Officer who assumed that role in February 2013, confirming the terms of his employment with the Company (the “Letter Agreement”). The terms of the Letter Agreement were subsequently approved by the Bankruptcy Court and provide for the waiver of any and all rights, claims or causes of action that the Company may have, including, without limitation, claims pursuant to Sections 547 and 548 of the Bankruptcy Code, with respect to payments such executive officer received in connection with his June 15, 2012 letter agreement with the Company, conditioned upon such waiver remaining effective only in the event that either (1) he remains continuously employed with the Company through the date on which the Company emerges from the proceedings under Chapter 11 or (2) his employment is terminated in connection with a divestiture of one or more of the Company’s assets or businesses. Furthermore, the agreement provides for an allowed administrative claim against OSG Ship Management, Inc., a wholly owned subsidiary of the Company, pursuant to Section 503(b)(1)(A) of the Bankruptcy Code, for amounts totaling $6,399 owed to the President and Chief Executive Officer under the Company’s Supplemental Executive Savings Plan. This provision is subject to his continued employment with the Company through December 1, 2014.

	In April 2013, thirty-seven employees, including three senior executive officers of the Company, were terminated as part of a reduction in force (“RIF”). The Company recorded approximately $3,427 in severance related costs during 2013 related to the April RIF (all subsequent to the first quarter of 2013).

	Costs Associated with Exit or Disposal Activities

	On January 13, 2014, the Company announced that certain subsidiaries of OSG that own or charter-in 33 vessels (which was subsequently increased to 48 vessels) in OSG’s International Flag fleet intend to outsource certain management services, including, but not limited to, the technical management, certain aspects of commercial management and crew management of the International Flag fleet to V. Ships UK Limited (“V.Ships”). OSG expects to incur approximately $34,000 in total expenses related to the transition to the outsourcing arrangement. Of this estimated $34,000 amount, approximately $21,000 is expected to be related to employee transition and termination benefits and similar transition and termination costs (“Outsourcing RIF”), and approximately $13,000 is expected to be related to set-up, wind-down and transitions costs. The estimates contained herein are subject to uncertainty.

	In conjunction with the aforementioned, on January 7, 2014, the Board of Directors of OSG (the “Board”) and the Compensation Committee of the Board approved a transitional incentive program for certain non-executive employees (the “Transition NEIP”). In order to achieve the restructuring described above, the Company requires the commitment of the employees whose responsibilities will ultimately be outsourced or rendered unnecessary by virtue of the outsourcing (the “Transitional Employees”). The Transition NEIP is a broad based plan intend to offer compensation incentives to substantially all of the non-executive Transitional Employees (the “Eligible Employees”) upon the achievement of specific objectives (“Objectives”) related to the operations and restructuring of OSG’s international operations. For Eligible Employees, the annualized target awards range from 25% to 75% of base salary. The total estimated cost of the incentive payments to be offered under the Transition NEIP, assuming all Eligible Employees participate and all of the Objectives are timely achieved, is $5,000. The Transition NEIP also includes approximately $1,000 to be allocated among Transition NEIP participants as needed based on personnel attrition, assumption of additional responsibilities, or other relevant events as determined by the Company. On this basis the total estimated cost of the Transition NEIP is $6,000, which is a component of the $21,000 of the employee transition and termination benefits and similar transition and termination costs described above. The Transition NEIP was subject to the approval of the Bankruptcy Court, which was received on February 3, 2014.

	Activity relating to the reserves for the April 2013 RIF and the Outsourcing RIF for the three months ended March 31, 2014 is summarized as follow:

		Outsourcing		April 2013
	Activity for the three months ended March 31, 2014	RIF		RIF
	Balance as of January 1, 2014	$	-	$	1,368
	Original estimate		6,334		-
	Utilized		-289		-1,059
	Balance at March 31, 2014	$	6,045	$	309

	The above table excludes related professional fees, which are expensed as incurred.

Contingencies

Contingencies	3 Months Ended
Contingencies	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Note 17 — Contingencies:

	The Company’s policy for recording legal costs related to contingencies is to expense such legal costs as incurred.

	Impact of the Chapter 11 Cases

	On November 14, 2012, the Company and 180 of its subsidiaries commenced the Chapter 11 Cases in the Bankruptcy Court. Certain of the Company’s subsidiaries and affiliates (collectively, the “Non-Filing Entities”) did not file for relief under Chapter 11. The Debtors will continue to operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and the orders of the Bankruptcy Court. The Non-Filing Entities will continue to operate in the ordinary course of business. As a result of the filing for relief under Chapter 11, litigation against the Debtors to recover pre-petition claims or to exercise control over the property of the Debtors’ bankruptcy estates is automatically stayed pursuant to the Bankruptcy Code. See Note 2, “Chapter 11 Filing and Going Concern,” to the accompanying condensed consolidated financial statements for additional information.
	Class Action Lawsuits and Derivative Actions

	Shortly after the Company filed a Current Report on Form 8-K on October 22, 2012 disclosing that on October 19, 2012 the Audit Committee of the Board of Directors of the Company, on the recommendation of management, concluded that the Company’s 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, 2012 and June 30, 2012, should no longer be relied upon, several putative class action suits were filed in federal court in the Southern District of New York against the Company, its then President and Chief Executive Officer, its then Chief Financial Officer, its then current and certain former members of its Board of Directors, its current independent registered public accounting firm, and underwriters of the Company’s public offering of notes in March 2010 (the “Offering”). The Company’s former independent registered public accounting firm was later added as a defendant. Subsequent to the Company’s filing for relief under Chapter 11, these suits were consolidated and the plaintiffs filed an amended complaint that does not name the Company as a defendant. The consolidated suit is on behalf of purchasers of Company securities between March 1, 2010 and October 19, 2012 and purchasers of notes in the Offering. The plaintiffs allege that documents that the Company filed with the SEC were defective, inaccurate and misleading, that the plaintiffs relied on such documents in purchasing the Company’s securities, and that, as a result, the plaintiffs suffered losses. The plaintiffs assert claims under the Securities Act against all defendants and claims under the Securities Exchange Act of 1934 (the “Exchange Act”) against the former President and former Chief Financial Officer of the Company. The Bankruptcy Court stayed the consolidated suit against the individual defendants (the former President and former Chief Financial Officer of the Company and certain current and certain former directors of the Company), except with respect to certain motions to dismiss, through September 17, 2013, subject to the Company’s right to request further extensions. The Company did not seek such extension. On September 10, 2013, the district court in the Southern District of New York dismissed the claims against the former President and former Chief Financial Officer of the Company arising under the Exchange Act in the consolidated suit for failure to adequately allege scienter but granted plaintiffs leave to replead their Exchange Act claims within 30 days. The district court denied the motions to dismiss the claims against all defendants arising under the Securities Act. On October 10, 2013, the plaintiffs re-pleaded their Exchange Act claims against the former President and former Chief Financial Officer in a second amended complaint.

	On January 28, 2014, plaintiffs sought leave to further amend the Exchange Act claims in its complaint based on factual assertions contained in the motion to dismiss filed by the Company’s former primary outside counsel, Proskauer on January 17, 2014 of the malpractice claims brought against it and four of its partners by the Company on November 18, 2013. On February 7, 2014, the district court granted the plaintiffs’ request and on February 18, 2014, the plaintiffs re-pleaded their Exchange Act claims in a third amended complaint. On February 25, 2014, the former President and former Chief Financial Officer filed their response to the third amended complaint and on March 4, 2014 the plaintiffs filed their reply to the defendants’ response. On April 28, 2014, the district court denied the motion to dismiss the Exchange Act claims filed by the former President and former Chief Financial Officer.

	Proskauer Action

	On February 23, 2014, Proskauer and four of its partners filed an action in the Supreme Court of the State of New York, County of New York, against the Senior Vice President, General Counsel and Secretary of the Company and the former Chief Financial Officer alleging that the defendants engaged in tortious and fraudulent conduct that caused significant harm to the plaintiffs and the Company. The plaintiffs allege that the defendants made false representations and thereby deceived and misled Proskauer into providing legal advice to the Company, which was the subject of the Company’s malpractice suit against Proskauer and four of its partners filed on November 18, 2013 in the Bankruptcy Court. On May 1, 2014, the defendants in the action filed by Proskauer and four of its partners filed motions to dismiss the action.

	On February 21, 2014, the Bankruptcy Court declined to hear the Company’s malpractice claims under the doctrine of permissive abstention, and on March 11, 2014, the Company re-filed its malpractice claims against Proskauer and four of its partners in the Supreme Court of the State of New York, County of New York. On April 11, 2014, Proskauer and four of its partners filed a motion to dismiss the malpractice action and on April 25, 2014, the Company filed its response to the dismissal motion. On May 5, 2014, Proskauer filed its reply to the Company’s response to the dismissal motion.

	SEC Investigation

	On November 13, 2012, the Company received from the staff of the SEC’s Division of Enforcement (the “Staff”) a request for documents relating to the statements in the Company’s October 22, 2012 Form 8-K. On January 29, 2013, the SEC issued a formal order of private investigation of the Company. The Company has provided documents to the SEC and intends to continue to cooperate fully with the SEC’s investigation.

