Overseas Shipholding Group, Inc. - Ordinary Shares (OSG) 10-Q 9 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 04, 2017
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		75,034,126
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 204,575	$ 191,089
Restricted cash	5,935	7,272
Voyage receivables, including unbilled of $5,887 and $12,593	20,819	23,456
Income tax receivable	381	877
Receivable from INSW	506	683
Other receivables	17,745	2,696
Inventories, prepaid expenses and other current assets	11,542	12,243
Total Current Assets	261,503	238,316
Restricted cash - non current		8,572
Vessels and other property, less accumulated depreciation of $233,241 and $213,173	664,411	684,468
Deferred drydock expenditures, net	25,697	31,172
Total Vessels, Deferred Drydock and Other Property	690,108	715,640
Investments in and advances to affiliated companies	38	3,694
Intangible assets, less accumulated amortization of $48,683 and $46,383	43,317	45,617
Other assets	22,481	18,658
Total Assets	1,017,447	1,030,497
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	44,029	57,222
Income taxes payable	1,990	306
Current installments of long-term debt	86,579
Total Current Liabilities	132,598	57,528
Reserve for uncertain tax positions	3,175	3,129
Long-term debt, noncurrent	422,147	525,082
Deferred income taxes, net	143,777	141,457
Other liabilities	51,455	48,969
Total Liabilities	753,152	776,165
Equity:
Common stock	753	702
Paid-in additional capital	584,112	583,526
Accumulated deficit	(313,095)	(321,736)
Stockholders Equity Subtotal	271,770	262,492
Accumulated other comprehensive loss	(7,475)	(8,160)
Total Equity	264,295	254,332
Total Liabilities and Equity	$ 1,017,447	$ 1,030,497

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
CONSOLIDATED BALANCE SHEETS [Abstract]
Unbilled contracts receivable (in dollars)	$ 5,887	$ 12,593
Vessels and other property, accumulated depreciation	233,241	213,173
Intangible Assets, accumulated amortization	$ 48,683	$ 46,383

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016		Jun. 30, 2017	Jun. 30, 2016
Shipping Revenues:
Time and bareboat charter revenues		$ 72,116	$ 97,413		$ 151,883	$ 196,103
Voyage charter revenues		24,109	20,971		52,458	37,361
Shipping revenues		96,225	118,384		204,341	233,464
Operating Expenses:
Voyage expenses		5,149	3,643		10,941	6,510
Vessel expenses		32,564	34,610		68,173	70,514
Charter hire expenses		22,856	22,884		45,433	45,726
Depreciation and amortization		15,086	22,672		31,711	45,796
General and administrative		6,350	11,540		14,604	24,496
Total Operating Expenses		82,005	95,349		170,862	193,042
Operating income		14,220	23,035		33,479	40,422
Other (expense)/income		38	(422)		(630)	736
Income before interest expense, reorganization items and income taxes		14,258	22,613		32,849	41,158
Interest expense		(9,445)	(10,862)		(18,802)	(22,779)
Income before reorganization items and income taxes		4,813	11,751		14,047	18,379
Reorganization items, net		(9)	(861)		(244)	17,050
Income from continuing operations before income taxes		4,804	10,890		13,803	35,429
Income tax provision from continuing operations		(1,593)	(15,075)		(5,162)	(48,310)
Income/(loss) from continuing operations	[1]	3,211	(4,185)	[2]	8,641	(12,881)	[2]
Income from discontinued operations	[1]		34,045			93,481
Net income	[1]	$ 3,211	$ 29,860		$ 8,641	$ 80,600
Common Class A [Member]
Weighted Average Number of Common Shares Outstanding:
Weighted average common shares outstanding, basic	[1]	87,769,483	92,255,692		88,309,231	93,496,651
Weighted average common shares outstanding, diluted	[1]	87,964,755	92,321,359		88,542,779	93,531,462
Per Share Amounts:
Basic and Diluted net (loss)/income Continuing operations		$ 0.04	$ (0.04)		$ 0.10	$ (0.13)
Basic and Diluted net income per share, Discontinued operations			0.35			0.97
Basic net income		0.04	0.31		0.10	0.84
Diluted net income		$ 0.04	$ 0.32		$ 0.10	0.85
Cash dividends declared						$ 0.48
Common Class B [Member]
Weighted Average Number of Common Shares Outstanding:
Basic and Diluted (in shares)	[1]		826,794			1,073,382
Per Share Amounts:
Basic and Diluted net (loss)/income Continuing operations			$ (0.27)			$ (0.35)
Basic and Diluted net income per share, Discontinued operations			2.19			2.56
Basic and Diluted net income			1.92			2.21
Cash dividends declared			$ 1.08			$ 1.56
[1]	For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared.
[2]	The 2016 loss allocated to Class B common stockholders includes amounts equivalent to the special cash dividends declared on the Class B common stock shares.

