Overseas Shipholding Group, Inc. - Ordinary Shares (OSG) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 08, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	OVERSEAS SHIPHOLDING GROUP INC
Entity Central Index Key	75,208
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		70,195,146
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 313,232	$ 502,836
Restricted cash	5,572	10,583
Voyage receivables, including unbilled of $55,190 and $73,366	62,763	81,612
Income tax recoverable	1,031	1,664
Other receivables	3,657	7,195
Inventories, prepaid expenses and other current assets	18,037	20,041
Total Current Assets	404,292	623,931
Restricted cash - non current		8,989
Vessels and other property, less accumulated depreciation of $560,316 and $736,874	1,846,615	2,084,859
Deferred drydock expenditures, net	68,506	95,241
Total Vessels, Deferred Drydock and Other Property	1,915,121	2,180,100
Investments in and advances to affiliated companies	363,282	348,718
Intangible assets, less accumulated amortization of $45,233 and $41,783	46,767	50,217
Other assets	20,492	18,455
Total Assets	2,749,954	3,230,410
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	87,243	91,233
Income taxes payable	1,955	13
Current installments of long-term debt	25,483	63,039
Total Current Liabilities	114,681	154,285
Reserve for uncertain tax positions	2,556	2,520
Long-term debt	956,260	1,223,224
Deferred income taxes	202,589	208,195
Other liabilities	58,999	61,698
Total Liabilities	1,335,085	1,649,922
Commitments and contingencies
Equity:
Common stock	702	3,720
Paid-in additional capital	1,533,683	1,651,511
Accumulated deficit	(46,261)	(1,282)
Stockholders Equity Subtotal	1,488,124	1,653,949
Accumulated other comprehensive loss	(73,255)	(73,461)
Total Equity	1,414,869	1,580,488
Total Liabilities and Equity	$ 2,749,954	$ 3,230,410

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
CONSOLIDATED BALANCE SHEETS [Abstract]
Unbilled contracts receivable (in dollars)	$ 55,190	$ 73,366
Vessels and other property, accumulated depreciation	560,316	736,874
Intangible Assets, accumulated amortization	$ 45,233	$ 41,783

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Shipping Revenues:
Pool revenues, including $6,166, $10,374, $30,282 and $36,510 from companies accounted for by the equity method	$ 42,854	$ 97,797	$ 200,088	$ 267,157
Time and bareboat charter revenues	114,518	111,120	360,964	328,816
Voyage charter revenues	37,579	32,835	99,101	124,808
Shipping revenues	194,951	241,752	660,153	720,781
Operating Expenses:
Voyage expenses	8,136	8,164	20,721	30,348
Vessel expenses	72,241	70,448	212,293	207,966
Charter hire expenses	32,695	31,993	95,231	95,018
Depreciation and amortization	43,208	38,743	128,883	113,731
General and administrative	19,076	21,376	53,792	58,129
Technical management transition costs				40
Severance costs	2,238		2,238	5
Loss/(gain) on disposal of vessels and other property, including impairments	147,422	(3,185)	147,377	(4,258)
Total Operating Expenses	325,016	167,539	660,535	500,979
(Loss)/income from vessel operations	(130,065)	74,213	(382)	219,802
Equity in income of affiliated companies	12,488	10,978	36,078	35,220
Operating (loss)/income	(117,577)	85,191	35,696	255,022
Other expense	(5,079)	(1,963)	(3,104)	(1,842)
Loss/(income) before interest expense, reorganization items and income taxes	(122,656)	83,228	32,592	253,180
Interest expense	(20,126)	(29,191)	(63,337)	(86,691)
Loss/(income) before reorganization items and income taxes	(142,782)	54,037	(30,745)	166,489
Reorganization items, net	(5,732)	(1,420)	11,318	(6,344)
Loss/(income) before income taxes	(148,514)	52,617	(19,427)	160,145
Income tax benefit	49,775	120,737	1,288	114,548
Net (loss)/income	$ (98,739)	$ 173,354	$ (18,139)	$ 274,693
Common Class A [Member]
Weighted Average Number of Common Shares Outstanding:
Weighted average common shares outstanding, basic	89,363,106	95,589,751	92,108,745	95,579,545
Weighted average common shares outstanding, diluted	89,363,106	95,599,243	92,108,745	95,598,816
Per Share Amounts:
Basic and Diluted net income (in dollars per share)	$ (1.10)	$ 1.79	$ (0.22)	$ 2.83
Cash dividends declared			$ 0.48
Common Class B [Member]
Weighted Average Number of Common Shares Outstanding:
Weighted average common shares outstanding, diluted		1,320,094		1,320,459
Basic and Diluted (in shares)		1,320,094	712,976	1,320,459
Per Share Amounts:
Basic and Diluted net income (in dollars per share)		$ 1.79	$ 3.32	$ 2.83
Cash dividends declared			$ 1.56

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract]
Pool revenues, received from companies accounted for by the equity method	$ 6,166	$ 10,374	$ 30,282	$ 36,510

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net (Loss)/Income	$ (98,739)	$ 173,354	$ (18,139)	$ 274,693
Other Comprehensive Income/(Loss), net of tax:
Net change in unrealized gains/(losses) on cash flow	6,329	(5,861)	(1,143)	(1,024)
Defined benefit pension and other postretirement benefit plans:
Net change in unrecognized prior service costs	(3)	(9)	(14)	(3)
Net change in unrecognized actuarial losses	353	479	1,363	195
Other Comprehensive Income/(Loss), net of tax	6,679	(5,391)	206	(832)
Comprehensive (Loss)/Income	$ (92,060)	$ 167,963	$ (17,933)	$ 273,861

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities:
Net (Loss)/Income	$ (18,139)	$ 274,693
Items included in net (loss)/income not affecting cash flows:
Depreciation and amortization	128,883	113,731
Loss on write-down of vessels and other fixed assets	147,422
Amortization of debt discount and other deferred financing costs	9,289	8,009
Compensation relating to restricted stock/stock unit and stock option grants	4,458	2,511
Deferred income tax benefit	(5,624)	(83,151)
Undistributed earnings of affiliated companies	(32,954)	(29,497)
Reorganization items, non-cash	5,392	225
Other - net	1,851	1,422
Items included in net (loss)/income related to investing and financing activities:
Gain on disposal of vessels and other property, net	(45)	(4,258)
Loss on repurchase of debt	3,873
Payments for drydocking	(10,239)	(38,269)
Bankruptcy claim payments	(7,136)	(7,916)
Deferred financing costs paid for loan modification	(8,273)	(6,187)
Changes in operating assets and liabilities	21,879	(19,778)
Net cash provided by operating activities	240,637	211,535
Cash Flows from Investing Activities:
Change in restricted cash	14,000	96,610
Expenditures for vessels and vessel improvements	(591)	(769)
Proceeds from disposal of vessels and other property		16,954
Expenditures for other property	(655)	(53)
Investments in and advances to affiliated companies	(987)	(153)
Repayments of advances from affiliated companies	18,500	25,000
Other - net		(8)
Net cash provided by investing activities	30,267	137,581
Cash Flows from Financing Activities:
Cash dividend paid	(31,910)
Payments on debt	(141,186)	(9,235)
Extinguishment of debt	(168,069)	(101,092)
Repurchases of common stock and common stock warrants	(119,343)
Net cash used in financing activities	(460,508)	(110,327)
Net (decrease)/increase in cash and cash equivalents	(189,604)	238,789
Cash and cash equivalents at beginning of year	502,836	389,226
Cash and cash equivalents at end of period	$ 313,232	$ 628,015

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands		Class A Warrant [Member]	Class B Warrant [Member]Common Stock [Member]	[1]	Class B Warrant [Member]Additional Paid-in Capital [Member]	[2]	Common Stock [Member]	[1]	Additional Paid-in Capital [Member]Common Class A [Member]	[2]	Additional Paid-in Capital [Member]		Retained Earnings / (Accumulated deficit) [Member]	Accumulated Other Comprehensive Loss [Member]	[3]	Common Class A [Member]	Total
Balance at Dec. 31, 2014							$ 3,158				$ 1,507,334	[2]	$ (141,025)	$ (83,380)			$ 1,286,087
Net (Loss)/Income													274,693				274,693
Other comprehensive income (loss)														(832)			(832)
Issuance and vesting of restricted stock awards, net							3				(3)	[2]
Forfeitures and cancellation of restricted stock awards											(56)	[2]					(56)
Compensation related to Class A options granted									$ 391							$ 391
Compensation related to Class A restricted stock awards									2,120							2,120
Conversion of Warrants to Common Stock			$ 31		$ (31)
Balance at Sep. 30, 2015							3,192				1,509,755	[2]	133,668	(84,212)			1,562,403
Balance at Dec. 31, 2015							3,720				1,651,511	[2]	(1,282)	(73,461)			1,580,488
Net (Loss)/Income													(18,139)				(18,139)
Other comprehensive income (loss)														206			206
Dividends paid													(25,503)				(30,573)
Dividends paid, APIC	[2]										(5,070)
Special dividend payable to Class B shareholders													(1,337)				(1,337)
Issuance and vesting of restricted stock awards, net							3				(3)	[2]
Vesting of restricted stock awards to be settled in cash											(528)	[2]					(528)
Forfeitures and cancellation of restricted stock awards											(363)	[2]					(363)
Compensation related to Class A options granted									1,066							1,066
Compensation related to Class A restricted stock awards									$ 3,392							3,392
Conversion of Warrants to Common Stock							413				(413)	[2]
Repurchase of Warrants and Common Stock		$ (118,041)					(5)				(119,338)	[2]				$ (1,301)	(119,343)
Reverse stock split, common stock decrease and APIC increase							(3,429)				3,429	[2]
Balance at Sep. 30, 2016							$ 702				$ 1,533,683	[2]	$ (46,261)	$ (73,255)			$ 1,414,869
[1]	Par value $0.01 per share; 166,666,666 Class A shares authorized; 70,179,442 Class A shares outstanding as of September 30, 2016.
[2]	Includes 91,016,013 outstanding Class A warrants as of September 30, 2016.
[3]	Amounts are net of tax.

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical)	Sep. 30, 2016$ / sharesshares
Common Class A [Member]
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Common stock, shares authorized	166,666,666
Common stock, shares, outstanding	70,179,442
Common Class B [Member]
Common stock, par value (in dollars per share) | $ / shares	$ 0.01
Class A Warrant [Member]
Class of warrant or right, outstanding	91,016,013

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Basis of Presentation [Abstract]
Basis of Presentation	Note 1 — Basis of Presentation: The accompanying unaudited condensed consolidated financial statements include the accounts of Overseas Shipholding Group, Inc., a Delaware corporation (the “Parent Company”), and its wholly owned subsidiaries (collectively, the “Company” or “OSG”, “we”, “us” or “our”). The Company owns and operates a fleet of oceangoing vessels engaged primarily in the transportation of crude oil and refined petroleum products in the International Flag and U.S. Flag trades through its wholly owned subsidiaries International Seaways, Inc. (formerly known as OSG International, Inc.) (“INSW”), a Marshall Islands corporation, and OSG Bulk Ships, Inc. (“OBS”), a New York corporation, respectively. 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 notes required by generally accepted accounting principles in the United States. 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 nine months ended September 30, 2016, are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. The condensed consolidated balance sheet as of December 31, 2015 has been derived from the audited financial statements at that date but does not include all of the information and notes required by generally accepted accounting principles in the United States for complete financial statements. For further information, refer to the consolidated financial statements and notes thereto included in Exhibit 99.1 of the Company’s Current Report on Form 8-K filed on July 14, 2016. The Company’s Board of Directors (the “Board”) approved a stock dividend of Class A common stock, whereby on December 17, 2015 , all shareholders of record of the Company’s Class A and B common stock as of December 3, 2015 , received a dividend of one -tenth of one share of Class A common stock for each share of Class A common stock and Class B common stock held by them as of the record date. In addition, as discussed further in Note 12, effective May 27, 2016, all Class B common shares and Class B warrants automatically converted into one Class A common share and one Class A warrant, respectively , and on June 2, 2016 the Board approved an amendment (the “Reverse Split Amendment”) to the Company’s Amended and Restated Certificate of Incorporation. The Reverse Split Amendment effected a one (1) for six (6) reverse stock split and corresponding reduction of the number of authorized shares of common stock, par value $0.01 per share (the “Reverse Split”). The Reverse Split Amendment became effective on June 13, 2016 . In accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) ASC 260, Earnings Per Share , the Company adjusted the computations of basic and diluted earnings per share retroactively for all periods presented to reflect that change in its capital structure. Accordingly, amounts previously reported for the three and nine months ended September 30, 2015, with respect to income per share, outstanding Class A shares, Class A warrants, Class B shares, Class B warrants, Class A restricted stock units, restricted shares and stock options have been restated in the context of earnings per share calculations. The table below shows the effects of the stock dividend and the Reverse Split on the calculation of per share amounts previously reported in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2015:    Three Months Ended Nine Months Ended  September 30, 2015 September 30, 2015  (unaudited) (unaudited)  Decrease in weighted average number of shares outstanding used to calculate basic net income per share amounts for Class A (477,948,757) (425,043,175)   Decrease in weighted average number of shares outstanding used to calculate diluted net income per share amounts for Class A (477,996,214) (425,112,083)   Decrease in weighted average number of shares outstanding used to calculate basic and diluted net income per share amounts for Class B (6,600,472) (6,602,295)   Change in net income per share - basic and diluted Class A and B $ 1.49 $ 2.31  Dollar amounts, except per share amounts are in thousands.

Chapter 11 Filing and Emergence

Chapter 11 Filing and Emergence from Bankruptcy	9 Months Ended
	Sep. 30, 2016
Chapter 11 Filing and Emergence from Bankruptcy [Abstract]
Chapter 11 Filing and Emergence from Bankruptcy	Note 2 — Chapter 11 Filing and Emergence from Bankruptcy: On November 14, 2012 (the “Petition Date”), the Parent Company and 180 of its subsidiaries (collectively, the “Debtors”) filed voluntary petitions for reorganization under Chapter 11 of the U.S. Code (the “Bankruptcy Code”) in the U.S. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The Debtors filed with the Bankruptcy Court a plan of reorganization (the “Equity Plan”). The Bankruptcy Court confirmed the Equity Plan by order entered on July 18, 2014 (the “Confirmation Order”). On August 5, 2014 (the “Effective Date”), the Equity Plan became effective and OSG emerged from bankruptcy. As of November 9, 2016, only OSG’s case, as the Parent Company, remains open from the original 181 Chapter 11 cases. Reorganization Items, net Reorganization items, net represent amounts incurred subsequent to the Petition Date as a direct result of the filing of our Chapter 11 cases and are comprised of the following:      Three Months Ended  September 30,  2016 2015  Trustee fees $ 30 $ 2  Professional fees 822 1,418  Provision for claims 4,880 -  $ 5,732 $ 1,420    Nine Months Ended  September 30,  2016 2015  Trustee fees $ 90 $ 173  Professional fees 1,849 6,363  Litigation Settlement, net (20,359) -  Litigation settlement due to class action plaintiffs 2,136 -  Litigation settlement due to Class B warrant holders 86 -  Provision for claims 4,880 -  Other claim adjustments - (192)  $ (11,318) $ 6,344  On February 12, 2016, the Company entered into an agreement with Proskauer and four of its partners to settle the malpractice suit filed by the Company in March 2014. Settlement proceeds totaling $20,359 net of all related out-of-pocket expenses, including legal fees, incurred by the Company during the three months ended March 31, 2016 are included in litigation settlement, net in the table above.  In addition, as discussed below in Note 1 5 , “Contingencies,” pursuant to the terms of the Company’s settlement with members of the putative class of securities claimants, the Company recognized an income statement charge for 15% , or $2,136 , of the Net Litigation Recovery amount of $14,242 (as defined below) during the nine months ended September 30, 2016. The “Net Litigation Recovery” is the gross amount of the settlement less all related out-of-pocket expenses, including legal fees, incurred by the Company since the inception of the action against the Proskauer Plaintiffs (as defined in Note 1 5 ) through the date of settlement. Further, as required by the Equity Plan, the Company’s Certificate of Incorporation and the Class B Warrant Agreement, the Company distributed 10% , or $1,423 , of the Net Litigation Recovery amount to the Class B shareholders and warrant holders in May 2016. Approximately $86 of the aforementioned $1,423, which represents the proportional share of the Net Litigation Recovery payable to the Company’s Class B warrant holders, was recognized as a charge to reorganization items, net in the second quarter of 2016. The balance of $1,337 was distributed in the form of a special dividend to the Company’s Class B shareholders and was recorded as a reduction of retained earnings.  Cash paid for reorganization items, excluding the Proskauer related settlement amounts noted above, was $6 6 8 and $1,756 for the three and nine month periods ended September 30, 2016, respectively, and $6,530 and $15,958 for the three and nine month periods ended September 30, 2015, respectively.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 — Significant Accounting Policies: 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. Management has designated cash reserves of $5,572 and $10,583 as of September 30, 2016 and December 31, 2015, respectively, to be utilized for the settlement of certain unsecured claims related to the Company’s emergence from bankruptcy. Such cash reserves, which are considered restricted cash due to management’s intent regarding these funds, are included in restricted cash in the current assets section of the condensed consolidated balance sheet based on management’s estimate of when these funds are likely to be disbursed. Such restricted cash reserves will be subject to adjustment based upon the settlement of claims. Additionally, restricted cash as of December 31, 2015 included $8,989 of legally restricted cash relating to the INSW Facilities (as defined in Note 10, “Debt”). Such restricted cash reserves were included in the non-current assets section of the condensed consolidated balance sheet at December 31, 2015. Activity relating to restricted cash is reflected in investing activities in the condensed consolidated statements of cash flow.  Deferred finance charges — Finance charges incurred in the arrangement and amendment of debt are deferred and amortized to interest expense on either an effective interest method or straight-line basis over the life of the related debt. Unamortized deferred finance charges of $2,771 and $2,922 relating to the OBS ABL Facility and INSW Revolver Facility (each, as defined in Note 10, “Debt”) are included in other assets in the condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015, respectively. Unamortized deferred financing charges of $33,388 and $41,020 relating to the OBS Term Loan and INSW Term Loan (each, as defined in Note 10, “Debt”) and $1,676 and $3,523 relating to the Unsecured Senior Notes are included in long-term debt (reflecting the adoption of ASU No. 2015-03 discussed below) in the condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015, respectively. Interest expense relating to the amortization of deferred financing charges amounted to $2,897 and $8,936 for the three and nine months ended September 30, 2016, respectively, and $2,763 and $7,634 for the three and nine months ended September 30, 2015, respectively.  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 nine month periods ended September 30, 2016 and 2015, 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 in aggregate for 70% and 77% of consolidated voyage receivables at September 30, 2016 and December 31, 2015, respectively.  Vessel Lives —The carrying value of each of the Company’s vessels represents its original cost at the time it was delivered or purchased less depreciation calculated using estimated useful lives from the date such vessel was originally delivered from the shipyard or from the date (as in the case of certain of the Company’s ATBs) a vessel was rebuilt. A vessel’s carrying value is reduced to its new cost basis (i.e., its current fair value) if a vessel impairment charge is recorded.  If the estimated economic lives assigned to the Company’s vessels prove to be too long because of new regulations, the continuation of weak markets, the broad imposition of age restrictions by the Company’s customers, or other future events, it could result in higher depreciation expense and impairment losses in future periods related to a reduction in the useful lives of any affected vessels. In evaluating various impairment indicators that existed at September 30, 2016 (See Note 6, “Vessels”), management currently believes that the Company will scrap seven of its rebuilt ATBs prior to their current estimated disposal date. Accordingly, the remaining useful lives for such ATBs will be adjusted on a prospective basis beginning on October 1, 2016. This reduction in useful lives is expected to reduce the decrease in depreciation expense attributable to the ATB vessel impairments discussed in Note 6, “Vessels ,” by approximately $ 2,200 per quarter for the U.S. Flag segment and on a consolidated basis. Impairment of long-lived asset s —The carrying amounts of long-lived assets held and used by the Company are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a particular asset may not be fully recoverable. In such instances, an impairment charge would be recognized if the estimate of the undiscounted future cash flows expected to result from the use of the asset and its eventual disposition is less than the asset’s carrying amount. This assessment is made at the individual vessel level since separately identifiable cash flow information for each vessel is available. The impairment charge, if any, would be measured as the amount by which the carrying amount of a vessel exceeded its fair value. A long-lived asset impairment charge results in a new cost basis being established for the relevant long-lived asset. During the quarter ended September 30, 2016, management determined that certain of the Company’s International Flag and U.S. Flag vessels were impaired. Accordingly, those assets were written down to their estimated fair values at September 30, 2016. See Note 6, “Vessels” for further discussion on the impairment tests performed on certain of our International Flag and U.S. Flag vessels at September 30, 2016.  Intangible assets —Intangible assets with estimable useful lives are amortized over their estimated useful lives and are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of the intangible may be impaired. The Company’s intangible assets at September 30, 2016 consisted of long-term customer relationships acquired as part of the 2006 purchase of Maritrans, Inc. (a component of the U.S. Flag business segment). The long-term customer relationships asset is being amortized on a straight-line basis over 20 years. As discussed in Note 6, “Vessels,” during the quarter ended September 30, 2016, the Company identified changes in circumstances that were indicative of a continued weakening of the Jones Act market. Such indicators included a decline in the number of Jones Act tank vessels transporting crude oil, which led to (i) increased competition for clean cargoes and the idling of some Jones Act vessels; (ii) a sharp decrease in estimated spot rates for Jones Act Product Carriers and large ATBs between July and September 2016; and (iii) a significant decline in forecasted near term TCE rates reported by a leading third party industry analyst . These factors were determined to be triggering events warranting an interim impairment test of the $46,767 carrying value of the customer relationships intangible asset. As there can be significant overlap between the customers served by each of the Company’s U.S. Flag vessel types, the U.S. Flag business as a whole was determined to be the lowest level at which cash flows are largely independent of the cash flows of other groups of assets and liabilities for purposes of testing the U.S. Flag customer relationship intangible asset for recoverability. T he Company reduced its estimates of undiscounted future cash flows from the U.S. Flag business segment to reflect consideration of the above new factors. Based on the results of the recoverability test performed, no impairment was recorded as of September 30, 2016 as the net cash flows from the asset group were in excess of the carrying value of the asset group.  Income Taxes —The Company’s quarterly income tax provision 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, the Company estimates the annual effective tax rate based on projected taxable income for the full year and records a quarterly tax provision or benefit 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.  Recently Adopted Accounting Standards In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (ASC 835 ), which amends the requirement to recognize debt issuance costs as deferred charges. The amendment requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying cost of that debt liability, consistent with debt discounts. The amendments are effective for public companies for annual periods and interim periods within those annual periods beginning after December 15, 2015. The Company adopted this accounting standard on January 1, 2016 and has applied the guidance retrospectively. The impact of the retrospective adoption on the Company’s December 31, 2015 balance sheet are reductions of both other assets and long-term debt by $44,543.  Recently Issued Accounting Standards In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (ASC 230) , which amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of the ASU is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic with respect to (1) debt prepayment or debt extinguishment costs; (2) settlement of zero-coupon debt; (3) contingent consideration payments made after a business combination; (4) proceeds from the settlement of insurance claims; (5) proceeds from the settlement of corporate-owned life insurance policies; (6) distributions received from equity method investees; (7) beneficial interests in securitization transactions; and (8) separately identifiable cash flows and application of the predominance principle. The standard will be effective for interim and annual periods beginning after December 31, 2017 and early adoption is permitted. The guidance requires application using a retrospective transition method. Management is currently reviewing the impact of the adoption of this accounting standard on the Company’s consolidated financial statements.  In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting (ASC 718) , which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification in the statement of cash flows. The standard will be effective for annual periods beginning after December 31, 2016 and interim periods within that reporting period. Management is currently reviewing the impact of the adoption of this accounting standard on the Company’s consolidated financial statements.  In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC 842) , which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. Management is analyzing the impact of the adoption of this guidance on the Company’s 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. Management expects that the Company will recognize substantial increases in reported amounts for property, plant and equipment and related lease liabilities upon adoption of the new standard.  In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (ASC 205) , which explicitly requires management to assess an entity’s ability to continue as a going concern and disclose going concern uncertainties in connection with each annual and interim period. The new standard requires management to assess if there is substantial doubt about an entity’s ability to continue to meet its obligations within one year after the reporting date based upon management’s consideration of relevant conditions that are known (and reasonably knowable) at the issuance date. The new standard defines substantial doubt and provides example indicators. Disclosures will be required if conditions give rise to substantial doubt. However, management will need to assess if its plans will alleviate substantial doubt to determine the specific disclosures. The new standard will be effective for all entities in the first annual period ending after December 15, 2016. Earlier application is permitted. Management does not expect the adoption of this accounting standard to have any impact on the Company’s consolidated financial statements.  In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 6 06) to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. Subsequent to the May 2014 issuance, several clarifications and updates have been issued on this topic. 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 FASB subsequently delayed the effective date of the revenue standard by one year. For public companies, the revenue standard is effective for the first interim period within annual reporting periods beginning after December 15, 2017. Reporting entities may choose to adopt the standard as of the original effective date. The requirements of this standard include an increase in required disclosures. Management has not yet selected a transition method and is currently analyzing the impact of the adoption of this guidance on the Company’s 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.  

