Overseas Shipholding Group, Inc. - Ordinary Shares (OSG) 10-Q 4 Aug 14 2014 Q2 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
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	'	30,546,810
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Jun-14	'
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Current Assets:	'	'
Cash and cash equivalents	$644,905	$601,927
Voyage receivables, including unbilled of $75,829 and $113,336	112,227	147,964
Income tax recoverable	23,407	3,952
Other receivables	19,197	16,838
Inventories, prepaid expenses and other current assets	51,350	41,168
Deferred income taxes	5,464	5,464
Total Current Assets	856,550	817,313
Vessels and other property, including construction in progress of $61,859 and $54,644, less accumulated depreciation of $586,208 and $524,948	2,302,017	2,359,352
Deferred drydock expenditures, net	56,515	57,248
Total Vessels, Deferred Drydock and Other Property	2,358,532	2,416,600
Investments in affiliated companies	336,841	323,327
Intangible assets, less accumulated amortization of $35,506 and $33,164	57,825	60,167
Other assets	45,686	27,087
Total Assets	3,655,434	3,644,494
Current Liabilities:	'	'
Accounts payable, accrued expenses and other current liabilities	138,293	121,582
Income taxes payable, including reserve for uncertain tax positions of $248,486 and $234,623	270,925	256,258
Total Current Liabilities	409,218	377,840
Reserve for uncertain tax positions	26,764	26,585
Deferred income taxes	325,044	369,954
Other liabilities	44,203	42,189
Liabilities subject to compromise	3,106,056	2,888,173
Total Liabilities	3,911,285	3,704,741
Deficit:	'	'
Total Deficit	-255,851	-60,247
Total Liabilities and Deficit	$3,655,434	$3,644,494

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Unbilled Contracts Receivable (in dollars)	$75,829	$113,336
Vessels and other property, construction in progress (in dollars)	61,859	54,644
Vessels and other property, accumulated depreciation (in dollars)	586,208	524,948
Intangible Assets, accumulated amortization (in dollars)	35,506	33,164
Income taxes payable ,reserve for uncertain tax positions (in dollars)	$248,486	$234,623

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Shipping Revenues:	'	'	'	'
Pool revenues, including $15,386, $22,888, $37,223 and $46,155 received from companies accounted for by the equity method	$28,410	$48,252	$73,477	$104,507
Time and bareboat charter revenues	96,609	91,616	191,737	175,417
Voyage charter revenues	116,758	88,246	269,009	195,628
Shipping revenues	241,777	228,114	534,223	475,552
Operating Expenses:	'	'	'	'
Voyage expenses	70,129	41,948	148,022	93,741
Vessel expenses	66,726	64,311	133,397	130,678
Charter hire expenses	39,983	49,964	85,465	115,424
Depreciation and amortization	39,529	42,872	79,607	86,143
General and administrative	19,485	26,329	43,910	46,055
Technical management transition costs	1,638	0	1,832	0
Severance costs	7,964	3,486	14,647	3,064
Gain on disposal of vessels and other fixed assets	-4	-1,228	-1,481	-1,206
Total Operating Expenses	245,450	227,682	505,399	473,899
Income/(loss) from Vessel Operations	-3,673	432	28,824	1,653
Equity in income of affiliated companies	9,637	10,573	18,131	20,863
Operating income	5,964	11,005	46,955	22,516
Other income	145	483	279	284
Income before interest expense, reorganization items and income taxes	6,109	11,488	47,234	22,800
Interest expense	-174,511	-31	-174,634	-319
Income/(loss) before reorganization items and income taxes	-168,402	11,457	-127,400	22,481
Reorganization items, net	-86,123	-37,503	-115,379	-222,124
Loss before income taxes	-254,525	-26,046	-242,779	-199,643
Income tax benefit	50,414	1,899	49,085	7,734
Net Loss	($204,111)	($24,147)	($193,694)	($191,909)
Weighted Average Number of Common Shares Outstanding:	'	'	'	'
Basic (in shares)	30,546,423	30,493,980	30,531,493	30,471,469
Diluted (in shares)	30,546,423	30,493,980	30,531,493	30,471,469
Per Share Amounts:	'	'	'	'
Basic net income/(loss) (in dollars per share)	($6.68)	($0.79)	($6.34)	($6.30)
Diluted net income/(loss) (in dollars per share)	($6.68)	($0.79)	($6.34)	($6.30)

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Pool revenues, received from companies accounted for by the equity method	$15,386	$22,888	$37,223	$46,155

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Net Loss	($204,111)	($24,147)	($193,694)	($191,909)
Other Comprehensive (Loss)/Income, net of tax:	'	'	'	'
Net change in unrealized holding losses on available-for-sale securities	0	0	0	-49
Net change in unrealized losses on cash flow hedges	-1,939	20,456	-3,717	28,273
Defined benefit pension and other postretirement benefit plans:	'	'	'	'
Net change in unrecognized prior service costs	12	1	17	-20
Net change in unrecognized actuarial losses	-252	-19	-361	434
Other Comprehensive (Loss)/Income	-2,179	20,438	-4,061	28,638
Comprehensive Loss	($206,290)	($3,709)	($197,755)	($163,271)

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013
Cash Flows from Operating Activities:	'	'
Net loss	($193,694)	($191,909)
Items included in net loss not affecting cash flows:	'	'
Depreciation and amortization	79,607	86,143
Amortization of deferred gain on sale and leasebacks	0	42
Compensation relating to restricted stock and stock option grants	517	-1,014
Deferred income tax benefit	-44,903	-11,229
Undistributed earnings of affiliated companies	-14,633	-17,292
Deferred payment obligations on charters-in	1,940	2,769
Contractual post-petition interest accrued on liabilities subject to compromise	174,476	0
Reorganization items, non-cash	64,469	196,092
Gain on sublease contracts	0	-691
Other - net	1,377	1,193
Items included in net loss related to investing and financing activities:	'	'
Loss on sale of securities and other investments - net	0	200
Gain on disposal of vessels - net	-1,481	-1,206
Payments for drydocking	-15,712	-9,017
Changes in other operating assets and liabilities	13,067	44,963
Net cash provided by operating activities	65,030	99,044
Cash Flows from Investing Activities:	'	'
Proceeds from sale of marketable securities and investments	0	238
Expenditures for vessels	-15,721	-14,077
Proceeds from disposal of vessels	7,594	485
Expenditures for other property	-216	-1,441
Other - net	185	2,009
Net cash used in investing activities	-8,158	-12,786
Cash Flows from Financing Activities:	'	'
Purchases of treasury stock	-162	-42
Payments on debt, including adequate protection payments	-5,307	-6,774
Deferred financing costs paid	-8,425	0
Net cash used in financing activities	-13,894	-6,816
Net increase in cash and cash equivalents	42,978	79,442
Cash and cash equivalents at beginning of year	601,927	507,342
Cash and cash equivalents at end of period	$644,905	$586,784

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
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 loss	-191,909	'		'	-191,909	'	'
Other comprehensive income/(loss)	28,638	'		'	'	'	28,638	[2]
Forfeitures of restricted stock awards	0	'		0	'	0	'
Forfeitures of restricted stock awards (in shares)	'	'		'	'	108,516	'
Compensation related to options granted	-370	'		-370	'	0	'
Amortization of restricted stock awards	-644	'		-644	'	0	'
Purchases of treasury stock	-42	'		0	'	-42	'
Purchases of treasury stock (in shares)	'	'		'	'	40,370	'
Balance at Jun. 30, 2013	369,919	44,291	[1]	413,397	832,571	-835,197	-85,143	[2]
Balance (in shares) at Jun. 30, 2013	'	'		'	'	13,545,206	'
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 loss	-193,694	'		'	-193,694	'	'
Other comprehensive income/(loss)	-4,061	'		'	'	'	-4,061	[2]
Forfeitures of restricted stock awards	0	'		3,110	'	-3,110	'
Forfeitures of restricted stock awards (in shares)	'	'		'	'	138,330	'
Compensation related to options granted	278	'		278	'	'	'
Amortization of restricted stock awards	2,035	'		2,035	'	'	'
Purchases of treasury stock	-162	'		'	'	-162	'
Purchases of treasury stock (in shares)	'	'		'	'	30,280	'
Balance at Jun. 30, 2014	($255,851)	$44,291	[1]	$419,176	$192,556	($838,469)	($73,405)	[2]
Balance (in shares) at Jun. 30, 2014	'	'		'	'	13,743,949	'
[1]	Par value $1 per share; 120,000,000 shares authorized; 44,290,759 shares issued as of June 30, 2014.
[2]	Amounts are net of tax.

Basis_of_Presentation_and_Sign

Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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 $34,526 and $20,500 of cash and cash equivalents in the consolidated balance sheets as of June 30, 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 and six month periods ended June 30, 2014 and June 30, 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 55% and 58% of consolidated voyage receivables at June 30, 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 second 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.
	Recently Issued Accounting Standards
	In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (ASC 205) and Property Plant and Equipment (ASC 360), which amends the criteria for reporting discontinued operations. The amendments require that when a component of an entity or group of components of an entity is a) classified as held for sale, b) is disposed of by sale or c) disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spinoff) such disposal would be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. Therefore disposals of small groups of assets that are recurring in nature are less likely to qualify for discontinued operations presentation as a result of the amendments. The amendments are effective for public companies for annual periods and interim periods within those annual periods beginning after December 15, 2014 for all new disposals (or new classifications as held for sale) of components of an entity that occur within those years and all business that, on acquisition, are classified as held for sale that occur within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company does not expect the adoption of the amendments to the accounting standards to have a significant impact on its condensed consolidated financial statements.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606) to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that an entity will apply to determine the measurement and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The revenue standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016 for public companies and early adoption is not permitted. The requirements of this standard include a significant increase in required disclosures. Management is analyzing the impact of the adoption of this guidance on its condensed consolidated financial statements, including assessing changes that might be necessary to information technology systems, processes and internal controls to capture new data and address changes in financial reporting.

Chapter_11_Filing_and_Going_Co

Chapter 11 Filing and Going Concern	6 Months Ended
	Jun. 30, 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. Since the Petition Date, the Debtors have operated 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 have continued 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 creditors and 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 will 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
	During February 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 77% 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. 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 would be reinstated, following payment of outstanding interest. In connection with the Original Plan, the Debtors entered into a commitment letter with Goldman Sachs Bank USA (the “Goldman Commitment Letter”) to provide $935,000 in exit financing to 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. The Debtors 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
	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 “Equity Plan”) that reflected the terms of the Equity Term Sheet, together with a disclosure statement describing such Equity Proposal (the “Disclosure Statement”).
	In accordance with their support of the Equity 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 Equity Plan.
	The Debtors also entered into a new equity commitment agreement (the “ECA”) with certain Equity Holders, who collectively held approximately 30% of the outstanding shares of the Company (each, a “Commitment Party” and, collectively, the “Commitment Parties”). The ECA was amended on May 20, 2014 (the “Equity Commitment Agreement Amendment”) and on May 26, 2014, (the “Second Equity Commitment Agreement Amendment”) (and collectively with the ECA, the “Equity Commitment Agreement”). Pursuant to the Equity Commitment Agreement, each Commitment Party has agreed to purchase shares in a rights offering (the “Rights Offering”) with an aggregate offering amount of $1,510,000. Each Commitment Party has committed to purchase shares in respect of unexercised subscription rights (each such right, a “Subscription Right”) in the Rights Offering in proportion to the commitment percentage set forth in the Equity Commitment Agreement. The Rights Offering will be backstopped by each Commitment Party or its designee on a several but not joint basis. 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 twelve 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 Second Equity Commitment Agreement Amendment joined certain additional parties to the Equity Commitment Agreement as Commitment Parties. Certain of those additional parties were holders of the Company’s 7.50% Senior Notes due 2024 (the “7.50% 2024 Notes”) and had previously filed objections to the Debtors’ proposed Disclosure Statement and expressed an intention to oppose confirmation of the Debtors’ Amended Equity Plan (as defined below). Pursuant to the terms of the Second Equity Commitment Agreement Amendment, those parties agreed to support and vote in favor of the Amended Equity Plan and withdrew their previously-filed objections. The Equity Commitment Agreement was approved by the Bankruptcy Court on May 27, 2014.
	On May 21, 2014, the Debtors filed with the Bankruptcy Court the first amendment to the Equity Plan and Disclosure Statement and on May 26, 2014 the Debtors filed with the Bankruptcy Court the further amendment to the Equity Plan and Disclosure Statement (the “Amended Equity Plan” and “Amended Disclosure Statement,” respectively).
	Pursuant to the Amended Equity Plan, each holder of the 7.50% 2024 Notes will have its 7.50% 2024 Notes reinstated and will receive a cash payment equal to the amount of unpaid and overdue interest, unless such holder elected by July 7, 2014 to receive an alternative distribution (the “Alternative Distribution”) of new notes (the “Election 1 Notes”). The Election 1 Notes will be due February 15, 2021 and will otherwise have the same terms as the 7.50% 2024 Notes. Each holder that elected to receive the Alternative Distribution will receive Election 1 Notes with a principal amount equal to that of the 7.50% 2024 Notes currently owned by that holder together with a cash payment equal to 1% of the principal amount of the 7.50% 2024 Notes held by such holder and a cash payment equal to the amount of unpaid and overdue interest that would have been owed under the 7.50% 2024 Notes if they were reinstated (together with any interest that has accrued but is not due for payment as of the effective date of the Amended Equity Plan).
	On July 15, 2014, the Amended Equity Plan was further amended (the “Second Amended Equity Plan”) to reflect an agreement by holders of approximately 74% of the principal amount of the 7.50% 2024 Notes, which provided (i) for the payment in cash of a consent fee to holders of 7.50% 2024 Notes validly and timely electing by July 22, 2014 to receive Election 2 Notes (“Election 2 Noteholders”) equal to 3% of the aggregate principal amount of the 7.50% 2024 Notes held by such Election 2 Noteholders, (ii) that interest on overdue interest shall not be due and payable to Election 2 Noteholders in respect of the 7.50% 2024 Notes and (iii) for the addition of new definitions for Election 1 Notes and Election 2 Notes, which Election 2 Notes will be issued pursuant to the terms of a supplemental indenture. The Debtors reopened the Election period under the Second Amended Equity Plan and provided notice to Holders of 7.50% 2024 Notes who elected to receive Election 1 Notes, and all other 7.50% 2024 Noteholders. A tabulation of the election forms submitted by July 22, 2014 indicated that Holders of 7.50% 2024 Notes representing 95.01% of the aggregate principal amount of the 7.50% 2024 Notes outstanding, elected to receive Election 2 Notes and 4.46% elected to receive Election 1 Notes.
	Registration Rights Agreement
	On May 2, 2014, the Debtors entered into a registration rights agreement with each Commitment Party (the “Registration Rights Agreement”) setting forth, among other things, registration rights of each Commitment Party and, potentially, certain other holders of Class A shares and Class A warrants. Pursuant to the Registration Rights Agreement, OSG will be required to register, on a registration statement to be filed with the Securities and Exchange Commission, the resale of certain Class A securities for the benefit of the Commitment Parties and potentially certain other shareholders.
	On May 26, 2014, the Debtors and each of the Commitment Parties entered into an amendment to the Registration Rights Agreement (the “Registration Rights Agreement Amendment”). The Registration Rights Agreement Amendment joined certain additional parties to the Registration Rights Agreement as Commitment Parties. The Registration Rights Agreement, as amended, was approved by the Bankruptcy Court on May 27, 2014.
	Exit Facilities
	On May 2, 2014, Jefferies Finance LLC (“Jefferies”) executed commitment documents whereby Jefferies agreed to provide secured debt financing to support the Equity Plan. After amendments increasing the amount of secured debt financing, the commitment consists of (i) a term loan of approximately $603 million secured by a first lien on substantially all the Debtors’ U.S. Flag assets other than certain specified assets and a second lien on these specified assets, (ii) a term loan of approximately $628.4 million 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 below, (iii) an asset-based revolving loan facility of $75 million secured by a first lien on certain specified U.S. Flag assets of the Debtors and a second lien on substantially all the Debtors’ U.S. Flag assets and (iv) a revolving loan facility of $50 million secured by a pari passu first lien on substantially all the Debtors’ International Flag assets (the “Exit Financing”) that, collectively, will provide the Debtors with the funding necessary to satisfy the Amended Equity Plan’s cash payment obligations, the expenses associated with closing the Exit Financing facilities and working capital to fund their operations after emergence from Chapter 11. The commitment letter entered into in connection with the Exit Financing was approved by the Bankruptcy Court on May 27, 2014.
	On May 27, 2014, the Amended Disclosure Statement was approved by the Bankruptcy Court (the “Disclosure Statement Order”). Pursuant to such approval, the Debtors solicited and received acceptances of the Amended Equity Plan by the classes of claims eligible to vote for the acceptance or rejection of the Amended Equity Plan and received confirmation of the Amended Equity Plan by the Bankruptcy Court on July 18, 2014.
	The Bankruptcy Court’s order confirming the Amended Equity Plan became a final order when the appeal period expired on August 1, 2014. The Amended Equity Plan will become effective after the completion of certain remaining steps, including closing by the Company of the Exit Financing and completion of its Rights Offering process. Management currently anticipates that the Company’s Amended Equity Plan will become effective on or about August 5, 2014, however, there can be no assurance that the Amended Equity Plan will become effective.
	Going Concern and Financial Reporting
	The ongoing Chapter 11 Cases raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying condensed 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.
	As a result of the confirmation of the Amended Equity Plan (the “Confirmed Plan”) on July 18, 2014, the amounts disclosed in the condensed consolidated financial statements as of June 30, 2014 and for the three and six months ended June 30, 2014 give effect to certain material adjustments made to the amounts reported as liabilities subject to compromise and income taxes payable in the condensed consolidated financial statements that were a consequence of confirmation of the Amended Equity Plan (See Note 3, “Liabilities Subject to Compromise and Reorganization Items”). Further, the Company expects to record additional material charges through the period in which the Amended Equity Plan becomes effective, including success fees due to certain advisors that become due upon the Company’s emergence from bankruptcy (estimated at approximately $27,500), post-petition interest on debt, the Internal Revenue Service (“IRS”) claim and certain other claims subsequent to July 1, 2014. Additionally, as a consequence of the Confirmed Plan becoming effective, material changes to the classifications of amounts reported in the consolidated historical financial statements will occur.
	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 were classified as liabilities subject to compromise in the Company’s condensed consolidated balance sheet. 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_Comprom