	The Amended Plan provides for funding of a reserve for potential liabilities that the SEC may assert in connection with its proof of claim (the “SEC Claim”). The SEC filed the SEC Claim in respect of contingent and unliquidated amounts that the SEC may assert against the Company as a result of the outcome of its investigation of the Company and certain of its advisors. Pursuant to the Amended Plan, the Debtors will fund a reserve of up to $5,000 to satisfy any liabilities on account of the SEC Claim, solely to the extent and upon the entry of a final order of the Bankruptcy Court providing that the SEC Claim or any portion thereof is allowed. The SEC and the Debtors have agreed that there is no inference, assertion, concession, admission, determination or conclusion that should be drawn from the establishment of the reserve, as the SEC’s investigation of the Company, its advisors and individuals inside and outside of the Company is ongoing, and the SEC will make a determination of whether there were securities laws violations only at the conclusion of its investigation. The SEC has reached no such conclusion, and the Staff has sought a reserve solely in recognition of the fact that the SEC will not complete its investigation prior to the Amended Plan’s confirmation. On May 5, 2014, the Debtors and the SEC filed with the Bankruptcy Court a stipulation memorializing these terms.

	Environmental Incident

	On July 16, 2013, the Company received notification through its compliance reporting system that possible pollution violations from one of its Marshall Islands-flagged vessels had occurred. The report alleged that there had been improper discharges of bilge holding tank contents directly overboard and not, as required by Company policies and law, through the installed Oily Water Separator or to shore side reception facilities.

	On July 26, 2013, after conducting a preliminary investigation, the Company informed the Marshall Islands Maritime Administration (the “Flag State”) of potential violations of law and the Flag State commenced an investigation. The Company has cooperated with the Flag State preliminary investigation. On July 31, 2013, the Company voluntarily disclosed to the U.S. Coast Guard and the U.S. Department of Justice the results of the Company’s and the Flag State’s preliminary investigations, including possible improper discharges from the vessel’s bilge holding tank and apparent false entries in, or apparent omission of required entries from, the vessel’s Oil Record Book Part I while the vessel was in U.S. waters. The Company is cooperating with the U.S. Coast Guard and Department of Justice in their investigations resulting from the voluntary disclosures. Any liabilities for potential fines or penalties that may be imposed in connection with this matter cannot be estimated as of March 31, 2014.

	Legal Proceedings Arising in the Ordinary Course of Business

	The Company is a party, as plaintiff or defendant, to various suits in the ordinary course of business for monetary relief arising principally from personal injuries, collision or other casualty and to claims arising under charter parties. All such personal injury, collision or other casualty claims against the Company are covered by insurance (subject to deductibles not material in amount). Each of the claims involves an amount which, in the opinion of management, is not material to the Company’s financial position, results of operations and cash flows.

Condensed_Combined_Financial_S

Condensed Combined Financial Statements of Debtor Subsidiaries	3 Months Ended
	Mar. 31, 2014
Condensed Combined Financial Statements Of Debtor Subsidiaries [Abstract]	'
Condensed Combined Financial Statements Of Debtor Subsidiaries [Text Block]	'
	Note 18 — Condensed Combined Financial Statements of Debtor Subsidiaries:

	In accordance with ASC 852, aggregate financial information of the Debtors as of March 31, 2014 and December 31, 2013 and for the three months ended March 31, 2014 and 2013 follows:
			Total Combined Debtor Entities
			March 31,			December 31,
	Combined Balance Sheet information at		2014			2013
	ASSETS
	Current Assets:
	Cash and cash equivalents		$	600,232		$	585,907
	Voyage receivables			142,905			147,107
	Income taxes recoverable			11,631			3,941
	Other receivables			13,822			16,040
	Inventories, prepaid expenses and other current assets			47,807			44,692
	Deferred income taxes			5,464			5,464
	Total Current Assets			821,861			803,151
	Vessels and other property less accumulated depreciation			2,323,926			2,351,628
	Deferred drydock expenditures, net			54,065			57,248
	Total Vessels, Deferred Drydock and Other Property			2,377,991			2,408,876
	Investments in affiliated companies			325,777			323,327
	Intangible assets, less accumulated amortization			58,778			59,943
	Investments in subsidiaries			147,921			147,921
	Pre and Post-petition intercompany loans receivable and			58,488			31,588
	accrued interest			58,488			31,588
	Pre-petition intercompany receivables			2,244,406			2,244,406
	Post-petition intercompany receivables			19,124			15,819
	Other assets			27,951			26,896
	Total Assets		$	6,082,297		$	6,061,927
	LIABILITIES AND EQUITY
	Current Liabilities:
	Accounts payable, accrued expenses and other current liabilities		$	94,938		$	96,007
	Income taxes payable, including reserve for uncertain tax positions of			256,436			255,987
	$234,623 and $234,623			256,436			255,987
	Total Current Liabilities			351,374			351,994
	Reserve for uncertain tax positions			26,685			26,585
	Deferred income taxes			378,367			369,942
	Other Liabilities			31,842			30,977
	Post-petition intercompany payables			52,790			48,677
	Liabilities subject to compromise, including pre-petition intercompany			5,035,215			5,041,334
	payables			5,035,215			5,041,334
	Total Liabilities			5,876,273			5,869,509
	Equity:
	Total Equity			206,024			192,418
	Total Liabilities and Equity		$	6,082,297		$	6,061,927

			Total Combined Debtor Entities
			March 31,			March 31,
	Combined Statement of Operations for the three months ended		2014			2013
	Shipping Revenues:
	Pool revenues		$	45,069		$	56,267
	Time and bareboat charter revenues			95,128			83,801
	Voyage charter revenues			152,251			107,549
				292,448			247,617
	Operating Expenses:
	Voyage expenses			77,893			51,986
	Vessel expenses			66,949			66,514
	Charter hire expenses			45,482			65,458
	Depreciation and amortization			39,871			42,946
	General and administrative			18,827			14,353
	Technical management transition costs			140			-
	Severance costs			2,882			-
	(Gain)/loss on disposal of vessels			-1,473			28
	Total Operating Expenses			250,571			241,285
	Income from Vessel Operations			41,877			6,332
Equity in Income of Affiliated Companies			8,494			10,290
Operating Income			50,371			16,622
Other Expense			-4,658			-2,789
Income before Interest Expense, Reorganization Items and Income Taxes			45,713			13,833
Interest Expense			-123			-288
Income before Reorganization Items and Income Taxes			45,590			13,545
Reorganization Items, net			-29,256			-184,621
Income/(loss) before Income Taxes			16,334			-171,076
Income Tax (Provision)/Benefit			-1,330			5,835
Net Income/(Loss)		$	15,004		$	-165,241

		Total Combined Debtor Entities
		March 31,			March 31,
Combined Statement of Cash Flows for the three months ended		2014			2013
Cash Flows from Operating Activities:
Net Income/(loss)		$	15,004		$	-165,241
Items included in net income/(loss) not affecting cash flows:
Depreciation and amortization			39,871			42,946
Amortization of deferred gain on sale and leasebacks			-			42
Compensation relating to restricted stock and stock option grants			542			-1,930
Deferred income tax provision/(benefit)			8,461			-9,704
Undistributed earnings of affiliated companies			-4,996			-6,719
Deferred payment obligations on charters-in			1,102			1,377
Reorganization items, non-cash			14,259			177,213
Gain on sublease contracts			-			-344
Other – net			557			1,400
Items included in net income/(loss) related to investing and financing activities:
Loss on sale of securities and other investments – net			-			303
(Gain)/loss on disposal of vessels – net			-1,473			22
Payments for drydocking			-5,738			-3,834
Changes in operating assets and liabilities			-19,130			-12,986
Net cash provided by operating activities			48,459			22,545
Cash Flows from Investing Activities:
Proceeds from sale of marketable securities and investments			-			179
Expenditures for vessels			-9,510			-12,203
Proceeds from/deposits received for disposal of vessels			7,594			472
Expenditures for other property			-58			-98
Net change in intercompany loans due from non-debtors			-26,827			41,169
Other – net			136			-86
Net cash used in investing activities			-28,665			29,433
Cash Flows from Financing Activities:
Purchases of treasury stock			-162			-42
Payments on debt, including adequate protection payments			-5,307			-6,202
Net cash used in financing activities			-5,469			-6,244
Net increase in cash and cash equivalents			14,325			45,734
Cash and cash equivalents at beginning of year			585,907			471,726
Cash and cash equivalents at end of period		$	600,232		$	517,460

Basis_of_Presentation_and_Sign1

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and cash equivalents—Interest-bearing deposits that are highly liquid investments and have a maturity of three months or less when purchased are included in cash and cash equivalents. Approximately $30,700 and $20,500 of cash and cash equivalents in the consolidated balance sheets as of March 31, 2014 and December 31, 2013, respectively, is restricted for the general operations of 15 vessels pledged as collateral under secured term loans. See Note 5, “Debt,” for a further discussion of secured term loans.

Concentration Risk, Credit Risk, Policy [Policy Text Block]	'
	Concentration of Credit Risk—Financial instruments that potentially subject the Company to concentrations of credit risk are voyage receivables due from charterers and pools in which the Company participates. During the three months ended March 31, 2014 and March 31, 2013, the Company did not have any individual customers who accounted for 10% or more of its revenues apart from the pools in which it participates. The pools in which the Company participates accounted for 60% and 58% of consolidated voyage receivables at March 31, 2014 and December 31, 2013, respectively.

Income Tax, Policy [Policy Text Block]	'
	Income Taxes—The Company’s quarterly income tax (provision)/benefit and its corresponding annual effective tax rate are based on expected income, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates. For interim financial reporting, except in circumstances as described in the following paragraph, the Company estimates the annual effective tax rate based on projected taxable income for the full year and records a quarterly tax provision in accordance with the expected annual effective tax rate. As the year progresses, the Company refines the estimates of the year’s taxable income as new information becomes available, including year-to-date financial results. This continual estimation process often results in a change to our expected annual effective tax rate for the year. When this occurs, the Company adjusts the income tax provision during the quarter in which the change in estimate occurs so that the year-to-date income tax provision reflects the expected annual effective tax rate. Significant judgment is required in determining the Company’s annual effective tax rate and in evaluating the Company’s tax positions.