Earnings per Common Share

Earnings per Common Share	9 Months Ended
	Sep. 30, 2016
Earnings per Common Share [Abstract]
Earnings per Common Share	Note 4 — Earnings per Common Share: Basic earnings per common 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. As management deemed the exercise price for the Class A and B warrants of $0.01 per share to be nominal, warrant proceeds are ignored and the shares issuable upon Class A and B warrant exercise are included in the calculation of Class A and B basic weighted average common shares outstanding for all periods. The computation of diluted earnings per share assumes the issuance of common stock for all potentially dilutive stock options and restricted stock units. Participating securities are defined by ASC 260, Earnings Per Share, 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.  The Company’s Board approved a stock dividend of Class A common stock, whereby on December 17, 2015, all shareholders of record of the Company’s Class A and B common stock as of December 3, 2015, received a dividend of one-tenth of one share of Class A common stock for each share of Class A common stock and Class B common stock held by them as of the record date. As noted above, the Company’s Board approved a reverse stock split, whereby on June 13, 2016, a one (1) for six (6) reverse stock split and corresponding reduction in the number of authorized shares was effected. Accordingly, amounts previously reported for the three and nine months ending September 30, 2015 with respect to income per share, outstanding Class A common shares, Class A warrants, Class B common shares, Class B warrants, Class A restricted stock units, Class A restricted shares and Class A stock options have been restated in the context of earnings per share calculations. See Note 1, “Basis of Presentation,” for a summary of the effects of the stock dividend and the Reverse Split on the calculation of per share amounts previously reported in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2015. Class A There were 65,769 and 49,036 weighted average shares of unvested Class A restricted common stock shares considered to be participating securities for the three and nine month periods ended September 30, 2016, respectively, and 61,567 and 56,931 weighted average shares of unvested Class A restricted common stock shares considered to be participating securities for the three and nine month periods ended September 30, 2015, respectively. Such participating securities were allocated a portion of income under the two-class method for the three and nine months ended September 30, 2015. Holders of the participating securities do not participate in losses. The computation of diluted earnings per share assumes the issuance of common stock for all potentially dilutive stock options and restricted stock units. As of September 30, 2016 and 2015, respectively, there were 718,227 and 268,538 shares of Class A stock options outstanding and 602,454 and 298,389 shares of unvested Class A restricted stock units outstanding which are considered to be potentially dilutive securities. Class B There are no participating securities or potentially dilutive securities relating to the Class B common stock.  The components of the calculation of basic earnings per share and diluted earnings per share are as follows:      Three Months Ended  September 30,  2016 2015   Net (loss)/income $ (98,739) $ 173,354   Weighted average common shares outstanding:  Common stock - basic and diluted  Class A common stock - basic 89,363,106 95,589,751  Class A common stock - diluted 89,363,106 95,599,243  Class B common stock - basic and diluted - 1,320,094    Nine Months Ended  September 30,  2016 2015   Net (loss)/income $ (18,139) $ 274,693   Weighted average common shares outstanding:  Common stock - basic and diluted  Class A common stock - basic 92,108,745 95,579,545  Class A common stock - diluted 92,108,745 95,598,816  Class B common stock - basic and diluted 712,976 1,320,459 For the three months ended September 30, 2015 earnings per share calculations, there wer e 9 ,492 dilutive equity awards outstanding. For the nine months ended September 30, 2015 earnings per share calculations, there were 19 ,271 dilutive equity awards outstanding. Awards of 1,089,276 and 83 9, 841 for the three and nine months ended September 30, 2016, respectively, were not included in the computation of diluted earnings per share because inclusion of these awards would be anti-dilutive. Awards of 268,538 and 162,358 for the three and nine months ended September 30, 2015, respectively, were not included in the computation of diluted earnings per share because inclusion of these awards would be anti-dilutive.

Business and Segment Reporting

Business and Segment Reporting	9 Months Ended
	Sep. 30, 2016
Business and Segment Reporting [Abstract]
Business and Segment Reporting	Note 5 — 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 and other property , including impairment charges . The accounting policies followed by the reportable segments are the same as those followed in the preparation of the Company’s consolidated financial statements.  Information about the Company’s reportable segments as of and for the three and nine months ended September 30, 2016 and 2015 follows:       International  Crude Product  Three months ended Tankers Carriers Other U.S. Totals  September 30, 2016:  Shipping revenues $ 53,532 $ 27,239 $ - $ 114,180 $ 194,951  Time charter equivalent revenues 50,156 27,010 - 109,649 186,815  Depreciation and amortization 13,265 6,885 226 22,832 43,208  (Loss)/gain on disposal of vessels and other property, including impairments (4,315) (45,325) - (97,782) (147,422)  Income/(loss) from vessel operations 13,428 (1,575) (77) 26,895 38,671  Equity in income of affiliated companies 9,321 - 3,167 - 12,488  Investments in and advances to affiliated companies at September 30, 2016 287,303 15,241 60,700 38 363,282  Total assets at September 30, 2016 1,087,118 448,495 60,700 829,110 2,425,423   September 30, 2015:  Shipping revenues 80,896 50,220 5 110,631 241,752  Time charter equivalent revenues 76,222 49,980 5 107,381 233,588  Depreciation and amortization 12,817 7,306 281 18,339 38,743  Loss/(gain) on disposal of vessels and other property (4) 3,236 6 (53) 3,185  Income from vessel operations 38,945 22,452 521 30,486 92,404  Equity in income of affiliated companies 8,537 - 2,441 - 10,978  Investments in and advances to affiliated companies at September 30, 2015 280,678 13,964 48,965 38 343,645  Total assets at September 30, 2015 1,156,097 513,208 48,965 1,000,811 2,719,081     International  Crude Product  Nine months ended Tankers Carriers Other U.S. Totals  September 30, 2016:  Shipping revenues $ 212,907 $ 99,602 $ - $ 347,644 $ 660,153  Time charter equivalent revenues 204,059 98,771 - 336,602 639,432  Depreciation and amortization 39,225 20,523 734 68,401 128,883  (Loss)/gain on disposal of vessels and other property, including impairments (4,114) (45,325) (142) (97,796) (147,377)  Income from vessel operations 96,312 14,581 94 92,038 203,025  Equity in income/(loss) of affiliated companies 27,312 - 8,781 (15) 36,078  Expenditures for vessels and vessel improvements 57 534 - - 591  Payments for drydockings 3,541 1,392 - 5,306 10,239   September 30, 2015:  Shipping revenues 235,843 136,758 61 348,119 720,781  Time charter equivalent revenues 220,012 135,863 59 334,499 690,433  Depreciation and amortization 37,982 21,206 998 53,545 113,731  Loss/(gain) on disposal of vessels and other property 4 3,231 1,139 (116) 4,258  Income/(loss) from vessel operations 113,245 51,679 (156) 108,950 273,718  Equity in income/(loss) of affiliated companies 25,908 - 9,318 (6) 35,220  Expenditures for vessels and vessel improvements - 716 - 53 769  Payments for drydockings 8,334 2,261 - 27,674 38,269 Reconciliations of time charter equivalent (“TCE”) revenues of the segments to shipping revenues as reported in the condensed statements of operations follow:      Three Months Ended  September 30,  2016 2015  Time charter equivalent revenues $ 186,815 $ 233,588  Add: Voyage expenses 8,136 8,164  Shipping revenues $ 194,951 $ 241,752    Nine Months Ended  September 30,  2016 2015  Time charter equivalent revenues $ 639,432 $ 690,433  Add: Voyage expenses 20,721 30,348  Shipping revenues $ 660,153 $ 720,781  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 from vessel operations of the segments to income before income taxes, as reported in the condensed consolidated statements of operations follow:       Three Months Ended  September 30,  2016 2015  Total income from vessel operations of all segments $ 38,671 $ 92,404  General and administrative expenses (19,076) (21,376)  Severance costs (2,238) -  (Loss)/gain on disposal of vessels and other property, including impairments (147,422) 3,185  Consolidated (loss)/income from vessel operations (130,065) 74,213  Equity in income of affiliated companies 12,488 10,978  Other expense (5,079) (1,963)  Interest expense (20,126) (29,191)  Reorganization items, net (5,732) (1,420)  (Loss)/income before income taxes $ (148,514) $ 52,617    Nine Months Ended  September 30,  2016 2015  Total income from vessel operations of all segments $ 203,025 $ 273,718  General and administrative expenses (53,792) (58,129)  Technical management transition costs - (40)  Severance costs (2,238) (5)  (Loss)/gain on disposal of vessels and other property, including impairments (147,377) 4,258  Consolidated (loss)/income from vessel operations (382) 219,802  Equity in income of affiliated companies 36,078 35,220  Other expense (3,104) (1,842)  Interest expense (63,337) (86,691)  Reorganization items, net 11,318 (6,344)  (Loss)/income before income taxes $ (19,427) $ 160,145  Reconciliations of total assets of the segments to amounts included in the condensed consolidated balance sheets follow:      As of September 30, 2016 2015   Total assets of all segments $ 2,425,423 $ 2,719,081  Corporate unrestricted cash (1) 313,232 628,015  Corporate restricted cash (1) 5,572 26,568  Other unallocated amounts 5,727 52,276  Consolidated total assets $ 2,749,954 $ 3,425,940  (1) As of September 30, 2016 and 2015, OBS and its subsidiaries had unrestricted cash balances of $113,611 and $186,819 , respectively, and INSW and its subsidiaries had unrestricted cash balances of $110,158 and $250,315 , respectively. Of the restricted cash balances, $0 and $8,989 were held by INSW as of September 30, 2016 and 2015, respectively. The remaining balances were held by the Parent Company, OSG.

Vessels

Vessels	9 Months Ended
	Sep. 30, 2016
Vessels [Abstract]
Vessels	Note 6 — Vessels: Vessel Impairments and Change in Useful Lives of Vessels The Company gave consideration as to whether events or changes in circumstances had occurred since June 30, 2016 that could indicate that the carrying amounts of the vessels in the Company’s International and U.S. Flag fleets may not be recoverable as of September 30, 2016 and concluded that there were such indications.  International Fleet  For the International Flag fleet, the Company has been monitoring the industry wide decline in vessel valuations during 2016 and specifically from June 30, 2016 to September 30, 2016, as well as the decline in forecasted near term charter rates, and concluded that declines in vessel valuations of up to 20% during the quarter ended September 30, 2016 for 28 vessels in its International Flag fleet with carrying values in excess of their estimated market values, constituted an impairment trigger event for these vessels as of September 30, 2016. In developing estimates of undiscounted future cash flows for performing Step 1 of the impairment tests , the Company made assumptions about future performance, with significant assumptions being related to charter rates, ship operating expenses, utilization, drydocking requirements, residual value and the estimated remaining useful lives of the vessels. These assumptions are based on historical trends as well as future expectations. The estimated daily time charter equivalent rates used for unfixed days were based on a combination of (i) internally forecasted rates that are consistent with forecasts provided to the Company’s senior management and Board of Directors, and (ii) the trailing 12-year historical average rates, based on quarterly average rates published by a third party maritime research service. The internally forecasted rates were based on management’s evaluation of current economic data and trends in the shipping and oil and gas industries. In estimating the fair value of the vessels for the purposes of step 2 of the impairment tests, the Company developed fair value estimates that utilized a market approach which considered an average of two vessel appraisals. Based on the tests performed, impairment charges totaling $49,640 were recorded on two LR1s, an Aframax and a Panamax to write-down their carrying values to their estimated fair values at September 30, 2016. The remaining 24 vessels tested had estimated undiscounted future cash flows in excess of their carrying values . The aggregate carrying values of these vessels were approximately $210,000 in excess of their respective estimated market values.  U.S. Flag Fleet  For the U.S. Flag fleet, the Company considered changes in circumstances that appeared to be indicative of a continued weakening of the Jones Act crude oil transportation market during the quarter ended September 30, 2016. Such indicators included a decline in the number of Jones Act tank vessels transporting crude oil, which led to (i) increased competition for clean cargoes and the idling of some Jones Act vessels; (ii) a sharp decrease in estimated spot rates for Jones Act Product Carriers and large ATBs between July and September 2016; and (iii) a significant decline in forecasted near term TCE rates reported by a leading third party industry analyst. These factors were viewed as an impairment trigger event for the Company’s eight rebuilt ATBs at September 30, 2016. In addition, given the uncertainty around how long the weak market conditions discussed above could last taking into consideration the large number of newbuildings scheduled for delivery, management believes it is more likely than not that some of the rebuilt ATBs will be laid-up, scrapped or disposed of before the end of their estimated useful lives, which currently range between 2019 and 2020.The indicators discussed above were not considered to be impairment triggering events for the other U.S. Flag ATBs and tankers in the Company’s fleet as these vessels (i) were fairly recently built and do not face the same commercial obsolescence issues faced by the rebuilt ATBs, and (ii) are currently operating under long-term charters or contracts of affreightment.  In developing estimates of undiscounted future cash flows for performing Step 1 of the impairment tests , management made assumptions about future performance, with significant assumptions being related to charter rates, ship operating expenses, utilization, drydocking requirements, residual value and the estimated remaining useful lives of the vessels. The assumptions about the estimated remaining useful lives of the ATBs reflects management’s current belief that the Company would scrap these ATBs at the expiry of their current time charters. Based on tests performed, the sum of the undiscounted cash flows for seven of the eight rebuilt ATBs were less than their September 30, 2016 carrying values. Accordingly, the Company recorded an impairment charge of $97,782 (including $3,873 recorded as a reduction in deferred drydock costs) to write down the carrying values of the seven ATBs to their estimated fair values as of September 30, 2016, using estimates of discounted future cash flows for each of the vessels (income approach) since the secondhand sale and purchase market for the type of U.S. Flag vessels owned by OSG is not considered to be robust. Vessel Sales and Acquisitions There were no vessels sold or acquired during the three and nine months ended September 30, 2016. During the three months ended September 30, 2015, the Company sold a 1998-built International Flag MR . The Company recognized a gain of $3,236 on the sale of this vessel during the three and nine months ended September 30, 2015. 

Variable Interest Entities ("VI

Variable Interest Entities ("VIEs")	9 Months Ended
	Sep. 30, 2016
Variable Interest Entities ("VIEs") [Abstract]
Variable Interest Entities ("VIEs")	Note 7 — Variable Interest Entities (“VIEs”): As of September 30, 2016, the Company participates in six commercial pools and three joint ventures. One of the pools and the FSO joint venture were determined to be VIEs. The Company is not considered a primary beneficiary of either the pool 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 September 30, 2016:     Condensed Consolidated Balance Sheet  Investments in Affiliated Companies $ 282,181 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 and interest rate swap obligations. The table below compares the Company’s liability in the condensed consolidated balance sheet to the maximum exposure to loss at September 30, 2016:      Condensed Consolidated Balance Sheet Maximum Exposure to Loss  Other Liabilities $ - $ 321,600  In addition, as of September 30, 2016, the Company had approximately $8,001 of trade receivables from the pool that was determined to be a VIE. 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 September 30, 2016. 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.