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net Income	[1]	$ 3,211	$ 29,860	$ 8,641	$ 80,600
Other Comprehensive Income/(Loss), net of tax:
Net change in unrealized gains/(losses) on cash flow hedges		202	15	350	(33)
Defined benefit pension and other postretirement benefit plans:
Net change in unrecognized actuarial losses		335		335
Other Comprehensive Income/(Loss), net of tax		537	15	685	(33)
Comprehensive Income		$ 3,748	$ 29,875	$ 9,326	$ 80,567
[1]	For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared.

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities:
Net Income	[1]	$ 8,641	$ 80,600
Income from discontinued operations	[1]		93,481
Net income/(loss) from continuing operations	[1]	8,641	(12,881)	[2]
Items included in net income/(loss) from continuing operations not affecting cash flows:
Depreciation and amortization		31,711	45,796
Amortization of debt discount and other deferred financing costs		2,653	3,190
Compensation relating to restricted stock/stock unit and stock option grants		1,699	1,804
Deferred income tax benefit		2,121	45,666
Reorganization items, non-cash		85	327
Discount on repurchase of debt		(925)	(3,415)
Other - net		1,481	1,176
Items included in net (loss)/income related to investing and financing activities:
Distributions from INSW			102,000
Distributed earnings of affiliated companies		3,656	3,789
Payments for drydocking		(3,305)	(4,588)
SEC, Bankruptcy and IRS claim payments		(5,000)	(7,136)
Changes in operating assets and liabilities		(19,084)	7,349
Net cash provided by operating activities		23,733	183,077
Cash Flows from Investing Activities:
Change in restricted cash		9,909	4,994
Expenditures for vessels and vessel improvements			(58)
Expenditures for other property		(11)	(265)
Net cash provided by investing activities		9,898	4,671
Cash Flows from Financing Activities:
Cash dividends paid			(31,910)
Payments on debt			(43,879)
Extinguishment of debt		(19,083)	(52,667)
Repurchases of common stock and common stock warrants			(76,388)
Tax withholding on share-based awards		(1,062)
Net cash used in financing activities		(20,145)	(204,844)
Net increase/(decrease) in cash and cash equivalents from continuing operations		13,486	(17,096)
Cash and cash equivalents at beginning of period		191,089	193,978
Cash and cash equivalents at end of period		$ 204,575	176,882
Cash flows from discontinued operations:
Cash flows provided by operating activities			122,764
Cash flows used in investing activities			26,464
Cash flows used in financing activities			(179,141)
Net decrease in cash and cash equivalents from discontinued operations			$ (29,913)
[1]	For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared.
[2]	The 2016 loss allocated to Class B common stockholders includes amounts equivalent to the special cash dividends declared on the Class B common stock shares.

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands		Class A Warrant [Member]	Common Stock [Member]	[2]	Additional Paid-in Capital [Member]Common Class A [Member]	[3]	Additional Paid-in Capital [Member]	[3]	Retained Earnings / (Accumulated deficit) [Member]	Accumulated Other Comprehensive Loss [Member]		Common Class A [Member]	Total
Balance, beginning at Dec. 31, 2015										$ (73,461)
Net Income	[1]												$ 80,600
Other comprehensive income													(33)
Repurchase of Warrants and Common Stock		$ (75,347)										$ (1,301)
Balance, ending at Jun. 30, 2016										(9,412)
Balance, beginning at Mar. 31, 2016										(9,428)
Net Income	[1]												29,860
Other comprehensive income													15
Balance, ending at Jun. 30, 2016										(9,412)
Balance, beginning at Dec. 31, 2016			$ 702				$ 583,526		$ (321,736)	(8,160)	[4]		254,332
Net Income									8,641				8,641	[1]
Other comprehensive income										685	[4]		685
Forfeitures, cancellations, issuance and vesting of restricted stock awards, net			4				(1,066)						(1,062)
Compensation related to Class A options granted and restricted stock awards					$ 1,699							$ 1,699
Conversion of Warrants to Common Stock			47				(47)
Balance, ending at Jun. 30, 2017			753				584,112		(313,095)	(7,475)	[4]		264,295
Balance, beginning at Mar. 31, 2017										(8,012)
Net Income	[1]												3,211
Other comprehensive income													537
Balance, ending at Jun. 30, 2017			$ 753				$ 584,112		$ (313,095)	$ (7,475)	[4]		$ 264,295
[1]	For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared.
[2]	Par value $0.01 per share; 166,666,666 Class A shares authorized; 75,034,126 Class A shares outstanding as of June 30, 2017.
[3]	Includes 66,950,446 outstanding Class A warrants as of June 30, 2017.
[4]	Amounts are net of tax