Liabilities Subject to Compromise and Reorganization Items	6 Months Ended
	Jun. 30, 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 prepetition 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 condensed consolidated balance sheets as of June 30, 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, or other events. Liabilities subject to compromise reflect estimates based upon negotiations with creditors that have resulted in amended claims and/or stipulations that have received or are expected to receive Bankruptcy Court approval. The changes in estimates primarily relate to estimated allowed claims reported in the Amended Equity Plan, which was subsequently confirmed by the Bankruptcy Court, including certain subordinated and other unsecured claims and post-petition interest on claims. The Company cannot provide assurance relating to the value of the claims that will ultimately be allowed by the Bankruptcy Court as claim negotiations will continue through the effective date of the Confirmed Plan. 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:
			June 30,		December 31,
	As of		2014		2013
	Pre-petition accounts payable and other accrued liabilities		$	26,536	$	4,565
	Secured long-term debt and accrued interest			592,439		569,408
	Unsecured senior notes			509,603		500,780
	Unsecured revolving credit facility			1,489,000		1,489,000
	Accrued interest and fees on unsecured revolving credit facility and senior notes			161,034		10,878
	Derivative liabilities			3,566		3,566
	Accrued post-petition interest on other claims			1,620		-
	Accrued liabilities, including post-petition interest, relating to rejected executory contracts			295,867		282,599
	Pension and other postretirement benefit plan liabilities			26,391		27,377
			$	3,106,056	$	2,888,173
	The following tables summarize activity related to the reserve for rejected executory contracts component of liabilities subject to compromise for the three and six months ended June 30, 2014 and June 30, 2013.
			Three Months Ended
			June 30,
			2014		2013
	Balance at April 1,		$	282,599	$	189,753
	Original provision			-		21,316
	Change in estimate – post petition interest			13,077		-
	Other, principally reclassification of other liabilities related to rejected executory contracts			191		3,197
	Balance at June 30,		$	295,867	$	214,266
			Six Months Ended
			June 30,
			2014		2013
	Balance as of January 1,		$	282,599	$	30,539
	Original provision			-		180,505
	Change in estimate – post-petition interest			13,077		-
	Other, principally reclassification of other liabilities related to rejected executory contracts			191		3,222
	Balance at June 30,		$	295,867	$	214,266
	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
			June 30,
			2014		2013
	Trustee fees		$	769	$	756
	Professional fees			34,228		13,745
	Provision for and expenses incurred on rejected executory contracts including post-petition interest (a)			6,212		23,002
	Provision for post-petition interest on debt facilities (a)			11,525		-
	Provision for post-petition interest on other claims			1,620		-
	2004 Stock Incentive Plan termination			1,796		-
	Provision for class action lawsuit and other subordinated claims			17,000		-
	Other claims adjustments			12,973		-
			$	86,123	$	37,503
			Six Months Ended
			June 30,
			2014		2013
	Trustee fees		$	1,528	$	1,552
	Professional fees			62,725		32,376
	Provision for and expenses incurred on rejected executory contracts including post-petition interest (a)			6,212		188,196
	Provision for post-petition interest on debt facilities (a)			11,525		-
	Provision for post-petition interest on other claims			1,620		-
	2004 Stock Incentive Plan termination			1,796		-
	Provision for class action lawsuit and other subordinated claims			17,000		-
	Other claims adjustments			12,973		-
			$	115,379	$	222,124
		(a)	Contractual post-petition interest for debt facilities and certain rejected executory contracts of $167,451 and $7,025, respectively, is reported as interest expense in the condensed consolidated statements of operations for the three and six months ended June 30, 2014. See Note 5, “Debt.”
	The table above reflects a provision for the Company’s agreement to a stipulated settlement for a Class Action claim filed with the Bankruptcy Court, which provides for cash payments of $15,000 and certain payments contingent upon the outcome of the Company's malpractice lawsuit against Proskauer and other events. The Company incurred fees totaling $4,413 and $8,897 during the three and six month periods ended June 30, 2014, respectively, and $3,616 and $7,764 during the three and six month periods ended June 30, 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 $30,672 and $47,308 for the three and six months ended June 30, 2014 and $18,624 and $26,032 for the three and six months ended June 30, 2013.

Earnings_per_Common_Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 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. As further described in Note 12 “Capital Stock and Stock Compensation,” the Company rejected the 2004 Stock Incentive Plan and cancelled all unvested awards thereunder effective June 1, 2014. As a result, there are no participating securities or potentially dilutive stock options, restricted stock units or restricted common shares outstanding, for the period from June 1, 2014 through June 30, 2014.
	The components of the calculation of basic earnings per share and diluted earnings per share are as follows:
		Three Months Ended
		June 30,
		2014		2013
	Net loss	$	-204,111	$	-24,147
	Common shares outstanding, basic and diluted:
	Weighted average shares outstanding, basic and diluted		30,546,423		30,493,980
		Six Months Ended
		June 30,
		2014		2013
	Net loss	$	-193,694	$	-191,909
	Common shares outstanding, basic and diluted:
	Weighted average shares outstanding, basic and diluted		30,531,493		30,471,469
	There were no dilutive equity awards outstanding as of June 30, 2014 and June 30, 2013. Awards of 0 and 1,186,043 shares of common stock for the three months ended June 30, 2014 and 2013, respectively, and 0 and 1,219,006 shares of common stock for the six months ended June 30, 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	6 Months Ended
	Jun. 30, 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 June 30, 2014 and December 31, 2013, in accordance with ASC 852. As interest on the Company’s debt subsequent to the Petition Date was not expected to be an allowed claim, the Company ceased accruing interest on its debt on November 14, 2012. As of June 30, 2014, liabilities subject to compromise includes reserves for estimated allowed claims relating to 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 in the amount of principal plus post-petition interest at the applicable contractual rate (including default interest, as applicable), stipulated settlements and other changes in estimates relating to post-petition interest through June 30, 2014 and certain fees and expenses of the respective creditors. Under ASC 852, original issue discounts and deferred financing costs are viewed as part of the valuation of the pre-petition debt that is subject to compromise. Therefore, the Company recorded charges aggregating $8,823 as reorganization items in the statement of operations for the three and six months ended June 30, 2014 for unamortized original issue discount and unamortized deferred financing costs related to the Unsecured Senior Notes since such Unsecured Senior Notes were reinstated at the full amount of face value outstanding.
	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.
	For the three and six months ended June 30, 2014, the Company recorded a charge of $73,637 to interest expense in the condensed consolidated statement of operations for a change in estimate of the allowed claim for the Unsecured Revolving Credit Facility relating to post-petition contractual interest (which includes default interest).
	During the three and six months ended June 30, 2013, interest expense of $3,570 and $7,362, 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 and six months ended June 30, 2014, the Company recorded a charge of $73,660 to interest expense for post-petition contractual interest ( including default interest, as applicable) due on the Unsecured Senior Notes and charges totaling $10,765 to reorganization items to write off unamortized original issue discount and unamortized deferred financing charges and to accrue for a change in estimate of allowed claims relating to the Unsecured Senior Notes pursuant to the Amended Equity Plan.
	During the three and six months ended June 30, 2013, interest expense of $10,590 and $21,180, including $367 and $734 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 June 30, 2014, 15 vessels representing approximately 24% of the net book value of the Company’s vessels are pledged as collateral under certain term loans maturing between 2020 and 2023. As of December 31, 2012, the Company was not in compliance with the loan-to-value covenants under the following debt agreements:
	Term loans maturing in 2020 – This facility with Danish Ship Finance (“DSF”), with an outstanding balance of $266,936 and $263,371 at June 30, 2014 and December 31, 2013, respectively, provided secured term loans covering five MR Product Carriers, two Panamax Product Carriers, two VLCCs and one Aframax. The facility provided 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 as liabilities subject to compromise in the consolidated balance sheets at June 30, 2014 and December 31, 2013. As of December 31, 2013, the loan-to-value ratio was estimated to approximate 97%.
	For the three and six months ended June 30, 2014 the Company recorded a charge of $5,203 to interest expense relating to a) $4,662 of Adequate Protection Interest Payments, which had previously been classified as reductions of outstanding principal and b) $541 of post-petition interest for the period from the Company’s last Adequate Protection Interest Payment dates through June 30, 2014 at the contractual interest rate. The Company also recorded a charge of $4,397 to reorganization items relating to a settlement of disputed default interest for the period from November 14, 2012 through June 30, 2014.
	For the three and six months ended June 30, 2013, interest expense of $872 and $1,749, including $66 and $132, 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 for the DSF secured term loans.
	Term loans maturing in 2023 – This facility with Export-Import Bank of China (“CEXIM”), with an outstanding balance of $311,751 and $302,585 at June 30, 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 as liabilities subject to compromise in the consolidated balance sheets at June 30, 2014 and December 31, 2013. As of December 31, 2013, the loan-to-value ratio was estimated to approximate 91%.
	For the three and six months ended June 30, 2014, the Company recorded a charge of $14,080 to interest expense relating to a) $10,452 of Adequate Protection Interest Payments, which had previously been classified as reductions of outstanding principal and b) $3,628 of post-petition interest for the period from the Company’s last Adequate Protection Interest Payment date through June 30, 2014 at the contractual interest rate. The Company also recorded a charge of $5,187 to reorganization items for a settlement of disputed default interest for the period from November 14, 2012 through June 30, 2014.
	For the three and six months ended June 30, 2013, interest expense of $2,267 and $4,554, including $71 and $142, 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 for the CEXIM secured term loans.
	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 OSG International, Inc. (“OIN”), a wholly owned subsidiary of the Company, (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 had been classified as reductions of outstanding principal through the quarter ended March 31, 2014. Pursuant to the Amended Equity Plan that provides for payment in full of principal outstanding under the Secured Loan Facilities as of the Petition Date, Adequate Protection Interest Payments made during the three months ended June 30, 2014 are reflected as a component of operating activities in the condensed consolidated statement of cash flows for the six months ended June 30, 2014. For the three months ended June 30, 2014 and June 30, 2013, the Company disbursed Adequate Protection Interest Payments relating to the DSF secured term loan of $529 and $572, respectively. For the six months ended June 30, 2014 and June 30, 2013, the Company disbursed Adequate Protection Interest Payments relating to the DSF secured term loan of $1,560 and $1,976, respectively, and the CEXIM secured 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 June 30, 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 June 30, 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 and six months ended June 30, 2014. For the three and six months ended June 30, 2014, the Company recorded a charge of $753 to interest expense and a charge of $23 to reorganization items relating to letter of credit post-petition contractual fees and a change in estimate of the allowed claim for creditor’s legal fees to be reimbursed by the Company, respectively.