Equity Method Investments

Equity Method Investments	9 Months Ended
	Sep. 30, 2016
Equity Method Investments [Abstract]
Equity Method Investments	Note 8 — Equity Method Investments:  Investments in affiliated companies include joint ventures accounted for using the equity method. As of September 30, 2016, 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 (“FSO”) 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 Joint Venture Maersk Oil Qatar AS 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 INSW . 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 $75,343 and $104,200 was outstanding under this facility as of September 30, 2016 and December 31, 2015, 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. In connection with the secured bank financing, the partners severally issued 50% guarantees. As of September 30, 2016 and December 31, 2015, the carrying value of the Company’s guaranty in the accompanying condensed consolidated balance sheet was $0 . The joint venture entered into floating-to-fixed interest rate swaps with major financial institutions. These agreements have maturity dates ranging from July to September 2017. The interest rate swaps, covering notional amounts aggregating $145,432 and $201,346 as of September 30, 2016 and December 31, 2015, respectively, pay fixed rates of approximately 3.9% and receive floating rates based on LIBOR. All of the interest rate swaps were being accounted for as cash flow hedges through December 31, 2009. 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 a gain of $74 and a loss of $235 for the three months ended September 30, 2016 and 2015, respectively, and losses of $164 and $606 for the nine months ended September 30, 2016 and 2015, respectively. As of September 30, 2016 and December 31, 2015, the joint venture had a liability of $3,453 and $7,203 , 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 $411 and $1,334 at September 30, 2016 and December 31, 2015, respectively, is included in accumulated other comprehensive loss in the accompanying balance sheet and is associated with the FSO Asia swaps only, since the swaps associated with the FSO Africa have been de-designated and deemed to be ineffective. The carrying amount of the Company’s investment in and advances to the FSO joint venture is $279,447 as of September 30, 2016. The charters under which the Company’s FSO joint venture vessels currently operate expire in 2017 and may not be renewed. Qatar Petroleum announced in June 2016 that it had awarded a 30% interest in the concession covering the field on which the FSO vessels operate to a new development partner. Thus, any renewal of the charters under which the FSO joint venture vessels operate would need to be negotiated with this new development partner and may not be comparable to the existing agreements with respect to rates and other material terms or the charters might not be extended at all . If events relating to these risks were to come to pass, it could have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows. 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 (2). QGTC subsequently contributed its ownership interests in the joint venture to its wholly owned subsidiary, Nakilat Marine Services Ltd. 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 $648,813 and $678,132 was outstanding under this secured facility as of September 30, 2016 and December 31, 2015, respectively. The joint venture has entered into floating-to-fixed interest rate swaps with a group of major financial institutions pursuant to which it pays fixed rates of approximately 4.9% and receives a floating rate based on LIBOR. The interest rate swap agreements have maturity dates ranging from July to November 2022 and cover notional amounts aggregating $627,488 and $656,400 at September 30, 2016 and December 31, 2015, respectively. These swaps are being accounted for as cash flow hedges. As of September 30, 2016 and December 31, 2015, the joint venture recorded a liability of $107,965 and $103,262 , respectively, for the fair value of these swaps. The Company’s share of the effective portion of the fair value of these swaps, $53,807 and $51,467 at September 30, 201 6 and December 31, 201 5 , respectively, is included in accumulated other comprehensive loss in the accompanying condensed consolidated balance sheet. See Note 9, “Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures,” and 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 invest ees follows:    Three Months Ended  September 30,  2016 2015  Shipping revenues $ 89,982 $ 94,365  Ship operating expenses (55,276) (61,081)  Income from vessel operations 34,706 33,284  Other expense (295) (240)  Interest expense (10,420) (12,075)  Net income $ 23,991 $ 20,969       Nine Months Ended  September 30,  2016 2015  Shipping revenues $ 258,619 $ 274,383  Ship operating expenses (155,868) (171,764)  Income from vessel operations 102,751 102,619  Other (expense)/income (1,017) 990  Interest expense (32,539) (36,117)  Net income $ 69,195 $ 67,492  

Fair Value of Financial Instrum

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures	9 Months Ended
	Sep. 30, 2016
Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures	Note 9 — 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 and restricted cash— The carrying amounts reported in the condensed consolidated balance sheet for interest-bearing deposits approximate their fair value. Debt— The fair values of the Company’s publicly traded and non-public debt at September 30, 2016 are estimated based on quoted market prices.  Interest rate swaps and caps— The fair values of interest rate swaps and caps are the estimated amounts that the Company would receive or pay to terminate the swaps or caps at the reporting date, which include adjustments for the counterparty or the Company’s credit risk, as appropriate, after taking into consideration any underlying collateral securing the swap or cap agreements. ASC 820, Fair Value Measurements and Disclosures , relating to fair value measurements defines fair value and established a framework for measuring fair value. The ASC 820 fair value hierarchy distinguishes between market participant assumptions developed based on market data obtained from sources independent of the reporting entity and the reporting entity's own assumptions about market participant assumptions developed based on the best information available in the circumstances. ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, essentially an exit price. In addition, the fair value of assets and liabilities should include consideration of non-performance risk, which for the liabilities described below includes the Company's own credit risk. The levels of the fair value hierarchy established by ASC 820 are as follows: Level 1- Quoted prices in active markets for identical assets or liabilities Level 2- Quoted prices for similar assets and liabilities in active markets or inputs that are observable Level 3- Inputs that are unobservable (for example cash flow modeling inputs based on assumptions) The estimated fair values of the Company’s financial instruments, other than derivatives that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:    Fair Value Level 1 Level 2  September 30, 2016:  Cash (1) $ 318,804 $ 318,804 $ -  8.125% notes due 2018 (86,006) - (86,006)  OBS Term loan (474,881) - (474,881)  INSW Term loan (462,661) - (462,661)  7.5% Election 2 notes due 2021 (316) - (316)  7.5% notes due 2024 (409) - (409)   December 31, 2015:  Cash (1) $ 522,408 $ 522,408 $ -  8.125% notes due 2018 (121,046) - (121,046)  OBS Term loan (571,682) - (571,682)  INSW Term loan (601,928) - (601,928)  7.5% Election 2 notes due 2021 (328) - (328)  7.5% notes due 2024 (745) - (745) (1) Includes current and non-current restricted cash aggregating $5,572 and $19,572 at September 30, 2016 and December 31, 2015, respectively.  Derivatives Interest Rate Risk The Company uses interest rate caps and swaps for the management of interest rate risk exposure. At September 30, 2016, OBS and INSW were party to two separate interest rate cap agreements (“Interest Rate Cap”) each with a start date of February 5, 2015 with major financial institutions covering notional amounts of $375,000 and $400,000 , respectively, to limit the floating interest rate exposure associated with their respective term loans. The Interest Rate Cap agreements were designated and qualified as cash flow hedges and contain no leverage features. The OBS Interest Rate Cap has a cap rate of 2.5% through February 5, 2017, at which time the cap rate increases to 3.0% through the termination date of February 5, 2018. The INSW Interest Rate Cap has a cap rate of 2.5% through the termination date of February 5, 2017. Tabular disclosure of derivatives location Derivatives are recorded on a net basis by counterparty when a legal right of offset exists. The following table presents information with respect to the fair values of derivatives reflected in the September 30, 2016 and December 31, 2015 balance sheets on a gross basis by transaction:     Asset Derivatives Liability Derivatives  Balance Sheet Location Amount Balance Sheet Location Amount  September 30, 2016:   Derivatives designated as hedging instruments:   Interest rate caps:  Long-term portion Other assets $ 1 Other liabilities $ -  Total derivatives designated as hedging instruments $ 1 $ -   December 31, 2015:   Derivatives designated as hedging instruments:   Interest rate caps:  Long-term portion Other assets $ 102 Other liabilities $ -  Total derivatives designated as hedging instruments $ 102 $ - The following tables present information with respect to gains and losses on derivative positions reflected in the condensed consolidated statements of operations or in the condensed consolidated statements of other comprehensive income.  The effect of cash flow hedging relationships recognized in other comprehensive income /(loss) excluding amounts reclassified from accumulated other comprehensive loss (effective portion), including hedges of equity method investees, for the three and nine month periods ended September 30, 2016 and 2015 follows:     Three Months Ended  September 30,  2016 2015  Interest rate swaps $ 2,303 $ (10,152)  Interest rate caps - (348)  Total $ 2,303 $ (10,500)    Nine Months Ended  September 30,  2016 2015  Interest rate swaps $ (13,367) $ (13,388)  Interest rate caps (101) (1,930)  Total $ (13,467) $ (15,318)  The effect of cash flow hedging relationships on the unaudited condensed consolidated statement of operations is presented excluding hedges of equity method investees. The effect of INSW’s cash flow hedging relationships on the unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2016 and 2015 follows:    Statement of Operations  Effective Portion of Gain/(Loss)  Reclassified from  Accumulated Other Comprehensive  Loss Ineffective Portion  Amount of Amount of  Location Gain/(Loss) Location Gain/(Loss)  For the three months ended September 30, 2016:  Interest rate caps Interest expense $ (258) Interest expense $ -  Total $ (258) $ -   For the three months ended September 30, 2015:  Interest rate caps Interest expense $ - Interest expense $ -  Total $ - $ -     Statement of Operations  Effective Portion of Gain/(Loss)  Reclassified from  Accumulated Other Comprehensive  Loss Ineffective Portion  Amount of Amount of  Location Gain/(Loss) Location Gain/(Loss)  For the nine months ended September 30, 2016:  Interest rate caps Interest expense $ (392) Interest expense $ -  Total $ (392) $ -   For the nine months ended September 30, 2015:  Interest rate caps Interest expense $ - Interest expense $ -  Total $ - $ -  See Note 13, “Accumulated Other Comprehensive Loss,” for disclosures relating to the impact of derivative instruments on accumulated other comprehensive loss.  Fair Value Hierarchy The following table presents the fair values, which are pre-tax, for assets and liabilities measured on a recurring basis (excluding investments in affiliated companies):     Fair Value Level 1 Level 2  Assets/(Liabilities) at September 30, 2016:  Derivative Assets (interest rate caps) $ 1 $ - $ 1 (1)   Assets/(Liabilities) at December 31, 2015:  Derivative Assets (interest rate caps) $ 102 $ - $ 102 (1) (1) For interest rate caps, fair values are derived using valuation models that utilize the income valuation approach. These valuation models take into account contract terms such as maturity, as well as other inputs such as interest rate yield curves and creditworthiness of the counterparty and the Company.   The following table summarizes the fair values of impairments measured at fair value on a nonrecurring basis for the nine months ended September 30, 2016:   Description Fair Value Level 2 Level 3 Total Impairment Charges  Assets:   U.S. Flag impairment - Vessels held and used (1)(2) $ 70,884 $ - $ 70,884 $ (97,782)   International Crude Tankers - Vessels held and used (1)(3) $ 28,875 $ 28,875 $ - $ (4,315)   International Product Carriers - Vessels held and used (1)(3) $ 40,000 $ 40,000 $ - $ (45,325)  (1) Aggregate pre-tax impairment charges of $147,422 were recorded in the third quarter of 2016, related to seven ATBs held and use d in the U.S. Flag segment and two vessels held and used in each of the International Crude Tanker and International Product Carriers segments. (2) The fair value measurement used to determine the impairment for the U.S. Flag vessels held and used was based on the income approach, which utilized cash flow projections consistent with the most recent projections of the Company, and a discount rate equivalent to a market participant's weighted average cost of capital. Because the Company uses its own cash flow projections, the cash flow projections are considered to be Level 3 . (3) The fair value measurement used to determine the impairment for the International Flag vessels held and used was based upon a market approach, which considered the expected sales prices of the vessels obtained from vessel appraisals . Because sales of vessels occur somewhat infrequently the expected sales prices are considered to be Level 2.

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt [Abstract]
Debt	Note 10 — Debt: Debt consists of the following:      September 30, December 31,  2016 2015  8.125% notes due 2018 , net of unamortized discount and deferred costs of $1,668 and $3,514 $ 79,951 $ 115,450  OBS term loan, due 2019 , net of unamortized discount and deferred costs of $12,569 and $19,340 461,719 574,615  INSW term loan, due 2019 , net of unamortized discount and deferred costs of $22,116 and $23,727 439,390 595,222  7.5% Election 2 notes due 2021 , net of unamortized discount and deferred costs of $8 and $9 293 292  7.50% notes due 2024 390 684  Total debt 981,743 1,286,263  Less current portion 25,483 63,039  Long-term portion $ 956,260 $ 1,223,224 The weighted average interest rate for debt outstanding as of September 30, 2016 and December 31, 2015 was 5.78% and 5.81% , respectively. Exit Financing Facilities Capitalized terms used hereafter in this Note 10 have the meanings given in this Quarterly Report on Form 10-Q or in the Company’s 2015 Annual Report on Form 10-K or in the respective transaction documents referred to below, including subsequent amendments thereto.  As of September 30, 2016, no amounts had been drawn under the OBS ABL Facility or the INSW Revolver Facility.  On July 18, 2016, the Company entered into a second amendment (the “Second INSW Credit Agreement Amendment”) to the INSW Facilities. The Second INSW Credit Agreement Amendment, among other things, amends the conditions under which the INSW Facilities permit OSG to spin off INSW. In particular, the Second INSW Credit Agreement Amendment permits the distribution of OSG’s equity interests in INSW to OSG’s shareholders in conjunction with the transfer of substantially all of INSW’s assets (subject to certain exceptions) to a new wholly-owned subsidiary of INSW, subject to the satisfaction of other conditions set forth in the INSW Facilities and the Second INSW Credit Agreement Amendment. On September 20, 2016, the Company entered into a third amendment (the “Third INSW Credit Agreement Amendment”) to the INSW Facilities. The Third INSW Credit Agreement Amendment, among other things, (i) pe r mitted INSW to dividend up to an aggregate amount of $100,000 to OSG prior to October 14, 2016; (ii) reduced the maximum amount of Incremental Term Loans and Incremental Revolving Loans (as defined in the INSW Facilities) the Borrowers may obtain under the INSW Facilities to $200,000 and alters certain conditions for providing such loans; (iii) increased the amount of certain investments INSW and its subsidiaries may make under the INSW Facilities; and (iv) required INSW to prepay outstanding Initial Term Loans (as defined in the INSW Facilities) in an aggregate principal amount equal to $75,000 substantially simultaneously with the effective date of the Third INSW Credit Agreement Amendment. The dividend distribution of $100,000 to OSG and the $75,000 prepayment of the outstanding principal balance of the INSW Term Loan were completed as of September 30, 2016.  The OBS Term Loan and the INSW Term Loan amortize in equal quarterly installments in aggregate annual amounts equal to 1% of the original principal amount of the loans, adjusted for optional and mandatory prepayments. Each of the OBS Term Loan and the INSW Facilities stipulates that if annual aggregate net cash proceeds of asset sales exceed $5,000 , the net cash proceeds from each such sale are required to be reinvested in fixed or capital assets within twelve months of such sale or be used to prepay the principal balance outstanding of the respective facility. The OBS Term Loan and the INSW Term Loan are subject to additional mandatory annual prepayments in an aggregate principal amount of up to 50% of Excess Cash Flow. Management determined that it had Excess Cash Flow under the OBS Term Loan for the nine months ended September 30, 2016 and has projected the amount of Excess Cash Flow for the three months ended December 31, 2016 based on the facts at September 30, 2016. The mandatory prepayment, less any optional principal payments made during the year ending December 31, 2016, will be due during the first quarter of 2017. The mandatory prepayment is estimated to be approximately $19,300 , and is included in current installments of long-term debt on the condensed consolidated balance sheet as of September 30, 2016. Management estimates that no prepayment will be required for the INSW Term Loan for 2016. Each Exit Financing Facility contains certain restrictions relating to new borrowings, and the movement of funds between the borrowers and OSG (as Parent Company), which is not a borrower under the Exit Financing Facilities, as set forth in the respective loan agreements. The Parent Company’s ability to receive cash dividends, loans or advances from OBS and INSW is restricted under their respective facilities. The Available Amount for cash dividends, loans or advances to the Parent Company permitted under the OBS Term Loan and INSW Term Loan was $0 and $30,200 , respectively, as of September 30, 2016, after OBS’ and INSW’s dividend distributions to the Parent Company of $51,295 and $102,000 during the nine months then ended. INSW’s additional $100,000 dividend distribution to OSG, pursuant to the Third INSW Credit Agreement Amendment described above, does not impact the Available Amount. The INSW Facilities have a covenant to maintain the aggregate Fair Market Value (as defined in the loan agreement for the INSW Facilities) of the Collateral Vessels at greater than or equal to $500,000 at the end of each fiscal quarter. The Company had substantial headroom under this covenant at September 30, 2016. None of the other Exit Financing Facilities have financial covenants.  The OBS ABL Facility matures on February 5, 2019. However, to the extent that any of the 8.125% notes due 2018 are outstanding on December 29, 2017, the maturity date of the OBS ABL Facility will be December 29, 2017. Interest expense, including amortization of issuance and deferred financing costs (for additional information related to deferred financing costs see Note 3, “Significant Accounting Policies”), commitment, administrative and other fees for the three months ended September 30, 2016 was $16,907 for the Exit Financing Facilities, comprised of $7,695 relating to the OBS Term Loan and OBS ABL Facility and $9,212 relating to the INSW Facilities. Interest expense for the three month period ended September 30, 2015 was $20,365 for the Exit Financing Facilities, comprised of $9,352 relating to the OBS Term Loan and OBS ABL Facility and $11,013 relating to the INSW Facilities. Interest expense for the nine-month period ended September 30, 2016 was $54,316 for the Exit Financing Facilities, comprised of $24,828 relating to the OBS Term Loan and OBS ABL Facility and $29,488 relating to the INSW Facilities. Interest expense for the nine-month period ended September 30, 2015 was $59,997 for the Exit Financing Facilities, comprised of $28,174 relating to the OBS Term Loan and OBS ABL Facility and $31,823 relating to the INSW Facilities.  Interest paid for the three months ended September 30, 2016 was $6,560 and $8,471 for the OBS Term Loan and the INSW Term Loan, respectively, and interest paid for the three months ended September 30, 2015 was $8,022 and $9,155 for the OBS Term Loan and the INSW Term Loan, respectively. Interest paid for the nine months ended September 30, 2016 was $21,685 and $26,097 for the OBS Term Loan and the INSW Term Loan, respectively, and interest paid for the nine months ended September 30, 2015 was $23,863 and $27,236 for the OBS Term Loan and the INSW Term Loan, respectively. During the nine months ended September 30, 2016, the Company made repurchases in the open market and optional and mandatory principal prepayments under the OBS Term Loan and INSW Term Loan as follows:    Loan Facility Optional / Mandatory Prepayments Open Market Repurchases Total  OBS Term Loan $ 91,295 $ 27,000 $ 118,295  INSW Term Loan 83,832 68,922 152,754  Total $ 175,127 $ 95,922 $ 271,049  The aggregate net loss of $1,410 realized on these transactions during the nine months ended September 30, 2016 is included in other income in the condensed consolidated statements of operations. The net loss reflects a $8,580 write-off of unamortized original issue discount and deferred financing costs associated with the principal reductions, which were treated as partial extinguishments. Third party legal and consulting fees (aggregating approximately $302 ) incurred by the Company in relation to the open market repurchases are included in general and administrative expenses in the condensed consolidated statements of operations for the nine months ended September 30, 2016.   Unsecured Senior Notes During the nine months ended September 30, 2016, the Company repurchased and retired an aggregate principal amount of $294 of its 7.5% notes due 2024 and $37,345 of its 8.125% notes due 2018. The aggregate loss of $2,463 realized on these transactions during the nine months ended September 30, 2016, is included in other income in the condensed consolidated statements of operations. The net loss reflects a $784 write-off of unamortized deferred finance costs associated with the repurchased debt. For the three months ended September 30, 2016 and 2015, interest expense, including administrative and other fees, of $2,802 and $8,636 , respectively, was recorded relating to the Unsecured Senior Notes, respectively. For the nine months ended September 30, 2016 and 2015, interest expense, including administrative and other fees, of $8,385 and $26,460 , respectively, was recorded relating to the Unsecured Senior Notes. For the three months ended September 30, 2016 and 2015, interest paid relating to the Unsecured Senior Notes was $4,695 and $17,755 and $9,564 and $35,720 during the nine months ended September 30, 2016 and 2015, respectively.

Taxes

Taxes	9 Months Ended
	Sep. 30, 2016
Taxes [Abstract]
Taxes	Note 11 — Taxes:  For the three months ended September 30, 2016 and 2015, the Company recorded income tax benefits of $49,775 and $120,737 , respectively, which represents effective tax rates of 34% and (229)% , respectively. For the nine months ended September 30, 2016 and 2015, the Company recorded income tax benefits of $1,288 and $114,548 , respectively, which represent effective tax rates of 7% and (72)% , respectively. The change in the effective tax rate s for the 2016 periods compared with the 2015 periods is primarily a result of the tax benefit of $150,073 resulting from the 2015 Pre-Filing Agreement with the Internal Revenue Service recorded during the three and nine months ended September 30, 2015. In addition, since September 30, 2015, the Company has recorded a deferred tax liability of the excess of its investment in INSW over the tax basis of such investment. For the three months ended September 30, 2016 and 2015, this resulted in a tax benefit of $15,319 and a provision of $30,997 , respectively. For the nine months ended September 30, 2016 and 2015, this resulted in tax provisions of $16,558 and $30,997 , respectively. The amounts for the three and nine months ended September 30, 2016 reflect the impact of the International Flag vessel impairments recorded in the third quarter of 2016. As of September 30, 2016 and December 31, 2015, the Company recorded a noncurrent reserve for uncertain tax positions of $2,556 and $2,520 , respectively, after taking into consideration tax attributes, such as net operating loss carryforwards, and accrued interest of $738 and $702 , respectively. As of September 30, 2016, the Company has recorded a deferred tax liability of approximately $65,414 related to the excess of OSG’s investment in INSW for financial reporting purposes over the tax basis of such investment, as management does not believe that it can make an assertion that OSG’s investment in INSW is essentially permanent in duration. The Internal Revenue Service has commenced a tax examination for the years 2012 through 2014, as a result of the refund claim of $54,884 , which was received in the fourth quarter of 2015, from the carryback of the 2014 net operating loss to 2012 and 2013. 