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	166,666,666	166,666,666
Common stock, shares, outstanding	75,034,126
Class A Warrant [Member]
Class of warrant or right, outstanding	66,950,446

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2017
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 U.S. Flag trades. The Company manages the operations of its fleet through its wholly owned subsidiary, OSG Bulk Ships, Inc. (“OBS”), a New York corporation. 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 six months ended June 30, 2017, are not necessarily indicative of the results that may be expected for the year ending December 31, 2017. The condensed consolidated balance sheet as of December 31, 2016 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 the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 (“Form 10-K”). On November 30, 2016 (the “Distribution Date”), OSG completed the separation of its business into two independent publicly traded companies through the spin-off of its then wholly-owned subsidiary International Seaways, Inc. (“INSW”). The spin-off separated OSG and INSW into two distinct businesses with separate managements. OSG retained the U.S. Flag business and INSW holds entities and other assets and liabilities that formed OSG’s former International Flag business.  The spin-off transaction was in the form of a pro rata distribution of INSW’s common stock to our stockholders and warrant holders of record as of 5:00 p.m., New York time on November 18, 2016 (the “Record Date”). On the Distribution Date, each holder of OSG common stock received 0.3333 shares of INSW’s common stock for every share of OSG common stock held on the Record Date. Each holder of OSG warrants received 0.3333 shares of INSW’s common stock for every one share of OSG common stock they would have received if they exercised their warrants immediately prior to the Distribution (or 0.063327 INSW shares per warrant).  The spin-off was completed pursuant to a Separation and Distribution Agreement and several other agreements with INSW related to the spin-off, including a Transition Services Agreement and an Employee Matters Agreement. These agreements govern the relationship between us and INSW following the spin-off and provide for the allocation of various assets, liabilities, rights and obligations. These agreements also include arrangements for transition services to be provided by OSG to INSW and by INSW to OSG.  The Company’s Board of Directors (the “Board”) approved a stock dividend of Class A common stock, whereby on December 17, 2015 , all stockholders 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, effective May 27, 2016, each Class B common share and Class B warrant 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-for- six 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 .