Business_and_Segment_Reporting

Business and Segment Reporting	6 Months Ended
	Jun. 30, 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, technical management transition costs, severance 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 was still owned by a U.S. domiciled corporation through June 30, 2014. As a result of the June 30, 2014 intercompany sale of the vessel to a Marshall Islands domiciled subsidiary of the Company, effective July 1, 2014, the results of this vessel will be removed from the U.S. Flag segment and presented in the International Product Carriers segment for all periods presented. 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 and six months ended June 30, 2014 and 2013 follows:
		International
		Crude		Product
	Three months ended	Tankers		Carriers		Other		U.S.		Totals
	June 30, 2014:
	Shipping revenues	$	91,015	$	38,159	$	79	$	112,524	$	241,777
	Time charter equivalent revenues		44,676		21,756		78		105,138		171,648
	Depreciation and amortization		16,292		6,511		471		16,255		39,529
	Gain/(loss) on disposal of vessels		-165		-		170		-1		4
	Income/(loss) from vessel operations		-1,253		-6,199		-124		32,986		25,410
	Equity in income of affiliated companies		7,211		-		2,038		388		9,637
	Investments in affiliated companies at June 30, 2014		287,816		6,325		41,897		803		336,841
	Total assets at June 30, 2014		1,337,824		544,992		41,897		1,035,130		2,959,843
	June 30, 2013:
	Shipping revenues	$	65,290	$	49,940	$	966	$	111,918	$	228,114
	Time charter equivalent revenues		47,828		33,701		942		103,695		186,166
	Depreciation and amortization		18,167		7,320		800		16,585		42,872
	Gain/(loss) on disposal of vessels		1		-1		109		1,119		1,228
	Income/(loss) from vessel operations		-9,515		7,655		-912		31,791		29,019
	Equity in income of affiliated companies		8,191		-		2,006		376		10,573
	Investments in affiliated companies at June 30, 2013		257,560		5,405		31,944		788		295,697
	Total assets at June 30, 2013		1,708,652		586,094		21,797		1,090,269		3,406,812
		International
		Crude		Product
	Six months ended	Tankers		Carriers		Other		U.S.		Totals
	June 30, 2014:
	Shipping revenues	$	228,784	$	85,167	$	39	$	220,233	$	534,223
	Time charter equivalent revenues		127,598		52,519		38		206,046		386,201
	Depreciation and amortization		32,499		12,975		966		33,167		79,607
	Gain/(loss) on disposal of vessels		1,349		-		169		-37		1,481
	Income/(loss) from vessel operations		29,873		-3,733		-640		62,232		87,732
	Equity in income of affiliated companies		15,054		-		2,311		766		18,131
	Expenditures for vessels		8,579		585		-		6,557		15,721
	Payments for drydocking		4,409		5,277		-		6,026		15,712
	June 30, 2013:
	Shipping revenues	$	132,938	$	122,609	$	2,043	$	217,962	$	475,552
	Time charter equivalent revenues		100,598		79,589		2,006		199,618		381,811
	Depreciation and amortization		36,465		14,311		1,654		33,713		86,143
	Gain/(loss) on disposal of vessels		1		-1		115		1,091		1,206
	Income/(loss) from vessel operations		-16,351		12,353		-1,771		55,335		49,566
	Equity in income of affiliated companies		15,878		-		4,127		858		20,863
	Expenditures for vessels		14,028		40		-3		12		14,077
	Payments for drydocking		2,605		277		-		6,135		9,017
	Reconciliations of time charter equivalent revenues of the segments to shipping revenues as reported in the consolidated statements of operations follow:
		Three Months Ended
		June 30,
		2014		2013
	Time charter equivalent revenues	$	171,648	$	186,166
	Add: Voyage expenses		70,129		41,948
	Shipping revenues	$	241,777	$	228,114
		Six Months Ended
		June 30,
		2014		2013
	Time charter equivalent revenues	$	386,201	$	381,811
	Add: Voyage expenses		148,022		93,741
	Shipping revenues	$	534,223	$	475,552
	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/(loss) before reorganization items and income taxes, as reported in the consolidated statements of operations follow:
		Three Months Ended
		June 30,
	2014		2013
Total income from vessel operations of all segments	$	25,410	$	29,019
General and administrative expenses		-19,485		-26,329
Technical management transition costs		-1,638		-
Severance costs		-7,964		-3,486
Gain on disposal of vessels		4		1,228
Consolidated income/(loss) from vessel operations		-3,673		432
Equity in income of affiliated companies		9,637		10,573
Other income		145		483
Interest expense		-174,511		-31
Income/(loss) before reorganization items and income taxes	$	-168,402	$	11,457
	Six Months Ended
	June 30,
	2014		2013
Total income from vessel operations of all segments	$	87,732	$	49,566
General and administrative expenses		-43,910		-46,055
Technical management transition costs		-1,832		-
Severance costs		-14,647		-3,064
Gain on disposal of vessels		1,481		1,206
Consolidated income from vessel operations		28,824		1,653
Equity in income of affiliated companies		18,131		20,863
Other income		279		284
Interest expense		-174,634		-319
Income/(loss) before reorganization items and income taxes	$	-127,400	$	22,481
Reconciliations of total assets of the segments to amounts included in the condensed consolidated balance sheets follow:
As of June 30,	2014		2013
Total assets of all segments	$	2,959,843	$	3,406,812
Corporate cash and securities		644,905		586,784
Other unallocated amounts		50,686		45,908
Consolidated total assets	$	3,655,434	$	4,039,504

Vessels

Vessels	6 Months Ended
	Jun. 30, 2014
Property, Plant and Equipment [Abstract]	'
Property, Plant and Equipment Disclosure [Text Block]	'
	Note 7 — Vessels:
	Purchase and Construction Commitments
	As of June 30, 2014, the Company had remaining commitments of $16,985 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 was delivered on July 24, 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 June 30, 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 June 30, 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 $1,500 for the six months ended June 30, 2014. In the second quarter of 2013, the Company delivered a spare U.S. Flag tugboat that had been idle since the fourth quarter of 2011, to buyers and recognized a gain of approximately $329 for the  three and six months ended June 30, 2013.
	Vessel Acquisitions and Deliveries
	There were no vessel acquisitions or new build deliveries during either the six months ended June 30, 2014 or June 30, 2013.

Equity_Method_Investments

Equity Method Investments	6 Months Ended
	Jun. 30, 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 June 30, 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 Vessels (“FSO”) 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 $171,112 and $196,500 was outstanding under the bank facility as of June 30, 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 be paid 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 June 30, 2014 and December 31, 2013, the carrying value of the Company’s guarantee in the accompanying 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 June 30, 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 $285 and gains of $707 for the three months ended June 30, 2014 and 2013, respectively and losses of $391 and gains of $740 for the six months ended June 30, 2014 and 2013, respectively. As of June 30, 2014 and December 31, 2013, the joint venture had a liability of $18,266 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 $4,090 and $5,064, at June 30, 2014 and December 31, 2013, respectively, is included in accumulated other comprehensive loss in the accompanying condensed consolidated 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 August 31, 2014, with MOQ having the right to terminate such waiver at an earlier date upon occurrence of certain events or after giving a 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 August 31, 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 $733,057 and $750,576 was outstanding under this secured facility as of June 30, 2014 and December 31, 2013, respectively.
	The joint venture 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 $710,445 and $727,663 at June 30, 2014 and December 31, 2013, respectively. These swaps are being accounted for as cash flow hedges. As of June 30, 2014 and December 31, 2013, the joint venture recorded a liability of $118,130 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, $58,890 and $54,199 at June 30, 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) April 30, 2015, 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
		June 30,
		2014		2013
	Shipping revenues	$	94,955	$	94,892
	Ship operating expenses		-62,642		-61,776
	Income from vessel operations		32,313		33,116
	Other expense		-367		-375
	Interest expense		-12,952		-12,335
	Net income	$	18,994	$	20,406
		Six Months Ended
		June 30,
		2014		2013
	Shipping revenues	$	186,212	$	188,953
	Ship operating expenses		-124,634		-122,570
	Income from vessel operations		61,578		66,383
	Other expense		-872		-739
	Interest expense		-25,994		-26,041
	Net income	$	34,712	$	39,603

Variable_Interest_Entities_VIE

Variable Interest Entities ("VIEs")	6 Months Ended
	Jun. 30, 2014
Disclosure of Variable Interest Entities [Abstract]	'
Disclosure of Variable Interest Entities [Text Block]	'
	Note 9 – Variable Interest Entities (“VIEs”):
	As of June 30, 2014, the Company participates in five 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.
	The following table presents the carrying amounts of assets and liabilities in the condensed consolidated balance sheet related to the VIEs as of June 30, 2014:
		Condensed
		Consolidated Balance Sheet
	Investments in Affiliated Companies	$	292,686
	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 June 30, 2014:
		Condensed
		Consolidated Balance Sheet		Maximum Exposure to Loss
	Other liabilities	$	0	$	387,400
	In addition, as of June 30, 2014, the Company had approximately $29,430 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 June 30, 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, Derivatives and Fair Value Disclosures	6 Months Ended
	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	Note 10 —Fair Value of Financial Instruments, Derivatives 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 June 30, 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:
				Level 1:
				Quoted prices in
				active markets for		Level 2:
				identical assets		Significant other
		Fair Value		or liabilities		observable inputs
	June 30, 2014:
	Cash and cash equivalents	$	644,905	$	644,905	$	-
	Unsecured Senior Notes	$	-602,308	$	-	$	-602,308
	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 in the condensed consolidated balance sheets as of June 30, 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 June 30, 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 that fair value estimates are considered to be Level 2 of the fair value hierarchy.

Taxes

Taxes	6 Months Ended
	Jun. 30, 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 June 30, 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 Company’s Unsecured Revolving Credit Facility and certain predecessor credit facilities (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 and six months ended June 30, 2014 and the year ended December 31, 2013
	Unrecognized tax benefits presented on the condensed consolidated balance sheet include interest and penalties 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 the IRS.
	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 June 30, 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 June 30, 2014, the claim submitted by the IRS had not been allowed by the Bankruptcy Court, and, therefore, the Company did 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 Equity Plan and the July 18, 2014 confirmation order. This IRS claim, together with post-petition interest has been reflected in income taxes payable on the condensed consolidated balance sheets as of June 30, 2014 and December 31, 2013.
	The components of the income tax benefits/(provisions) follow:
		Three Months Ended
		June 30,
		2014		2013
	Current	$	-2,950	$	374
	Deferred		53,364		1,525
		$	50,414	$	1,899
		Six Months Ended
		June 30,
		2014		2013
	Current	$	4,182	$	-3,495
	Deferred		44,903		11,229
		$	49,085	$	7,734
	At December 31, 2013, the Company had a reserve of $261,208 for benefits attributable to uncertain tax positions taken during current and prior tax periods. For the three and six months ended June 30, 2014, the Company increased such reserve by $13,942 and $14,042, respectively, to reflect post-petition interest on the IRS claim and 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 June 30, 2014 and December 31, 2013, the Company had a liability for unrecognized tax benefits of $275,250 and $261,208, which included interest and penalties of $28,965 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	6 Months Ended
	Jun. 30, 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:
	There were no stock options, restricted common stock, restricted stock units or performance related grants during the six months ended June 30, 2014 and 2013.
	On May 21, 2014, the Company filed notice with the Bankruptcy Court that it was rejecting the Company’s 2004 Stock Incentive Plan effective June 1, 2014. As a result of the rejection of the 2004 Stock Incentive Plan, all unvested awards and any OSG equity interests thereunder were cancelled and holders of unvested awards are not entitled to participate in the Rights Offering (See Note 2, “Chapter 11 Filing and Going Concern”) or to vote on or received distributions under the Amended Equity Plan (See Note 2). As a result of the cancellation of the unvested awards, the unrecognized stock compensation expense relating to unvested stock options, restricted common stock and restricted stock units was accelerated, and a charge of $1,796 was recorded to reorganization items in the condensed consolidated statements of operations for the three and six months ended June 30, 2014. Additionally, during the three and six months ended June 30, 2014 a $279 benefit was recorded in general and administrative expenses relating to a revision of the estimated forfeiture rates to actual forfeiture rates.

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 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 condensed consolidated balance sheets follow:
		June 30,		December 31,
	As of	2014		2013
	Unrealized losses on derivative instruments	$	-62,980	$	-59,263
	Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans)		-10,425		-10,081
		$	-73,405	$	-69,344
	The changes in the balances of each component of accumulated other comprehensive less, net of related taxes, during the three and six months ended June 30, 2014 and 2013 follow:
	Changes in Accumulated Other Comprehensive Loss Components for the Three Months Ended June 30, 2014 and 2013
		Unrealized		Unrealized		Items not yet		Total
		(gains)/losses		losses on cash		recognized as a
		on available-		flow hedges		component of
		for-sale				net periodic
		securities				benefit cost
						(pension and
						other
						postretirement
						plans)
	Balance as of March 31, 2014	$	-	$	-61,041	$	-10,185	$	-71,226
	Current period change excluding amounts reclassified from accumulated other comprehensive loss		-		-6,739		-240		-6,979
	Amounts reclassified from accumulated other comprehensive loss		-		4,800		-		4,800
	Total change in accumulated other comprehensive loss		-		-1,939		-240		-2,179
	Balance as of June 30, 2014	$	-	$	-62,980	$	-10,425	$	-73,405
	Balance as of March 31, 2013	$	-	$	-91,120	$	-14,461	$	-105,581
	Current period change excluding amounts reclassified from accumulated other comprehensive loss		-		15,425		-18		15,407
	Amounts reclassified from accumulated other comprehensive loss		-		5,031		-		5,031
	Total change in accumulated other comprehensive loss		-		20,456		-18		20,438
	Balance as of June 30, 2013	$	-	$	-70,664	$	-14,479	$	-85,143
	Changes in Accumulated Other Comprehensive Loss Components for the Six Months Ended June 30, 2014 and 2013
		Unrealized		Unrealized		Items not yet		Total
		(gains)/losses		losses on cash		recognized as a
		on available-		flow hedges		component of net
		for-sale				periodic benefit
		securities				cost (pension and
						other
						postretirement
						plans)
	Balance as of December 31, 2013	$	-	$	-59,263	$	-10,081	$	-69,344
	Current period change excluding amounts reclassified from accumulated other comprehensive loss		-		-13,582		-344		-13,926
	Amounts reclassified from accumulated other comprehensive loss		-		9,865		-		9,865
	Total change in accumulated other comprehensive loss		-		-3,717		-344		-4,061
	Balance as of June 30, 2014	$	-	$	-62,980	$	-10,425	$	-73,405
	Balance as of December 31, 2012	$	49	$	-98,937	$	-14,893	$	-113,781
	Current period change excluding amounts reclassified from accumulated other comprehensive loss		-181		17,964		414		18,197
	Amounts reclassified from accumulated other comprehensive loss		132		10,309		-		10,441
	Total change in accumulated other comprehensive loss		-49		28,273		414		28,638
	Balance as of June 30, 2013	$	-	$	-70,664	$	-14,479	$	-85,143
	Amounts reclassified out of each component of accumulated other comprehensive loss follow:
	Amounts Reclassified out of Accumulated Other Comprehensive Loss
		Three Months Ended
		June 30,				Statement of
	Accumulated Other Comprehensive Loss Component	2014		2013		Operations Line Item
	Unrealized losses on cash flow hedges:
	Interest rate swaps entered into by the Company's equity method joint venture investees		-4,800		-5,031	Equity in income of affiliated companies
		$	-4,800	$	-5,031	Total before and net of tax
	Amounts Reclassified out of Accumulated Other Comprehensive Loss
		Six Months Ended
		June 30,				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 by the Company's foreign subsidiaries	$	-	$	-132	Other income/ (expense)
	Unrealized losses on cash flow hedges:
	Interest rate swaps entered into by the Company's equity method joint venture investees		-9,865		-10,309	Equity in income of affiliated companies
	$	-9,865	$	-10,441	Total before and net of tax

Leases

Leases	6 Months Ended
	Jun. 30, 2014
Leases [Abstract]	'
Leases of Lessee and Lessor Disclosure [Text Block]	'
	Note 14 — Leases:
	1. Charters-in:
	Between December 31, 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 Suzemax and one Handysize Product Carrier were redelivered to owners in December 2012 and an additional fifteen vessels (11 Handysize Product Carriers, two Panamax Product Carriers, one Suezmax and one Aframax), were redelivered during the four months ended April 30, 2013.
	For the three and six month periods ended June 30, 2013, the Company recorded an estimate for lease termination costs related to the rejected leases that were redelivered or amended through April 30, 2013 of $17,670 and $176,859, respectively. For the three and six months ended June 30, 2014 the Company recorded charges relating to the rejected leases that were redelivered or amended through April 30, 2013 including a) interest expense of $7,025 for contractual post-petition interest and b) reorganization items of $6,052 for post-petition interest at the post-petition interest rate allowed by the Bankruptcy Court. See Note 3, “Liabilities Subject to Compromise and Reorganization Items,” for reserves for estimated lease termination costs as of June 30, 2014 and December 31, 2013.
	As of June 30, 2014, the Company had commitments to charter in 20 vessels. All of the charters-in are accounted for as operating leases, of which 13 are bareboat charters and seven 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
	June 30, 2014	Amount		Operating Days
	2014	$	48,296		2,392
	2015		97,816		4,745
	2016		99,038		4,758
	2017		98,219		4,713
	2018		93,200		3,929
	Thereafter		151,098		5,038
	Net minimum lease payments	$	587,667		25,575
	Time Charters-in at
	June 30, 2014	Amount		Operating Days
	2014	$	17,221		1,471
	2015		24,167		2,136
	2016		963		70
	Net minimum lease payments	$	42,351		3,677
	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 June 30, 2014	Amount		Revenue Days
	2014	$	170,204		4,770
	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	$	727,079		14,637
	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, $14,363 (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 table above. 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.
	3. Office Space
	In April 2013, the Bankruptcy Court approved the Company’s rejection of the lease agreement for its corporate headquarters office space. The Company vacated the office space on June 30, 2013 and recorded a provision of $3,646 as of that date, for the estimated damages it expects the Bankruptcy Court will allow the building owner to claim. The Company also recorded a $1,638 non-cash write-off of the unamortized cost of leasehold improvements and other property at such time.