Capital Stock and Stock Compens

Capital Stock and Stock Compensation	9 Months Ended
	Sep. 30, 2016
Capital Stock and Stock Compensation [Abstract]
Capital Stock and Stock Compensation	Note 12 — Capital Stock and Stock Compensation: Change in Capital Structure On May 13, 2016, all holders of Class B common stock and Class B warrants as of May 9, 2016 received a distribution from the Company representing their pro-rata share of the Net Litigation Recovery (see Note 2, “Chapter 11 Filing and Emergence from Bankruptcy”). On May 27, 2016, pursuant to the Company’s Amended and Restated Certificate of Incorporation, and the warrant agreement governing the Class B warrants, each Class B common share and Class B warrant automatically converted to a Class A common share and Class A warrant, respectively. On June 2, 2016, the Board authorized the Company to take action to transfer the listing of its Class A common stock to the New York Stock Exchange from the NYSE MKT (the “Transfer”). In conjunction with the Transfer, the Board approved the Reverse Split Amendment to the Company’s Amended and Restated Certificate of Incorporation. The Reverse Split Amendment effected a one (1) for six (6) reverse stock split and corresponding reduction of the number of authorized shares of Class A common stock and Class B common stock, par value $0.01 per share. On June 7, 2016, the Company filed the Reverse Split Amendment with the Secretary of State of the State of Delaware. The Reverse Split Amendment became effective on June 13, 2016. As previously reported, the Company’s stockholders approved the filing of the Reverse Split Amendment at the Company’s annual meeting of stockholders held on June 9, 2015. The Transfer was approved by the New York Stock Exchange on June 23, 2016. All of the share and per share information below has been recast to reflect the impact of the reverse stock split. Holders of the Company’s outstanding Class A warrants are entitled to receive, upon exercise, 0.190 shares of Class A common stock per warrant exercised, in order to account for the impact of the reverse stock split. The Incentive Plans described below contain anti-dilution provisions whereby in the event of any change in the capitalization of the Company, the number and type of securities underlying outstanding awards must be adjusted, as appropriate, in order to prevent dilution or enlargement of rights. The impact of these provisions resulted in a modification of all outstanding awards upon the reverse stock split. As the fair value of the awards immediately before and after the modification did not change, no additional compensation was recognized as a result of such modification . Share and Warrant Repurchases  During the nine months ended September 30, 2016, the Company repurchased 106,350 shares of its Class A common stock in open-market purchases on the NYSE MKT at an average price of $12.23 per share, for a total cost of $1,301 . In addition, during the nine months ended September 30, 2016, the Company repurchased 55,306,351 Class A warrants in private transactions with non-affiliates at an average per share equivalent cost of $11.31 for a total cost of $118,041 .  In connection with the vesting of restricted stock units in January, March, April and September 2016, the Company repurchased 25,885 shares of Class A common stock at an average cost of $14.06 per share (based on the market prices on the dates of vesting) from certain members of management to cover withholding taxes.  Warrant Conversions During the nine months ended September 30, 2016, the Company issued 8,164,351 shares of Class A common stock and 7,833 shares of Class B common stock as a result of the exercise of 43,395,528 Class A warrants and 46,997 Class B warrants, respectively. During the nine months ended September 30, 2015, the Company issued 158,320 shares of Class A common stock and 427,972 shares of Class B common stock as a result of the exercise of 866,086 Class A warrants and 2,339,934 Class B warrants, respectively. Stock Compensation The Company accounts for stock compensation expense in accordance with the fair value based method required by ASC 718, Compensation – Stock Compensation . Such fair value based method requires share based payment transactions to be measured based on the fair value of the equity instruments issued.  Director Compensation — Restricted Common Stock  The Company awarded a total of 65,769 restricted Class A common stock shares during the nine months ended September 30, 2016 to its non-employee directors. The weighted average grant date fair value of the Company’s stock on the measurement date of such awards was $11.86 per share. Such restricted shares awards vest in full on the earlier of the next annual meeting of the stockholders or June 8, 2017, subject to each director continuing to provide services to the Company through such date. The restricted share awards granted may not be transferred, pledged, assigned or otherwise encumbered prior to vesting. Prior to the vesting date, a holder of restricted share awards otherwise has all the rights of a shareholder of the Company, including the right to vote such shares and the right to receive dividends paid with respect to such shares at the same time as common shareholders generally.  Management Compensation — Restricted Stock Units and Stock Options During the nine months ended September 30, 2016, the Company granted 276,103 time-based restricted stock units (“RSUs”) to its senior officers. The average grant date fair value of these awards was $12.31 per RSU. Each RSU represents a contingent right to receive one share of Class A common stock upon vesting. Each award of RSUs will vest in equal installments on each of the first three anniversaries of the grant date.  During the nine months ended September 30, 2016, the Company awarded 119,853 performance-based RSUs to its senior officers. Each performance stock unit represents a contingent right to receive RSUs based upon the covered employees being continuously employed through the end of the period over which the performance goals are measured and shall vest as follows: (i) one-third of the target RSUs shall vest on December 31, 2018, subject to OSG’s three-year earnings per share (“EPS”) performance in the three-year EPS performance period relative to a compounded annual growth rate (the “EPS Target”) set forth in the award agreements; (ii) one-third of the target RSUs shall vest on December 31, 2018, subject to OSG’s return on invested capital (“ROIC”) performance in the three-year ROIC performance period relative to a target rate (the “ROIC Target”) set forth in the award agreements; and (iii) one-third of the target RSUs will be subject to OSG’s three-year total shareholder return (“TSR”) performance relative to that of a performance peer group over a three-year TSR performance period (“TSR Target”). Vesting is subject in each case to the Human Resources and Compensation Committee’s certification of achievement of the performance measures and targets no later than March 31, 2019. The EPS Target and ROIC Target are performance conditions which, as of September 30, 2016, management believes, are not yet considered probable of being achieved. Accordingly, for financial reporting purposes, no compensation costs will be recognized for these awards until it becomes probable that the performance conditions will be achieved. The grant date fair value of the TSR based performance awards, which has a market condition, was determined to be $11.82 per RSU. In addition, during the nine months ended September 30, 2016, the Company granted 38,547 performance-based RSUs (which represented the 2016 tranche of the awards made on October 12, 2015) to certain members of senior management. The grant date fair value of the performance awards was determined to be $11.82 per RSU. Each performance stock unit represents a contingent right to receive RSUs based upon certain performance related goals being met and the covered employees being continuously employed through the end of the period over which the performance goals are measured. These performance awards will vest on December 31, 2016, subject in each case to the Human Resources and Compensation Committee’s certification of achievement of the performance measures and targets no later than March 31, 2017. Achievement of the performance condition in this award is considered probable and accordingly, compensation cost has been recognized commencing on March 30, 2016, the grant date of the award. There have been no changes in the probability of the achievement of the performance conditions as of September 30, 2016.  During the nine months ended September 30, 2016, the Company awarded to certain senior officers an aggregate of 449,689 stock options. Each stock option represents an option to purchase one share of Class A common stock for an exercise price that ranged between $11.82 and $12.69 per share. The average grant date fair value of the options was $4.83 per option. Stock options may not be transferred, pledged, assigned or otherwise encumbered prior to vesting. Each stock option will vest in equal installments on each of the first three anniversaries of the award date. The stock options expire on the business day immediately preceding the tenth anniversary of the award date. If a stock option grantee’s employment is terminated for cause (as defined in the applicable Form of Grant Agreement), stock options (whether then vested or exercisable or not) will lapse and will not be exercisable. If a stock option grantee’s employment is terminated for reasons other than cause, the option recipient may exercise the vested portion of the stock option but only within such period of time ending on the earlier to occur of (i) the 90th day ending after the option recipient’s employment terminated and (ii) the expiration of the options, provided that if the Optionee’s employment terminates for death or disability the vested portion of the option may be exercised until the earlier of (i) the first anniversary of employment termination and (ii) the expiration date of the options .  On July 29, 2016, Mr. Henry Flinter retired from his position as President of the Company’s U.S. Flag operations. Pursuant to his employment agreement, as amended on March 30, 2016, all of his unvested stock option awards, time-based RSUs and performance-based RSUs vested in full (per the terms of his agreement, performance-based RSUs vested at target performance) on July 29, 2016. The incremental compensation expense recognized as a result of the accelerated vesting and the difference between the grant date fair value of the vested shares and the fair value of the Company’s Class A common stock on July 29, 2016 was approximately $23 . The Human Resources and Compensation Committee of the Company ’s Board elected to settle the vested equity awards (with the exception of certain performance-based RSUs that by their terms are not settled until the first quarter of 2018) in cash. Severance costs of approximately $2,238 were recognized during the quarter in relation to Mr. Flinter’s separation from the Company, of which $820 was as a result of the accelerated vesting of his share based compensation awards.   

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Note 1 3 — Accumulated Other Comprehensive Loss: The components of accumulated other comprehensive loss, net of related taxes, in the condensed consolidated balance sheets follow:    September 30, December 31,  As of 2016 2015  Unrealized losses on derivative instruments $ (55,763) $ (54,620)  Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement benefit plans) (17,492) (18,841)  $ (73,255) $ (73,461)  The changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, during the three and nine months ended September 30, 2016 and 2015 follow:     Unrealized losses on cash flow hedges Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans) Total   Balance as of June 30, 2016 $ (62,092) $ (17,842) $ (79,934)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss 2,267 350 2,617  Amounts reclassified from accumulated other comprehensive loss 4,062 - 4,062  Total change in accumulated other comprehensive loss 6,329 350 6,679  Balance as of September 30, 2016 $ (55,763) $ (17,492) $ (73,255)   Balance as of June 30, 2015 $ (56,710) $ (22,111) $ (78,821)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (10,383) 470 (9,913)  Amounts reclassified from accumulated other comprehensive loss 4,522 - 4,522  Total change in accumulated other comprehensive loss (5,861) 470 (5,391)  Balance as of September 30, 2015 $ (62,571) $ (21,641) $ (84,212)    Unrealized losses on cash flow hedges Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans) Total   Balance as of December 31, 2015 $ (54,620) $ (18,841) $ (73,461)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (13,484) 1,349 (12,135)  Amounts reclassified from accumulated other comprehensive loss 12,341 - 12,341  Total change in accumulated other comprehensive loss (1,143) 1,349 206  Balance as of September 30, 2016 $ (55,763) $ (17,492) $ (73,255)   Balance as of December 31, 2014 $ (61,547) $ (21,833) $ (83,380)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (14,776) 192 (14,584)  Amounts reclassified from accumulated other comprehensive loss 13,752 - 13,752  Total change in accumulated other comprehensive loss (1,024) 192 (832)  Balance as of September 30, 2015 $ (62,571) $ (21,641) $ (84,212)   Amounts reclassified out of each component of accumulated other comprehensive loss follow:     Three Months Ended  September 30,  Accumulated Other Comprehensive Loss Component 2016 2015 Statement of Operations Line Item   Unrealized losses on cash flow hedges:  Interest rate swaps entered into by the Company's Equity in income of  equity method joint venture investees $ (3,804) $ (4,522) affiliated companies   Interest rate caps entered into by the Company's subsidiaries (258) - Interest expense  $ (4,062) $ (4,522) Total before and net of tax     Nine Months Ended  September 30,  Accumulated Other Comprehensive Loss Component 2016 2015 Statement of Operations Line Item   Unrealized losses on cash flow hedges:  Interest rate swaps entered into by the Company's Equity in income of  equity method joint venture investees $ (11,949) $ (13,752) affiliated companies   Interest rate caps entered into by the Company's subsidiaries (392) - Interest expense  $ (12,341) $ (13,752) Total before and net of tax  See Note 9 , “Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures,” for additional disclosures relating to derivative instruments.  The income tax expense/(benefit) allocated to each component of other comprehensive loss follows:     Unrealized gains/(losses) on cash flow hedges Items not yet recognized as a component of net periodic benefit cost  For the three months ended September 30, 2016:  Current period change excluding amounts reclassified from  accumulated other comprehensive loss $ (36) $ -  Amounts reclassified from accumulated other  comprehensive loss - -  Total change in accumulated other comprehensive loss $ (36) $ -   For the three months ended September 30, 2015:  Current period change excluding amounts reclassified from  accumulated other comprehensive loss $ 117 $ -  Amounts reclassified from accumulated other  comprehensive loss - -  Total change in accumulated other comprehensive loss $ 117 $ -   For the nine months ended September 30, 2016:  Current period change excluding amounts reclassified from  accumulated other comprehensive loss $ (18) $ -  Amounts reclassified from accumulated other  comprehensive loss - -  Total change in accumulated other comprehensive loss $ (18) $ -   For the nine months ended September 30, 2015:  Current period change excluding amounts reclassified from  accumulated other comprehensive loss $ 542 $ -  Amounts reclassified from accumulated other  comprehensive loss - -  Total change in accumulated other comprehensive loss $ 542 $ - 

Leases

Leases	9 Months Ended
	Sep. 30, 2016
Leases [Abstract]
Leases	 Note 14 — Leases: 1. Charters-in: As of September 30, 2016, the Company had commitments to charter in 17 vessels. All of the charters-in are accounted for as operating leases, of which 13 are bareboat charters and four are time charters. Lease expense relating to charters-in is included in charter hire expenses in 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 September 30, 2016 Amount Operating Days  2016 $ 24,822 1,196  2017 98,219 4,713  2018 93,200 3,929  2019 111,819 3,470  2020 9,168 366  Thereafter 41,007 1,637  Net minimum lease payments $ 378,235 15,311     Time Charters-in:   At September 30, 2016 Amount Operating Days  2016 $ 7,727 712  2017 14,571 1,354  2018 730 152  Net minimum lease payments $ 23,028 2,218 The future minimum commitments for time charters-in excludes amounts with respect to vessels chartered-in where the duration of the charter was one year or less at the inception but includes amounts with respect to workboats employed in the International Crude Tankers Lightering business. Time charter-in commitments 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 bareboat charters-in provide for the payment of profit share to the owners of the vessels calculated in accordance with the respective charter agreements. Because such amounts and the periods impacted are not reasonably estimable they are not currently reflected in the table above. Due to reserve funding requirements and current rate forecasts, no profits are currently expected to be paid to the owners in respect of the charter term through December 31, 2019. 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 September 30, 2016 Amount Revenue Days  2016 $ 113,897 2,622  2017 268,422 5,298  2018 147,905 2,098  2019 78,508 938  2020 43,766 532  Thereafter 134,843 1,575  Net minimum lease payments $ 787,341 13,063  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, $ 6,194 (2016), $23,015 (2017), $22,698 (2018), $23,031 (2019) and $6,356 (2020), 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.  3. Office Space:  During the nine months ended September 30, 2016, the Company entered into a 60-month lease agreement for office space for its New York headquarters. Future annual minimum lease payments will be approximately $998 .

Contingencies

Contingencies	9 Months Ended
	Sep. 30, 2016
Contingencies [Abstract]
Contingencies	Note 1 5 — Contingencies: The Company’s policy for recording legal costs related to contingencies is to expense such legal costs as incurred. 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 Equity Plan, which became effective on August 5, 2014. Under the terms of that settlement, the Equity Plan provides for full satisfaction of the claims of the putative class through (i) $7,000 in cash, which was paid on August 5, 2014, ( ii) $3,000 in cash, which was paid by the Company on August 5, 2015, (iii) any remaining cash in the Class E1 Disputed Claims Reserve established by the Equity Plan following resolution of all other Class E1 claims, which was paid on October 5, 2015, (iv) 15% (or $2,136 ) of the Net Litigation Recovery in the action against Proskauer (described below), which was paid on April 5, 2016, (v) $5,000 in cash, following the entry of a final order resolving the Proskauer action, which was paid on March 17, 2016, and (vi) proceeds of any residual interest the Company has in certain director and officer insurance policies. 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 alleged 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 asserted claims under the Securities Act against all defendants and claims under the Securities Exchange Act of 1934 (the “Exchange Act”) against the then former President and former Chief Financial Officer of the Company. Following additional amendments on plaintiffs’ Exchange Act claims and motion to dismiss briefing, on April 28, 2014, the Southern District denied the motion to dismiss the Exchange Act claims filed by the then former President and former Chief Financial Officer on the third amended complaint. On March 18, 2015, OSG’s former independent registered public accounting firm moved for summary judgment and on May 29, 2015, the Southern District issued an order granting that motion. On July 1, 2015, the plaintiffs noticed an appeal of that order to the U.S. Court of Appeals for the Second Circuit. On September 2, 2015, the plaintiffs and OSG’s former independent registered public accounting firm filed a stipulation withdrawing that appeal with prejudice. On August 6, 2015, the plaintiffs moved for the Southern District to preliminarily approve settlements with respect to all of the plaintiffs’ remaining claims, including settlements with former officers and directors of the Company, the Company’s former underwriters, and the Company’s current independent registered public accounting firm that contemplate payments of $10,500 , $4,000 and $1,750 , respectively, on behalf of such defendants. On August 12, 2015, the Southern District preliminarily approved those settlements, and on December 2, 2015, entered orders that (a) certified the proposed class for settlement purposes, (b) approved a plan of allocation for distribution of settlement proceeds, (c) finally approved those settlements, and (d) entered final orders of judgment dismissing the remaining defendants from the action. 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 Equity 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. Each of those indemnification claims, asserted by certain former directors and officers of the Company, have been released pursuant to the Equity Plan or otherwise resolved by the Reorganized Debtors. In addition, the indemnification claims asserted by the Company’s former underwriters have been resolved and paid pursuant to the orders of the Bankruptcy Court and the Equity Plan. On October 5, 2015, following the resolution of all disputed Class E1 claims, the Reorganized Debtors disbursed the remaining funds in the Disputed Claims Reserve for Class E1 to representatives of the putative class in accordance with the Equity Plan and Confirmation Order The Equity Plan and orders of the Bankruptcy Court foreclose the defendants in the Southern District from pursuing any other or further remedies against the Company. Proskauer Action On February 23, 2014, Proskauer and four of its partners (the “Proskauer Plaintiffs”) filed an action in the Supreme Court of the State of New York, County of New York (the “Supreme Court”) against the then Senior Vice President, General Counsel and Secretary and the former Chief Financial Officer alleging that the defendants engaged in tortious and fraudulent conduct that caused significant harm to the Proskauer Plaintiffs and the Company. The Proskauer Plaintiffs alleged 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 the Proskauer Plaintiffs filed motions to dismiss the action. On June 9, 2014, the Proskauer 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 Proskauer Plaintiffs’ amended complaint. On January 15, 2015, the Supreme Court dismissed the Proskauer Plaintiffs’ amended complaint in its entirety against the defendants. On March 2, 2015, the Proskauer Plaintiffs filed a notice of appeal of the Supreme Court’s decision to the Appellate Division of the Supreme Court, First Department (the “Appellate Court”). Proskauer filed its appellant’s brief on August 17, 2015. The appellees filed their response briefs on October 30, 2015 and Proskauer filed its reply brief on November 13, 2015. On February 12, 2016, as part of the settlement agreement between the Company and Proskauer and four of its partners, the Proskauer Plaintiffs agreed to withdraw their appeal of the Supreme Court’s dismissal of the amended complaint against the defendants and on March 31, 2016, the Appellate Court dismissed the appeal. 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. On April 11, 2014, Proskauer and four of its partners filed a motion to dismiss the malpractice action, and on September 10, 2014, the Supreme Court denied the motion to dismiss the legal malpractice claim for breach of duty of care but granted the motion to dismiss the legal malpractice claim for breach of duty of loyalty as subsumed within the duty of care claim. Proskauer and four of its partners appealed this decision to the Appellate Division of the Supreme Court, First Department and on July 2, 2015, the appellate court affirmed the Supreme Court’s denial of Proskauer’s motion to dismiss. In addition, on December 3, 2014, the Company filed a motion with the Supreme Court for partial summary judgment on whether the “joint and several” liability provisions of certain of the Company’s prior loan agreements, which are the focus of the malpractice action, are unambiguous as a matter of law. The Supreme Court denied that motion as being procedurally premature on July 24, 2015.  On May 20, 2015, the Supreme Court issued a scheduling order for discovery in the Company’s malpractice action against Proskauer. Under the terms of that scheduling order, all discovery was to be completed by April 15, 2016. On October 16, 2015, the parties agreed to extend the deadline for all discovery to be completed to August 1, 2016, and the Court issued a revised scheduling order.  On February 12, 2016, the Company entered into an agreement with Proskauer and four of its partners to settle the malpractice suit. See Note 2, “Chapter 11 Filing and Emergence from Bankruptcy,” for additional information.  On March 3, 2016, pursuant to the settlement agreement with Proskauer, the Supreme Court entered an order discontinuing the Proskauer action with prejudice, which order has become final and nonappealable.  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 Equity Plan provides for funding for potential liabilities that the SEC may assert in connection with its proof of claim (the “SEC Claim”) to the extent that the SEC Claim is allowed. 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 Equity Plan, the Debtors will fund a cash 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. This reserve was established in recognition of the fact that the SEC had not completed its investigation prior to the Equity Plan’s confirmation. Pursuant to the Bankruptcy Court’s orders, this reserve is the sole source available for satisfaction of any penalties or other amounts asserted in relation to the SEC’s proof of claim. As noted above, any indemnification or contribution claims by officers or directors of the Company that could be asserted in connection with the SEC’s investigation have been released or otherwise resolved pursuant to the Equity Plan and order of the Bankruptcy Court.  On July 25, 2016, the staff of the SEC provided a “Wells Notice” to the Company’s counsel in connection with the above-referenced investigation, advising that the staff had made a preliminary determination to recommend that the Commission file an enforcement action against the Company. The Wells Notice indicates that such an action would allege violations of Section 17(a) of the Securities Act of 1933, Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934 ("Exchange Act"), and Exchange Act Rules 10b-5, 12b-20, 13a-1, 13a-11, and 13a-13. The Wells Notice further indicates that the Staff’s recommendation may involve a civil injunctive action, public administrative proceeding, and/or cease-and-desist proceeding, and may seek remedies including an injunction, a cease-and-desist order, disgorgement, pre-judgment interest and civil monetary penalties. The Company disagrees with the Staff’s preliminary conclusions. The Company is in the process of responding to the Wells Notice.  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 (including without limitation exposure to asbestos and other toxic materials), wrongful death, collision or other casualty and to claims arising under charter parties. A substantial majority of such personal injury, wrongful death, 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, are not expected to be material to the Company’s financial position, results of operations and cash flows.   