	When the result of the expected annual effective tax rate is not deemed reliable, as was the case for the first quarter of 2014, and distorts the income tax provision for an interim period, the Company calculates the income tax provision or benefit using the year-to-date effective tax rate in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 740. This cut-off method results in an income tax provision or benefit based solely on the year-to-date pretax income or loss as adjusted for permanent differences on a pro rata basis.

New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recently Adopted Accounting Standards

	In February 2013, the FASB issued ASU No. 2013-04, Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date, which provides guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing U.S. GAAP guidance. This accounting standard was effective for public entities for annual periods, and interim periods within those annual periods, beginning after December 31, 2013. The Company’s adoption of this new accounting guidance on January 1, 2014 did not have a significant impact on its condensed consolidated financial statements.

	In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, to address the diversity in practice in presenting unrecognized tax benefits on the balance sheet. The standard provides explicit guidance requiring that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except when certain circumstances enumerated in the standard exist. The required presentation should better reflect the manner in which an entity would settle at the reporting date any additional income taxes that would result from the disallowance of a tax position when net operating loss carryforwards, similar tax losses or tax carryforwards exist. The amendments in this update were effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2013. The Company’s adoption of this new accounting guidance on January 1, 2014 did not have a significant impact on its condensed consolidated financial statements.

Liabilities_Subject_to_Comprom1

Liabilities Subject to Compromise and Reorganization Items (Tables)	3 Months Ended
	Mar. 31, 2014
Liabilities Subject To Compromise and Reorganization Items [Abstract]	'
Liabilities Subject to Compromise Consist [Table Text Block]	'
	Liabilities Subject to Compromise consist of the following:

		March 31,		December 31,
	As of	2014		2013
	Pre-petition accounts payable and other accrued liabilities	$	4,662	$	4,565
	Secured long-term debt and accrued interest		564,102		569,408
	Unsecured senior notes		500,780		500,780
	Unsecured revolving credit facility		1,489,000		1,489,000
	Accrued interest and fees on unsecured revolving credit
	facility and senior notes		10,878		10,878
	Derivative liabilities		3,566		3,566
	Accrued liabilities relating to rejected executory contracts		282,599		282,599
	Pension and other postretirement benefit plan liabilities		26,722		27,377
		$	2,882,309	$	2,888,173

Estimated Claims on Rejected Executory Contracts [Table Text Block]	'
	The following table summarizes activity related to the reserve for rejected executory contracts component of liabilities subject to compromise for the three months ended March 31, 2014 and March 31, 2013.

		2014		2013
	Balance at January 1,	$	282,599	$	30,539
	Original provision		-		159,189
	Reclassification of other liabilities relating to rejected
	executory contracts		-		25
	Balance at March 31,	$	282,599	$	189,753

Reorganization Items Net [Table Text Block]	'
	Reorganization items, net represent amounts incurred subsequent to the bankruptcy filing as a direct result of the filing of the Chapter 11 Cases and are comprised of the following:

		Three Months Ended
		March 31,
		2014		2013
	Trustee fees	$	751	$	796
	Professional fees		28,505		18,631
	Provision for estimated claims on rejected executory contracts		-		159,189
	Expenses incurred on rejected executory contracts		-		6,005
		$	29,256	$	184,621

Earnings_per_Common_Share_Tabl

Earnings per Common Share (Tables)	3 Months Ended
Earnings per Common Share (Tables)	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Calculation of Numerator and Denominator in Earnings Per Share [Table Text Block]	'
	The components of the calculation of basic earnings per share and diluted earnings per share are as follows:

		Three Months Ended
		March 31,
		2014		2013
	Net income/(loss)	$	10,417	$	-167,762
	Common shares outstanding, basic and diluted:
	Weighted average shares outstanding, basic and diluted		30,516,394		30,448,703

Business_and_Segment_Reporting1

Business and Segment Reporting (Tables)	3 Months Ended
Business and Segment Reporting (Tables)	Mar. 31, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
	Information about the Company’s reportable segments as of and for the three months ended March 31, 2014 and 2013 follows:

		International
		Crude		Product
	Three months ended	Tankers		Carriers		Other		U.S.		Totals
	March 31, 2014:
	Shipping revenues	$	137,769	$	47,007	$	-39	$	107,709	$	292,446
	Time charter equivalent revenues		82,921		30,763		-39		100,908		214,553
	Depreciation and amortization		16,207		6,464		495		16,912		40,078
	Gain/(loss) on disposal of vessels		1,514		-		-		-37		1,477
	Income/(loss) from vessel operations		31,124		2,466		-513		29,245		62,322
	Equity in income of affiliated
	companies		7,843		-		273		378		8,494
	Investments in affiliated companies at
	31-Mar-14		279,256		3,904		42,202		415		325,777
	Total assets at March 31, 2014		1,355,660		542,325		42,237		1,046,712		2,986,934
	Expenditures for vessels		7,748		22		-		1,740		9,510
	Payments for drydockings		535		1,753		-		3,450		5,738
	March 31, 2013:
	Shipping revenues	$	67,648	$	72,669	$	1,077	$	106,044	$	247,438
	Time charter equivalent revenues		52,770		45,888		1,064		95,923		195,645
	Depreciation and amortization		18,299		6,992		853		17,127		43,271
	Gain/(loss) on disposal of vessels		-		-		6		-28		-22
	Income/(loss) from vessel operations		-6,811		4,670		-858		23,546		20,547
	Equity in income of affiliated
	companies		7,687		-		2,121		482		10,290
	Investments in affiliated companies at
	31-Mar-13		249,183		4,501		10,864		411		264,959
	Total assets at March 31, 2013		1,710,728		603,657		11,072		1,103,300		3,428,757
	Expenditures for vessels		1,637		10,571		-5		-		12,203
	Payments for drydockings		489		290		-		3,055		3,834

Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	'
	Reconciliations of time charter equivalent revenues of the segments to shipping revenues as reported in the consolidated statements of operations follow:

		Three Months Ended
		March 31,
		2014		2013
	Time charter equivalent revenues	$	214,553	$	195,645
	Add: Voyage expenses		77,893		51,793
	Shipping revenues	$	292,446	$	247,438

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	'
	Reconciliations of income/(loss) from vessel operations of the segments to income before reorganization items and income taxes, as reported in the consolidated statements of operations follow:

		Three Months Ended
		March 31,
		2014		2013
	Total income from vessel operations of all segments	$	62,322	$	20,547
	General and administrative expenses		-24,425		-19,726
	Technical management transition costs		-194		-
	Severance costs		-6,683		422
	(Loss)/gain on disposal of vessels		1,477		-22
	Consolidated income from vessel operations		32,497		1,221
	Equity in income of affiliated companies		8,494		10,290
	Other income/(expense)		134		-199
	Interest expense		-123		-288
	Income before reorganization items and income taxes	$	41,002	$	11,024


Reconciliation of Assets from Segment to Consolidated [Table Text Block]	'
	Reconciliations of total assets of the segments to amounts included in the consolidated balance sheets follow:

	As of March 31,	2014		2013
	Total assets of all segments	$	2,986,934	$	3,428,757
	Corporate cash and securities		638,677		556,618
	Other unallocated amounts		32,728		45,787
	Consolidated total assets	$	3,658,339	$	4,031,162

Equity_Method_Investments_Tabl

Equity Method Investments (Tables)	3 Months Ended
Equity Method Investments (Tables)	Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Results of Operations of Equity Method Investments [Table Text Block]	'
	A condensed summary of the results of operations of the equity method investments follows:

		Three Months Ended
		March 31,
		2014		2013
	Shipping revenues	$	91,257	$	94,061
	Ship operating expenses		-61,992		-60,794
	Income from vessel operations		29,265		33,267
	Other expense		-505		-364
	Interest expense		-13,042		-13,706
	Net income	$	15,718	$	19,197

Variable_Interest_Entities_VIE1

Variable Interest Entities ("VIEs") (Tables)	3 Months Ended
Variable Interest Entities ("VIEs") (Tables)	Mar. 31, 2014
Disclosure of Variable Interest Entities [Abstract]	'
Schedule of Variable Interest Entities [Table Text Block]	'
	The following table presents the carrying amount of assets in the balance sheet related to the VIEs as of March 31, 2014:

		Consolidated Balance Sheet
	Investments in Affiliated Companies	$	282,707

Schedule of Variable Interest Entities [Table Text Block]	'
	The table below compares the Company’s liability in the condensed consolidated balance sheet to the maximum exposure to loss at March 31, 2014:

		Consolidated Balance Sheet		Maximum Exposure to Loss
	Other liabilities	$	-	$	371,400

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments and Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, by Balance Sheet Grouping [Table Text Block]	'
	The estimated fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:

				Quoted prices in
				active markets for		Level 2
				identical assets		Significant other
		Fair Value		or liabilities		observable inputs
	March 31, 2014:
	Cash and cash equivalents	$	638,677	$	638,677	$	-
	Unsecured Senior Notes	$	-586,740	$	-	$	-586,740
	December 31, 2013:
	Cash and cash equivalents	$	601,927	$	601,927	$	-
	Unsecured Senior Notes	$	-559,441	$	-	$	-559,441