Pension_and_Other_Postretireme

Pension and Other Postretirement Benefit Plans	6 Months Ended
	Jun. 30, 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 six months ended June 30, 2014 and 2013. The unfunded benefit obligation 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 June 30, 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 $1,063 was funded through July 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 June 30, 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 ($8,372 and $8,073 at June 30, 2014 and December 31, 2013, respectively).

Agreements_with_Executive_Offi

Agreements with Executive Officers and Severance Costs	6 Months Ended
	Jun. 30, 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 three and six months ended June 30, 2013, the Company released excess reserves (net of additional provision) aggregating $0 and $422, respectively, 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, which is reflected in general and administrative on the statement of operations for the six months ended June 30, 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, of which $3,486 was recorded during the three and six months ended June 30, 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 intended 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 and six months ended June 30, 2014 is summarized as follow:
		Outsourcing		April 2013
	Activity for the three and six months ended June 30, 2014	RIF		RIF
	Balance as of January 1, 2014	$	-	$	1,368
	Provision		6,334		-
	Utilized		-289		-1,059
	Balance as of March 31, 2014		6,045		309
	Provision		7,802		-
	Utilized		-2,377		-219
	Balance as of June 30, 2014	$	11,470	$	90
	The tables above exclude related professional fees which are expensed as incurred.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 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. On July 18, 2014, the Bankruptcy Court entered an order confirming the First Amended Joint Plan of Reorganization of Overseas Shipholding Group, Inc. et al., under Chapter 11 of the Bankruptcy Code (the “Plan”). The transactions contemplated by the Plan, including issuance and reinstatement of certain securities, are subject to the occurrence of the Plan’s effective date, which the Company anticipates will occur on or about August 5, 2014. See Note 2, “Chapter 11 Filing and Going Concern,” to the accompanying condensed consolidated financial statements for additional information. After the Effective Date, the Debtors may move the Bankruptcy Court to close certain of the Chapter 11 Cases. Upon the closing of a Debtor’s case, the automatic stay with regard to such Debtor will be lifted.
	Class Action Lawsuits and Derivative Actions
	The Company has fully and finally resolved all potential direct claims by members of the putative class of securities claimants through a settlement effectuated through the Plan. Under the terms of that settlement, the Plan provides for full satisfaction of the claims of the putative class through (i) $7 million in cash, payable on the initial distribution date, (ii) 15% of the net litigation recovery in the action against Proskauer, described below, (iii) $5 million in cash, payable following the entry of a final order resolving the Proskauer action, (iv) $3 million in cash, payable by the reorganized Company one year after the Plan’s effective date, (v) proceeds of any residual interest the Company has in certain director and officer insurance policies, and (vi) any remaining cash in the class E1 disputed claims reserve established by the Plan following resolution of all other class E1 claims. The Bankruptcy Court approved the settlement embodied in the Plan on July 18, 2014. The settlement proceeds will be held in escrow pending allocations and distributions to members of the putative class to be determined by the district court overseeing the Exchange Act claims.
	The settled claims stem from the Company’s filing of a 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. Shortly thereafter, several putative class action suits were filed in the United States District Court for the Southern District of New York (the “Southern District”) 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 the 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 purportedly 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 Southern District 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 Southern District 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 their 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 Southern District 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 Southern District denied the motion to dismiss the Exchange Act claims filed by the former President and former Chief Financial Officer. On July 2, 2014, the Southern District issued a scheduling order for discovery, and discovery has now commenced. Under the terms of the scheduling order, all discovery will be completed by July 22, 2015.
	Although management is unable to estimate the amount, if any, of its exposure with respect to the class action lawsuits filed against the defendants named above, such exposure is limited to $2,000 by the Amended Equity Plan.
	The plaintiffs in the Southern District action filed a proof of claim against the Company in the Bankruptcy Court. Pursuant to a settlement with such plaintiffs and the putative class on whose behalf their claim is filed, their direct claims against the Company are fully and finally resolved based on the Plan treatment described above. Separately, certain of the defendants in the Southern District have filed claims in the Bankruptcy Court against the Company for indemnification or reimbursement based on potential losses incurred in connection with such action. The claims of the defendants in the Southern District against the Company are subordinated pursuant to Section 510(b) of the Bankruptcy Code and are classified in Class E1. Under the Plan, subordinated claims against the Company are limited to recoveries from a segregated reserve of $2 million to be funded by the Company pursuant to the Plan. The Plan and related confirmation order do not permit any recoveries by the defendants beyond this $2 million cap. Any amounts remaining following full and complete satisfaction of all Class E1 claims, including claims of defendants in the Southern District, will be distributed to members of the putative class pursuant to the terms of the settlement described above. The Plan and confirmation order foreclose the defendants in the Southern District from pursuing any other or further remedies against the Company.
	As such, management estimates the amount of its exposure with respect to the actions pending before the Southern District described above at between zero and $2 million dollars.
	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 General Counsel of the Company (and then Senior Vice President and Secretary) 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 June 9, 2014, the plaintiffs filed an amended complaint that included certain additional factual allegations and an additional claim against the former Chief Financial Officer of the Company. On July 18, 2014 the defendants filed motions to dismiss the plaintiffs’ amended complaint. The motion to dismiss remains pending.
	On February 21, 2014, the Bankruptcy Court declined to hear the Company’s malpractice claims against Proskauer and four of its partners that were filed on November 18, 2013 under the doctrine of permissive abstention, and on March 11, 2014, the Company re-filed its malpractice claims against such defendants 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. On May 15, 2014, the Supreme Court issued a scheduling order for discovery in both the Company’s malpractice action against Proskauer and Proskauer’s suit against the General Counsel of the Company and the Company’s former Chief Financial Officer. Discovery has now commenced. Under the terms of the scheduling order, all discovery will be completed by September 30, 2015. The Company does not believe it will incur any loss from Proskauer’s suit against the General Counsel of the Company and the Company’s former Chief Financial Officer.
	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 Equity 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 Equity 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 Equity Plan’s confirmation. On May 7, 2014, the Bankruptcy Court approved a stipulation between Debtors and the SEC 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. On June 4, 2014 the U.S. Coast Guard accepted the Company’s self-reporting of this matter under the Coast Guard’s voluntary disclosure policy. Under such policy, the Coast Guard will not recommend to the U.S. Department of Justice or other prosecuting authority that criminal charges be brought against the Company arising from this matter. The Company is cooperating with the Department of Justice in its investigation 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 June 30, 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	6 Months Ended
	Jun. 30, 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 is presented as of June 30, 2014 and December 31, 2013 and for the three months and six months ended June 30, 2014 and June 30, 2013 as follows:
		Total Combined Debtor Entities
	Combined Balance Sheet information at	June 30,		December 31,
		2014		2013
	ASSETS
	Current Assets:
	Cash and cash equivalents	$	626,160	$	585,907
	Voyage receivables		110,481		147,107
	Income taxes recoverable		23,389		3,941
	Other receivables		16,985		16,040
	Inventories, prepaid expenses and other current assets		53,054		44,692
	Deferred income taxes		5,464		5,464
	Total Current Assets		835,533		803,151
	Vessels and other property less accumulated depreciation		2,294,652		2,351,628
	Deferred drydock expenditures, net		56,515		57,248
	Total Vessels, Deferred Drydock and Other Property		2,351,167		2,408,876
	Investments in affiliated companies		336,841		323,327
	Intangible assets, less accumulated amortization		57,611		59,943
	Investments in subsidiaries		147,921		147,921
	Pre and Post-petition intercompany loans receivable and accrued interest		43,663		31,588
	Pre-petition intercompany receivables		2,244,406		2,244,406
	Post-petition intercompany receivables		25,505		15,819
	Other assets		45,709		26,896
	Total Assets	$	6,088,356	$	6,061,927
	LIABILITIES AND EQUITY
	Current Liabilities:
	Accounts payable, accrued expenses and other current liabilities	$	120,060	$	96,007
	Income taxes payable, including reserve for uncertain tax positions of $248,486 and $234,623		270,654		255,987
	Total Current Liabilities		390,714		351,994
	Reserve for uncertain tax positions		26,764		26,585
	Deferred income taxes		325,049		369,942
	Other liabilities		32,427		30,977
	Post-petition intercompany payables		46,626		48,677
	Liabilities subject to compromise, including pre-petition intercompany payables		5,258,963		5,041,334
	Total Liabilities		6,080,543		5,869,509
	Equity:
	Total Equity		7,813		192,418
	Total Liabilities and Equity	$	6,088,356	$	6,061,927
		Total Combined  Debtor Entities
		Three Months Ended				Six Months Ended
		June 30,				June 30,
	Combined Statement of Operations	2014		2013		2014		2013
	Shipping Revenues:
	Pool revenues	$	28,459	$	48,248	$	73,528	$	104,516
	Time and bareboat charter revenues		96,609		91,616		191,737		175,417
	Voyage charter revenues		116,758		88,246		269,009		195,795
			241,826		228,110		534,274		475,728
	Operating Expenses:
	Voyage expenses		70,133		41,943		148,026		93,929
	Vessel expenses		66,754		64,849		133,637		131,363
	Charter hire expenses		39,983		49,964		85,465		115,422
	Depreciation and amortization		39,362		43,092		79,233		86,549
	General and administrative		14,105		19,206		32,999		33,559
	Technical management transition costs		1,199		-		1,339		-
	Severance costs		3,056		3,217		5,938		3,217
	(Gain)/loss on disposal of vessels		9		-1,228		-1,463		-1,201
	Total Operating Expenses		234,601		221,043		485,174		462,838
	Income from Vessel Operations		7,225		7,067		49,100		12,890
	Equity in income of affiliated companies		9,637		10,573		18,131		20,863
	Operating income		16,862		17,640		67,231		33,753
	Other expense		-4,989		-3,497		-9,647		-6,286
	Income before interest expense, reorganization items and income taxes		11,873		14,143		57,584		27,467
Interest expense		-174,511		-31		-174,634		-319
Income/(loss) before reorganization items and income taxes		-162,638		14,112		-117,050		27,148
Reorganization items, net		-85,886		-37,503		-115,142		-222,124
Loss before income taxes		-248,524		-23,391		-232,192		-194,976
Income tax benefit		50,485		1,956		49,156		7,790
Net Loss	$	-198,039	$	-21,435	$	-183,036	$	-187,186
	Total Combined Debtor Entities
Combined Statement of Cash Flows  for the six months ended June 30,	2014		2013
Cash Flows from Operating Activities:
Net loss	$	-183,036	$	-187,186
Items included in net loss not affecting cash flows:
Depreciation and amortization		79,233		86,549
Amortization of deferred gain on sale and leasebacks		-		42
Compensation relating to restricted stock and stock option grants		753		-1,291
Deferred income tax provision/(benefit)		-44,903		-11,281
Undistributed earnings of affiliated companies		-14,633		-17,292
Deferred payment obligations on charters-in		1,940		2,769
Contractual post-petition interest accrued on liabilities subject to compromise		174,476
Reorganization items, non-cash		64,233		196,092
Gain on sublease contracts		-		-691
Other – net		1,094		1,470
Items included in net loss related to investing and financing activities:
Loss on sale of securities and other investments – net		-		200
Gain on disposal of vessels – net		-1,463		-1,201
Payments for drydocking		-15,712		-9,017
Changes in operating assets and liabilities		12,264		22,283
Net cash provided by operating activities		74,246		81,446
Cash Flows from Investing Activities:
Proceeds from sale of marketable securities and investments		-		238
Expenditures for vessels		-15,721		485
Proceeds from the disposal of vessels		7,594		-14,077
Expenditures for other property		-64		-1,250
Net change in intercompany loans due from non-debtors		-12,099		20,481
Other – net		191		2,009
Net cash used in/(provided by) investing activities		-20,099		7,886
Cash Flows from Financing Activities:
Purchases of treasury stock		-162		-42
Payments on debt, including adequate protection payments		-5,307		-6,774
Deferred financing costs paid		-8,425		-
Net cash used in financing activities		-13,894		-6,816
Net increase in cash and cash equivalents		40,253		82,516
Cash and cash equivalents at beginning of year		585,907		471,725
Cash and cash equivalents at end of period	$	626,160	$	554,241

Basis_of_Presentation_and_Sign1

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 $34,526 and $20,500 of cash and cash equivalents in the consolidated balance sheets as of June 30, 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 and six month periods ended June 30, 2014 and June 30, 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 55% and 58% of consolidated voyage receivables at June 30, 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 second 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.
New Accounting Standards [Policy Text Block]	'
	Recently Issued Accounting Standards
	In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (ASC 205) and Property Plant and Equipment (ASC 360), which amends the criteria for reporting discontinued operations. The amendments require that when a component of an entity or group of components of an entity is a) classified as held for sale, b) is disposed of by sale or c) disposed of other than by sale (for example, by abandonment or in a distribution to owners in a spinoff) such disposal would be reported in discontinued operations if the disposal represents a strategic shift that has (or will have) a major effect on the entity’s operations and financial results. Therefore disposals of small groups of assets that are recurring in nature are less likely to qualify for discontinued operations presentation as a result of the amendments. The amendments are effective for public companies for annual periods and interim periods within those annual periods beginning after December 15, 2014 for all new disposals (or new classifications as held for sale) of components of an entity that occur within those years and all business that, on acquisition, are classified as held for sale that occur within those years. Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company does not expect the adoption of the amendments to the accounting standards to have a significant impact on its condensed consolidated financial statements.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606) to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. The revenue standard contains principles that an entity will apply to determine the measurement and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The revenue standard is effective for the first interim period within annual reporting periods beginning after December 15, 2016 for public companies and early adoption is not permitted. The requirements of this standard include a significant increase in required disclosures. Management is analyzing the impact of the adoption of this guidance on its condensed consolidated financial statements, including assessing changes that might be necessary to information technology systems, processes and internal controls to capture new data and address changes in financial reporting.

Liabilities_Subject_to_Comprom1

Liabilities Subject to Compromise and Reorganization Items (Tables)	6 Months Ended
	Jun. 30, 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:
			June 30,		December 31,
	As of		2014		2013
	Pre-petition accounts payable and other accrued liabilities		$	26,536	$	4,565
	Secured long-term debt and accrued interest			592,439		569,408
	Unsecured senior notes			509,603		500,780
	Unsecured revolving credit facility			1,489,000		1,489,000
	Accrued interest and fees on unsecured revolving credit facility and senior notes			161,034		10,878
	Derivative liabilities			3,566		3,566
	Accrued post-petition interest on other claims			1,620		-
	Accrued liabilities, including post-petition interest, relating to rejected executory contracts			295,867		282,599
	Pension and other postretirement benefit plan liabilities			26,391		27,377
			$	3,106,056	$	2,888,173
Estimated Claims on Rejected Executory Contracts [Table Text Block]	'
	The following tables summarize activity related to the reserve for rejected executory contracts component of liabilities subject to compromise for the three and six months ended June 30, 2014 and June 30, 2013.
			Three Months Ended
			June 30,
			2014		2013
	Balance at April 1,		$	282,599	$	189,753
	Original provision			-		21,316
	Change in estimate – post petition interest			13,077		-
	Other, principally reclassification of other liabilities related to rejected executory contracts			191		3,197
	Balance at June 30,		$	295,867	$	214,266
			Six Months Ended
			June 30,
			2014		2013
	Balance as of January 1,		$	282,599	$	30,539
	Original provision			-		180,505
	Change in estimate – post-petition interest			13,077		-
	Other, principally reclassification of other liabilities related to rejected executory contracts			191		3,222
	Balance at June 30,		$	295,867	$	214,266
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
			June 30,
			2014		2013
	Trustee fees		$	769	$	756
	Professional fees			34,228		13,745
	Provision for and expenses incurred on rejected executory contracts including post-petition interest (a)			6,212		23,002
	Provision for post-petition interest on debt facilities (a)			11,525		-
	Provision for post-petition interest on other claims			1,620		-
	2004 Stock Incentive Plan termination			1,796		-
	Provision for class action lawsuit and other subordinated claims			17,000		-
	Other claims adjustments			12,973		-
			$	86,123	$	37,503
			Six Months Ended
			June 30,
			2014		2013
	Trustee fees		$	1,528	$	1,552
	Professional fees			62,725		32,376
	Provision for and expenses incurred on rejected executory contracts including post-petition interest (a)			6,212		188,196
	Provision for post-petition interest on debt facilities (a)			11,525		-
	Provision for post-petition interest on other claims			1,620		-
	2004 Stock Incentive Plan termination			1,796		-
	Provision for class action lawsuit and other subordinated claims			17,000		-
	Other claims adjustments			12,973		-
			$	115,379	$	222,124
		(a)	Contractual post-petition interest for debt facilities and certain rejected executory contracts of $167,451 and $7,025, respectively, is reported as interest expense in the condensed consolidated statements of operations for the three and six months ended June 30, 2014. See Note 5, “Debt.”