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 16 — Subsequent Events:  On November 8, 2016 , OSG announced that the record date for the previously announced spin-off of its International flag business – INSW – will be November 1 8 , 2016. The spin-off is expected to be effective as of 5:00 p.m. on November 30, 2016, the distribution date for the spin-off, with 100 percent of the shares of INSW distributed to OSG shareholders and warrantholders. The spin-off and the distribution of INSW common stock is subject to the SEC having declared effective INSW’s registration statement on Form 10. In addition, the spin-off is subject to conditions set forth in a Separation and Distribution Agreement between OSG and INSW, the form of which is filed as an exhibit to INSW’s registration statement on Form 10. 

Significant Accounting Polici26

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Significant Accounting Policies [Abstract]
Cash and cash equivalents	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. Management has designated cash reserves of $5,572 and $10,583 as of September 30, 2016 and December 31, 2015, respectively, to be utilized for the settlement of certain unsecured claims related to the Company’s emergence from bankruptcy. Such cash reserves, which are considered restricted cash due to management’s intent regarding these funds, are included in restricted cash in the current assets section of the condensed consolidated balance sheet based on management’s estimate of when these funds are likely to be disbursed. Such restricted cash reserves will be subject to adjustment based upon the settlement of claims. Additionally, restricted cash as of December 31, 2015 included $8,989 of legally restricted cash relating to the INSW Facilities (as defined in Note 10, “Debt”). Such restricted cash reserves were included in the non-current assets section of the condensed consolidated balance sheet at December 31, 2015. Activity relating to restricted cash is reflected in investing activities in the condensed consolidated statements of cash flow.
Deferred finance charges	Deferred finance charges — Finance charges incurred in the arrangement and amendment of debt are deferred and amortized to interest expense on either an effective interest method or straight-line basis over the life of the related debt. Unamortized deferred finance charges of $2,771 and $2,922 relating to the OBS ABL Facility and INSW Revolver Facility (each, as defined in Note 10, “Debt”) are included in other assets in the condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015, respectively. Unamortized deferred financing charges of $33,388 and $41,020 relating to the OBS Term Loan and INSW Term Loan (each, as defined in Note 10, “Debt”) and $1,676 and $3,523 relating to the Unsecured Senior Notes are included in long-term debt (reflecting the adoption of ASU No. 2015-03 discussed below) in the condensed consolidated balance sheets as of September 30, 2016 and December 31, 2015, respectively. Interest expense relating to the amortization of deferred financing charges amounted to $2,897 and $8,936 for the three and nine months ended September 30, 2016, respectively, and $2,763 and $7,634 for the three and nine months ended September 30, 2015, respectively.
Concentration of Credit Risk	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 nine month periods ended September 30, 2016 and 2015, 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 in aggregate for 70% and 77% of consolidated voyage receivables at September 30, 2016 and December 31, 2015, respectively.
Vessels Lives	Vessel Lives —The carrying value of each of the Company’s vessels represents its original cost at the time it was delivered or purchased less depreciation calculated using estimated useful lives from the date such vessel was originally delivered from the shipyard or from the date (as in the case of certain of the Company’s ATBs) a vessel was rebuilt. A vessel’s carrying value is reduced to its new cost basis (i.e., its current fair value) if a vessel impairment charge is recorded.  If the estimated economic lives assigned to the Company’s vessels prove to be too long because of new regulations, the continuation of weak markets, the broad imposition of age restrictions by the Company’s customers, or other future events, it could result in higher depreciation expense and impairment losses in future periods related to a reduction in the useful lives of any affected vessels. In evaluating various impairment indicators that existed at September 30, 2016 (See Note 6, “Vessels”), management currently believes that the Company will scrap seven of its rebuilt ATBs prior to their current estimated disposal date. Accordingly, the remaining useful lives for such ATBs will be adjusted on a prospective basis beginning on October 1, 2016. This reduction in useful lives is expected to reduce the decrease in depreciation expense attributable to the ATB vessel impairments discussed in Note 6, “Vessels ,” by approximately $ 2,200 per quarter for the U.S. Flag segment and on a consolidated basis.
Impairment of long-lived assets	Impairment of long-lived asset s —The carrying amounts of long-lived assets held and used by the Company are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a particular asset may not be fully recoverable. In such instances, an impairment charge would be recognized if the estimate of the undiscounted future cash flows expected to result from the use of the asset and its eventual disposition is less than the asset’s carrying amount. This assessment is made at the individual vessel level since separately identifiable cash flow information for each vessel is available. The impairment charge, if any, would be measured as the amount by which the carrying amount of a vessel exceeded its fair value. A long-lived asset impairment charge results in a new cost basis being established for the relevant long-lived asset. During the quarter ended September 30, 2016, management determined that certain of the Company’s International Flag and U.S. Flag vessels were impaired. Accordingly, those assets were written down to their estimated fair values at September 30, 2016. See Note 6, “Vessels” for further discussion on the impairment tests performed on certain of our International Flag and U.S. Flag vessels at September 30, 2016.
Intangible assets	Intangible assets —Intangible assets with estimable useful lives are amortized over their estimated useful lives and are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of the intangible may be impaired. The Company’s intangible assets at September 30, 2016 consisted of long-term customer relationships acquired as part of the 2006 purchase of Maritrans, Inc. (a component of the U.S. Flag business segment). The long-term customer relationships asset is being amortized on a straight-line basis over 20 years. As discussed in Note 6, “Vessels,” during the quarter ended September 30, 2016, the Company identified changes in circumstances that were indicative of a continued weakening of the Jones Act market. Such indicators included a decline in the number of Jones Act tank vessels transporting crude oil, which led to (i) increased competition for clean cargoes and the idling of some Jones Act vessels; (ii) a sharp decrease in estimated spot rates for Jones Act Product Carriers and large ATBs between July and September 2016; and (iii) a significant decline in forecasted near term TCE rates reported by a leading third party industry analyst . These factors were determined to be triggering events warranting an interim impairment test of the $46,767 carrying value of the customer relationships intangible asset. As there can be significant overlap between the customers served by each of the Company’s U.S. Flag vessel types, the U.S. Flag business as a whole was determined to be the lowest level at which cash flows are largely independent of the cash flows of other groups of assets and liabilities for purposes of testing the U.S. Flag customer relationship intangible asset for recoverability. T he Company reduced its estimates of undiscounted future cash flows from the U.S. Flag business segment to reflect consideration of the above new factors. Based on the results of the recoverability test performed, no impairment was recorded as of September 30, 2016 as the net cash flows from the asset group were in excess of the carrying value of the asset group.
Income taxes	Income Taxes —The Company’s quarterly income tax provision 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, the Company estimates the annual effective tax rate based on projected taxable income for the full year and records a quarterly tax provision or benefit 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.
Recently adopted / issued accounting standards	Recently Adopted Accounting Standards In April 2015, the FASB issued ASU No. 2015-03, Simplifying the Presentation of Debt Issuance Costs (ASC 835 ), which amends the requirement to recognize debt issuance costs as deferred charges. The amendment requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying cost of that debt liability, consistent with debt discounts. The amendments are effective for public companies for annual periods and interim periods within those annual periods beginning after December 15, 2015. The Company adopted this accounting standard on January 1, 2016 and has applied the guidance retrospectively. The impact of the retrospective adoption on the Company’s December 31, 2015 balance sheet are reductions of both other assets and long-term debt by $44,543.  Recently Issued Accounting Standards In August 2016, the FASB issued ASU 2016-15, Classification of Certain Cash Receipts and Cash Payments (ASC 230) , which amends the guidance in ASC 230 on the classification of certain cash receipts and payments in the statement of cash flows. The primary purpose of the ASU is to reduce the diversity in practice that has resulted from the lack of consistent principles on this topic with respect to (1) debt prepayment or debt extinguishment costs; (2) settlement of zero-coupon debt; (3) contingent consideration payments made after a business combination; (4) proceeds from the settlement of insurance claims; (5) proceeds from the settlement of corporate-owned life insurance policies; (6) distributions received from equity method investees; (7) beneficial interests in securitization transactions; and (8) separately identifiable cash flows and application of the predominance principle. The standard will be effective for interim and annual periods beginning after December 31, 2017 and early adoption is permitted. The guidance requires application using a retrospective transition method. Management is currently reviewing the impact of the adoption of this accounting standard on the Company’s consolidated financial statements.  In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting (ASC 718) , which simplifies several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, classification of awards as either equity or liabilities, and classification in the statement of cash flows. The standard will be effective for annual periods beginning after December 31, 2016 and interim periods within that reporting period. Management is currently reviewing the impact of the adoption of this accounting standard on the Company’s consolidated financial statements.  In February 2016, the FASB issued ASU No. 2016-02, Leases (ASC 842) , which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. Management is analyzing the impact of the adoption of this guidance on the Company’s 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. Management expects that the Company will recognize substantial increases in reported amounts for property, plant and equipment and related lease liabilities upon adoption of the new standard.  In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (ASC 205) , which explicitly requires management to assess an entity’s ability to continue as a going concern and disclose going concern uncertainties in connection with each annual and interim period. The new standard requires management to assess if there is substantial doubt about an entity’s ability to continue to meet its obligations within one year after the reporting date based upon management’s consideration of relevant conditions that are known (and reasonably knowable) at the issuance date. The new standard defines substantial doubt and provides example indicators. Disclosures will be required if conditions give rise to substantial doubt. However, management will need to assess if its plans will alleviate substantial doubt to determine the specific disclosures. The new standard will be effective for all entities in the first annual period ending after December 15, 2016. Earlier application is permitted. Management does not expect the adoption of this accounting standard to have any impact on the Company’s consolidated financial statements.  In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 6 06) to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. Subsequent to the May 2014 issuance, several clarifications and updates have been issued on this topic. 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 FASB subsequently delayed the effective date of the revenue standard by one year. For public companies, the revenue standard is effective for the first interim period within annual reporting periods beginning after December 15, 2017. Reporting entities may choose to adopt the standard as of the original effective date. The requirements of this standard include an increase in required disclosures. Management has not yet selected a transition method and is currently analyzing the impact of the adoption of this guidance on the Company’s 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. 

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2016
Basis of Presentation [Abstract]
Schedule of Weighted Average Number of Shares	The table below shows the effects of the stock dividend and the Reverse Split on the calculation of per share amounts previously reported in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2015:    Three Months Ended Nine Months Ended  September 30, 2015 September 30, 2015  (unaudited) (unaudited)  Decrease in weighted average number of shares outstanding used to calculate basic net income per share amounts for Class A (477,948,757) (425,043,175)   Decrease in weighted average number of shares outstanding used to calculate diluted net income per share amounts for Class A (477,996,214) (425,112,083)   Decrease in weighted average number of shares outstanding used to calculate basic and diluted net income per share amounts for Class B (6,600,472) (6,602,295)   Change in net income per share - basic and diluted Class A and B $ 1.49 $ 2.31  Dollar amounts, except per share amounts are in thousands.

Chapter 11 Filing and Emergen28

Chapter 11 Filing and Emergence from Bankruptcy (Tables)	9 Months Ended
	Sep. 30, 2016
Chapter 11 Filing and Emergence from Bankruptcy [Abstract]
Schedule of Reorganization Items Net	Reorganization items, net represent amounts incurred subsequent to the Petition Date as a direct result of the filing of our Chapter 11 cases and are comprised of the following:      Three Months Ended  September 30,  2016 2015  Trustee fees $ 30 $ 2  Professional fees 822 1,418  Provision for claims 4,880 -  $ 5,732 $ 1,420    Nine Months Ended  September 30,  2016 2015  Trustee fees $ 90 $ 173  Professional fees 1,849 6,363  Litigation Settlement, net (20,359) -  Litigation settlement due to class action plaintiffs 2,136 -  Litigation settlement due to Class B warrant holders 86 -  Provision for claims 4,880 -  Other claim adjustments - (192)  $ (11,318) $ 6,344 

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings per Common Share [Abstract]
Schedule of Weighted Average Number of Shares	The table below shows the effects of the stock dividend and the Reverse Split on the calculation of per share amounts previously reported in the Company’s Quarterly Report on Form 10-Q for the period ended September 30, 2015:    Three Months Ended Nine Months Ended  September 30, 2015 September 30, 2015  (unaudited) (unaudited)  Decrease in weighted average number of shares outstanding used to calculate basic net income per share amounts for Class A (477,948,757) (425,043,175)   Decrease in weighted average number of shares outstanding used to calculate diluted net income per share amounts for Class A (477,996,214) (425,112,083)   Decrease in weighted average number of shares outstanding used to calculate basic and diluted net income per share amounts for Class B (6,600,472) (6,602,295)   Change in net income per share - basic and diluted Class A and B $ 1.49 $ 2.31  Dollar amounts, except per share amounts are in thousands.
Components of Calculation of Earnings Per Share	The components of the calculation of basic earnings per share and diluted earnings per share are as follows:      Three Months Ended  September 30,  2016 2015   Net (loss)/income $ (98,739) $ 173,354   Weighted average common shares outstanding:  Common stock - basic and diluted  Class A common stock - basic 89,363,106 95,589,751  Class A common stock - diluted 89,363,106 95,599,243  Class B common stock - basic and diluted - 1,320,094    Nine Months Ended  September 30,  2016 2015   Net (loss)/income $ (18,139) $ 274,693   Weighted average common shares outstanding:  Common stock - basic and diluted  Class A common stock - basic 92,108,745 95,579,545  Class A common stock - diluted 92,108,745 95,598,816  Class B common stock - basic and diluted 712,976 1,320,459

Business and Segment Reporting

Business and Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2016
Business and Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Information about the Company’s reportable segments as of and for the three and nine months ended September 30, 2016 and 2015 follows:       International  Crude Product  Three months ended Tankers Carriers Other U.S. Totals  September 30, 2016:  Shipping revenues $ 53,532 $ 27,239 $ - $ 114,180 $ 194,951  Time charter equivalent revenues 50,156 27,010 - 109,649 186,815  Depreciation and amortization 13,265 6,885 226 22,832 43,208  (Loss)/gain on disposal of vessels and other property, including impairments (4,315) (45,325) - (97,782) (147,422)  Income/(loss) from vessel operations 13,428 (1,575) (77) 26,895 38,671  Equity in income of affiliated companies 9,321 - 3,167 - 12,488  Investments in and advances to affiliated companies at September 30, 2016 287,303 15,241 60,700 38 363,282  Total assets at September 30, 2016 1,087,118 448,495 60,700 829,110 2,425,423   September 30, 2015:  Shipping revenues 80,896 50,220 5 110,631 241,752  Time charter equivalent revenues 76,222 49,980 5 107,381 233,588  Depreciation and amortization 12,817 7,306 281 18,339 38,743  Loss/(gain) on disposal of vessels and other property (4) 3,236 6 (53) 3,185  Income from vessel operations 38,945 22,452 521 30,486 92,404  Equity in income of affiliated companies 8,537 - 2,441 - 10,978  Investments in and advances to affiliated companies at September 30, 2015 280,678 13,964 48,965 38 343,645  Total assets at September 30, 2015 1,156,097 513,208 48,965 1,000,811 2,719,081     International  Crude Product  Nine months ended Tankers Carriers Other U.S. Totals  September 30, 2016:  Shipping revenues $ 212,907 $ 99,602 $ - $ 347,644 $ 660,153  Time charter equivalent revenues 204,059 98,771 - 336,602 639,432  Depreciation and amortization 39,225 20,523 734 68,401 128,883  (Loss)/gain on disposal of vessels and other property, including impairments (4,114) (45,325) (142) (97,796) (147,377)  Income from vessel operations 96,312 14,581 94 92,038 203,025  Equity in income/(loss) of affiliated companies 27,312 - 8,781 (15) 36,078  Expenditures for vessels and vessel improvements 57 534 - - 591  Payments for drydockings 3,541 1,392 - 5,306 10,239   September 30, 2015:  Shipping revenues 235,843 136,758 61 348,119 720,781  Time charter equivalent revenues 220,012 135,863 59 334,499 690,433  Depreciation and amortization 37,982 21,206 998 53,545 113,731  Loss/(gain) on disposal of vessels and other property 4 3,231 1,139 (116) 4,258  Income/(loss) from vessel operations 113,245 51,679 (156) 108,950 273,718  Equity in income/(loss) of affiliated companies 25,908 - 9,318 (6) 35,220  Expenditures for vessels and vessel improvements - 716 - 53 769  Payments for drydockings 8,334 2,261 - 27,674 38,269 
Reconciliation of Revenue from Segments to Consolidated	Reconciliations of time charter equivalent (“TCE”) revenues of the segments to shipping revenues as reported in the condensed statements of operations follow:      Three Months Ended  September 30,  2016 2015  Time charter equivalent revenues $ 186,815 $ 233,588  Add: Voyage expenses 8,136 8,164  Shipping revenues $ 194,951 $ 241,752    Nine Months Ended  September 30,  2016 2015  Time charter equivalent revenues $ 639,432 $ 690,433  Add: Voyage expenses 20,721 30,348  Shipping revenues $ 660,153 $ 720,781 
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Reconciliations of income from vessel operations of the segments to income before income taxes, as reported in the condensed consolidated statements of operations follow:       Three Months Ended  September 30,  2016 2015  Total income from vessel operations of all segments $ 38,671 $ 92,404  General and administrative expenses (19,076) (21,376)  Severance costs (2,238) -  (Loss)/gain on disposal of vessels and other property, including impairments (147,422) 3,185  Consolidated (loss)/income from vessel operations (130,065) 74,213  Equity in income of affiliated companies 12,488 10,978  Other expense (5,079) (1,963)  Interest expense (20,126) (29,191)  Reorganization items, net (5,732) (1,420)  (Loss)/income before income taxes $ (148,514) $ 52,617    Nine Months Ended  September 30,  2016 2015  Total income from vessel operations of all segments $ 203,025 $ 273,718  General and administrative expenses (53,792) (58,129)  Technical management transition costs - (40)  Severance costs (2,238) (5)  (Loss)/gain on disposal of vessels and other property, including impairments (147,377) 4,258  Consolidated (loss)/income from vessel operations (382) 219,802  Equity in income of affiliated companies 36,078 35,220  Other expense (3,104) (1,842)  Interest expense (63,337) (86,691)  Reorganization items, net 11,318 (6,344)  (Loss)/income before income taxes $ (19,427) $ 160,145 
Reconciliation of Assets from Segment to Consolidated	Reconciliations of total assets of the segments to amounts included in the condensed consolidated balance sheets follow:      As of September 30, 2016 2015   Total assets of all segments $ 2,425,423 $ 2,719,081  Corporate unrestricted cash (1) 313,232 628,015  Corporate restricted cash (1) 5,572 26,568  Other unallocated amounts 5,727 52,276  Consolidated total assets $ 2,749,954 $ 3,425,940  (1) As of September 30, 2016 and 2015, OBS and its subsidiaries had unrestricted cash balances of $113,611 and $186,819 , respectively, and INSW and its subsidiaries had unrestricted cash balances of $110,158 and $250,315 , respectively. Of the restricted cash balances, $0 and $8,989 were held by INSW as of September 30, 2016 and 2015, respectively. The remaining balances were held by the Parent Company, OSG.