Taxes_Tables

Taxes (Tables)	3 Months Ended
Taxes (Tables)	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	'
	The components of the income tax benefit/(provision) follow:

		Three Months Ended
		March 31,
		2014		2013
	Current	$	7,132	$	-3,869
	Deferred		-8,461		9,704
		$	-1,329	$	5,835

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
Accumulated Other Comprehensive Loss (Tables)	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) Note [Abstract]	'
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
	The components of accumulated other comprehensive loss, net of related taxes, in the consolidated balance sheets follow:

		March 31,		December 31,
	As of	2014		2013
	Unrealized losses on derivative instruments	$	-61,041	$	-59,263
	Items not yet recognized as a component of net periodic
	benefit cost (pension and other postretirement plans)		-10,185		-10,081
		$	-71,226	$	-69,344

Schedule of Comprehensive Income (Loss) [Table Text Block]	'
	The changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, during the three months ended March 31, 2014 and 2013 follow:

						Items not yet recognized as a component of
		Unrealized (gains)/losses on available-for-				net periodic benefit cost (pension and other
		sale securities		Unrealized losses on cash flow hedges		postretirement plans)		Total

	Balance as of December 31, 2013	$	-	$	-59,263	$	-10,081	$	-69,344

	Current period change excluding amounts
	reclassified from other comprehensive income		-		-6,843		-104		-6,947
	Amounts reclassified from accumulated other
	comprehensive income		-		5,065		-		5,065
	Total change in accumulated other comprehensive
	income		-		-1,778		-104		-1,882
	Balance as of March 31, 2014	$	-	$	-61,041	$	-10,185	$	-71,226

	Balance as of December 31, 2012	$	49	$	-98,937	$	-14,893	$	-113,781

	Current period change excluding amounts
	reclassified from other comprehensive income		-181		2,539		432		2,790
	Amounts reclassified from accumulated other
	comprehensive income		132		5,278		-		5,410
	Total change in accumulated other comprehensive
	income		-49		7,817		432		8,200
	Balance as of March 31, 2013	$	-	$	-91,120	$	-14,461	$	-105,581

Reclassification Out of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
	Amounts reclassified out of each component of accumulated other comprehensive loss follow:

	Amounts Reclassified Out of Accumulated Other Comprehensive Income

		Three Months Ended March 31,
						Statement of
	Accumulated Other Comprehensive Loss Component	2014		2013		Operations Line Item
	Unrealized losses on available-for-sale securities:
	Impairment recorded relating to securities held					Other income/
	by the Company's foreign subsidiaries	$	-	$	-132	(expense)
	Unrealized losses on cash flow hedges:
	Interest rate swaps entered into by the Company's					Equity in income of
	equity method joint venture investees		-5,065		-5,278	affiliated companies
		$	-5,065	$	-5,410	Total before tax and net of tax

Leases_Tables

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2014
Leases [Abstract]	'
Operating Leases of Lessee Disclosure [Table Text Block]	'
	As of March 31, 2014, the Company had commitments to charter-in 21 vessels. All of these charters-in are accounted for as operating leases, of which 13 are bareboat charters and eight are time charters. Lease expense relating to charters-in is included in “charter hire expenses” on the condensed consolidated statements of operations. The future minimum commitments and related number of operating days under these operating leases are as follows:

	Bareboat Charters-in at
	March 31, 2014	Amount		Operating Days
	2014	$	71,041	3,575
	2015		97,816	4,745
	2016		99,038	4,758
	2017		98,219	4,713
	2018		93,200	3,929
	Thereafter		111,318	3,450
	Net minimum lease payments	$	570,632	25,170

	Time Charters-in at
	March 31, 2014	Amount		Operating Days
	2014	$	27,797	2,461
	2015		24,167	2,136
	2016		1,004	73
	Net minimum lease payments	$	52,968	4,670

Operating Leases of Lessor [Table Text Block]	'
	The future minimum revenues, before reduction for brokerage commissions, expected to be received on noncancelable time charters and certain contracts of affreightment (“COAs”) for which minimum annual revenues can be reasonably estimated and the related revenue days (revenue days represent calendar days, less days that vessels are not available for employment due to repairs, drydock or lay-up) are as follows:

	At March 31,2014	Amount		Revenue Days
	2014	$	266,221	6,835
	2015		232,426	4,602
	2016		148,524	2,846
	2017		91,201	1,640
	2018		55,337	881
	Thereafter		29,387	343
	Future minimum revenues	$	823,096	17,147

Agreements_with_Executive_Offi1

Agreements with Executive Officers and Severance Costs (Tables)	3 Months Ended
	Mar. 31, 2014
Restructuring and Related Activities [Abstract]	'
Restructuring and Related Costs [Table Text Block]	'
	Activity relating to the reserves for the April 2013 RIF and the Outsourcing RIF for the three months ended March 31, 2014 is summarized as follow:

		Outsourcing		April 2013
	Activity for the three months ended March 31, 2014	RIF		RIF
	Balance as of January 1, 2014	$	-	$	1,368
	Original estimate		6,334		-
	Utilized		-289		-1,059
	Balance at March 31, 2014	$	6,045	$	309

Condensed_Combined_Financial_S1

Condensed Combined Financial Statements of Debtor Subsidiaries (Tables)	3 Months Ended
	Mar. 31, 2014
Condensed Combined Financial Statements Of Debtor Subsidiaries [Abstract]	'
Schedule of Combined Condensed Balance Sheet Information [Table Text Block]	'
	In accordance with ASC 852, aggregate financial information of the Debtors as of March 31, 2014 and December 31, 2013 and for the three months ended March 31, 2014 and 2013 follows:
		Total Combined Debtor Entities
		March 31,		December 31,
	Combined Balance Sheet information at	2014		2013
	ASSETS
	Current Assets:
	Cash and cash equivalents	$	600,232	$	585,907
	Voyage receivables		142,905		147,107
	Income taxes recoverable		11,631		3,941
	Other receivables		13,822		16,040
	Inventories, prepaid expenses and other current assets		47,807		44,692
	Deferred income taxes		5,464		5,464
	Total Current Assets		821,861		803,151
	Vessels and other property less accumulated depreciation		2,323,926		2,351,628
	Deferred drydock expenditures, net		54,065		57,248
	Total Vessels, Deferred Drydock and Other Property		2,377,991		2,408,876
	Investments in affiliated companies		325,777		323,327
	Intangible assets, less accumulated amortization		58,778		59,943
	Investments in subsidiaries		147,921		147,921
	Pre and Post-petition intercompany loans receivable and		58,488		31,588
	accrued interest		58,488		31,588
	Pre-petition intercompany receivables		2,244,406		2,244,406
	Post-petition intercompany receivables		19,124		15,819
	Other assets		27,951		26,896
	Total Assets	$	6,082,297	$	6,061,927
	LIABILITIES AND EQUITY
	Current Liabilities:
	Accounts payable, accrued expenses and other current liabilities	$	94,938	$	96,007
	Income taxes payable, including reserve for uncertain tax positions of		256,436		255,987
	$234,623 and $234,623		256,436		255,987
	Total Current Liabilities		351,374		351,994
	Reserve for uncertain tax positions		26,685		26,585
	Deferred income taxes		378,367		369,942
	Other Liabilities		31,842		30,977
	Post-petition intercompany payables		52,790		48,677
	Liabilities subject to compromise, including pre-petition intercompany		5,035,215		5,041,334
	payables		5,035,215		5,041,334
	Total Liabilities		5,876,273		5,869,509
	Equity:
	Total Equity		206,024		192,418
	Total Liabilities and Equity	$	6,082,297	$	6,061,927

Schedule of Combined Condensed Income Statement [Table Text Block]	'
		Total Combined Debtor Entities
		March 31,		March 31,
	Combined Statement of Operations for the three months ended	2014		2013
	Shipping Revenues:
	Pool revenues	$	45,069	$	56,267
	Time and bareboat charter revenues		95,128		83,801
	Voyage charter revenues		152,251		107,549
			292,448		247,617
	Operating Expenses:
	Voyage expenses		77,893		51,986
	Vessel expenses		66,949		66,514
	Charter hire expenses		45,482		65,458
	Depreciation and amortization		39,871		42,946
	General and administrative		18,827		14,353
	Technical management transition costs		140		-
	Severance costs		2,882		-
	(Gain)/loss on disposal of vessels		-1,473		28
	Total Operating Expenses		250,571		241,285
	Income from Vessel Operations		41,877		6,332
	Equity in Income of Affiliated Companies		8,494		10,290
	Operating Income		50,371		16,622
	Other Expense		-4,658		-2,789
	Income before Interest Expense, Reorganization Items and Income Taxes		45,713		13,833
	Interest Expense		-123		-288
	Income before Reorganization Items and Income Taxes		45,590		13,545
	Reorganization Items, net		-29,256		-184,621
	Income/(loss) before Income Taxes		16,334		-171,076
	Income Tax (Provision)/Benefit		-1,330		5,835
	Net Income/(Loss)	$	15,004	$	-165,241