Earnings_per_Common_Share_Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 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
		June 30,
		2014		2013
	Net loss	$	-204,111	$	-24,147
	Common shares outstanding, basic and diluted:
	Weighted average shares outstanding, basic and diluted		30,546,423		30,493,980
		Six Months Ended
		June 30,
		2014		2013
	Net loss	$	-193,694	$	-191,909
	Common shares outstanding, basic and diluted:
	Weighted average shares outstanding, basic and diluted		30,531,493		30,471,469

Business_and_Segment_Reporting1

Business and Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2014 and 2013 follows:
		International
		Crude		Product
	Three months ended	Tankers		Carriers		Other		U.S.		Totals
	June 30, 2014:
	Shipping revenues	$	91,015	$	38,159	$	79	$	112,524	$	241,777
	Time charter equivalent revenues		44,676		21,756		78		105,138		171,648
	Depreciation and amortization		16,292		6,511		471		16,255		39,529
	Gain/(loss) on disposal of vessels		-165		-		170		-1		4
	Income/(loss) from vessel operations		-1,253		-6,199		-124		32,986		25,410
	Equity in income of affiliated companies		7,211		-		2,038		388		9,637
	Investments in affiliated companies at June 30, 2014		287,816		6,325		41,897		803		336,841
	Total assets at June 30, 2014		1,337,824		544,992		41,897		1,035,130		2,959,843
	June 30, 2013:
	Shipping revenues	$	65,290	$	49,940	$	966	$	111,918	$	228,114
	Time charter equivalent revenues		47,828		33,701		942		103,695		186,166
	Depreciation and amortization		18,167		7,320		800		16,585		42,872
	Gain/(loss) on disposal of vessels		1		-1		109		1,119		1,228
	Income/(loss) from vessel operations		-9,515		7,655		-912		31,791		29,019
	Equity in income of affiliated companies		8,191		-		2,006		376		10,573
	Investments in affiliated companies at June 30, 2013		257,560		5,405		31,944		788		295,697
	Total assets at June 30, 2013		1,708,652		586,094		21,797		1,090,269		3,406,812
		International
		Crude		Product
	Six months ended	Tankers		Carriers		Other		U.S.		Totals
	June 30, 2014:
	Shipping revenues	$	228,784	$	85,167	$	39	$	220,233	$	534,223
	Time charter equivalent revenues		127,598		52,519		38		206,046		386,201
	Depreciation and amortization		32,499		12,975		966		33,167		79,607
	Gain/(loss) on disposal of vessels		1,349		-		169		-37		1,481
	Income/(loss) from vessel operations		29,873		-3,733		-640		62,232		87,732
	Equity in income of affiliated companies		15,054		-		2,311		766		18,131
	Expenditures for vessels		8,579		585		-		6,557		15,721
	Payments for drydocking		4,409		5,277		-		6,026		15,712
	June 30, 2013:
	Shipping revenues	$	132,938	$	122,609	$	2,043	$	217,962	$	475,552
	Time charter equivalent revenues		100,598		79,589		2,006		199,618		381,811
	Depreciation and amortization		36,465		14,311		1,654		33,713		86,143
	Gain/(loss) on disposal of vessels		1		-1		115		1,091		1,206
	Income/(loss) from vessel operations		-16,351		12,353		-1,771		55,335		49,566
	Equity in income of affiliated companies		15,878		-		4,127		858		20,863
	Expenditures for vessels		14,028		40		-3		12		14,077
	Payments for drydocking		2,605		277		-		6,135		9,017
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
		June 30,
		2014		2013
	Time charter equivalent revenues	$	171,648	$	186,166
	Add: Voyage expenses		70,129		41,948
	Shipping revenues	$	241,777	$	228,114
		Six Months Ended
		June 30,
		2014		2013
	Time charter equivalent revenues	$	386,201	$	381,811
	Add: Voyage expenses		148,022		93,741
	Shipping revenues	$	534,223	$	475,552
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	'
	Reconciliations of income/(loss) from vessel operations of the segments to income/(loss) before reorganization items and income taxes, as reported in the consolidated statements of operations follow:
		Three Months Ended
		June 30,
		2014		2013
	Total income from vessel operations of all segments	$	25,410	$	29,019
	General and administrative expenses		-19,485		-26,329
	Technical management transition costs		-1,638		-
	Severance costs		-7,964		-3,486
	Gain on disposal of vessels		4		1,228
	Consolidated income/(loss) from vessel operations		-3,673		432
	Equity in income of affiliated companies		9,637		10,573
	Other income		145		483
	Interest expense		-174,511		-31
	Income/(loss) before reorganization items and income taxes	$	-168,402	$	11,457
		Six Months Ended
		June 30,
		2014		2013
	Total income from vessel operations of all segments	$	87,732	$	49,566
	General and administrative expenses		-43,910		-46,055
	Technical management transition costs		-1,832		-
	Severance costs		-14,647		-3,064
	Gain on disposal of vessels		1,481		1,206
	Consolidated income from vessel operations		28,824		1,653
	Equity in income of affiliated companies		18,131		20,863
	Other income		279		284
	Interest expense		-174,634		-319
	Income/(loss) before reorganization items and income taxes	$	-127,400	$	22,481
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	'
	Reconciliations of total assets of the segments to amounts included in the condensed consolidated balance sheets follow:
	As of June 30,	2014		2013
	Total assets of all segments	$	2,959,843	$	3,406,812
	Corporate cash and securities		644,905		586,784
	Other unallocated amounts		50,686		45,908
	Consolidated total assets	$	3,655,434	$	4,039,504

Equity_Method_Investments_Tabl

Equity Method Investments (Tables)	6 Months Ended
	Jun. 30, 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
		June 30,
		2014		2013
	Shipping revenues	$	94,955	$	94,892
	Ship operating expenses		-62,642		-61,776
	Income from vessel operations		32,313		33,116
	Other expense		-367		-375
	Interest expense		-12,952		-12,335
	Net income	$	18,994	$	20,406
		Six Months Ended
		June 30,
		2014		2013
	Shipping revenues	$	186,212	$	188,953
	Ship operating expenses		-124,634		-122,570
	Income from vessel operations		61,578		66,383
	Other expense		-872		-739
	Interest expense		-25,994		-26,041
	Net income	$	34,712	$	39,603

Variable_Interest_Entities_VIE1

Variable Interest Entities ("VIEs") (Tables)	6 Months Ended
	Jun. 30, 2014
Disclosure of Variable Interest Entities [Abstract]	'
Schedule of Variable Interest Entities [Table Text Block]	'
	The following table presents the carrying amounts of assets and liabilities in the condensed consolidated balance sheet related to the VIEs as of June 30, 2014:
		Condensed
		Consolidated Balance Sheet
	Investments in Affiliated Companies	$	292,686
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 June 30, 2014:
		Condensed
		Consolidated Balance Sheet		Maximum Exposure to Loss
	Other liabilities	$	0	$	387,400

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 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:
				Level 1:
				Quoted prices in
				active markets for		Level 2:
				identical assets		Significant other
		Fair Value		or liabilities		observable inputs
	June 30, 2014:
	Cash and cash equivalents	$	644,905	$	644,905	$	-
	Unsecured Senior Notes	$	-602,308	$	-	$	-602,308
	December 31, 2013:
	Cash and cash equivalents	$	601,927	$	601,927	$	-
	Unsecured Senior Notes	$	-559,441	$	-	$	-559,441

Taxes_Tables

Taxes (Tables)	6 Months Ended
	Jun. 30, 2014
Income Tax Disclosure [Abstract]	'
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	'
	The components of the income tax benefits/(provisions) follow:
		Three Months Ended
		June 30,
		2014		2013
	Current	$	-2,950	$	374
	Deferred		53,364		1,525
		$	50,414	$	1,899
		Six Months Ended
		June 30,
		2014		2013
	Current	$	4,182	$	-3,495
	Deferred		44,903		11,229
		$	49,085	$	7,734

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 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 condensed consolidated balance sheets follow:
		June 30,		December 31,
	As of	2014		2013
	Unrealized losses on derivative instruments	$	-62,980	$	-59,263
	Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans)		-10,425		-10,081
		$	-73,405	$	-69,344
Schedule of Comprehensive Income (Loss) [Table Text Block]	'
	The changes in the balances of each component of accumulated other comprehensive less, net of related taxes, during the three and six months ended June 30, 2014 and 2013 follow:
	Changes in Accumulated Other Comprehensive Loss Components for the Three Months Ended June 30, 2014 and 2013
		Unrealized		Unrealized		Items not yet		Total
		(gains)/losses		losses on cash		recognized as a
		on available-		flow hedges		component of
		for-sale				net periodic
		securities				benefit cost
						(pension and
						other
						postretirement
						plans)
	Balance as of March 31, 2014	$	-	$	-61,041	$	-10,185	$	-71,226
	Current period change excluding amounts reclassified from accumulated other comprehensive loss		-		-6,739		-240		-6,979
	Amounts reclassified from accumulated other comprehensive loss		-		4,800		-		4,800
	Total change in accumulated other comprehensive loss		-		-1,939		-240		-2,179
	Balance as of June 30, 2014	$	-	$	-62,980	$	-10,425	$	-73,405
	Balance as of March 31, 2013	$	-	$	-91,120	$	-14,461	$	-105,581
	Current period change excluding amounts reclassified from accumulated other comprehensive loss		-		15,425		-18		15,407
	Amounts reclassified from accumulated other comprehensive loss		-		5,031		-		5,031
	Total change in accumulated other comprehensive loss		-		20,456		-18		20,438
	Balance as of June 30, 2013	$	-	$	-70,664	$	-14,479	$	-85,143
	Changes in Accumulated Other Comprehensive Loss Components for the Six Months Ended June 30, 2014 and 2013
		Unrealized		Unrealized		Items not yet		Total
		(gains)/losses		losses on cash		recognized as a
		on available-		flow hedges		component of net
		for-sale				periodic benefit
		securities				cost (pension and
						other
						postretirement
						plans)
	Balance as of December 31, 2013	$	-	$	-59,263	$	-10,081	$	-69,344
	Current period change excluding amounts reclassified from accumulated other comprehensive loss		-		-13,582		-344		-13,926
	Amounts reclassified from accumulated other comprehensive loss		-		9,865		-		9,865
	Total change in accumulated other comprehensive loss		-		-3,717		-344		-4,061
	Balance as of June 30, 2014	$	-	$	-62,980	$	-10,425	$	-73,405
	Balance as of December 31, 2012	$	49	$	-98,937	$	-14,893	$	-113,781
	Current period change excluding amounts reclassified from accumulated other comprehensive loss		-181		17,964		414		18,197
	Amounts reclassified from accumulated other comprehensive loss		132		10,309		-		10,441
	Total change in accumulated other comprehensive loss		-49		28,273		414		28,638
	Balance as of June 30, 2013	$	-	$	-70,664	$	-14,479	$	-85,143
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 Loss
		Three Months Ended
		June 30,				Statement of
	Accumulated Other Comprehensive Loss Component	2014		2013		Operations Line Item
	Unrealized losses on cash flow hedges:
	Interest rate swaps entered into by the Company's equity method joint venture investees		-4,800		-5,031	Equity in income of affiliated companies
		$	-4,800	$	-5,031	Total before and net of tax
	Amounts Reclassified out of Accumulated Other Comprehensive Loss
		Six Months Ended
		June 30,				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 by the Company's foreign subsidiaries	$	-	$	-132	Other income/ (expense)
	Unrealized losses on cash flow hedges:
	Interest rate swaps entered into by the Company's equity method joint venture investees		-9,865		-10,309	Equity in income of affiliated companies
		$	-9,865	$	-10,441	Total before and net of tax

Leases_Tables

Leases (Tables)	6 Months Ended
	Jun. 30, 2014
Leases [Abstract]	'
Operating Leases of Lessee Disclosure [Table Text Block]	'
	As of June 30, 2014, the Company had commitments to charter in 20 vessels. All of the charters-in are accounted for as operating leases, of which 13 are bareboat charters and seven 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
	June 30, 2014	Amount		Operating Days
	2014	$	48,296		2,392
	2015		97,816		4,745
	2016		99,038		4,758
	2017		98,219		4,713
	2018		93,200		3,929
	Thereafter		151,098		5,038
	Net minimum lease payments	$	587,667		25,575
	Time Charters-in at
	June 30, 2014	Amount		Operating Days
	2014	$	17,221		1,471
	2015		24,167		2,136
	2016		963		70
	Net minimum lease payments	$	42,351		3,677
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 June 30, 2014	Amount		Revenue Days
	2014	$	170,204		4,770
	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	$	727,079		14,637

Agreements_with_Executive_Offi1

Agreements with Executive Officers and Severance Costs (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2014 is summarized as follow:
		Outsourcing		April 2013
	Activity for the three and six months ended June 30, 2014	RIF		RIF
	Balance as of January 1, 2014	$	-	$	1,368
	Provision		6,334		-
	Utilized		-289		-1,059
	Balance as of March 31, 2014		6,045		309
	Provision		7,802		-
	Utilized		-2,377		-219
	Balance as of June 30, 2014	$	11,470	$	90