Variable Interest Entities ("31

Variable Interest Entities ("VIEs") (Tables)	9 Months Ended
	Sep. 30, 2016
Variable Interest Entities ("VIEs") [Abstract]
Schedule of Variable Interest Entities	The following table presents the carrying amounts of assets and liabilities in the condensed consolidated balance sheet related to the VIEs as of September 30, 2016:     Condensed Consolidated Balance Sheet  Investments in Affiliated Companies $ 282,181 
Schedule of Variable Interest Entities Liability in Condensed Consolidated Balance Sheet to Maximum Exposure to Loss	The table below compares the Company’s liability in the condensed consolidated balance sheet to the maximum exposure to loss at September 30, 2016:      Condensed Consolidated Balance Sheet Maximum Exposure to Loss  Other Liabilities $ - $ 321,600 

Equity Method Investments (Tabl

Equity Method Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Equity Method Investments [Abstract]
Results of Operations of Equity Method Investments	A condensed summary of the results of operations of the equity method invest ees follows:    Three Months Ended  September 30,  2016 2015  Shipping revenues $ 89,982 $ 94,365  Ship operating expenses (55,276) (61,081)  Income from vessel operations 34,706 33,284  Other expense (295) (240)  Interest expense (10,420) (12,075)  Net income $ 23,991 $ 20,969       Nine Months Ended  September 30,  2016 2015  Shipping revenues $ 258,619 $ 274,383  Ship operating expenses (155,868) (171,764)  Income from vessel operations 102,751 102,619  Other (expense)/income (1,017) 990  Interest expense (32,539) (36,117)  Net income $ 69,195 $ 67,492  

Fair Value of Financial Instr33

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The estimated fair values of the Company’s financial instruments, other than derivatives that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, are as follows:    Fair Value Level 1 Level 2  September 30, 2016:  Cash (1) $ 318,804 $ 318,804 $ -  8.125% notes due 2018 (86,006) - (86,006)  OBS Term loan (474,881) - (474,881)  INSW Term loan (462,661) - (462,661)  7.5% Election 2 notes due 2021 (316) - (316)  7.5% notes due 2024 (409) - (409)   December 31, 2015:  Cash (1) $ 522,408 $ 522,408 $ -  8.125% notes due 2018 (121,046) - (121,046)  OBS Term loan (571,682) - (571,682)  INSW Term loan (601,928) - (601,928)  7.5% Election 2 notes due 2021 (328) - (328)  7.5% notes due 2024 (745) - (745) (1) Includes current and non-current restricted cash aggregating $5,572 and $19,572 at September 30, 2016 and December 31, 2015, respectively.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Derivatives are recorded on a net basis by counterparty when a legal right of offset exists. The following table presents information with respect to the fair values of derivatives reflected in the September 30, 2016 and December 31, 2015 balance sheets on a gross basis by transaction:     Asset Derivatives Liability Derivatives  Balance Sheet Location Amount Balance Sheet Location Amount  September 30, 2016:   Derivatives designated as hedging instruments:   Interest rate caps:  Long-term portion Other assets $ 1 Other liabilities $ -  Total derivatives designated as hedging instruments $ 1 $ -   December 31, 2015:   Derivatives designated as hedging instruments:   Interest rate caps:  Long-term portion Other assets $ 102 Other liabilities $ -  Total derivatives designated as hedging instruments $ 102 $ - 
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The effect of cash flow hedging relationships recognized in other comprehensive income /(loss) excluding amounts reclassified from accumulated other comprehensive loss (effective portion), including hedges of equity method investees, for the three and nine month periods ended September 30, 2016 and 2015 follows:     Three Months Ended  September 30,  2016 2015  Interest rate swaps $ 2,303 $ (10,152)  Interest rate caps - (348)  Total $ 2,303 $ (10,500)    Nine Months Ended  September 30,  2016 2015  Interest rate swaps $ (13,367) $ (13,388)  Interest rate caps (101) (1,930)  Total $ (13,467) $ (15,318)  The effect of cash flow hedging relationships on the unaudited condensed consolidated statement of operations is presented excluding hedges of equity method investees. The effect of INSW’s cash flow hedging relationships on the unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2016 and 2015 follows:    Statement of Operations  Effective Portion of Gain/(Loss)  Reclassified from  Accumulated Other Comprehensive  Loss Ineffective Portion  Amount of Amount of  Location Gain/(Loss) Location Gain/(Loss)  For the three months ended September 30, 2016:  Interest rate caps Interest expense $ (258) Interest expense $ -  Total $ (258) $ -   For the three months ended September 30, 2015:  Interest rate caps Interest expense $ - Interest expense $ -  Total $ - $ -     Statement of Operations  Effective Portion of Gain/(Loss)  Reclassified from  Accumulated Other Comprehensive  Loss Ineffective Portion  Amount of Amount of  Location Gain/(Loss) Location Gain/(Loss)  For the nine months ended September 30, 2016:  Interest rate caps Interest expense $ (392) Interest expense $ -  Total $ (392) $ -   For the nine months ended September 30, 2015:  Interest rate caps Interest expense $ - Interest expense $ -  Total $ - $ - 
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following table presents the fair values, which are pre-tax, for assets and liabilities measured on a recurring basis (excluding investments in affiliated companies):     Fair Value Level 1 Level 2  Assets/(Liabilities) at September 30, 2016:  Derivative Assets (interest rate caps) $ 1 $ - $ 1 (1)   Assets/(Liabilities) at December 31, 2015:  Derivative Assets (interest rate caps) $ 102 $ - $ 102 (1) (1) For interest rate caps, fair values are derived using valuation models that utilize the income valuation approach. These valuation models take into account contract terms such as maturity, as well as other inputs such as interest rate yield curves and creditworthiness of the counterparty and the Company.
Schedule of Fair Value, Assets and Liabilities Measured on Nonrecurring Basis	The following table summarizes the fair values of impairments measured at fair value on a nonrecurring basis for the nine months ended September 30, 2016:   Description Fair Value Level 2 Level 3 Total Impairment Charges  Assets:   U.S. Flag impairment - Vessels held and used (1)(2) $ 70,884 $ - $ 70,884 $ (97,782)   International Crude Tankers - Vessels held and used (1)(3) $ 28,875 $ 28,875 $ - $ (4,315)   International Product Carriers - Vessels held and used (1)(3) $ 40,000 $ 40,000 $ - $ (45,325)  (1) Aggregate pre-tax impairment charges of $147,422 were recorded in the third quarter of 2016, related to seven ATBs held and use d in the U.S. Flag segment and two vessels held and used in each of the International Crude Tanker and International Product Carriers segments. (2) The fair value measurement used to determine the impairment for the U.S. Flag vessels held and used was based on the income approach, which utilized cash flow projections consistent with the most recent projections of the Company, and a discount rate equivalent to a market participant's weighted average cost of capital. Because the Company uses its own cash flow projections, the cash flow projections are considered to be Level 3 . (3) The fair value measurement used to determine the impairment for the International Flag vessels held and used was based upon a market approach, which considered the expected sales prices of the vessels obtained from vessel appraisals . Because sales of vessels occur somewhat infrequently the expected sales prices are considered to be Level 2.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt [Abstract]
Schedule of Long-term Debt Instruments	Debt consists of the following:      September 30, December 31,  2016 2015  8.125% notes due 2018 , net of unamortized discount and deferred costs of $1,668 and $3,514 $ 79,951 $ 115,450  OBS term loan, due 2019 , net of unamortized discount and deferred costs of $12,569 and $19,340 461,719 574,615  INSW term loan, due 2019 , net of unamortized discount and deferred costs of $22,116 and $23,727 439,390 595,222  7.5% Election 2 notes due 2021 , net of unamortized discount and deferred costs of $8 and $9 293 292  7.50% notes due 2024 390 684  Total debt 981,743 1,286,263  Less current portion 25,483 63,039  Long-term portion $ 956,260 $ 1,223,224 
Schedule of Repurchases and Payments on Debt	During the nine months ended September 30, 2016, the Company made repurchases in the open market and optional and mandatory principal prepayments under the OBS Term Loan and INSW Term Loan as follows:    Loan Facility Optional / Mandatory Prepayments Open Market Repurchases Total  OBS Term Loan $ 91,295 $ 27,000 $ 118,295  INSW Term Loan 83,832 68,922 152,754  Total $ 175,127 $ 95,922 $ 271,049 

Accumulated Other Comprehensi35

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Sep. 30, 2016
Accumulated Other Comprehensive Loss [Abstract]
Components of Accumulated Other Comprehensive Loss	The components of accumulated other comprehensive loss, net of related taxes, in the condensed consolidated balance sheets follow:    September 30, December 31,  As of 2016 2015  Unrealized losses on derivative instruments $ (55,763) $ (54,620)  Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement benefit plans) (17,492) (18,841)  $ (73,255) $ (73,461)  The changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, during the three and nine months ended September 30, 2016 and 2015 follow:     Unrealized losses on cash flow hedges Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans) Total   Balance as of June 30, 2016 $ (62,092) $ (17,842) $ (79,934)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss 2,267 350 2,617  Amounts reclassified from accumulated other comprehensive loss 4,062 - 4,062  Total change in accumulated other comprehensive loss 6,329 350 6,679  Balance as of September 30, 2016 $ (55,763) $ (17,492) $ (73,255)   Balance as of June 30, 2015 $ (56,710) $ (22,111) $ (78,821)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (10,383) 470 (9,913)  Amounts reclassified from accumulated other comprehensive loss 4,522 - 4,522  Total change in accumulated other comprehensive loss (5,861) 470 (5,391)  Balance as of September 30, 2015 $ (62,571) $ (21,641) $ (84,212)    Unrealized losses on cash flow hedges Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans) Total   Balance as of December 31, 2015 $ (54,620) $ (18,841) $ (73,461)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (13,484) 1,349 (12,135)  Amounts reclassified from accumulated other comprehensive loss 12,341 - 12,341  Total change in accumulated other comprehensive loss (1,143) 1,349 206  Balance as of September 30, 2016 $ (55,763) $ (17,492) $ (73,255)   Balance as of December 31, 2014 $ (61,547) $ (21,833) $ (83,380)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (14,776) 192 (14,584)  Amounts reclassified from accumulated other comprehensive loss 13,752 - 13,752  Total change in accumulated other comprehensive loss (1,024) 192 (832)  Balance as of September 30, 2015 $ (62,571) $ (21,641) $ (84,212) 
Reclassification Out of Accumulated Other Comprehensive Income (Loss)	Amounts reclassified out of each component of accumulated other comprehensive loss follow:     Three Months Ended  September 30,  Accumulated Other Comprehensive Loss Component 2016 2015 Statement of Operations Line Item   Unrealized losses on cash flow hedges:  Interest rate swaps entered into by the Company's Equity in income of  equity method joint venture investees $ (3,804) $ (4,522) affiliated companies   Interest rate caps entered into by the Company's subsidiaries (258) - Interest expense  $ (4,062) $ (4,522) Total before and net of tax     Nine Months Ended  September 30,  Accumulated Other Comprehensive Loss Component 2016 2015 Statement of Operations Line Item   Unrealized losses on cash flow hedges:  Interest rate swaps entered into by the Company's Equity in income of  equity method joint venture investees $ (11,949) $ (13,752) affiliated companies   Interest rate caps entered into by the Company's subsidiaries (392) - Interest expense  $ (12,341) $ (13,752) Total before and net of tax 
Comprehensive Income Tax Expenses (Benefits)	The income tax expense/(benefit) allocated to each component of other comprehensive loss follows:     Unrealized gains/(losses) on cash flow hedges Items not yet recognized as a component of net periodic benefit cost  For the three months ended September 30, 2016:  Current period change excluding amounts reclassified from  accumulated other comprehensive loss $ (36) $ -  Amounts reclassified from accumulated other  comprehensive loss - -  Total change in accumulated other comprehensive loss $ (36) $ -   For the three months ended September 30, 2015:  Current period change excluding amounts reclassified from  accumulated other comprehensive loss $ 117 $ -  Amounts reclassified from accumulated other  comprehensive loss - -  Total change in accumulated other comprehensive loss $ 117 $ -   For the nine months ended September 30, 2016:  Current period change excluding amounts reclassified from  accumulated other comprehensive loss $ (18) $ -  Amounts reclassified from accumulated other  comprehensive loss - -  Total change in accumulated other comprehensive loss $ (18) $ -   For the nine months ended September 30, 2015:  Current period change excluding amounts reclassified from  accumulated other comprehensive loss $ 542 $ -  Amounts reclassified from accumulated other  comprehensive loss - -  Total change in accumulated other comprehensive loss $ 542 $ - 

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2016
Charters-Out [Member]
Lease [Abstract]
Operating Leases of Lessee Disclosure	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 September 30, 2016 Amount Revenue Days  2016 $ 113,897 2,622  2017 268,422 5,298  2018 147,905 2,098  2019 78,508 938  2020 43,766 532  Thereafter 134,843 1,575  Net minimum lease payments $ 787,341 13,063 
Property Subject to Operating Lease [Member] | Bareboat Charters-In [Member]
Lease [Abstract]
Schedule of Property Subject to or Available for Operating Lease	The future minimum commitments and related number of operating days under these operating leases are as follows:     Bareboat Charters-in:   At September 30, 2016 Amount Operating Days  2016 $ 24,822 1,196  2017 98,219 4,713  2018 93,200 3,929  2019 111,819 3,470  2020 9,168 366  Thereafter 41,007 1,637  Net minimum lease payments $ 378,235 15,311 
Property Subject to Operating Lease [Member] | Time Charters-In [Member]
Lease [Abstract]
Schedule of Property Subject to or Available for Operating Lease	   Time Charters-in:   At September 30, 2016 Amount Operating Days  2016 $ 7,727 712  2017 14,571 1,354  2018 730 152  Net minimum lease payments $ 23,028 2,218 

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	Jun. 13, 2016	Dec. 17, 2015	Nov. 20, 2015	Sep. 30, 2016
Schedule of Equity Method Investments [Line Items]
Description of reverse stock split				on June 2, 2016 the Board approved an amendment (the "Reverse Split Amendment") to the Company's Amended and Restated Certificate of Incorporation. The Reverse Split Amendment effected a one (1) for six (6) reverse stock split and corresponding reduction of the number of authorized shares of common stock, par value $0.01 per share (the "Reverse Split"). The Reverse Split Amendment became effective on June 13, 2016
Description of stock conversion				effective May 27, 2016, all Class B common shares and Class B warrants automatically converted into one Class A common share and one Class A warrant, respectively
Stock split conversion ratio	0.16666
Common Class A and Common Class B [Member]
Schedule of Equity Method Investments [Line Items]
Dividends payable, date of record			Dec. 3, 2015
Dividends payable, date to be paid			Dec. 17, 2015
Share ratio issued as dividend		0.10%

Basis of Presentation (Schedule

Basis of Presentation (Schedule of Weighted Average Number of Shares) (Details) - $ / shares	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Common Class A [Member]
Decrease in weighted average number of shares outstanding used to calculate basic net income per share amounts	(477,948,757)	(425,043,175)
Decrease in weighted average number of shares outstanding used to calculate diluted net income per shares amounts	(477,996,214)	(425,112,083)
Common Class B [Member]
Decrease in weighted average number of shares outstanding used to calculate basic and diluted net income per share amounts	(6,600,472)	(6,602,295)
Class A and Class B [Member]
Increase (decrease) earnings per share, basic and diluted	$ 1.49	$ 2.31

Chapter 11 Filing and Emergen39

Chapter 11 Filing and Emergence from Bankruptcy (Narrative) (Details) - USD ($) $ in Thousands	Apr. 05, 2016	Feb. 12, 2016	May 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Litigation settlement, received (paid)								$ 20,359
Special dividend								1,337
Payments for restructuring				$ 668			$ 6,530	$ 1,756	$ 15,958
Bankruptcy proceedings, date petition for bankruptcy filed								Nov. 14, 2012
Bankruptcy proceedings, court where petition was filed								U.S. Bankruptcy Court for the District of Delaware
Plan of reorganization, date plan is effective								Aug. 5, 2014
Provision for claims				4,880				$ 4,880
Litigation settlement due to class action plaintiffs								2,136
Class B Warrant [Member]
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Litigation settlement due to class action plaintiffs								$ 86
Proskauer Action [Member]
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Litigation recovery percentage expected to be disbursed to the class action plaintiffs	15.00%							15.00%
Litigation settlement, received (paid)	$ (2,136)	$ 20,359						$ (2,136)
Net litigation recovery				$ 14,242				$ 14,242
Proskauer Action [Member] | Common Class B [Member]
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Special dividend						$ 1,337
Proskauer Action [Member] | Common Class B [Member] | Class B Warrant [Member]
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Litigation recovery percentage expected to be disbursed to the class action plaintiffs			10.00%
Reorganization items			$ 1,423
Litigation settlement due to class action plaintiffs					$ 86

Chapter 11 Filing and Emergen40

Chapter 11 Filing and Emergence from Bankruptcy (Reorganization Items, Net) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Liabilities Subject To Compromise And Reorganization Items [Line Items]
Trustee fees	$ 30	$ 2	$ 90	$ 173
Professional fees	822	1,418	1,849	6,363
Litigation Settlement, net			(20,359)
Litigation settlement due to class action plaintiffs			2,136
Provision for claims	4,880		4,880
Other claims adjustments				(192)
Reorganization Items, Total	$ 5,732	$ 1,420	(11,318)	$ 6,344
Class B Warrant [Member]
Liabilities Subject To Compromise And Reorganization Items [Line Items]
Litigation settlement due to class action plaintiffs			$ 86

Significant Accounting Polici41

Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Summary Of Significant Accounting Policies [Line Items]
Restricted cash and cash equivalents	$ 5,572		$ 5,572		$ 10,583
Deferred finance costs, gross	2,771		2,771		2,922
Amortization of financing costs	2,897	$ 2,763	8,936	$ 7,634
Intangible assets, less accumulated amortization of $45,233 and $41,783	46,767		46,767		50,217
Other assets	20,492		20,492		18,455
Long-term debt	956,260		956,260		1,223,224
Deferred tax liabilities, net, noncurrent	202,589		202,589		208,195
Ineffective Portion
Long-term debt	981,743		981,743		1,286,263
Scenario, Plan [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase deprecation expense	2,200
Accounting Standards Update 201503 [Member]
Summary Of Significant Accounting Policies [Line Items]
Other assets					(44,543)
Long-term debt					(44,543)
OIN Facilities [Member]
Summary Of Significant Accounting Policies [Line Items]
Restricted cash and cash equivalents	8,989		8,989		8,989
OBS Term Loan and OIN Term Loan [Member]
Summary Of Significant Accounting Policies [Line Items]
Deferred finance costs, gross	33,388		33,388		41,020
OBS Term Loan [Member]
Summary Of Significant Accounting Policies [Line Items]
Long-term debt	461,719		461,719		574,615
Debt instrument, unamortized discount	12,569		12,569		19,340
OIN Term Loan [Member]
Summary Of Significant Accounting Policies [Line Items]
Long-term debt	439,390		439,390		595,222
Debt instrument, unamortized discount	22,116		22,116		23,727
Unsecured Senior Notes Due In 2013, 2018 and 2024 [Member].
Summary Of Significant Accounting Policies [Line Items]
Deferred finance costs, gross	$ 1,676		$ 1,676		$ 3,523
Accounts Receivable [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			70.00%		77.00%

Earnings per Common Share (Narr

Earnings per Common Share (Narrative) (Details)	Jun. 13, 2016	Dec. 17, 2015	Sep. 30, 2016$ / sharesshares	Sep. 30, 2015shares	Sep. 30, 2016$ / sharesshares	Sep. 30, 2015shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount			1,089,276	268,538	839,841	162,358
Dilutive awards				9,492		19,271
Description of reverse stock split					on June 2, 2016 the Board approved an amendment (the "Reverse Split Amendment") to the Company's Amended and Restated Certificate of Incorporation. The Reverse Split Amendment effected a one (1) for six (6) reverse stock split and corresponding reduction of the number of authorized shares of common stock, par value $0.01 per share (the "Reverse Split"). The Reverse Split Amendment became effective on June 13, 2016
Description of stock conversion					effective May 27, 2016, all Class B common shares and Class B warrants automatically converted into one Class A common share and one Class A warrant, respectively
Stock split conversion ratio	0.16666
Common Class A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, shares, outstanding			70,179,442		70,179,442
Common stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01
Potentially dilutive securities			602,454	298,389
Common Class B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Participating securities, distributed and undistributed earnings (loss), diluted			0	0	0	0
Antidilutive securities excluded from computation of earnings per share, amount			0	0	0	0
Common stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01
Common Class A and Common Class B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Share ratio, issued as dividend		0.10%
Weighted Average [Member] | Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Participating securities, distributed and undistributed earnings (loss), diluted				61,567		56,931
Weighted Average [Member] | Common Class A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount			718,227	268,538
Weighted Average [Member] | Common Class A [Member] | Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Participating securities, distributed and undistributed earnings (loss), diluted			65,769		49,036
Class A and Class B Warants [Member] | Common Class A and Common Class B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Common stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01