Schedule of Combined Condensed Cash Flow Statement [Table Text Block]	'
		Total Combined Debtor Entities
		March 31,		March 31,
	Combined Statement of Cash Flows for the three months ended	2014		2013
	Cash Flows from Operating Activities:
	Net Income/(loss)	$	15,004	$	-165,241
	Items included in net income/(loss) not affecting cash flows:
	Depreciation and amortization		39,871		42,946
	Amortization of deferred gain on sale and leasebacks		-		42
	Compensation relating to restricted stock and stock option grants		542		-1,930
	Deferred income tax provision/(benefit)		8,461		-9,704
	Undistributed earnings of affiliated companies		-4,996		-6,719
	Deferred payment obligations on charters-in		1,102		1,377
	Reorganization items, non-cash		14,259		177,213
	Gain on sublease contracts		-		-344
	Other – net		557		1,400
	Items included in net income/(loss) related to investing and financing activities:
	Loss on sale of securities and other investments – net		-		303
	(Gain)/loss on disposal of vessels – net		-1,473		22
	Payments for drydocking		-5,738		-3,834
	Changes in operating assets and liabilities		-19,130		-12,986
	Net cash provided by operating activities		48,459		22,545
	Cash Flows from Investing Activities:
	Proceeds from sale of marketable securities and investments		-		179
	Expenditures for vessels		-9,510		-12,203
	Proceeds from/deposits received for disposal of vessels		7,594		472
	Expenditures for other property		-58		-98
	Net change in intercompany loans due from non-debtors		-26,827		41,169
	Other – net		136		-86
	Net cash used in investing activities		-28,665		29,433
	Cash Flows from Financing Activities:
	Purchases of treasury stock		-162		-42
	Payments on debt, including adequate protection payments		-5,307		-6,202
	Net cash used in financing activities		-5,469		-6,244
	Net increase in cash and cash equivalents		14,325		45,734
	Cash and cash equivalents at beginning of year		585,907		471,726
	Cash and cash equivalents at end of period	$	600,232	$	517,460

Basis_of_Presentation_and_Sign2

Basis of Presentation and Significant Accounting Policies (Details Textual) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Accounts Receivable [Member]	Accounts Receivable [Member]	Sales Revenue, Net [Member]	Sales Revenue, Net [Member]
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'	'
Restricted Cash and Cash Equivalents	$30,700	$20,500	'	'	'	'
Concentration Risk, Percentage	'	'	60.00%	58.00%	10.00%	10.00%

Chapter_11_Filing_and_Going_Co1

Chapter 11 Filing and Going Concern (Details Textual) (USD $)

3 Months Ended

0 Months Ended

3 Months Ended

In Thousands, except Per Share data, unless otherwise specified

Mar. 31, 2014

Feb. 28, 2014

Mar. 07, 2014

Mar. 31, 2014

Feb. 12, 2014

Mar. 31, 2014

Notes 7.50 Percent Due 2024 [Member]

Notes 8.125 Percent Due 2018 [Member]

Reorganized OSG Stock [Member]

Goldman Sachs Bank [Member]

Term Loan [Member]

Term loan 1 [Member]

Asset Based Revolving Loan [Member]

Revolving Credit Facility [Member]

Rights [Member]

Chapter 11 Filing Going Concern and Other Related Matters [Line Items]

Bankruptcy Claims, Amount of Claims Filed

$255,760

Unsecured Revolving Credit Facility Holding Percentage

60.00%

77.00%

Debt Instrument, Interest Rate, Stated Percentage

7.50%

8.13%

Proposed Exit Financing Rights Offering

300,000

Debt Instrument Maturity Year

'2024

'2018

Bankruptcy Claims, Amount of Claims Settled

61,400

935,000

Equity Method Investment, Ownership Percentage

50.00%

30.00%

Stock Issued During Period, Value, New Issues

1,500,000

Equity Issuance, Per Share Amount

Percentage Of Entitlement To Distribution Litigation Recovery

10.00%

Secured Long-term Debt, Noncurrent

$600,000

$75,000

Liabilities_Subject_to_Comprom2

Liabilities Subject to Compromise and Reorganization Items (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Pre-petition accounts payable and other accrued liabilities	$4,662	$4,565
Derivative liabilities	3,566	3,566
Accrued liabilities relating to rejected executory contracts	282,599	282,599
Pension and other postretirement benefit plan liabilities	26,722	27,377
Total Liabilities Subject to Compromise	2,882,309	2,888,173
Revolving Credit Facility [Member]	'	'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Long-term debt and accrued interest	1,489,000	1,489,000
Long-term Debt [Member]	'	'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Long-term debt and accrued interest	564,102	569,408
Unsecured Debt [Member]	'	'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Long-term debt and accrued interest	10,878	10,878
Senior Notes [Member]	'	'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Long-term debt and accrued interest	$500,780	$500,780

Liabilities_Subject_to_Comprom3

Liabilities Subject to Compromise and Reorganization Items (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Balance at January 1,	$282,599	$30,539
Original provision	0	159,189
Reclassification of other liabilities relating to rejected executory contracts	0	25
Balance at March 31,	$282,599	$189,753

Liabilities_Subject_to_Comprom4

Liabilities Subject to Compromise and Reorganization Items (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Trustee fees	$751	$796
Professional fees	28,505	18,631
Provision for estimated claims on rejected executory contracts	0	159,189
Expenses incurred on rejected executory contracts	0	6,005
Reorganization Items, net	$29,256	$184,621

Liabilities_Subject_to_Comprom5

Liabilities Subject to Compromise and Reorganization Items (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Bankruptcy Claims, Last Date to File Claims with Bankruptcy Courts	31-May-13	'
Service Fee Amount Paid	$4,484	$4,148
Cash Paid for Reorganization Items	$16,636	$7,408

Earnings_per_Common_Share_Deta

Earnings per Common Share (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Earning Per Share [Line Items]	'	'
Net income/(loss)	$10,417	($167,762)
Common shares outstanding, basic and diluted:	'	'
Weighted average shares outstanding, basic and diluted (in shares)	30,516,394	30,448,703

Earnings_per_Common_Share_Deta1

Earnings per Common Share (Details Textual)	3 Months Ended
Earnings per Common Share (Details Textual)	Mar. 31, 2014	Mar. 31, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'
Participating Securities Outstanding	186,145	400,712
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	854,644	1,251,969

Debt_Details_Textual

Debt (Details Textual) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Debt Instrument [Line Items]	'	'	'
Debt Instrument Collateral Number Of Vessels	15	'	'
Net Book Value Of Vessels Percent Pledged As Collateral For Debt Instruments	24.00%	'	'
Letters of Credit Outstanding, Amount	$9,146	'	'
Debtor-in-Possession Financing, Date Arrangement Approved by Bankruptcy Court	5-Feb-13	'	'
CEXIM Loan [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
DIP Loan Receivable	3,217	'	3,217
Increase Decrease In Adequate Payment	4,276	4,798	'
DSF Loan [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
DIP Loan Receivable	760	'	760
Increase Decrease In Adequate Payment	1,031	1,404	'
Term loans maturing in 2023 [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Interest Expense	2,064	2,287	'
Amortization of Financing Costs	0	71	'
Minimum Required Loan To Value Ratio	'	'	91.00%
Debtor-in-Possession Financing, Amount Arranged	15,000	'	'
Line of Credit Facility, Amount Outstanding	298,310	'	302,585
Unsecured Revolving Credit Facility [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Interest Expense	3,386	3,792	'
Amortization of Financing Costs	0	236	'
Unsecured Senior Notes [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Interest Expense	10,587	10,590	'
Amortization of Financing Costs	364	367	'
Term loans maturing in 2020 [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Interest Expense	772	877	'
Amortization of Financing Costs	0	66	'
Minimum Required Loan To Value Ratio	'	'	97.00%
Debtor-in-Possession Financing, Amount Arranged	10,000	'	'
Line of Credit Facility, Amount Outstanding	$262,340	'	$263,371

Business_and_Segment_Reporting2

Business and Segment Reporting (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'
Shipping revenues	$292,446	$247,438	'
Time charter equivalent revenues	214,553	195,645	'
Depreciation and amortization	40,078	43,271	'
Gain/(loss) on disposal of vessels	1,477	-22	'
Income/(loss) from vessel operations	62,322	20,547	'
Equity in income of affiliated companies	8,494	10,290	'
Total assets	3,658,339	4,031,162	3,644,494
Expenditures for vessels	9,510	12,203	'
Payments for drydocking	5,738	3,834	'
Reportable Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Shipping revenues	292,446	247,438	'
Time charter equivalent revenues	214,553	195,645	'
Depreciation and amortization	40,078	43,271	'
Gain/(loss) on disposal of vessels	1,477	-22	'
Income/(loss) from vessel operations	62,322	20,547	'
Equity in income of affiliated companies	8,494	10,290	'
Investments in affiliated companies	325,777	264,959	'
Total assets	2,986,934	3,428,757	'
Expenditures for vessels	9,510	12,203	'
Payments for drydocking	5,738	3,834	'
Reportable Segment [Member] \| International Crude Tankers Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Shipping revenues	137,769	67,648	'
Time charter equivalent revenues	82,921	52,770	'
Depreciation and amortization	16,207	18,299	'
Gain/(loss) on disposal of vessels	1,514	0	'
Income/(loss) from vessel operations	31,124	-6,811	'
Equity in income of affiliated companies	7,843	7,687	'
Investments in affiliated companies	279,256	249,183	'
Total assets	1,355,660	1,710,728	'
Expenditures for vessels	7,748	1,637	'
Payments for drydocking	535	489	'
Reportable Segment [Member] \| International Product Carriers Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Shipping revenues	47,007	72,669	'
Time charter equivalent revenues	30,763	45,888	'
Depreciation and amortization	6,464	6,992	'
Gain/(loss) on disposal of vessels	0	0	'
Income/(loss) from vessel operations	2,466	4,670	'
Equity in income of affiliated companies	0	0	'
Investments in affiliated companies	3,904	4,501	'
Total assets	542,325	603,657	'
Expenditures for vessels	22	10,571	'
Payments for drydocking	1,753	290	'
Reportable Segment [Member] \| International Other Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Shipping revenues	-39	1,077	'
Time charter equivalent revenues	-39	1,064	'
Depreciation and amortization	495	853	'
Gain/(loss) on disposal of vessels	0	6	'
Income/(loss) from vessel operations	-513	-858	'
Equity in income of affiliated companies	273	2,121	'
Investments in affiliated companies	42,202	10,864	'
Total assets	42,237	11,072	'
Expenditures for vessels	0	-5	'
Payments for drydocking	0	0	'
Reportable Segment [Member] \| US Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Shipping revenues	107,709	106,044	'
Time charter equivalent revenues	100,908	95,923	'
Depreciation and amortization	16,912	17,127	'
Gain/(loss) on disposal of vessels	-37	-28	'
Income/(loss) from vessel operations	29,245	23,546	'
Equity in income of affiliated companies	378	482	'
Investments in affiliated companies	415	411	'
Total assets	1,046,712	1,103,300	'
Expenditures for vessels	1,740	0	'
Payments for drydocking	$3,450	$3,055	'