Condensed_Combined_Financial_S1

Condensed Combined Financial Statements of Debtor Subsidiaries (Tables)	6 Months Ended
	Jun. 30, 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 is presented as of June 30, 2014 and December 31, 2013 and for the three months and six months ended June 30, 2014 and June 30, 2013 as follows:
		Total Combined Debtor Entities
	Combined Balance Sheet information at	June 30,		December 31,
		2014		2013
	ASSETS
	Current Assets:
	Cash and cash equivalents	$	626,160	$	585,907
	Voyage receivables		110,481		147,107
	Income taxes recoverable		23,389		3,941
	Other receivables		16,985		16,040
	Inventories, prepaid expenses and other current assets		53,054		44,692
	Deferred income taxes		5,464		5,464
	Total Current Assets		835,533		803,151
	Vessels and other property less accumulated depreciation		2,294,652		2,351,628
	Deferred drydock expenditures, net		56,515		57,248
	Total Vessels, Deferred Drydock and Other Property		2,351,167		2,408,876
	Investments in affiliated companies		336,841		323,327
	Intangible assets, less accumulated amortization		57,611		59,943
	Investments in subsidiaries		147,921		147,921
	Pre and Post-petition intercompany loans receivable and accrued interest		43,663		31,588
	Pre-petition intercompany receivables		2,244,406		2,244,406
	Post-petition intercompany receivables		25,505		15,819
	Other assets		45,709		26,896
	Total Assets	$	6,088,356	$	6,061,927
	LIABILITIES AND EQUITY
	Current Liabilities:
	Accounts payable, accrued expenses and other current liabilities	$	120,060	$	96,007
	Income taxes payable, including reserve for uncertain tax positions of $248,486 and $234,623		270,654		255,987
	Total Current Liabilities		390,714		351,994
	Reserve for uncertain tax positions		26,764		26,585
	Deferred income taxes		325,049		369,942
	Other liabilities		32,427		30,977
	Post-petition intercompany payables		46,626		48,677
	Liabilities subject to compromise, including pre-petition intercompany payables		5,258,963		5,041,334
	Total Liabilities		6,080,543		5,869,509
	Equity:
	Total Equity		7,813		192,418
	Total Liabilities and Equity	$	6,088,356	$	6,061,927
Schedule of Combined Condensed Income Statement [Table Text Block]	'
		Total Combined  Debtor Entities
		Three Months Ended				Six Months Ended
		June 30,				June 30,
	Combined Statement of Operations	2014		2013		2014		2013
	Shipping Revenues:
	Pool revenues	$	28,459	$	48,248	$	73,528	$	104,516
	Time and bareboat charter revenues		96,609		91,616		191,737		175,417
	Voyage charter revenues		116,758		88,246		269,009		195,795
			241,826		228,110		534,274		475,728
	Operating Expenses:
	Voyage expenses		70,133		41,943		148,026		93,929
	Vessel expenses		66,754		64,849		133,637		131,363
	Charter hire expenses		39,983		49,964		85,465		115,422
	Depreciation and amortization		39,362		43,092		79,233		86,549
	General and administrative		14,105		19,206		32,999		33,559
	Technical management transition costs		1,199		-		1,339		-
	Severance costs		3,056		3,217		5,938		3,217
	(Gain)/loss on disposal of vessels		9		-1,228		-1,463		-1,201
	Total Operating Expenses		234,601		221,043		485,174		462,838
	Income from Vessel Operations		7,225		7,067		49,100		12,890
	Equity in income of affiliated companies		9,637		10,573		18,131		20,863
	Operating income		16,862		17,640		67,231		33,753
	Other expense		-4,989		-3,497		-9,647		-6,286
	Income before interest expense, reorganization items and income taxes		11,873		14,143		57,584		27,467
	Interest expense		-174,511		-31		-174,634		-319
	Income/(loss) before reorganization items and income taxes		-162,638		14,112		-117,050		27,148
	Reorganization items, net		-85,886		-37,503		-115,142		-222,124
	Loss before income taxes		-248,524		-23,391		-232,192		-194,976
	Income tax benefit		50,485		1,956		49,156		7,790
	Net Loss	$	-198,039	$	-21,435	$	-183,036	$	-187,186
Schedule of Combined Condensed Cash Flow Statement [Table Text Block]	'
		Total Combined Debtor Entities
	Combined Statement of Cash Flows  for the six months ended June 30,	2014		2013
	Cash Flows from Operating Activities:
	Net loss	$	-183,036	$	-187,186
	Items included in net loss not affecting cash flows:
	Depreciation and amortization		79,233		86,549
	Amortization of deferred gain on sale and leasebacks		-		42
	Compensation relating to restricted stock and stock option grants		753		-1,291
	Deferred income tax provision/(benefit)		-44,903		-11,281
	Undistributed earnings of affiliated companies		-14,633		-17,292
	Deferred payment obligations on charters-in		1,940		2,769
	Contractual post-petition interest accrued on liabilities subject to compromise		174,476
	Reorganization items, non-cash		64,233		196,092
	Gain on sublease contracts		-		-691
	Other – net		1,094		1,470
	Items included in net loss related to investing and financing activities:
	Loss on sale of securities and other investments – net		-		200
	Gain on disposal of vessels – net		-1,463		-1,201
	Payments for drydocking		-15,712		-9,017
	Changes in operating assets and liabilities		12,264		22,283
	Net cash provided by operating activities		74,246		81,446
	Cash Flows from Investing Activities:
	Proceeds from sale of marketable securities and investments		-		238
	Expenditures for vessels		-15,721		485
	Proceeds from the disposal of vessels		7,594		-14,077
	Expenditures for other property		-64		-1,250
	Net change in intercompany loans due from non-debtors		-12,099		20,481
	Other – net		191		2,009
	Net cash used in/(provided by) investing activities		-20,099		7,886
	Cash Flows from Financing Activities:
	Purchases of treasury stock		-162		-42
	Payments on debt, including adequate protection payments		-5,307		-6,774
	Deferred financing costs paid		-8,425		-
	Net cash used in financing activities		-13,894		-6,816
	Net increase in cash and cash equivalents		40,253		82,516
	Cash and cash equivalents at beginning of year		585,907		471,725
	Cash and cash equivalents at end of period	$	626,160	$	554,241

Basis_of_Presentation_and_Sign2

Basis of Presentation and Significant Accounting Policies (Details Textual) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
In Thousands, unless otherwise specified			Accounts Receivable [Member]	Accounts Receivable [Member]	Sales Revenue, Net [Member]	Sales Revenue, Net [Member]	Sales Revenue, Net [Member]	Sales Revenue, Net [Member]
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'	'	'	'
Restricted Cash and Cash Equivalents	$34,526	$20,500	'	'	'	'	'	'
Concentration Risk, Percentage	'	'	55.00%	58.00%	10.00%	10.00%	10.00%	10.00%

Chapter_11_Filing_and_Going_Co1

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

6 Months Ended

1 Months Ended

1 Months Ended

6 Months Ended

Jun. 30, 2014

Feb. 28, 2014

Jun. 30, 2014

Jul. 07, 2014

Jul. 22, 2014

Jul. 22, 2014

Mar. 07, 2014

Jul. 22, 2014

Jul. 15, 2014

Mar. 07, 2014

Mar. 07, 2014

Mar. 07, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Apr. 18, 2014

Plan Support Agreement [Member]

Amended Equity Plan [Member]

Scenario, Forecast [Member]

Scenario, Forecast [Member]

Scenario, Forecast [Member]

Notes 7.50 Percent Due 2024 [Member]

Notes 7.50 Percent Due 2024 [Member]

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]

Rights [Member]

Second Amended Equity Plan [Member]

Election 1 Noteholder [Member]

Scenario, Forecast [Member]

Scenario, Forecast [Member]

Election 2 Noteholders [Member]

Election 2 Noteholders [Member]

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

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unsecured Revolving Credit Facility Holding Percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

77.00%

'

'

Debt Instrument, Interest Rate, Stated Percentage

'

'

'

'

'

'

7.50%

'

'

8.13%

'

'

'

'

'

'

'

'

Proposed Exit Financing Rights Offering

'

$300,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt Instrument Maturity Year

'

'

'

'

'

'

'2024

'

'

'2018

'

'

'

'

'

'

'

'

Bankruptcy Claims, Amount of Claims Settled

15,000,000

'

27,500,000

'

'

'

'

'

'

'

61,400,000

935,000,000

'

'

'

'

'

'

Equity Method Investment, Ownership Percentage

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

30.00%

Stock Issued During Period, Value, New Issues

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,510,000,000

'

Equity Issuance, Per Share Amount

$3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Percentage Of Entitlement To Distribution Litigation Recovery

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Secured Long-term Debt, Noncurrent

'

'

'

'

'

'

'

'

'

'

'

'

$603,000,000

$628,400,000

$75,000,000

$50,000,000

'

'

Percentage of Cash payment on Principal Amount

'

'

'

1.00%

3.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

Debtor-in-Possession Financing, Interest Rate on Borrowings Outstanding

'

'

'

'

'

4.46%

'

'

'

'

'

'

'

'

'

'

'

'

Percentage of Holders of Notes Outstanding

'

'

'

'

'

'

'

95.01%

74.00%

'

'

'

'

'

'

'

'

'

Liabilities_Subject_to_Comprom2

Liabilities Subject to Compromise and Reorganization Items (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Pre-petition accounts payable and other accrued liabilities	$26,536	$4,565
Accrued post-petition interest on other claims	1,620	0
Accrued liabilities, including post-petition interest, relating to rejected executory contracts	295,867	282,599
Derivative liabilities	3,566	3,566
Pension and other postretirement benefit plan liabilities	26,391	27,377
Total Liabilities Subject to Compromise	3,106,056	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	592,439	569,408
Unsecured Debt [Member]	'	'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Long-term debt and accrued interest	161,034	10,878
Senior Notes [Member]	'	'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'
Long-term debt and accrued interest	$509,603	$500,780

Liabilities_Subject_to_Comprom3

Liabilities Subject to Compromise and Reorganization Items (Details 1) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'	'	'	'
Balance	$282,599	$189,753	$282,599	$30,539
Original provision	0	21,316	0	180,505
Change in estimate - post petition interest	13,077	0	13,077	0
Other, principally reclassification of other liabilities related to rejected executory contracts	191	3,197	191	3,222
Balance	$295,867	$214,266	$295,867	$214,266

Liabilities_Subject_to_Comprom4

Liabilities Subject to Compromise and Reorganization Items (Details 2) (USD $)	3 Months Ended				6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014		Jun. 30, 2013		Jun. 30, 2014		Jun. 30, 2013
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'		'		'		'
Trustee fees	$769		$756		$1,528		$1,552
Professional fees	34,228		13,745		62,725		32,376
2004 Stock Incentive Plan termination	1,796		0		1,796		0
Other claims adjustments	12,973		0		12,973		'
Reorganization Items, net	86,123		37,503		115,379		222,124
Rejected executory contracts [Member]	'		'		'		'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'		'		'		'
Debtor Reorganization Items, Provision for Expected Allowed Claims	6,212	[1]	23,002	[1]	6,212	[1]	188,196	[1]
Debt facilities [Member]	'		'		'		'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'		'		'		'
Debtor Reorganization Items, Provision for Expected Allowed Claims	11,525	[1]	0	[1]	11,525	[1]	0	[1]
Other claims [Member]	'		'		'		'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'		'		'		'
Debtor Reorganization Items, Provision for Expected Allowed Claims	1,620		0		1,620		0
Lawsuit and other subordinated claims [Member]	'		'		'		'
Liabilities Subject To Compromise And Reorganization Items [Line Items]	'		'		'		'
Debtor Reorganization Items, Provision for Expected Allowed Claims	$17,000		$0		$17,000		$0
[1]	Contractual post-petition interest for debt facilities and certain rejected executory contracts of $167,451 and $7,025, respectively, is reported as interest expense in the condensed consolidated statements of operations for the three and six months ended June 30, 2014. See Note 5, bDebt.b

Liabilities_Subject_to_Comprom5

Liabilities Subject to Compromise and Reorganization Items (Details Textual) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 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	$4,413	$3,616	$8,897	$7,764
Bankruptcy Claims, Amount of Claims Settled	15,000	'	15,000	'
Cash Paid for Reorganization Items	30,672	18,624	47,308	26,032
Interest Expense On Postpetition Debt	167,451	'	'	'
Interest Expense On Postpetition rejected executory contracts	'	'	$7,025	'

Earnings_per_Common_Share_Deta

Earnings per Common Share (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, except Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Earning Per Share [Line Items]	'	'	'	'
Net loss	($204,111)	($24,147)	($193,694)	($191,909)
Common shares outstanding, basic and diluted:	'	'	'	'
Weighted average shares outstanding, basic and diluted (in shares)	30,546,423	30,493,980	30,531,493	30,471,469

Earnings_per_Common_Share_Deta1

Earnings per Common Share (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	1,186,043	0	1,219,006

Debt_Details_Textual

Debt (Details Textual) (USD $)	3 Months Ended		6 Months Ended		12 Months Ended	19 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2014
Debt Instrument [Line Items]	'	'	'	'	'	'
Debt Instrument Collateral Number Of Vessels	15	'	15	'	'	15
Net Book Value Of Vessels Percent Pledged As Collateral For Debt Instruments	24.00%	'	24.00%	'	'	24.00%
Letters of Credit Outstanding, Amount	$9,146	'	$9,146	'	'	$9,146
Debtor-in-Possession Financing, Date Arrangement Approved by Bankruptcy Court	'	'	5-Feb-13	'	'	'
Reorganization Items, Total	86,123	37,503	115,379	222,124	'	'
Debtor Reorganization Items, Write-off of Deferred Financing Costs and Debt Discounts	8,823	'	8,823	'	'	'
Letter of Credit [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Reorganization Items, Total	23	'	23	'	'	'
Interest Expense for Postpetition Contractual Interest	753	'	753	'	'	'
CEXIM Term Loan [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
DIP Loan Receivable	3,217	'	3,217	'	3,217	3,217
Increase Decrease In Adequate Payment	'	'	4,276	4,798	'	'
DSF Term Loan [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
DIP Loan Receivable	760	'	760	'	760	760
Increase Decrease In Adequate Payment	529	572	1,560	1,976	'	'
Term loans maturing in 2023 [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Interest Expense	'	2,267	'	4,554	'	'
Amortization of Financing Costs	'	71	'	142	'	'
Minimum Required Loan To Value Ratio	'	'	'	'	91.00%	'
Debtor-in-Possession Financing, Amount Arranged	15,000	'	15,000	'	'	15,000
Long-term Line of Credit	311,751	'	311,751	'	302,585	311,751
Increase Decrease In Adequate Payment	'	'	10,452	'	'	'
Reorganization Items, Total	'	'	'	'	'	5,187
Debtor Reorganization Items, Post Petition Interest	'	'	3,628	'	'	'
Interest Expense for Postpetition Contractual Interest	14,080	'	14,080	'	'	'
Unsecured Revolving Credit Facility [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Interest Expense	'	3,570	'	7,362	'	'
Amortization of Financing Costs	'	0	'	236	'	'
Interest Expense for Postpetition Contractual Interest	73,637	'	73,637	'	'	'
Unsecured Senior Notes [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Interest Expense	'	10,590	'	21,180	'	'
Amortization of Financing Costs	'	367	'	734	'	'
Reorganization Items, Total	10,765	'	10,765	'	'	'
Interest Expense for Postpetition Contractual Interest	73,660	'	73,660	'	'	'
Term loans maturing in 2020 [Member]	'	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'	'
Interest Expense	'	872	'	1,749	'	'
Amortization of Financing Costs	'	66	'	132	'	'
Minimum Required Loan To Value Ratio	'	'	'	'	97.00%	'
Debtor-in-Possession Financing, Amount Arranged	10,000	'	10,000	'	'	10,000
Long-term Line of Credit	266,936	'	266,936	'	263,371	266,936
Increase Decrease In Adequate Payment	'	'	4,662	'	'	'
Reorganization Items, Total	'	'	'	'	'	4,397
Debtor Reorganization Items, Post Petition Interest	'	'	541	'	'	'
Interest Expense for Postpetition Contractual Interest	$5,203	'	$5,203	'	'	'