Earnings per Common Share (Calc

Earnings per Common Share (Calculation of EPS) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earning Per Share [Line Items]
Net (Loss)/Income	$ (98,739)	$ 173,354	$ (18,139)	$ 274,693
Common Class A [Member]
Weighted average common shares outstanding:
Weighted average common shares outstanding, basic	89,363,106	95,589,751	92,108,745	95,579,545
Weighted average common shares outstanding, diluted	89,363,106	95,599,243	92,108,745	95,598,816
Common stock, shares, outstanding	70,179,442		70,179,442
Common Class B [Member]
Weighted average common shares outstanding:
Weighted average common shares outstanding, diluted		1,320,094		1,320,459
Common stock - basic and diluted		1,320,094	712,976	1,320,459
Class A Warrant [Member]
Weighted average common shares outstanding:
Class of warrant or right, outstanding	91,016,013		91,016,013

Business and Segment Reportin44

Business and Segment Reporting (Reportable Segments Information) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)segment	Sep. 30, 2016USD ($)segment	Sep. 30, 2015USD ($)segment	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3	3	3	3
Shipping revenues	$ 194,951	$ 241,752	$ 660,153	$ 720,781
Time charter equivalent revenues	186,815	233,588	639,432	690,433
Depreciation and amortization	43,208	38,743	128,883	113,731
(Loss)/gain on disposal of vessels and other property, including impairments	(147,422)	3,185	(147,377)	4,258
Income/(loss) from vessel operations	38,671	92,404	203,025	273,718
Equity in income of affiliated companies	12,488	10,978	36,078	35,220
Total assets	2,749,954	3,425,940	2,749,954	3,425,940	$ 3,230,410
Payments for drydockings			10,239	38,269
Operating Segments [Member]
Segment Reporting Information [Line Items]
Shipping revenues	194,951	241,752	660,153	720,781
Time charter equivalent revenues	186,815	233,588	639,432	690,433
Depreciation and amortization	43,208	38,743	128,883	113,731
(Loss)/gain on disposal of vessels and other property, including impairments	(147,422)	3,185	(147,377)	4,258
Income/(loss) from vessel operations	38,671	92,404	203,025	273,718
Equity in income of affiliated companies	12,488	10,978	36,078	35,220
Investments in and advances to affiliated companies	363,282	343,645	363,282	343,645
Total assets	2,425,423	2,719,081	2,425,423	2,719,081
Expenditures for vessels			591	769
Payments for drydockings			10,239	38,269
International Crude Tankers Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Shipping revenues	53,532	80,896	212,907	235,843
Time charter equivalent revenues	50,156	76,222	204,059	220,012
Depreciation and amortization	13,265	12,817	39,225	37,982
(Loss)/gain on disposal of vessels and other property, including impairments	(4,315)	(4)	(4,114)	4
Income/(loss) from vessel operations	13,428	38,945	96,312	113,245
Equity in income of affiliated companies	9,321	8,537	27,312	25,908
Investments in and advances to affiliated companies	287,303	280,678	287,303	280,678
Total assets	1,087,118	1,156,097	1,087,118	1,156,097
Expenditures for vessels			57
Payments for drydockings			3,541	8,334
International Product Carriers Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Shipping revenues	27,239	50,220	99,602	136,758
Time charter equivalent revenues	27,010	49,980	98,771	135,863
Depreciation and amortization	6,885	7,306	20,523	21,206
(Loss)/gain on disposal of vessels and other property, including impairments	(45,325)	3,236	(45,325)	3,231
Income/(loss) from vessel operations	(1,575)	22,452	14,581	51,679
Investments in and advances to affiliated companies	15,241	13,964	15,241	13,964
Total assets	448,495	513,208	448,495	513,208
Expenditures for vessels			534	716
Payments for drydockings			1,392	2,261
Other Segments [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Shipping revenues		5		61
Time charter equivalent revenues		5		59
Depreciation and amortization	226	281	734	998
(Loss)/gain on disposal of vessels and other property, including impairments		6	(142)	1,139
Income/(loss) from vessel operations	(77)	521	94	(156)
Equity in income of affiliated companies	3,167	2,441	8,781	9,318
Investments in and advances to affiliated companies	60,700	48,965	60,700	48,965
Total assets	60,700	48,965	60,700	48,965
U.S. Flag Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Shipping revenues	114,180	110,631	347,644	348,119
Time charter equivalent revenues	109,649	107,381	336,602	334,499
Depreciation and amortization	22,832	18,339	68,401	53,545
(Loss)/gain on disposal of vessels and other property, including impairments	(97,782)	(53)	(97,796)	(116)
Income/(loss) from vessel operations	26,895	30,486	92,038	108,950
Equity in income of affiliated companies			(15)	(6)
Investments in and advances to affiliated companies	38	38	38	38
Total assets	$ 829,110	$ 1,000,811	829,110	1,000,811
Expenditures for vessels				53
Payments for drydockings			$ 5,306	$ 27,674

Business and Segment Reportin45

Business and Segment Reporting (Reconciliation of Time Charter Revenue to Shipping Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Business and Segment Reporting [Abstract]
Time charter equivalent revenues	$ 186,815	$ 233,588	$ 639,432	$ 690,433
Add: Voyage expenses	8,136	8,164	20,721	30,348
Shipping revenues	$ 194,951	$ 241,752	$ 660,153	$ 720,781

Business and Segment Reportin46

Business and Segment Reporting (Reconciliation of Income from Vessel Operations to Profit (Loss) Before Reorganization) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Business and Segment Reporting [Abstract]
Total income from vessel operations of all segments	$ 38,671	$ 92,404	$ 203,025	$ 273,718
General and administrative expenses	(19,076)	(21,376)	(53,792)	(58,129)
Technical management transition costs				(40)
Severance costs	(2,238)		(2,238)	(5)
(Loss)/gain on disposal of vessels and other property, including impairments	(147,422)	3,185	(147,377)	4,258
(Loss)/income from vessel operations	(130,065)	74,213	(382)	219,802
Equity in income of affiliated companies	12,488	10,978	36,078	35,220
Other expense	(5,079)	(1,963)	(3,104)	(1,842)
Interest expense	(20,126)	(29,191)	(63,337)	(86,691)
Reorganization items, net	(5,732)	(1,420)	11,318	(6,344)
Loss/(income) before income taxes	$ (148,514)	$ 52,617	$ (19,427)	$ 160,145

Business and Segment Reportin47

Business and Segment Reporting (Reconcilation of Assets of Segments to Consolidated Amounts) (Details) - USD ($) $ in Thousands		Sep. 30, 2016		Dec. 31, 2015	Sep. 30, 2015		Dec. 31, 2014
Segment Reporting Information [Line Items]
Cash and cash equivalents		$ 313,232		$ 502,836	$ 628,015		$ 389,226
Restricted cash		5,572		10,583
Other unallocated amounts		5,727			52,276
Consolidated Total Assets		2,749,954		3,230,410	3,425,940
Operating Segments [Member]
Segment Reporting Information [Line Items]
Consolidated Total Assets		2,425,423			2,719,081
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Restricted cash		5,572	[1]	$ 19,572	26,568	[1]
Unrestricted cash	[1]	313,232			628,015
OSG Bulk Ships, Inc (OBS) [Member]
Segment Reporting Information [Line Items]
Unrestricted cash		113,611			186,819
OSG International, Inc (OIN) [Member]
Segment Reporting Information [Line Items]
Restricted cash		0			8,989
Unrestricted cash		$ 110,158			$ 250,315
[1]	As of September 30, 2016 and 2015, OBS and its subsidiaries had unrestricted cash balances of $113,611 and $186,819, respectively, and INSW and its subsidiaries had unrestricted cash balances of $110,158 and $250,315, respectively. Of the restricted cash balances, $0 and $8,989 were held by INSW as of September 30, 2016 and 2015, respectively. The remaining balances were held by the Parent Company, OSG.

Vessels (Narrative) (Details)

Vessels (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets held-for-use			$ 147,422,000
Payments to acquire equipment			591,000	$ 769,000
Vessel/Fleet [Member]
Property, Plant and Equipment [Line Items]
Gain (loss) on disposition of assets	$ 0	$ 3,236,000	0	$ 3,236,000
Payments to acquire equipment	0		0
U.S. Flag Segment [Member]
Property, Plant and Equipment [Line Items]
Decrease in deferred dyrdock costs			3,873,000
U.S. Flag Segment [Member] | Seven of the Eight Rebuilt ATBs [Member]
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets held-for-use			97,782,000
International Flag Segments [Member] | Two LR1s, One Aframax and One Panamax Vessel [Member]
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets held-for-use	49,640,000
International Flag Segments [Member] | 24 Remaining Vessels [Member]
Property, Plant and Equipment [Line Items]
Long lived asset, carrying amount that exceeds fair value	$ 210,000		$ 210,000

Variable Interest Entities ("49

Variable Interest Entities ("VIEs") (Narrative) (Details) $ in Thousands	Sep. 30, 2016USD ($)item	Dec. 31, 2015USD ($)
Variable Interest Entity [Line Items]
Accounts receivable, net, current | $	$ 62,763	$ 81,612
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of commercial pools | item	6
Number of joint ventures | item	3
Accounts receivable, net, current | $	$ 8,001

Variable Interest Entities ("50

Variable Interest Entities ("VIEs") (Balance Sheet Carrying Amounts Related to VIEs) (Details) $ in Thousands	Sep. 30, 2016USD ($)
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Investments in Affiliated Companies	$ 282,181

Variable Interest Entities ("51

Variable Interest Entities ("VIEs") (Comparison of Liability to Maximum Exposure to Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Other Liabilities	$ 58,999	$ 61,698
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Other Liabilities
Maximum Exposure to Loss	$ 321,600

EQUITY METHOD INVESTMENTS (Narr

EQUITY METHOD INVESTMENTS (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Nov. 30, 2004m³	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2009	Dec. 31, 2004
Schedule of Equity Method Investments [Line Items]
Effective portion of gain/(loss) reclassified from accumulated other comprehensive loss		$ (258)		$ (392)
Investments in and advances to affiliated companies		363,282		363,282		$ 348,718
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net
Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage	49.90%
Qatar Gas Transport Company Limited Nakilat Joint Venture [Member] | Long-Term Bank Financing Agreement [Member]
Schedule of Equity Method Investments [Line Items]
Line of credit facility, amount outstanding		648,813		648,813		678,132
Notional amount of interest rate cash flow hedge derivatives		627,488		627,488		656,400
Derivative, fixed interest rate								4.90%
Interest rate cash flow hedge liability at fair value		$ 107,965		107,965		103,262
Effective portion of gain/(loss) reclassified from accumulated other comprehensive loss				$ 53,807		51,467
Euronav Nv Joint Venture [Member] | FSO Asia and Africa [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		50.00%		50.00%
Investments in and advances to affiliated companies		$ 279,447		$ 279,447
Euronav Nv Joint Venture [Member] | Liquid Natural Gas Carrier Vessel [Member]
Schedule of Equity Method Investments [Line Items]
Storage volume, per carrier | m³	216,200
Initial term of contract	25 years
Euronav Nv Joint Venture [Member] | Long-Term Bank Financing Agreement [Member]
Schedule of Equity Method Investments [Line Items]
Notional amount of interest rate cash flow hedge derivatives		145,432		145,432		201,346
Derivative, fixed interest rate							3.90%
Gain (losses) on discontinuation of interest rate cash flow hedge due to forecasted transaction probable of not occurring, net		74	$ (235)	(164)	$ (606)
Euronav Nv Joint Venture [Member] | Long-Term Bank Financing Agreement [Member] | FSO Asia [Member]
Schedule of Equity Method Investments [Line Items]
Effective portion of gain/(loss) reclassified from accumulated other comprehensive loss				411		1,334
Euronav Nv Joint Venture [Member] | Long-Term Bank Financing Agreement [Member] | FSO Asia and Africa [Member]
Schedule of Equity Method Investments [Line Items]
Line of credit facility, amount outstanding		75,343		75,343		104,200
Guarantor obligations, current carrying value		0		0		0
Interest rate cash flow hedge liability at fair value		$ 3,453		$ 3,453		$ 7,203
Alaska Tanker Company Llc [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		37.50%		37.50%

EQUITY METHOD INVESTMENTS (Resu

EQUITY METHOD INVESTMENTS (Results of Operations of Equity Method Investments) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity Method Investments [Abstract]
Shipping revenues	$ 89,982	$ 94,365	$ 258,619	$ 274,383
Ship operating expenses	(55,276)	(61,081)	(155,868)	(171,764)
Income from vessel operations	34,706	33,284	102,751	102,619
Other income/(expense)	(295)	(240)	(1,017)	990
Interest expense	(10,420)	(12,075)	(32,539)	(36,117)
Net income	$ 23,991	$ 20,969	$ 69,195	$ 67,492

Fair Value of Financial Instr54

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Narrative) (Details) - Interest Rate Cap [Member] $ in Thousands	Sep. 30, 2016USD ($)
OSG Bulk Ships, Inc (OBS) [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, notional amount	$ 375,000
OSG Bulk Ships, Inc (OBS) [Member] | Scenario, Plan [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, cap interest rate	2.50%
OSG International, Inc (OIN) [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, notional amount	$ 400,000
OSG International, Inc (OIN) [Member] | Scenario, Plan [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, cap interest rate	2.50%
Maximum [Member] | OSG Bulk Ships, Inc (OBS) [Member] | Scenario, Plan [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, cap interest rate	3.00%

Fair Value of Financial Instr55

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Fair Value of Financial Instruments Other Than Derivatives) (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2016		Dec. 31, 2015	Sep. 30, 2015	[2]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	$ 318,804		$ 522,408
Restricted cash		5,572		10,583
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	318,804		522,408
8.125% Notes due 2018 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		$ (86,006)		$ (121,046)
Debt instrument, interest rate, stated percentage		8.125%		8.125%
Debt instrument, maturity date		Mar. 30, 2018
8.125% Notes due 2018 [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		$ (86,006)		$ (121,046)
7.50% Notes due 2024 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		$ (409)		$ (745)
Debt instrument, interest rate, stated percentage		7.50%		7.50%
Debt instrument, maturity date		Feb. 15, 2024
7.50% Notes due 2024 [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		$ (409)		$ (745)
7.50% Election 2 Notes due 2021 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		$ (316)		$ (328)
Debt instrument, interest rate, stated percentage		7.50%		7.50%
Debt instrument, maturity date		Feb. 15, 2021
7.50% Election 2 Notes due 2021 [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		$ (316)		$ (328)
OBS Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure		$ (474,881)		(571,682)
Debt instrument, maturity date		Aug. 5, 2019
OBS Term Loan [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure		$ (474,881)		(571,682)
OIN Term Loan [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure		$ (462,661)		(601,928)
Debt instrument, maturity date		Aug. 5, 2019
OIN Term Loan [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure		$ (462,661)		(601,928)
Corporate, Non-Segment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash		$ 5,572	[2]	$ 19,572	$ 26,568
[1]	Includes current and non-current restricted cash aggregating $5,572 and $19,572 at September 30, 2016 and December 31, 2015, respectively.
[2]	As of September 30, 2016 and 2015, OBS and its subsidiaries had unrestricted cash balances of $113,611 and $186,819, respectively, and INSW and its subsidiaries had unrestricted cash balances of $110,158 and $250,315, respectively. Of the restricted cash balances, $0 and $8,989 were held by INSW as of September 30, 2016 and 2015, respectively. The remaining balances were held by the Parent Company, OSG.

Fair Value of Financial Instr56

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Fair Value of Derivative Instruments) (Details) - Interest Rate Cap [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other Assets [Member]
Derivative Instruments In Hedges Long Term Portion Assets At Fair Value	$ 1	$ 102
Derivative Instruments in Hedges, Assets, at Fair Value	1	102
Other Liabilities [Member]
Derivative Instruments In Hedges Long Term Portion Liabilities At Fair Value
Derivative Instruments in Hedges, Liabilities, at Fair Value

Fair Value of Financial Instr57

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Effect of Cash Flow Hedging Relationships) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Unrealized losses on derivative instruments	$ 2,303	$ (10,500)	$ (13,467)	$ (15,318)
Interest Rate Cap [Member]
Unrealized losses on derivative instruments		(348)	(101)	(1,930)
Interest Rate Swap [Member]
Unrealized losses on derivative instruments	$ 2,303	$ (10,152)	$ (13,367)	$ (13,388)

Fair Value of Financial Instr58

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Effect of Cash Flow Hedging Relationships on Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Effective portion of gain/(loss) reclassified from accumulated other comprehensive loss	$ (258)		$ (392)
Ineffective Portion
Interest Expense [Member] | Interest Rate Cap [Member]
Effective portion of gain/(loss) reclassified from accumulated other comprehensive loss	(258)		(392)
Ineffective Portion

Fair Value of Financial Instr59

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Fair Values of Assets and Liabilities Measured on Recurring Basis) (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Available-for-sale Securities		$ 1	$ 102
Fair Value, Inputs, Level 2 [Member]
Available-for-sale Securities	[1]	$ 1	$ 102
[1]	For interest rate caps, fair values are derived using valuation models that utilize the income valuation approach. These valuation models take into account contract terms such as maturity, as well as other inputs such as interest rate yield curves and creditworthiness of the counterparty and the Company.

Fair Value of Financial Instr60

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Fair Values of Assets and Liabilities Measured on Nonrecurring Basis) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Impairment of long-lived assets held-for-use	$ (147,422)
Fair Value, Measurements, Nonrecurring [Member] | U.S. Flag Segment [Member]
Property, Plant, and Equipment, Fair Value Disclosure	70,884	[1],[2]
Impairment of long-lived assets held-for-use	(97,782)	[1],[2]
Fair Value, Measurements, Nonrecurring [Member] | International Crude Tankers Segment [Member]
Property, Plant, and Equipment, Fair Value Disclosure	28,875	[1],[3]
Impairment of long-lived assets held-for-use	(4,315)	[1],[3]
Fair Value, Measurements, Nonrecurring [Member] | International Product Carriers Segment [Member]
Property, Plant, and Equipment, Fair Value Disclosure	40,000	[1],[3]
Impairment of long-lived assets held-for-use	(45,325)	[1],[3]
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | International Crude Tankers Segment [Member]
Property, Plant, and Equipment, Fair Value Disclosure	28,875	[1],[3]
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | International Product Carriers Segment [Member]
Property, Plant, and Equipment, Fair Value Disclosure	40,000	[1],[3]
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | U.S. Flag Segment [Member]
Property, Plant, and Equipment, Fair Value Disclosure	$ 70,884	[1],[2]
[1]	Aggregate pre-tax impairment charges of $147,422 were recorded in the third quarter of 2016, related to seven ATBs held and used in the U.S. Flag segment and two vessels held and used in each of the International Crude Tanker and International Product Carriers segments.
[2]	The fair value measurement used to determine the impairment for the U.S. Flag vessels held and used was based on the income approach, which utilized cash flow projections consistent with the most recent projections of the Company, and a discount rate equivalent to a market participant's weighted average cost of capital. Because the Company uses its own cash flow projections, the cash flow projections are considered to be Level 3.
[3]	The fair value measurement used to determine the impairment for the International Flag vessels held and used was based upon a market approach, which considered the expected sales prices of the vessels obtained from vessel appraisals. Because sales of vessels occur somewhat infrequently the expected sales prices are considered to be Level 2.