Business_and_Segment_Reporting3

Business and Segment Reporting (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'
Time charter equivalent revenues	$214,553	$195,645
Add: Voyage expenses	77,893	51,793
Shipping revenues	$292,446	$247,438

Business_and_Segment_Reporting4

Business and Segment Reporting (Details 2) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'
Total income from vessel operations of all segments	$62,322	$20,547	'
General and administrative expenses	-24,425	-19,726	'
Technical management transition costs	-194	0	'
Severance costs	-6,683	422	-3,427
(Loss)/gain on disposal of vessels	1,477	-22	'
Consolidated income from vessel operations	32,497	1,221	'
Equity in income of affiliated companies	8,494	10,290	'
Other income/(expense)	134	-199	'
Interest expense	-123	-288	'
Income before reorganization items and income taxes	$41,002	$11,024	'

Business_and_Segment_Reporting5

Business and Segment Reporting (Details 3) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Segment Reporting Information [Line Items]	'	'	'
Total assets	$3,658,339	$3,644,494	$4,031,162
Operating Segments [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Total assets	2,986,934	'	3,428,757
Corporate Assets [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Total assets	638,677	'	556,618
Unallocated Amount To Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Total assets	$32,728	'	$45,787

Vessels_Details_Textual

Vessels (Details Textual) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Property, Plant and Equipment [Line Items]	'	'	'
Gain (Loss) on disposition of property	$1,477	($22)	'
Asset Impairment Charges	'	'	365,976
Us Flag [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Gain (Loss) on disposition of property	1,510	'	'
CEXIM Term Loan [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Impairment of Long-Lived Assets Held-for-use	'	'	173,190
DSF Term Loan [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Impairment of Long-Lived Assets Held-for-use	'	'	38,301
Vessels [Member] \| International Crude Tankers Segment [Member] \| Securities Pledged as Collateral [Member] \| Very Large Crude Carrier Vessel [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Number of Vessels	5	'	'
Vessels [Member] \| International Crude Tankers Segment [Member] \| Securities Pledged as Collateral [Member] \| Aframaxes Vessel [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Number of Vessels	3	'	'
Vessels [Member] \| International Crude Tankers Segment [Member] \| Securities Pledged as Collateral [Member] \| MR [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Number of Vessels	5	'	'
Vessels [Member] \| International Crude Tankers Segment [Member] \| Securities Pledged as Collateral [Member] \| LR1 [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Number of Vessels	2	'	'
Capital Addition Purchase Commitments [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Commitments for vessels to be wholly owned	$26,418	'	'
Capital Addition Purchase Commitments [Member] \| Aframaxes Vessel [Member]	'	'	'
Property, Plant and Equipment [Line Items]	'	'	'
Scheduled delivery of vessels under contract	'second quarter of 2014	'	'

Equity_Method_Investments_Deta

Equity Method Investments (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Schedule of Equity Method Investments [Line Items]	'	'
Shipping revenues	$91,257	$94,061
Ship operating expenses	-61,992	-60,794
Income from vessel operations	29,265	33,267
Other expense	-505	-364
Interest expense	-13,042	-13,706
Net income	$15,718	$19,197

Equity_Method_Investments_Deta1

Equity Method Investments (Details Textual) (USD $)

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

3 Months Ended

In Thousands, unless otherwise specified

Dec. 31, 2013

Mar. 31, 2014

Aug. 29, 2013

Nov. 30, 2004

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Nov. 30, 2004

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Liquid Natural Gas Carrier Vessel [Member]

Ti Africa Vessel [Member]

Ti Asia Vessel [Member]

Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]

Qatar Gas Transport Company Limited Nakilat Joint Venture and Euronav Nv Joint Venture [Member]

Euronav Nv Joint Venture [Member]

Alaska Tanker Company LLC [Member]

Liquid Natural Gas Carrier Vessel [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Schedule of Equity Method Investments [Line Items]

Equity Method Investment, Ownership Percentage

50.00%

49.90%

50.00%

37.50%

Equity Method Investment, Description Of Principal Activities

'operates four LNG Carriers.

'Maersk Oil Qatar AS (MOQ) awarded two service contracts to a joint venture between OSG and Euronav NV

Line of Credit Facility, Amount Outstanding

$742,051

$750,576

$177,362

$196,500

Debt Instrument, Periodic Payment

6,250

Debt Instrument, Date of First Required Payment

30-Nov-13

Debt Instrument, Interest Rate, Basis for Effective Rate

'50 basis points

Guarantee Obligations Noncurrent Carrying Value

Notional Amount of Interest Rate Cash Flow Hedge Derivatives

718,959

727,663

279,730

304,472

Derivative, Fixed Interest Rate

4.90%

3.90%

Gain (Loss) on Discontinuation of Interest Rate Cash Flow Hedge Due to Forecasted Transaction Probable of Not Occurring, Net

106

Interest Rate Cash Flow Hedge Liability at Fair Value

113,421

108,725

19,787

22,083

Storage Volume

'four 216,200 cbm

Initial Term Of Contract

'25 years

Derivative, Maturity Date

1-Jul-22

30-Nov-22

1-Jul-17

30-Sep-17

Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid

45,000

Effective Portion of Gain/(Loss) Reclassified from Accumulated Other Comprehensive Loss

4,493

5,064

56,548

54,199

Debt Instrument Final Payment

$1,250

Guarantor Obligations, Liquidation Proceeds, Percentage

50.00%

Debt Instrument Date Of Final Required Payment

31-Aug-15

Variable_Interest_Entities_VIE2

Variable Interest Entities (''VIEs'') (Details) (Variable Interest Entity, Not Primary Beneficiary [Member], USD $)	Mar. 31, 2014
In Thousands, unless otherwise specified	Mar. 31, 2014
Variable Interest Entity, Not Primary Beneficiary [Member]	'
Variable Interest Entity [Line Items]	'
Investments in Affiliated Companies	$282,707

Variable_Interest_Entities_VIE3

Variable Interest Entities (''VIEs'') (Details 1) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Variable Interest Entity [Line Items]	'	'
Other Liabilities	$43,132	$42,189
Variable Interest Entity, Not Primary Beneficiary [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Other Liabilities	0	'
Maximum Exposure to Loss	$371,400	'

Variable_Interest_Entities_VIE4

Variable Interest Entities (''VIEs'') (Details Textual) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Variable Interest Entity [Line Items]	'	'
Number Of Commercial Pools	4	'
Number Of Joint Ventures	3	'
Accounts Receivable, Net, Current	$143,941	$147,964
Variable Interest Entity, Not Primary Beneficiary [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Accounts Receivable, Net, Current	$28,752	'

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments and Fair Value Disclosures (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash and cash equivalents	$638,677	$601,927
Unsecured Senior Notes	-586,740	-559,441
Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash and cash equivalents	638,677	601,927
Unsecured Senior Notes	0	0
Fair Value, Inputs, Level 2 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash and cash equivalents	0	0
Unsecured Senior Notes	($586,740)	($559,441)

Taxes_Details

Taxes (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Income Tax Contingency [Line Items]	'	'
Current	$7,132	($3,869)
Deferred	-8,461	9,704
Income tax benefit/(provision)	($1,329)	$5,835

Taxes_Details_Textual

Taxes (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Income Tax Contingency [Line Items]	'	'
Equity Method Investment, Ownership Percentage	50.00%	'
Liability for Uncertain Tax Positions, Current	'	$261,208
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	100	'
Taxable Income From Foreign Earnings	107,000	'
Bankruptcy Claims, Amount of Claims Filed	255,760	'
liabilities for Unrecognized Tax Benefits	261,308	261,208
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	15,023	14,923
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	359,459	'
Foreign Subsidiaries [Member]	'	'
Income Tax Contingency [Line Items]	'	'
Proceeds from Dividends Received	$1,330,000	'
From January 1, 1987 Through December 31, 2004 [Member]	'	'
Income Tax Contingency [Line Items]	'	'
Percentage Of Ownership Interests	50.00%	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Unrealized losses on derivative instruments	($61,041)	($59,263)	($91,120)	($98,937)
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans)	-10,185	-10,081	-14,461	-14,893
Accumulated other comprehensive loss	($71,226)	($69,344)	($105,581)	($113,781)