Business_and_Segment_Reporting2

Business and Segment Reporting (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'	'	'
Shipping revenues	$241,777	$228,114	$534,223	$475,552	'
Time charter equivalent revenues	171,648	186,166	386,201	381,811	'
Depreciation and amortization	39,529	42,872	79,607	86,143	'
Gain/(loss) on disposal of vessels	4	1,228	1,481	1,206	'
Income/(loss) from vessel operations	25,410	29,019	87,732	49,566	'
Equity in income of affiliated companies	9,637	10,573	18,131	20,863	'
Total assets	3,655,434	4,039,504	3,655,434	4,039,504	3,644,494
Expenditures for vessels	'	'	15,721	14,077	'
Payments for drydocking	'	'	15,712	9,017	'
Reportable Segment [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Shipping revenues	241,777	228,114	534,223	475,552	'
Time charter equivalent revenues	171,648	186,166	386,201	381,811	'
Depreciation and amortization	39,529	42,872	79,607	86,143	'
Gain/(loss) on disposal of vessels	4	1,228	1,481	1,206	'
Income/(loss) from vessel operations	25,410	29,019	87,732	49,566	'
Equity in income of affiliated companies	9,637	10,573	18,131	20,863	'
Investments in affiliated companies	336,841	295,697	336,841	295,697	'
Total assets	2,959,843	3,406,812	2,959,843	3,406,812	'
Expenditures for vessels	'	'	15,721	14,077	'
Payments for drydocking	'	'	15,712	9,017	'
Reportable Segment [Member] | International Crude Tankers Segment [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Shipping revenues	91,015	65,290	228,784	132,938	'
Time charter equivalent revenues	44,676	47,828	127,598	100,598	'
Depreciation and amortization	16,292	18,167	32,499	36,465	'
Gain/(loss) on disposal of vessels	-165	1	1,349	1	'
Income/(loss) from vessel operations	-1,253	-9,515	29,873	-16,351	'
Equity in income of affiliated companies	7,211	8,191	15,054	15,878	'
Investments in affiliated companies	287,816	257,560	287,816	257,560	'
Total assets	1,337,824	1,708,652	1,337,824	1,708,652	'
Expenditures for vessels	'	'	8,579	14,028	'
Payments for drydocking	'	'	4,409	2,605	'
Reportable Segment [Member] | International Product Carriers Segment [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Shipping revenues	38,159	49,940	85,167	122,609	'
Time charter equivalent revenues	21,756	33,701	52,519	79,589	'
Depreciation and amortization	6,511	7,320	12,975	14,311	'
Gain/(loss) on disposal of vessels	0	-1	0	-1	'
Income/(loss) from vessel operations	-6,199	7,655	-3,733	12,353	'
Equity in income of affiliated companies	0	0	0	0	'
Investments in affiliated companies	6,325	5,405	6,325	5,405	'
Total assets	544,992	586,094	544,992	586,094	'
Expenditures for vessels	'	'	585	40	'
Payments for drydocking	'	'	5,277	277	'
Reportable Segment [Member] | International Other Segment [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Shipping revenues	79	966	39	2,043	'
Time charter equivalent revenues	78	942	38	2,006	'
Depreciation and amortization	471	800	966	1,654	'
Gain/(loss) on disposal of vessels	170	109	169	115	'
Income/(loss) from vessel operations	-124	-912	-640	-1,771	'
Equity in income of affiliated companies	2,038	2,006	2,311	4,127	'
Investments in affiliated companies	41,897	31,944	41,897	31,944	'
Total assets	41,897	21,797	41,897	21,797	'
Expenditures for vessels	'	'	0	-3	'
Payments for drydocking	'	'	0	0	'
Reportable Segment [Member] | US Segment [Member]	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Shipping revenues	112,524	111,918	220,233	217,962	'
Time charter equivalent revenues	105,138	103,695	206,046	199,618	'
Depreciation and amortization	16,255	16,585	33,167	33,713	'
Gain/(loss) on disposal of vessels	-1	1,119	-37	1,091	'
Income/(loss) from vessel operations	32,986	31,791	62,232	55,335	'
Equity in income of affiliated companies	388	376	766	858	'
Investments in affiliated companies	803	788	803	788	'
Total assets	1,035,130	1,090,269	1,035,130	1,090,269	'
Expenditures for vessels	'	'	6,557	12	'
Payments for drydocking	'	'	$6,026	$6,135	'

Business_and_Segment_Reporting3

Business and Segment Reporting (Details 1) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Time charter equivalent revenues	$171,648	$186,166	$386,201	$381,811
Add: Voyage expenses	70,129	41,948	148,022	93,741
Shipping revenues	$241,777	$228,114	$534,223	$475,552

Business_and_Segment_Reporting4

Business and Segment Reporting (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Segment Reporting Information [Line Items]	'	'	'	'
Total income from vessel operations of all segments	$25,410	$29,019	$87,732	$49,566
General and administrative expenses	-19,485	-26,329	-43,910	-46,055
Technical management transition costs	-1,638	0	-1,832	0
Severance costs	-7,964	-3,486	-14,647	-3,064
Gain on disposal of vessels	4	1,228	1,481	1,206
Consolidated income/(loss) from vessel operations	-3,673	432	28,824	1,653
Equity in income of affiliated companies	9,637	10,573	18,131	20,863
Other income	145	483	279	284
Interest expense	-174,511	-31	-174,634	-319
Income/(loss) before reorganization items and income taxes	($168,402)	$11,457	($127,400)	$22,481

Business_and_Segment_Reporting5

Business and Segment Reporting (Details 3) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]	'	'	'
Total assets	$3,655,434	$3,644,494	$4,039,504
Operating Segments [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Total assets	2,959,843	'	3,406,812
Corporate Assets [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Total assets	644,905	'	586,784
Unallocated Amount To Segment [Member]	'	'	'
Segment Reporting Information [Line Items]	'	'	'
Total assets	$50,686	'	$45,908

Vessels_Details_Textual

Vessels (Details Textual) (USD $)

6 Months Ended

12 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Us Flag [Member]

Us Flag [Member]

Us Flag [Member]

CEXIM Term Loan [Member]

DSF Term Loan [Member]

Vessels [Member]

Vessels [Member]

Vessels [Member]

Vessels [Member]

Capital Addition Purchase Commitments [Member]

International Crude Tankers Segment [Member]

International Crude Tankers Segment [Member]

International Crude Tankers Segment [Member]

International Crude Tankers Segment [Member]

Securities Pledged as Collateral [Member]

Securities Pledged as Collateral [Member]

Securities Pledged as Collateral [Member]

Securities Pledged as Collateral [Member]

Very Large Crude Carrier Vessel [Member]

Aframaxes Vessel [Member]

MR [Member]

LR1 [Member]

Property, Plant and Equipment [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

Commitments for vessels to be wholly owned

'

'

'

'

'

'

'

'

'

'

'

'

$16,985

Gain (Loss) on disposition of property

1,481

1,206

'

329

1,500

329

'

'

'

'

'

'

'

Asset Impairment Charges

'

'

365,976

'

'

'

'

'

'

'

'

'

'

Number of Vessels

'

'

'

'

'

'

'

'

5

3

5

2

'

Impairment of Long-Lived Assets Held-for-use

'

'

'

'

'

'

$173,190

$38,301

'

'

'

'

'

Equity_Method_Investments_Deta

Equity Method Investments (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'	'
Shipping revenues	$94,955	$94,892	$186,212	$188,953
Ship operating expenses	-62,642	-61,776	-124,634	-122,570
Income from vessel operations	32,313	33,116	61,578	66,383
Other expense	-367	-375	-872	-739
Interest expense	-12,952	-12,335	-25,994	-26,041
Net income	$18,994	$20,406	$34,712	$39,603

Equity_Method_Investments_Deta1

Equity Method Investments (Details Textual) (USD $)

6 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

12 Months Ended

1 Months Ended

6 Months Ended

6 Months Ended

12 Months Ended

6 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Dec. 31, 2013

Aug. 29, 2013

Nov. 30, 2004

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Nov. 30, 2004

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Liquid Natural Gas Carrier Vessel [Member]

Ti Africa Vessel [Member]

Ti Africa Vessel [Member]

Ti Africa Vessel [Member]

Ti Africa Vessel [Member]

Ti Asia Vessel [Member]

Ti Asia Vessel [Member]

Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]

Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]

Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]

Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]

Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]

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

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

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

Euronav Nv Joint Venture [Member]

Euronav Nv Joint Venture [Member]

Euronav Nv Joint Venture [Member]

Euronav Nv Joint Venture [Member]

Alaska Tanker Company LLC [Member]

Liquid Natural Gas Carrier Vessel [Member]

Liquid Natural Gas Carrier Vessel [Member]

Liquid Natural Gas Carrier Vessel [Member]

Liquid Natural Gas Carrier Vessel [Member]

Liquid Natural Gas Carrier Vessel [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

'

'

'

'

'

'

'

'

'

'

'

$733,057

$750,576

'

'

'

'

'

$171,112

$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

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0

0

'

'

'

Notional Amount of Interest Rate Cash Flow Hedge Derivatives

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

710,445

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

'

'

'

'

285

707

391

740

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Interest Rate Cash Flow Hedge Liability at Fair Value

'

'

'

'

'

'

'

'

'

'

'

118,130

108,725

'

'

'

'

'

18,266

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

'

'

'

'

'

'

'

'

4,090

5,064

'

'

'

'

'

'

58,890

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 $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Variable Interest Entity, Not Primary Beneficiary [Member]	'
Variable Interest Entity [Line Items]	'
Investments in Affiliated Companies	$292,686

Variable_Interest_Entities_VIE3

Variable Interest Entities (''VIEs'') (Details 1) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Variable Interest Entity [Line Items]	'	'
Other Liabilities	$44,203	$42,189
Variable Interest Entity, Not Primary Beneficiary [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Other Liabilities	0	'
Maximum Exposure to Loss	$387,400	'

Variable_Interest_Entities_VIE4

Variable Interest Entities (''VIEs'') (Details Textual) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Variable Interest Entity [Line Items]	'	'
Number Of Commercial Pools	5	'
Number Of Joint Ventures	3	'
Accounts Receivable, Net, Current	$112,227	$147,964
Variable Interest Entity, Not Primary Beneficiary [Member]	'	'
Variable Interest Entity [Line Items]	'	'
Accounts Receivable, Net, Current	$29,430	'

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash and cash equivalents	$644,905	$601,927
Unsecured Senior Notes	-602,308	-559,441
Fair Value, Inputs, Level 1 [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Cash and cash equivalents	644,905	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	($602,308)	($559,441)

Taxes_Details

Taxes (Details) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Tax Contingency [Line Items]	'	'	'	'
Current	($2,950)	$374	$4,182	($3,495)
Deferred	53,364	1,525	44,903	11,229
Income tax benefit/(provision)	$50,414	$1,899	$49,085	$7,734

Taxes_Details_Textual

Taxes (Details Textual) (USD $)	3 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013
Income Tax Contingency [Line Items]	'	'	'
Equity Method Investment, Ownership Percentage	50.00%	50.00%	'
Liability for Uncertain Tax Positions, Current	'	'	$261,208
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions	13,942	14,042	'
Taxable Income From Foreign Earnings	'	107,000	'
Bankruptcy Claims, Amount of Claims Filed	'	255,760	'
liabilities for Unrecognized Tax Benefits	275,250	275,250	261,208
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	28,965	28,965	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%	50.00%	'

Capital_Stock_and_Stock_Compen1

Capital Stock and Stock Compensation (Details Textual) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Stockholders Equity Note [Line Items]	'	'	'	'
Reorganization Items, Total	$86,123	$37,503	$115,379	$222,124
General and Administrative Expense, Total	19,485	26,329	43,910	46,055
Stock Incentive Plan 2004 [Member]	'	'	'	'
Stockholders Equity Note [Line Items]	'	'	'	'
Reorganization Items, Total	1,796	'	1,796	'
General and Administrative Expense, Total	$279	'	$279	'

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Loss (Details) (USD $)	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'	'	'
Unrealized losses on derivative instruments	($62,980)	($61,041)	($59,263)	($70,664)	($91,120)	($98,937)
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans)	-10,425	-10,185	-10,081	-14,479	-14,461	-14,893
Accumulated other comprehensive loss	($73,405)	($71,226)	($69,344)	($85,143)	($105,581)	($113,781)

Accumulated_Other_Comprehensiv3

Accumulated Other Comprehensive Loss (Details 1) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Accumulated Other Comprehensive Income (Loss) [Line Items]	'	'	'	'
Unrealized gains/(losses) on available - for-sale securities , Beginning Balance	$0	$0	$0	$49
Unrealized gains/(losses) on available - for-sale securities, Current period change excluding amounts reclassified from other comprehensive loss	0	0	0	-181
Unrealized gains/(losses) on available - for-sale securities, Amounts reclassified from accumulated other comprehensive loss	0	0	0	132
Unrealized gains/(losses) on available - for-sale securities, Total change in accumulated other comprehensive loss	0	0	0	-49
Unrealized gains/(losses) on available - for-sale securities, Ending Balance	0	0	0	0
Unrealized losses on cash flow hedges, Beginning Balance	-61,041	-91,120	-59,263	-98,937
Unrealized losses on cash flow hedges, Current period change excluding amounts reclassified from other comprehensive loss	-6,739	15,425	-13,582	17,964
Unrealized losses on cash flow hedges, Amounts reclassified from accumulated other comprehensive loss	4,800	5,031	9,865	10,309
Unrealized losses on cash flow hedges, Total change in accumulated other comprehensive loss	-1,939	20,456	-3,717	28,273
Unrealized losses on cash flow hedges, Ending Balance	-62,980	-70,664	-62,980	-70,664
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Beginning Balance	-10,185	-14,461	-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 loss	-240	-18	-344	414
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Amounts reclassified from accumulated other comprehensive loss	0	0	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 loss	-240	-18	-344	414
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Ending Balance	-10,425	-14,479	-10,425	-14,479
Beginning Balance	-71,226	-105,581	-69,344	-113,781
Current period change excluding amounts reclassified from other comprehensive loss	-6,979	15,407	-13,926	18,197
Amounts reclassified from accumulated other comprehensive loss	4,800	5,031	9,865	10,441
Total change in accumulated other comprehensive loss	-2,179	20,438	-4,061	28,638
Ending Balance	($73,405)	($85,143)	($73,405)	($85,143)

Accumulated_Other_Comprehensiv4

Accumulated Other Comprehensive Loss (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Unrealized losses on cash flow hedges:	'	'	'	'
Other Comprehensive Income (Loss), before Tax	($4,800)	($5,031)	($9,865)	($10,441)
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	($4,800)	($5,031)	($9,865)	($10,309)

Leases_Details

Leases (Details) (USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Bareboat Charters In [Member]	'
Leases [Line Items]	'
2014	$48,296
2015	97,816
2016	99,038
2017	98,219
2018	93,200
Thereafter	151,098
Net minimum lease payments	587,667
Operating Days	'25575 days
Bareboat Charters In [Member] | One Year From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'2392 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	'5038 days
Time Charters In [Member]	'
Leases [Line Items]	'
2014	17,221
2015	24,167
2016	963
Net minimum lease payments	$42,351
Operating Days	'3677 days
Time Charters In [Member] | One Year From Balance Sheet [Member]	'
Leases [Line Items]	'
Operating Days	'1471 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	'70 days