Debt (Exit Financing Facilities

Debt (Exit Financing Facilities) (Narrative) (Details) - USD ($)	Aug. 05, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2016	Sep. 20, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Gain (loss) on repurchase of debt instrument				$ (3,873,000)
Write off of deferred debt issuance cost				8,580,000
G & A expenses, other, open market debt repurchase legal and consulting fees				302,000
Repayments of unsecured debt				168,069,000	$ 101,092,000
OSG International, Inc (OIN) [Member]
Debt Instrument [Line Items]
Proceeds from dividends received				100,000,000
Proceeds from dividends to parent company				102,000,000
Debt instrument, maximum amount of cash dividend							$ 100,000,000
OSG Bulk Ships, Inc (OBS) [Member]
Debt Instrument [Line Items]
Proceeds from dividends to parent company				51,295,000
OBS Term Loan [Member]
Debt Instrument [Line Items]
Threshold amounts available for parent		$ 0		0
Interest expense, debt		6,560,000	$ 8,022,000	21,685,000	23,863,000
Facility prepayment				19,300,000
OIN Term Loan [Member]
Debt Instrument [Line Items]
Threshold amounts available for parent		30,200,000		30,200,000
Interest expense, debt		8,471,000	9,155,000	26,097,000	27,236,000
Repayments of unsecured debt				75,000,000
OIN Term Loan [Member] | Scenario, Forecast [Member]
Debt Instrument [Line Items]
Mandatory, payment amount						$ 0
OIN Facilities [Member]
Debt Instrument [Line Items]
Debt instrument, covenant requirement, threshold amount related to fair value of collateralized assets		500,000,000		500,000,000				$ 500,000,000
Debt instrument, face amount							$ 200,000,000
OBS Term Loan and OIN Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, amortization, quarterly percentage of original principal amount	1.00%
Gain (loss) on repurchase of debt instrument				(1,410,000)
Debt instrument, additional mandatory prepayments, percentage	50.00%
OBS Term Loan and OIN Facilities [Member]
Debt Instrument [Line Items]
Debt instrument, convenant threshold related to net cash proceeds from asset sales	$ 5,000,000
Exit Financing Facilities [Member]
Debt Instrument [Line Items]
Interest expense, debt		16,907,000	20,365,000	54,316,000	59,997,000
Exit Financing Facilities [Member] | OIN Facilities [Member]
Debt Instrument [Line Items]
Interest expense, debt		9,212,000	11,013,000	29,488,000	31,823,000
Exit Financing Facilities [Member] | OBS Term Loan and OBS ABL Facility [Member]
Debt Instrument [Line Items]
Interest expense, debt		$ 7,695,000	$ 9,352,000	$ 24,828,000	$ 28,174,000

Debt (Unsecured Senior Notes) (

Debt (Unsecured Senior Notes) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Repayments of unsecured debt			$ 168,069	$ 101,092
Loss on repurchase of debt			(3,873)
Write off of deferred debt issuance cost			8,580
7.50% Notes due 2024 and 8.125% Notes due 2018 [Member]
Debt Instrument [Line Items]
Loss on repurchase of debt			(2,463)
Write off of deferred debt issuance cost			784
7.50% Notes due 2024 [Member]
Debt Instrument [Line Items]
Repayments of unsecured debt			$ 294
Debt instrument, interest rate, stated percentage	7.50%		7.50%		7.50%
Debt instrument, maturity date			Feb. 15, 2024
8.125% Notes due 2018 [Member]
Debt Instrument [Line Items]
Repayments of unsecured debt			$ 37,345
Debt instrument, interest rate, stated percentage	8.125%		8.125%		8.125%
Debt instrument, maturity date			Mar. 30, 2018
Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Interest expense, debt	$ 2,802	$ 8,636	$ 8,385	26,460
Interest paid, net	$ 4,695	$ 17,755	$ 9,564	$ 35,720

Debt (Composition of Debt) (Det

Debt (Composition of Debt) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Long-term debt	$ 981,743	$ 1,286,263
Less current portion	25,483	63,039
Long-term portion	956,260	1,223,224
8.125% Notes due 2018 [Member]
Long-term debt	79,951	115,450
Debt instrument, unamortized discount	$ 1,668	$ 3,514
Debt instrument, interest rate, stated percentage	8.125%	8.125%
Debt instrument, maturity date	Mar. 30, 2018
OBS Term Loan [Member]
Long-term debt	$ 461,719	$ 574,615
Debt instrument, unamortized discount	$ 12,569	19,340
Debt instrument, maturity date	Aug. 5, 2019
OIN Term Loan [Member]
Long-term debt	$ 439,390	595,222
Debt instrument, unamortized discount	$ 22,116	23,727
Debt instrument, maturity date	Aug. 5, 2019
7.50% Election 2 Notes due 2021 [Member]
Long-term debt	$ 293	292
Debt instrument, unamortized discount	$ 8	$ 9
Debt instrument, interest rate, stated percentage	7.50%	7.50%
Debt instrument, maturity date	Feb. 15, 2021
7.50% Notes due 2024 [Member]
Long-term debt	$ 390	$ 684
Debt instrument, interest rate, stated percentage	7.50%	7.50%
Debt instrument, maturity date	Feb. 15, 2024
Notes, Term Loans and Election Notes [Member]
Debt, weighted average interest rate	5.78%	5.81%

Debt (Schedule of Repurchases a

Debt (Schedule of Repurchases and Payments on Debt) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Debt Instrument [Line Items]
Payments and repurchases on long term debt	$ 271,049
Optional/Mandatory Prepayment [Member]
Debt Instrument [Line Items]
Payments and repurchases on long term debt	175,127
Open Market Purchases [Member]
Debt Instrument [Line Items]
Payments and repurchases on long term debt	95,922
OBS Term Loan [Member]
Debt Instrument [Line Items]
Payments and repurchases on long term debt	118,295
OBS Term Loan [Member] | Optional/Mandatory Prepayment [Member]
Debt Instrument [Line Items]
Payments and repurchases on long term debt	91,295
OBS Term Loan [Member] | Open Market Purchases [Member]
Debt Instrument [Line Items]
Payments and repurchases on long term debt	27,000
OIN Term Loan [Member]
Debt Instrument [Line Items]
Payments and repurchases on long term debt	152,754
OIN Term Loan [Member] | Optional/Mandatory Prepayment [Member]
Debt Instrument [Line Items]
Payments and repurchases on long term debt	83,832
OIN Term Loan [Member] | Open Market Purchases [Member]
Debt Instrument [Line Items]
Payments and repurchases on long term debt	$ 68,922

Taxes (Narrative) (Details)

Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Tax Contingency [Line Items]
Income tax benefit/(provision)	$ 49,775		$ 120,737	$ 1,288	$ 114,548
Effective income tax rate reconciliation, percent	34.00%		(229.00%)	7.00%	(72.00%)
Reserve for uncertain tax positions	$ 2,556	$ 2,520		$ 2,556		$ 2,520
Unrecognized tax benefits	2,556	2,520		2,556		2,520
Unrecognized tax benefits, interest on income taxes expense				738		$ 702
Proceeds from income tax refunds		$ 54,884
Internal Revenue Service (IRS) [Member]
Income Tax Contingency [Line Items]
Income tax benefit/(provision)			$ 150,073		$ 150,073
OSG International, Inc (OIN) [Member]
Income Tax Contingency [Line Items]
Income tax benefit/(provision)	15,319		$ (30,997)	(16,558)	$ (30,997)
Deferred tax liabilities, gross	$ 65,414			$ 65,414

Capital Stock and Stock Compe66

Capital Stock and Stock Compensation (Narrative) (Details) $ / shares in Units, $ in Thousands	Jul. 29, 2016USD ($)	Jun. 13, 2016	Dec. 17, 2015	Sep. 30, 2016USD ($)$ / shares	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2015USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period, value | $					$ 119,343
Severance costs | $				$ 2,238	$ 2,238	$ 5
Description of reverse stock split					on June 2, 2016 the Board approved an amendment (the "Reverse Split Amendment") to the Company's Amended and Restated Certificate of Incorporation. The Reverse Split Amendment effected a one (1) for six (6) reverse stock split and corresponding reduction of the number of authorized shares of common stock, par value $0.01 per share (the "Reverse Split"). The Reverse Split Amendment became effective on June 13, 2016
Description of stock conversion					effective May 27, 2016, all Class B common shares and Class B warrants automatically converted into one Class A common share and one Class A warrant, respectively
Stock split conversion ratio		0.16666
Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights					The average grant date fair value of the options was $4.83 per option. Stock options may not be transferred, pledged, assigned or otherwise encumbered prior to vesting. Each stock option will vest in equal installments on each of the first three anniversaries of the award date. The stock options expire on the business day immediately preceding the tenth anniversary of the award date. If a stock option grantee's employment is terminated for cause (as defined in the applicable Form of Grant Agreement), stock options (whether then vested or exercisable or not) will lapse and will not be exercisable. If a stock option grantee's employment is terminated for reasons other than cause, the option recipient may exercise the vested portion of the stock option but only within such period of time ending on the earlier to occur of (i) the 90th day ending after the option recipient's employment terminated and (ii) the expiration of the options, provided that if the Optionee's employment terminates for death or disability the vested portion of the option may be exercised until the earlier of (i) the first anniversary of employment termination and (ii) the expiration date of the options
President [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, plan modification, incremental compensation cost | $	$ 23
Accelerated compensation cost | $	820
Severance costs | $	$ 2,238
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares paid for tax withholding for share based compensation | shares					25,885
Shares paid for tax withholding for share based compensation, per share amount					$ 14.06
Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period, shares | shares					106,350
Stock repurchaed during period, per share amount					$ 12.23
Stock repurchased during period, value | $					$ 1,301
Stock issued during period, shares, conversion of convertible securities | shares					8,164,351	158,320
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01
Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period, shares, conversion of convertible securities | shares					7,833	427,972
Common stock, par value (in dollars per share)				0.01	$ 0.01
Common Class A and Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share ratio issued as dividend			0.10%
Management Incentive Compensation Plan [Member] | Time Based Restricted Stock [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted | shares					276,103
Granted, per share					$ 12.31
Management Incentive Compensation Plan [Member] | Performance Based Restricted Units [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted | shares					119,853
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights					Each performance stock unit represents a contingent right to receive RSUs based upon the covered employees being continuously employed through the end of the period over which the performance goals are measured and shall vest as follows: (i) one-third of the target RSUs shall vest on December 31, 2018, subject to OSG's three-year earnings per share ("EPS") performance in the three-year EPS performance period relative to a compounded annual growth rate (the "EPS Target") set forth in the award agreements; (ii) one-third of the target RSUs shall vest on December 31, 2018, subject to OSG's return on invested capital ("ROIC") performance in the three-year ROIC performance period relative to a target rate (the "ROIC Target") set forth in the award agreements; and (iii) one-third of the target RSUs will be subject to OSG's three-year total shareholder return ("TSR") performance relative to that of a performance peer group over a three-year TSR performance period ("TSR Target"). Vesting is subject in each case to the Human Resources and Compensation Committee's certification of achievement of the performance measures and targets no later than March 31, 2019. The EPS Target and ROIC Target are performance conditions which, as of September 30, 2016, management believes, are not yet considered probable of being achieved. Accordingly, for financial reporting purposes, no compensation costs will be recognized for these awards until it becomes probable that the performance conditions will be achieved.
Management Incentive Compensation Plan [Member] | Performance Based Restricted Units [Member] | Management [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted | shares					38,547
Granted, per share					$ 11.82
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights					Each performance stock unit represents a contingent right to receive RSUs based upon certain performance related goals being met and the covered employees being continuously employed through the end of the period over which the performance goals are measured. These performance awards will vest on December 31, 2016, subject in each case to the Human Resources and Compensation Committee's certification of achievement of the performance measures and targets no later than March 31, 2017.
Management Incentive Compensation Plan [Member] | TSR [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, per share					$ 11.82
Management Incentive Compensation Plan [Member] | Stock Compensation Plan [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, options | shares					449,689
Grants, options, per share					$ 4.83
Management Incentive Compensation Plan [Member] | Common Class A [Member] | Stock Compensation Plan [Member] | Minimum [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price				11.82	11.82
Management Incentive Compensation Plan [Member] | Common Class A [Member] | Stock Compensation Plan [Member] | Maximum [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Price				12.69	$ 12.69
Non-Employee Director Incentive Compensation Plan [Member] | Common Class A [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted | shares					65,769
Granted, per share					$ 11.86
Class A Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period, shares | shares					55,306,351
Stock repurchaed during period, per share amount					$ 11.31
Stock repurchased during period, value | $					$ 118,041
Conversion of stock, shares converted | shares					43,395,528	866,086
Coversion ratio reflecting reverse stock split					0.190
Class B Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of stock, shares converted | shares					46,997	2,339,934
Class A and Class B Warants [Member] | Common Class A and Common Class B [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01

Accumulated Other Comprehensi67

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Loss [Abstract]
Unrealized losses on derivative instruments, substantially entered into by the Company's equity method joint venture investees	$ (55,763)	$ (62,092)	$ (54,620)	$ (62,571)	$ (56,710)	$ (61,547)
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement benefit plans)	(17,492)	(17,842)	(18,841)	(21,641)	(22,111)	(21,833)
Accumulated other comprehensive loss	$ (73,255)	$ (79,934)	$ (73,461)	$ (84,212)	$ (78,821)	$ (83,380)

Accumulated Other Comprehensi68

Accumulated Other Comprehensive Loss (Changes in Components of AOCI, Net of Related Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Loss [Abstract]
Unrealized losses on cash flow hedges, Beginning Balance	$ (62,092)	$ (56,710)	$ (54,620)	$ (61,547)
Unrealized losses on cash flow hedges, Current period change excluding amounts reclassified from other comprehensive loss	2,267	(10,383)	(13,484)	(14,776)
Unrealized losses on cash flow hedges, Amounts reclassified from accumulated other comprehensive loss	4,062	4,522	12,341	13,752
Unrealized losses on cash flow hedges, Total change in accumulated other comprehensive loss	6,329	(5,861)	(1,143)	(1,024)
Unrealized losses on cash flow hedges, Ending Balance	(55,763)	(62,571)	(55,763)	(62,571)
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Beginning Balance	(17,842)	(22,111)	(18,841)	(21,833)
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	350	470	1,349	192
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Total change in accumulated other comprehensive loss	350	470	1,349	192
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement plans), Ending Balance	(17,492)	(21,641)	(17,492)	(21,641)
Beginning Balance	(79,934)	(78,821)	(73,461)	(83,380)
Current period change excluding amounts reclassified from other comprehensive loss	2,617	(9,913)	(12,135)	(14,584)
Amounts reclassified from accumulated other comprehensive loss	4,062	4,522	12,341	13,752
Total change in accumulated other comprehensive loss	6,679	(5,391)	206	(832)
Ending Balance	$ (73,255)	$ (84,212)	$ (73,255)	$ (84,212)

Accumulated Other Comprehensi69

Accumulated Other Comprehensive Loss (Amounts Reclassified out of AOCI) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Unrealized losses on cash flow hedges:
Total reclassification from AOCI	$ (4,062)	$ (4,522)	$ (12,341)	$ (13,752)
Equity in Income of Affiliated Companies [Member]
Unrealized losses on cash flow hedges:
Interest rate cap entered into by the Company's equity method joint venture investees	(3,804)	$ (4,522)	(11,949)	$ (13,752)
Interest Rate Cap [Member] | Interest Expense [Member]
Unrealized losses on cash flow hedges:
Interest rate cap entered into by the Company's equity method joint venture investees	$ (258)		$ (392)

Accumulated Other Comprehensi70

Accumulated Other Comprehensive Loss (Income Tax Expense Allocated to Each Component of Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gains/(losses) on cash flow hedges, Current period change excluding amounts reclassified from accumulated other comprehensive income	$ 2,267	$ (10,383)	$ (13,484)	$ (14,776)
Unrealized gains/(losses) on cash flow hedges, Amounts reclassified from accumulated other comprehensive income	(4,062)	(4,522)	(12,341)	(13,752)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Total	6,329	(5,861)	(1,143)	(1,024)
Items not yet recognized as a component of net periodic benefit cost, Current period change excluding amounts reclassified from accumulated other comprehensive income	350	470	1,349	192
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Total	350	470	1,349	192
Tax (Expense)/ Benefit [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gains/(losses) on cash flow hedges, Current period change excluding amounts reclassified from accumulated other comprehensive income	(36)	117	(18)	542
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax, Total	(36)	117	(18)	542
Items not yet recognized as a component of net periodic benefit cost, Current period change excluding amounts reclassified from accumulated other comprehensive income
Items not yet recognized as a component of net periodic benefit cost, Amounts reclassified from accumulated other comprehensive income
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Total

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)
Leases [Line Items]
Reorganization items, total	$ 5,732	$ 1,420	$ (11,318)	$ 6,344
Interest expense	20,126	29,191	63,337	86,691
Payments for restructuring	668	6,530	1,756	15,958
Operating leases, rent expense	$ 32,695	$ 31,993	95,231	$ 95,018
Office Space [Member]
Leases [Line Items]
Operating leases, rent expense			$ 998
Charter-In [Member]
Leases [Line Items]
Commitments to charter in vessels, Number of Units | property	17		17
Bareboat Charters-In [Member]
Leases [Line Items]
Commitments to charter in vessels, Number of Units | property	13		13
Time Charters-In [Member]
Leases [Line Items]
Commitments to charter in vessels, Number of Units | property	4		4
Charters-Out [Member]
Leases [Line Items]
Operating Leases, Future Minimum Payments Receivable, Current	$ 113,897		$ 113,897
Operating Leases, Future Minimum Payments Receivable, in Two Years	268,422		268,422
Operating Leases, Future Minimum Payments Receivable, in Three Years	147,905		147,905
Operating Leases, Future Minimum Payments Receivable, in Four Years	78,508		78,508
Operating Leases, Future Minimum Payments Receivable, in Five Years	43,766		43,766
Operating Leases, Future Minimum Payments Receivable, Thereafter	134,843		134,843
Charters-Out [Member] | Contracts of Affreightment [Member]
Leases [Line Items]
Operating Leases, Future Minimum Payments Receivable, Current	6,194		6,194
Operating Leases, Future Minimum Payments Receivable, in Two Years	23,015		23,015
Operating Leases, Future Minimum Payments Receivable, in Three Years	22,698		22,698
Operating Leases, Future Minimum Payments Receivable, in Four Years	23,031		23,031
Operating Leases, Future Minimum Payments Receivable, in Five Years	$ 6,356		$ 6,356

Leases (Bareboat and Time Chart

Leases (Bareboat and Time Charters-In) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Bareboat Charters-In [Member]
Leases [Line Items]
2,016	$ 24,822
2,017	98,219
2,018	93,200
2,019	111,819
2,020	9,168
Thereafter	41,007
Net minimum lease payments	$ 378,235
2016, operating days	1196 days
2017, operating days	4713 days
2018, operating days	3929 days
2019, operating days	3470 days
2020, operating days	366 days
Thereafter, operating days	1637 days
Operating days, total	15311 days
Time Charters-In [Member]
Leases [Line Items]
2,016	$ 7,727
2,017	14,571
2,018	730
Net minimum lease payments	$ 23,028
2016, operating days	712 days
2017, operating days	1354 days
2018, operating days	152 days
Operating days, total	2218 days

Leases (Future Minimum Revenues

Leases (Future Minimum Revenues on Charters-Out) (Details) - Charters-Out [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2,016	$ 113,897
2,017	268,422
2,018	147,905
2,019	78,508
2,020	43,766
Thereafter	134,843
Net minimum lease payments	$ 787,341
2016, revenue days	2622 days
2017, revenue days	5298 days
2018, revenue days	2098 days
2019, revenue days	938 days
2020, revenue days	532 days
Thereafter, revenue days	1575 days
Revenue Days	13063 days

Contingencies (Narrative) (Deta

Contingencies (Narrative) (Details) - USD ($) $ in Thousands	Apr. 05, 2016	Feb. 12, 2016	Aug. 05, 2015	Aug. 05, 2014	May 31, 2016	Sep. 30, 2016	Aug. 12, 2014
Loss Contingencies [Line Items]
Litigation settlement, received (paid)						$ 20,359
Proskauer Action [Member]
Loss Contingencies [Line Items]
Litigation recovery percentage expected to be disbursed to the class action plaintiffs	15.00%					15.00%
Litigation settlement, received (paid)	$ (2,136)	$ 20,359				$ (2,136)
Independent Registered Public Accounting Firm [Member]
Loss Contingencies [Line Items]
Estimated settlement to plaintiffs							$ 1,750
Former Officers and Directors [Member]
Loss Contingencies [Line Items]
Estimated settlement to plaintiffs							10,500
Former Underwriters [Member]
Loss Contingencies [Line Items]
Estimated settlement to plaintiffs							$ 4,000
Equity Plan [Member]
Loss Contingencies [Line Items]
Litigation settlement amount				$ (7,000)
Equity Plan [Member] | Final Order [Member]
Loss Contingencies [Line Items]
Litigation settlement amount	$ (5,000)
Equity Plan [Member] | Proskauer Action [Member]
Loss Contingencies [Line Items]
Litigation settlement amount			$ (3,000)
Equity Plan [Member] | SEC Investigation [Member]
Loss Contingencies [Line Items]
Litigation reserve						$ 5,000
Class B Warrant [Member] | Proskauer Action [Member] | Common Class B [Member]
Loss Contingencies [Line Items]
Litigation recovery percentage expected to be disbursed to the class action plaintiffs					10.00%
Reorganization items					$ 1,423

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details)	Nov. 08, 2016	Sep. 30, 2016
Subsequent Event [Line Items]
Subsequent event, description		On November 8, 2016, OSG announced that the record date for the previously announced spin-off of its International flag business – INSW – will be November 18, 2016. The spin-off is expected to be effective as of 5:00 p.m. on November 30, 2016, the distribution date for the spin-off, with 100 percent of the shares of INSW distributed to OSG shareholders and warrantholders. The spin-off and the distribution of INSW common stock is subject to the SEC having declared effective INSW's registration statement on Form 10. In addition, the spin-off is subject to conditions set forth in a Separation and Distribution Agreement between OSG and INSW, the form of which is filed as an exhibit to INSW's registration statement on Form 10.
Subsequent Event [Member]
Subsequent Event [Line Items]
Subsequent event, date	Nov. 8, 2016