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Loss (Details 1) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'
Unrealized gains/(losses) on available - for-sale securities , Beginning Balance	$0	$49
Unrealized gains/(losses) on available - for-sale securities, Current period change excluding amounts reclassified from other comprehensive income	0	-181
Unrealized gains/(losses) on available - for-sale securities, Amounts reclassified from accumulated other comprehensive income	0	132
Unrealized gains/(losses) on available - for-sale securities, Total change in accumulated other comprehensive income	0	-49
Unrealized gains/(losses) on available - for-sale securities, Ending Balance	0	0
Unrealized losses on cash flow hedges, Beginning Balance	-59,263	-98,937
Unrealized losses on cash flow hedges, Current period change excluding amounts reclassified from other comprehensive income	-6,843	2,539
Unrealized losses on cash flow hedges, Amounts reclassified from accumulated other comprehensive income	5,065	5,278
Unrealized losses on cash flow hedges, Total change in accumulated other comprehensive income	-1,778	7,817
Unrealized losses on cash flow hedges, Ending Balance	-61,041	-91,120
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Beginning Balance	-10,081	-14,893
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Current period change excluding amounts reclassified from other comprehensive income	-104	432
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Amounts reclassified from accumulated other comprehensive income	0	0
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Total change in accumulated other comprehensive income	-104	432
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Ending Balance	-10,185	-14,461
Beginning Balance	-69,344	-113,781
Current period change excluding amounts reclassified from other comprehensive income	-6,947	2,790
Amounts reclassified from accumulated other comprehensive income	5,065	5,410
Total change in accumulated other comprehensive income	-1,882	8,200
Ending Balance	($71,226)	($105,581)

Accumulated_Other_Comprehensiv4

Accumulated Other Comprehensive Loss (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Unrealized losses on cash flow hedges:	'	'
Other Comprehensive Income (Loss), before Tax	($5,065)	($5,410)
Other Income/(expense) [Member]	'	'
Unrealized losses on available-for-sale securities:	'	'
Impairment recorded relating to securities held by the Company's foreign subsidiaries	0	-132
Equity in Income of Affiliated Companies [Member]	'	'
Unrealized losses on cash flow hedges:	'	'
Interest rate swaps entered into by the Company's equity method joint venture investees	($5,065)	($5,278)

Leases_Details

Leases (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Bareboat Charters In [Member]	'
Leases [Line Items]	'
2014	$71,041
2015	97,816
2016	99,038
2017	98,219
2018	93,200
Thereafter	111,318
Net minimum lease payments	570,632
Operating Days	'25170 days
Bareboat Charters In [Member] \| One Year From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'3575 days
Bareboat Charters In [Member] \| More Than One and Within Two Years From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'4745 days
Bareboat Charters In [Member] \| More Than Two and Within Three Years From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'4758 days
Bareboat Charters In [Member] \| More Than Three and Within Four Years From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'4713 days
Bareboat Charters In [Member] \| More Than Four and Within Five Years From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'3929 days
Bareboat Charters In [Member] \| More Than Five Years From Balance Sheet and Thereafter [Member]	'
Leases [Line Items]	'
Operating Days	'3450 days
Time Charters In [Member]	'
Leases [Line Items]	'
2014	27,797
2015	24,167
2016	1,004
Net minimum lease payments	$52,968
Operating Days	'4670 days
Time Charters In [Member] \| One Year From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'2461 days
Time Charters In [Member] \| More Than One and Within Two Years From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'2136 days
Time Charters In [Member] \| More Than Two and Within Three Years From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'73 days

Leases_Details_1

Leases (Details 1) (Charter Out [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
2014	$266,221
2015	232,426
2016	148,524
2017	91,201
2018	55,337
Thereafter	29,387
Future minimum revenues	$823,096
Revenue Days	'17147 days
One Year From Balance Sheet [Member]	'
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
Revenue Days	'6835 days
More Than One and Within Two Years From Balance Sheet [Member]	'
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
Revenue Days	'4602 days
More Than Two and Within Three Years From Balance Sheet [Member]	'
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
Revenue Days	'2846 days
More Than Three and Within Four Years From Balance Sheet [Member]	'
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
Revenue Days	'1640 days
More Than Four and Within Five Years From Balance Sheet [Member]	'
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
Revenue Days	'881 days
More Than Five Years From Balance Sheet and Thereafter [Member]	'
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
Revenue Days	'343 days

Leases_Details_Textual

Leases (Details Textual) (USD $)	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified		Charters In [Member]	Bareboat Charters In [Member]	Time Charters In [Member]	Charter Out [Member]	Charter Out [Member]
						Contract of Affreightmen [Member]
Leases [Line Items]	'	'	'	'	'	'
Commitments to charter in vessels, Number of Units	'	21	13	8	'	'
Estimated For Lease Termination Costs	$159,189	'	'	'	'	'
Operating Leases, Future Minimum Payments Receivable, Current	'	'	'	'	266,221	21,560
Operating Leases, Future Minimum Payments Receivable, in Two Years	'	'	'	'	232,426	26,559
Operating Leases, Future Minimum Payments Receivable, in Three Years	'	'	'	'	148,524	22,023
Operating Leases, Future Minimum Payments Receivable, in Four Years	'	'	'	'	91,201	22,347
Operating Leases, Future Minimum Payments Receivable, in Five Years	'	'	'	'	55,337	22,698
Operating Leases, Future Minimum Payments Receivable, Thereafter	'	'	'	'	$29,387	$29,387

Pension_and_Other_Postretireme1

Pension and Other Postretirement Benefit Plans (Details Textual) (Pension Benefits [Member])	3 Months Ended			12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
	USD ($)	Maximum [Member]	Maximum [Member]	Maximum [Member]
		USD ($)	GBP (£)	USD ($)
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]	'	'	'	'
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year	$1,320	'	'	'
Defined Benefit Plan, Contributions by Employer	'	8,158	4,896	8,073
Pension Contributions	$803	'	'	'

Agreements_with_Executive_Offi2

Agreements with Executive Officers and Severance Costs (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Severance Reserve April 2013 RIF [Member]	'
Actvity for the three months ended March 31, 2014	'
Balance as of January 1, 2014	$1,368
Original estimate	0
Utilized	-1,059
Balance at March 31, 2014	309
Severance Reserve Outsourcing RIF [Member]	'
Actvity for the three months ended March 31, 2014	'
Balance as of January 1, 2014	0
Original estimate	6,334
Utilized	-289
Balance at March 31, 2014	$6,045

Agreements_with_Executive_Offi3

Agreements with Executive Officers and Severance Costs (Details Textual) (USD $)	3 Months Ended		12 Months Ended	1 Months Ended	3 Months Ended				3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Feb. 28, 2013	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2014
				Chief Executive Officer [Member]	Chief Executive Officer [Member]	Non Executive Employees Incentive Program [Member]	Non Executive Employees Incentive Program [Member]	Non Executive Employees Incentive Program [Member]	Non Executive Employees Incentive Program [Member]	Non Executive Employees Incentive Program [Member]	One-time Termination Benefits [Member]
							To Achieve Objectives [Member]	For Additional Responsibilities [Member]	Minimum [Member]	Maximum [Member]
Restructuring Cost and Reserve [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Severance Costs	$6,683	($422)	$3,427	'	'	'	'	'	'	'	'
Allocated Share-based Compensation Expense, Total	'	'	'	3,209	'	'	'	'	'	'	'
Vessel Technical Management Relocation Description	'During the quarter ended March 31, 2013, the Company released excess reserves (net of additional provision) aggregating $422 that were related to the relocation of the technical management of its conventional International Flag crude oil tanker fleet from its Newcastle, U.K. office to its Athens, Greece office	'	'	'	'	'	'	'	'	'	'
Excess Reserves Net Of Additional Provisions	'	422	'	'	'	'	'	'	'	'	'
Bankruptcy Claims, Amount of Claims Filed	255,760	'	'	'	6,399	'	'	'	'	'	'
Restructuring Charges, Total	'	'	'	'	'	'	'	'	'	'	34,000
Business Exit Costs	'	'	'	'	'	21,000	'	'	'	'	21,000
Other Restructuring Costs	'	'	'	'	'	'	'	'	'	'	13,000
Deferred Compensation Arrangement with Individual, Cash Awards Granted, Percentage	'	'	'	'	'	'	'	'	25.00%	75.00%	'
Deferred Compensation Arrangement with Individual, Cash Award Granted, Amount	'	'	'	'	'	$6,000	$5,000	$1,000	'	'	'

Contingencies_Details_Textual

Contingencies (Details Textual) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Loss Contingencies [Line Items]	'
Litigation Settlement, Amount	$5,000