Leases_Details_1

Leases (Details 1) (Charter Out [Member], USD $)	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
2014	$170,204
2015	232,426
2016	148,524
2017	91,201
2018	55,337
Thereafter	29,387
Future minimum revenues	$727,079
Revenue Days	'14637 days
One Year From Balance Sheet [Member]	'
Operating Leases, Future Minimum Payments Receivable [Abstract]	'
Revenue Days	'4770 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 $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Leases [Line Items]	'	'	'	'
Estimated For Lease Termination Costs	'	$17,670	'	$176,859
Reorganization Items, Total	86,123	37,503	115,379	222,124
Interest Expense On Postpetition rejected executory contracts	'	'	7,025	'
Charters In [Member]	'	'	'	'
Leases [Line Items]	'	'	'	'
Commitments to charter in vessels, Number of Units	20	'	20	'
Reorganization Items, Total	'	'	6,052	'
Bareboat Charters In [Member]	'	'	'	'
Leases [Line Items]	'	'	'	'
Commitments to charter in vessels, Number of Units	13	'	13	'
Time Charters In [Member]	'	'	'	'
Leases [Line Items]	'	'	'	'
Commitments to charter in vessels, Number of Units	7	'	7	'
Charter Out [Member]	'	'	'	'
Leases [Line Items]	'	'	'	'
Operating Leases, Future Minimum Payments Receivable, Current	170,204	'	170,204	'
Operating Leases, Future Minimum Payments Receivable, in Two Years	232,426	'	232,426	'
Operating Leases, Future Minimum Payments Receivable, in Three Years	148,524	'	148,524	'
Operating Leases, Future Minimum Payments Receivable, in Four Years	91,201	'	91,201	'
Operating Leases, Future Minimum Payments Receivable, in Five Years	55,337	'	55,337	'
Operating Leases, Future Minimum Payments Receivable, Thereafter	29,387	'	29,387	'
Charter Out [Member] | Contract of Affreightmen [Member]	'	'	'	'
Leases [Line Items]	'	'	'	'
Operating Leases, Future Minimum Payments Receivable, Current	14,363	'	14,363	'
Operating Leases, Future Minimum Payments Receivable, in Two Years	26,559	'	26,559	'
Operating Leases, Future Minimum Payments Receivable, in Three Years	22,023	'	22,023	'
Operating Leases, Future Minimum Payments Receivable, in Four Years	22,347	'	22,347	'
Operating Leases, Future Minimum Payments Receivable, in Five Years	22,698	'	22,698	'
Operating Leases, Future Minimum Payments Receivable, Thereafter	29,387	'	29,387	'
Office Space [Member]	'	'	'	'
Leases [Line Items]	'	'	'	'
Provision for Lease Losses	'	'	'	3,646
Leasehold Improvements, Gross	$1,638	'	$1,638	'

Pension_and_Other_Postretireme1

Pension and Other Postretirement Benefit Plans (Details Textual)	6 Months Ended			12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 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	'	8,372	4,896	8,073
Pension Contributions	$1,063	'	'	'

Agreements_with_Executive_Offi2

Agreements with Executive Officers and Severance Costs (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Mar. 31, 2014
Severance Reserve April 2013 RIF [Member]	'	'
Activity for the three and six months ended June 30, 2014	'	'
Beginning Balance	$309	$1,368
Provision	0	0
Utilized	-219	-1,059
Ending Balance	90	309
Severance Reserve Outsourcing RIF [Member]	'	'
Activity for the three and six months ended June 30, 2014	'	'
Beginning Balance	6,045	0
Provision	7,802	6,334
Utilized	-2,377	-289
Ending Balance	$11,470	$6,045

Agreements_with_Executive_Offi3

Agreements with Executive Officers and Severance Costs (Details Textual) (USD $)

3 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

6 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Jun. 30, 2013

Feb. 28, 2013

Mar. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 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

$7,964

$3,486

$14,647

$3,064

'

'

'

'

'

'

'

'

Allocated Share-based Compensation Expense, Total

'

'

'

'

3,209

'

'

'

'

'

'

'

Vessel Technical Management Relocation Description

'

'

'During the three and six months ended June 30, 2013, the Company released excess reserves (net of additional provision) aggregating $0 and $422, respectively, 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

'

0

'

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 $)	6 Months Ended
	Jun. 30, 2014
Loss Contingencies [Line Items]	'
Litigation Settlement, Amount	$7,000,000
Loss Contingency, Damages Sought, Value	2,000,000
Estimated Litigation Liability	5,000
Amended Equity Plan [Member]	'
Loss Contingencies [Line Items]	'
Limited To Exposure	2,000,000
Initial Distribution Date [Member]	'
Loss Contingencies [Line Items]	'
Litigation Recovery Percentage	15.00%
Final Order [Member]	'
Loss Contingencies [Line Items]	'
Litigation Settlement, Amount	5,000,000
Planbs effective date [Member] | Subsequent Event [Member]	'
Loss Contingencies [Line Items]	'
Litigation Settlement, Amount	$3,000,000

Condensed_Combined_Financial_S2

Condensed Combined Financial Statements of Debtor Subsidiaries (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current Assets:	'	'	'	'
Cash and cash equivalents	$644,905	$601,927	$586,784	$507,342
Voyage receivables	112,227	147,964	'	'
Income taxes recoverable	23,407	3,952	'	'
Inventories, prepaid expenses and other current assets	51,350	41,168	'	'
Deferred income taxes	5,464	5,464	'	'
Total Current Assets	856,550	817,313	'	'
Vessels and other property less accumulated depreciation	2,302,017	2,359,352	'	'
Deferred drydock expenditures, net	56,515	57,248	'	'
Total Vessels, Deferred Drydock and Other Property	2,358,532	2,416,600	'	'
Investments in affiliated companies	336,841	323,327	'	'
Intangible assets, less accumulated amortization	57,825	60,167	'	'
Other assets	45,686	27,087	'	'
Total Assets	3,655,434	3,644,494	4,039,504	'
Current Liabilities:	'	'	'	'
Accounts payable, accrued expenses and other current liabilities	138,293	121,582	'	'
Income taxes payable, including reserve for uncertain tax positions of $248,486 and $234,623	270,925	256,258	'	'
Total Current Liabilities	409,218	377,840	'	'
Reserve for uncertain tax positions	26,764	26,585	'	'
Deferred income taxes	325,044	369,954	'	'
Other liabilities	44,203	42,189	'	'
Liabilities subject to compromise, including pre-petition intercompany payables	3,106,056	2,888,173	'	'
Total Liabilities	3,911,285	3,704,741	'	'
Equity:	'	'	'	'
Total Equity	-255,851	-60,247	369,919	534,246
Total Liabilities and Equity	3,655,434	3,644,494	'	'
Combined Debtor Entities [Member]	'	'	'	'
Current Assets:	'	'	'	'
Cash and cash equivalents	626,160	585,907	554,241	471,725
Voyage receivables	110,481	147,107	'	'
Income taxes recoverable	23,389	3,941	'	'
Other receivables	16,985	16,040	'	'
Inventories, prepaid expenses and other current assets	53,054	44,692	'	'
Deferred income taxes	5,464	5,464	'	'
Total Current Assets	835,533	803,151	'	'
Vessels and other property less accumulated depreciation	2,294,652	2,351,628	'	'
Deferred drydock expenditures, net	56,515	57,248	'	'
Total Vessels, Deferred Drydock and Other Property	2,351,167	2,408,876	'	'
Investments in affiliated companies	336,841	323,327	'	'
Intangible assets, less accumulated amortization	57,611	59,943	'	'
Investments in subsidiaries	147,921	147,921	'	'
Pre and Post-petition intercompany loans receivable and accrued interest	43,663	31,588	'	'
Pre-petition intercompany receivables	2,244,406	2,244,406	'	'
Post-petition intercompany receivables	25,505	15,819	'	'
Other assets	45,709	26,896	'	'
Total Assets	6,088,356	6,061,927	'	'
Current Liabilities:	'	'	'	'
Accounts payable, accrued expenses and other current liabilities	120,060	96,007	'	'
Income taxes payable, including reserve for uncertain tax positions of $248,486 and $234,623	270,654	255,987	'	'
Total Current Liabilities	390,714	351,994	'	'
Reserve for uncertain tax positions	26,764	26,585	'	'
Deferred income taxes	325,049	369,942	'	'
Other liabilities	32,427	30,977	'	'
Post-petition intercompany payables	46,626	48,677	'	'
Liabilities subject to compromise, including pre-petition intercompany payables	5,258,963	5,041,334	'	'
Total Liabilities	6,080,543	5,869,509	'	'
Equity:	'	'	'	'
Total Equity	7,813	192,418	'	'
Total Liabilities and Equity	$6,088,356	$6,061,927	'	'

Condensed_Combined_Financial_S3

Condensed Combined Financial Statements of Debtor Subsidiaries (Details 1) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Shipping Revenues:	'	'	'	'
Pool revenues	$28,410	$48,252	$73,477	$104,507
Time and bareboat charter revenues	96,609	91,616	191,737	175,417
Voyage charter revenues	116,758	88,246	269,009	195,628
Shipping revenues	241,777	228,114	534,223	475,552
Operating Expenses:	'	'	'	'
Voyage expenses	70,129	41,948	148,022	93,741
Vessel expenses	66,726	64,311	133,397	130,678
Charter hire expenses	39,983	49,964	85,465	115,424
Depreciation and amortization	39,529	42,872	79,607	86,143
General and administrative	19,485	26,329	43,910	46,055
Technical management transition costs	1,638	0	1,832	0
Severance costs	7,964	3,486	14,647	3,064
(Gain)/loss on disposal of vessels	-4	-1,228	-1,481	-1,206
Total Operating Expenses	245,450	227,682	505,399	473,899
Income from Vessel Operations	-3,673	432	28,824	1,653
Equity in income of affiliated companies	9,637	10,573	18,131	20,863
Operating income	5,964	11,005	46,955	22,516
Other expense	145	483	279	284
Income before interest expense, reorganization items and income taxes	6,109	11,488	47,234	22,800
Interest expense	-174,511	-31	-174,634	-319
Income/(loss) before reorganization items and income taxes	-168,402	11,457	-127,400	22,481
Reorganization items, net	-86,123	-37,503	-115,379	-222,124
Loss before income taxes	-254,525	-26,046	-242,779	-199,643
Income tax benefit	50,414	1,899	49,085	7,734
Net Loss	-204,111	-24,147	-193,694	-191,909
Combined Debtor Entities [Member]	'	'	'	'
Shipping Revenues:	'	'	'	'
Pool revenues	28,459	48,248	73,528	104,516
Time and bareboat charter revenues	96,609	91,616	191,737	175,417
Voyage charter revenues	116,758	88,246	269,009	195,795
Shipping revenues	241,826	228,110	534,274	475,728
Operating Expenses:	'	'	'	'
Voyage expenses	70,133	41,943	148,026	93,929
Vessel expenses	66,754	64,849	133,637	131,363
Charter hire expenses	39,983	49,964	85,465	115,422
Depreciation and amortization	39,362	43,092	79,233	86,549
General and administrative	14,105	19,206	32,999	33,559
Technical management transition costs	1,199	0	1,339	0
Severance costs	3,056	3,217	5,938	3,217
(Gain)/loss on disposal of vessels	9	-1,228	-1,463	-1,201
Total Operating Expenses	234,601	221,043	485,174	462,838
Income from Vessel Operations	7,225	7,067	49,100	12,890
Equity in income of affiliated companies	9,637	10,573	18,131	20,863
Operating income	16,862	17,640	67,231	33,753
Other expense	-4,989	-3,497	-9,647	-6,286
Income before interest expense, reorganization items and income taxes	11,873	14,143	57,584	27,467
Interest expense	-174,511	-31	-174,634	-319
Income/(loss) before reorganization items and income taxes	-162,638	14,112	-117,050	27,148
Reorganization items, net	-85,886	-37,503	-115,142	-222,124
Loss before income taxes	-248,524	-23,391	-232,192	-194,976
Income tax benefit	50,485	1,956	49,156	7,790
Net Loss	($198,039)	($21,435)	($183,036)	($187,186)

Condensed_Combined_Financial_S4

Condensed Combined Financial Statements of Debtor Subsidiaries (Details 2) (USD $)	3 Months Ended		6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Cash Flows from Operating Activities:	'	'	'	'
Net loss	($204,111)	($24,147)	($193,694)	($191,909)
Items included in net loss not affecting cash flows:	'	'	'	'
Depreciation and amortization	39,529	42,872	79,607	86,143
Amortization of deferred gain on sale and leasebacks	'	'	0	42
Compensation relating to restricted stock and stock option grants	'	'	517	-1,014
Deferred income tax provision/(benefit)	-53,364	-1,525	-44,903	-11,229
Undistributed earnings of affiliated companies	'	'	-14,633	-17,292
Deferred payment obligations on charters-in	'	'	1,940	2,769
Contractual post-petition interest accrued on liabilities subject to compromise	'	'	-174,476	0
Reorganization items, non-cash	'	'	64,469	196,092
Gain on sublease contracts	'	'	0	-691
Other - net	'	'	1,377	1,193
Items included in net loss related to investing and financing activities:	'	'	'	'
Loss on sale of securities and other investments - net	'	'	0	200
Gain on disposal of vessels - net	'	'	-1,481	-1,206
Payments for drydocking	'	'	-15,712	-9,017
Changes in other operating assets and liabilities	'	'	13,067	44,963
Net cash provided by operating activities	'	'	65,030	99,044
Cash Flows from Investing Activities:	'	'	'	'
Proceeds from sale of marketable securities and investments	'	'	0	238
Expenditures for vessels	'	'	-15,721	-14,077
Proceeds from the disposal of vessels	'	'	7,594	485
Expenditures for other property	'	'	-216	-1,441
Other - net	'	'	185	2,009
Net cash used in/(provided by) investing activities	'	'	-8,158	-12,786
Cash Flows from Financing Activities:	'	'	'	'
Purchases of treasury stock	'	'	-162	-42
Payments on debt, including adequate protection payments	'	'	-5,307	-6,774
Deferred financing costs paid	'	'	8,425	0
Net cash used in financing activities	'	'	-13,894	-6,816
Net increase in cash and cash equivalents	'	'	42,978	79,442
Cash and cash equivalents at beginning of year	'	'	601,927	507,342
Cash and cash equivalents at end of period	644,905	586,784	644,905	586,784
Combined Debtor Entities [Member]	'	'	'	'
Cash Flows from Operating Activities:	'	'	'	'
Net loss	-198,039	-21,435	-183,036	-187,186
Items included in net loss not affecting cash flows:	'	'	'	'
Depreciation and amortization	39,362	43,092	79,233	86,549
Amortization of deferred gain on sale and leasebacks	'	'	0	42
Compensation relating to restricted stock and stock option grants	'	'	753	-1,291
Deferred income tax provision/(benefit)	'	'	-44,903	-11,281
Undistributed earnings of affiliated companies	'	'	-14,633	-17,292
Deferred payment obligations on charters-in	'	'	1,940	2,769
Contractual post-petition interest accrued on liabilities subject to compromise	'	'	174,476	'
Reorganization items, non-cash	'	'	64,233	196,092
Gain on sublease contracts	'	'	0	-691
Other - net	'	'	1,094	1,470
Items included in net loss related to investing and financing activities:	'	'	'	'
Loss on sale of securities and other investments - net	'	'	0	200
Gain on disposal of vessels - net	'	'	-1,463	-1,201
Payments for drydocking	'	'	-15,712	-9,017
Changes in other operating assets and liabilities	'	'	12,264	22,283
Net cash provided by operating activities	'	'	74,246	81,446
Cash Flows from Investing Activities:	'	'	'	'
Proceeds from sale of marketable securities and investments	'	'	0	238
Expenditures for vessels	'	'	-15,721	485
Proceeds from the disposal of vessels	'	'	7,594	-14,077
Expenditures for other property	'	'	-64	-1,250
Net change in intercompany loans due from non-debtors	'	'	-12,099	20,481
Other - net	'	'	191	2,009
Net cash used in/(provided by) investing activities	'	'	-20,099	7,886
Cash Flows from Financing Activities:	'	'	'	'
Purchases of treasury stock	'	'	-162	-42
Payments on debt, including adequate protection payments	'	'	-5,307	-6,774
Deferred financing costs paid	'	'	-8,425	0
Net cash used in financing activities	'	'	-13,894	-6,816
Net increase in cash and cash equivalents	'	'	40,253	82,516
Cash and cash equivalents at beginning of year	'	'	585,907	471,725
Cash and cash equivalents at end of period	$626,160	$554,241	$626,160	$554,241

Condensed_Combined_Financial_S5

Condensed Combined Financial Statements of Debtor Subsidiaries (Details Textual) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Condensed Financial Statements, Captions [Line Items]	'	'
Reserve for uncertain tax positions	$248,486	$234,623
Combined Debtor Entities [Member]	'	'
Condensed Financial Statements, Captions [Line Items]	'	'
Reserve for uncertain tax positions	$248,486	$234,623