Condensed_Combined_Financial_S2

Condensed Combined Financial Statements of Debtor Subsidiaries (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Current Assets:	'	'	'	'
Cash and cash equivalents	$638,677	$601,927	$556,618	$507,342
Voyage receivables	143,941	147,964	'	'
Income taxes recoverable	11,646	3,952	'	'
Inventories, prepaid expenses and other current assets	44,947	41,168	'	'
Deferred income taxes	5,464	5,464	'	'
Total Current Assets	860,012	817,313	'	'
Vessels and other property less accumulated depreciation	2,331,454	2,359,352	'	'
Deferred drydock expenditures, net	54,065	57,248	'	'
Total Vessels, Deferred Drydock and Other Property	2,385,519	2,416,600	'	'
Investments in affiliated companies	325,777	323,327	'	'
Intangible assets, less accumulated amortization	58,996	60,167	'	'
Other assets	28,035	27,087	'	'
Total Assets	3,658,339	3,644,494	4,031,162	'
Current Liabilities:	'	'	'	'
Accounts payable, accrued expenses and other current liabilities	122,474	121,582	'	'
Income taxes payable, including reserve for uncertain tax positions of $234,623 and $234,623	256,709	256,258	'	'
Total Current Liabilities	379,183	377,840	'	'
Reserve for uncertain tax positions	26,685	26,585	'	'
Deferred income taxes	378,362	369,954	'	'
Other Liabilities	43,132	42,189	'	'
Liabilities subject to compromise, including pre-petition intercompany payables	2,882,309	2,888,173	'	'
Total Liabilities	3,709,671	3,704,741	'	'
Equity:	'	'	'	'
Total Equity	-51,332	-60,247	372,860	534,246
Total Liabilities and Equity	3,658,339	3,644,494	'	'
Combined Debtor Entities [Member]	'	'	'	'
Current Assets:	'	'	'	'
Cash and cash equivalents	600,232	585,907	517,460	471,726
Voyage receivables	142,905	147,107	'	'
Income taxes recoverable	11,631	3,941	'	'
Other receivables	13,822	16,040	'	'
Inventories, prepaid expenses and other current assets	47,807	44,692	'	'
Deferred income taxes	5,464	5,464	'	'
Total Current Assets	821,861	803,151	'	'
Vessels and other property less accumulated depreciation	2,323,926	2,351,628	'	'
Deferred drydock expenditures, net	54,065	57,248	'	'
Total Vessels, Deferred Drydock and Other Property	2,377,991	2,408,876	'	'
Investments in affiliated companies	325,777	323,327	'	'
Intangible assets, less accumulated amortization	58,778	59,943	'	'
Investments in subsidiaries	147,921	147,921	'	'
Pre and Post-petition intercompany loans receivable and accrued interest	58,488	31,588	'	'
Pre-petition intercompany receivables	2,244,406	2,244,406	'	'
Post-petition intercompany receivables	19,124	15,819	'	'
Other assets	27,951	26,896	'	'
Total Assets	6,082,297	6,061,927	'	'
Current Liabilities:	'	'	'	'
Accounts payable, accrued expenses and other current liabilities	94,938	96,007	'	'
Income taxes payable, including reserve for uncertain tax positions of $234,623 and $234,623	256,436	255,987	'	'
Total Current Liabilities	351,374	351,994	'	'
Reserve for uncertain tax positions	26,685	26,585	'	'
Deferred income taxes	378,367	369,942	'	'
Other Liabilities	31,842	30,977	'	'
Post-petition intercompany payables	52,790	48,677	'	'
Liabilities subject to compromise, including pre-petition intercompany payables	5,035,215	5,041,334	'	'
Total Liabilities	5,876,273	5,869,509	'	'
Equity:	'	'	'	'
Total Equity	206,024	192,418	'	'
Total Liabilities and Equity	$6,082,297	$6,061,927	'	'

Condensed_Combined_Financial_S3

Condensed Combined Financial Statements of Debtor Subsidiaries (Details 1) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Shipping Revenues:	'	'	'
Pool revenues	$45,067	$56,255	'
Time and bareboat charter revenues	95,128	83,801	'
Voyage charter revenues	152,251	107,382	'
Shipping revenues	292,446	247,438	'
Operating Expenses:	'	'	'
Voyage expenses	77,893	51,793	'
Vessel expenses	66,671	66,367	'
Charter hire expenses	45,482	65,460	'
Depreciation and amortization	40,078	43,271	'
General and administrative	24,425	19,726	'
Technical management transition costs	194	0	'
Severance Costs	6,683	-422	3,427
(Gain)/loss on disposal of vessels	-1,477	22	'
Total Operating Expenses	259,949	246,217	'
Income from Vessel Operations	32,497	1,221	'
Equity in Income of Affiliated Companies	8,494	10,290	'
Operating Income	40,991	11,511	'
Other Expense	134	-199	'
Income before Interest Expense, Reorganization Items and Income Taxes	41,125	11,312	'
Interest expense	-123	-288	'
Income before Reorganization Items and Income Taxes	41,002	11,024	'
Reorganization Items, net	-29,256	-184,621	'
Income/(loss) before Income Taxes	11,746	-173,597	'
Income tax benefit/(provision)	-1,329	5,835	'
Net Income/(Loss)	10,417	-167,762	'
Combined Debtor Entities [Member]	'	'	'
Shipping Revenues:	'	'	'
Pool revenues	45,069	56,267	'
Time and bareboat charter revenues	95,128	83,801	'
Voyage charter revenues	152,251	107,549	'
Shipping revenues	292,448	247,617	'
Operating Expenses:	'	'	'
Voyage expenses	77,893	51,986	'
Vessel expenses	66,949	66,514	'
Charter hire expenses	45,482	65,458	'
Depreciation and amortization	39,871	42,946	'
General and administrative	18,827	14,353	'
Technical management transition costs	140	0	'
Severance Costs	2,882	0	'
(Gain)/loss on disposal of vessels	-1,473	28	'
Total Operating Expenses	250,571	241,285	'
Income from Vessel Operations	41,877	6,332	'
Equity in Income of Affiliated Companies	8,494	10,290	'
Operating Income	50,371	16,622	'
Other Expense	-4,658	-2,789	'
Income before Interest Expense, Reorganization Items and Income Taxes	45,713	13,833	'
Interest expense	-123	-288	'
Income before Reorganization Items and Income Taxes	45,590	13,545	'
Reorganization Items, net	-29,256	-184,621	'
Income/(loss) before Income Taxes	16,334	-171,076	'
Income tax benefit/(provision)	-1,330	5,835	'
Net Income/(Loss)	$15,004	($165,241)	'

Condensed_Combined_Financial_S4

Condensed Combined Financial Statements of Debtor Subsidiaries (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Cash Flows from Operating Activities:	'	'
Net Income/(loss)	$10,417	($167,762)
Items included in net loss not affecting cash flows:	'	'
Depreciation and amortization	40,078	43,271
Amortization of deferred gain on sale and leasebacks	0	42
Compensation relating to restricted stock and stock option grants	542	-1,782
Deferred income tax provision/(benefit)	8,461	-9,704
Undistributed earnings of affiliated companies	-4,996	-6,719
Deferred payment obligations on charters-in	1,102	1,377
Reorganization items, non-cash	14,259	177,213
Gain on sublease contracts	0	-344
Other - net	567	1,252
Items included in net loss related to investing and financing activities:	'	'
Loss on sale of securities and other investments - net	0	303
(Gain)/loss on disposal of vessels - net	-1,477	22
Payments for drydocking	-5,738	-3,834
Changes in operating assets and liabilities	-19,157	34,096
Net cash provided by operating activities	44,058	67,431
Cash Flows from Investing Activities:	'	'
Proceeds from sale of marketable securities and investments	0	179
Expenditures for vessels	-9,510	-12,203
Proceeds from/deposits received for disposal of vessels	7,594	472
Expenditures for other property	-54	-278
Other - net	131	-81
Net cash used in investing activities	-1,839	-11,911
Cash Flows from Financing Activities:	'	'
Purchases of treasury stock	-162	-42
Payments on debt, including adequate protection payments	-5,307	-6,202
Net cash used in financing activities	-5,469	-6,244
Net increase in cash and cash equivalents	36,750	49,276
Cash and cash equivalents at beginning of year	601,927	507,342
Cash and cash equivalents at end of period	638,677	556,618
Combined Debtor Entities [Member]	'	'
Cash Flows from Operating Activities:	'	'
Net Income/(loss)	15,004	-165,241
Items included in net loss not affecting cash flows:	'	'
Depreciation and amortization	39,871	42,946
Amortization of deferred gain on sale and leasebacks	0	42
Compensation relating to restricted stock and stock option grants	542	-1,930
Deferred income tax provision/(benefit)	8,461	-9,704
Undistributed earnings of affiliated companies	-4,996	-6,719
Deferred payment obligations on charters-in	1,102	1,377
Reorganization items, non-cash	14,259	177,213
Gain on sublease contracts	0	-344
Other - net	557	1,400
Items included in net loss related to investing and financing activities:	'	'
Loss on sale of securities and other investments - net	0	303
(Gain)/loss on disposal of vessels - net	-1,473	22
Payments for drydocking	-5,738	-3,834
Changes in operating assets and liabilities	-19,130	-12,986
Net cash provided by operating activities	48,459	22,545
Cash Flows from Investing Activities:	'	'
Proceeds from sale of marketable securities and investments	0	179
Expenditures for vessels	-9,510	-12,203
Proceeds from/deposits received for disposal of vessels	7,594	472
Expenditures for other property	-58	-98
Net change in intercompany loans due from non-debtors	-26,827	41,169
Other - net	136	-86
Net cash used in investing activities	-28,665	29,433
Cash Flows from Financing Activities:	'	'
Purchases of treasury stock	-162	-42
Payments on debt, including adequate protection payments	-5,307	-6,202
Net cash used in financing activities	-5,469	-6,244
Net increase in cash and cash equivalents	14,325	45,734
Cash and cash equivalents at beginning of year	585,907	471,726
Cash and cash equivalents at end of period	$600,232	$517,460

Condensed_Combined_Financial_S5

Condensed Combined Financial Statements of Debtor Subsidiaries (Details Textual) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]	'	'
Reserve for uncertain tax positions	$234,623	$234,623
Combined Debtor Entities [Member]	'	'
Condensed Financial Statements, Captions [Line Items]	'	'
Reserve for uncertain tax positions	$234,623	$234,623