Chapter 11 Filing and Emergence

Chapter 11 Filing and Emergence from Bankruptcy	6 Months Ended
	Jun. 30, 2017
CHAPTER 11 FILING & EMERGENCE FROM BANKRUPTCY [Abstract]
Chapter 11 Filing and Emergence from Bankruptcy	Note 2 — Chapter 11 Filing and Emergence from Bankruptcy: In October 2012, the Company disclosed that its Audit Committee, 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 against the Company. Also named as defendants were 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, and certain Company representatives.  On November 14, 2012 (the “Petition Date”), the Parent Company and 180 of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). On August 5, 2014, a plan of reorganization (the “Equity Plan”) became effective and OSG emerged from bankruptcy.  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 Equity Plan. Under the terms of that settlement, the Equity Plan provided for full satisfaction of claims through the payment of (i) $7,000 in cash, which was paid on August 5, 2014, (ii) $3,000 in cash, which was paid 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.  On January 23, 2017, the SEC commenced an administrative proceeding, with the Company’s consent, that fully resolved an SEC investigation that was initiated in connection with the Company’s earnings restatement announced in 2012. The Company neither admitted nor denied the SEC’s allegations that the Company violated certain provisions of the Securities Act, the Exchange Act and related rules. After receiving Bankruptcy Court approval, the Company paid a $5,000 civil penalty relating to the investigation in February 2017, which was fully accrued as of December 31, 2016. The settlement with the SEC does not require any further changes to the Company’s historical financial statements. 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 February 10, 2017, pursuant to a final decree and order of the Bankruptcy Court, OSG’s one remaining case, as the Parent Company, was closed. 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 Six Months Ended  June 30, June 30,  2017 2016 2017 2016  Trustee fees $ - $ 30 $ 5 $ 60  Professional fees 9 744 239 1,027  Litigation settlement, net - - (20,359)  Litigation settlement due to class action plaintiffs - - - 2,136  Litigation settlement due to Class B warrant holders - 87 - 86  $ 9 $ 861 $ 244 $ (17,050)   On February 12, 2016, the Company entered into an agreement with Proskauer Rose, LLP and four of its partners (“Proskauer Plaintiffs”) to settle a 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 six months ended June 30, 2016 are included in litigation settlement, net in the table above.  In addition, 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 during the six months ended June 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 through the date of settlement. Further, as required by the Equity Plan, the Company’s Amended and Restated 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 stockholders 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 stockholders and was recorded as a reduction of retained earnings as of June 30, 2016.  Cash paid for reorganization items, excluding the SEC and Proskauer related settlement amounts noted above, were $135 and $159 for the three and six month periods ended June 30, 2017, respectively, and $562 and $1,088 for the three and six month periods ended June 30, 2016, respectively.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Significant Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 — Recently Issued Accounting Standards  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. As of June 30, 2017, the contractual obligations for the Company’s leased vessels was approximately $301,000 .  In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606 ) to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. 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. 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 will apply the modified retrospective transition method and is currently analyzing the impact of the adoption of this guidance on the Company’s consolidated financial statements, including developing a comprehensive implementation plan and 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	6 Months Ended
	Jun. 30, 2017
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.  On June 2, 2016, the Board approved the Reverse Split Amendment to the Company’s Amended and Restated Certificate of Incorporation. The Reverse Split Amendment effected the Reverse Split. The Reverse Split Amendment became effective on June 13, 2016.  Class A  There were 125,145 and 99,814 weighted average shares of unvested Class A restricted common stock shares considered to be participating securities for the three and six month periods ended June 30, 2017, respectively, and 38,697 and 40,577 weighted average shares of unvested Class A restricted common stock shares considered to be participating securities for the three and six month periods ended June 30, 2016, respectively. Such participating securities were allocated a portion of income under the two-class method for the three and six months ended June 30, 2017 and 2016. The computation of diluted earnings per share assumes the issuance of common stock for all potentially dilutive stock options and restricted stock units not classified as participating securities. As of June 30, 2017, there were 430,633 shares of Class A restricted stock units and 384,084 Class A stock options outstanding and considered to be potentially dilutive securities. As of June 30, 2016, there were 489,282 shares of Class A restricted stock units and 587,607 Class A stock options outstanding and 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 Class B shares were all converted to Class A shares in May 2016.  The components of the calculation of basic earnings per share and diluted earnings per share are as follows:    Three Months Ended Six Months Ended  June 30, June 30,  2017 2016 2017 2016   Income/(loss) from continuing operations $ 3,211 $ (4,185) $ 8,641 $ (12,881)  Income/(loss) from discontinued operations - 34,045 - 93,481  Net income $ 3,211 - $ 29,860 $ 8,641 - $ 80,600     Weighted average common shares outstanding:  Class A common stock - basic 87,769,483 92,255,692 88,309,231 93,496,651  Class A common stock - diluted 87,964,755 92,321,359 88,542,779 93,531,462  Class B common stock - basic and diluted - 826,794 - 1,073,382    (1) For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared. (2) The 2016 loss allocated to Class B common stockholders includes amounts equivalent to the special cash dividends declared on the Class B common stock shares.  For the three and six months ended June 30, 2017, there were 195,272 and 233,548 , respectively, dilutive equity awards outstanding and for the three and six months ended June 30, 2016 , there were 65,667 and 34,811 , respectively, dilutive equity awards outstanding. Awards of 687,505 and 877,271 (which inc ludes restricted stock units and stock options) for the three and six months ended June 30, 2017 were not included in the computation of diluted earnings per share because inclusion of these awards would be anti-dilutive.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2017
DISCONTINUED OPERATIONS [Abstract]
Discontinued Operations	Note 5 — Discontinued Operations:  As discussed in Note 1, on November 30, 2016 the Company completed the separation of its business into two independent publicly-traded companies through the spin-off of INSW. In connection with the spin-off, OSG and INSW entered into a number of agreements that provide a framework for governing the relationships between the parties going forward.  Separation and Distribution Agreement  OSG entered into a separation and distribution agreement (the “Separation and Distribution Agreement”) with INSW, which among other things, sets forth other agreements that govern the aspects of the relationship as follows.  Transfer of Assets and Assumption of Liabilities. The Separation and Distribution Agreement identified certain transfers of assets and assumptions of liabilities that were necessary in advance of the spin-off of INSW from OSG so that OSG and INSW retained the assets of, and the liabilities associated with, their respective businesses. The Separation and Distribution Agreement also provided for the settlement or extinguishment of certain liabilities and other obligations between OSG and INSW.  Legal Matters and Claims; Sharing of Certain Liabilities. Subject to any specified exceptions, each party to the Separation and Distribution Agreement has assumed the liability for, and control of, all pending and threatened legal matters related to its own business, as well as assumed or retained liabilities, and has indemnified the other party for any liability arising out of or resulting from such assumed legal matters. Other Matters. In addition to those matters discussed above, the Separation and Distribution Agreement, among other things, (i) governs the transfer of assets and liabilities generally, (ii) terminates all intercompany arrangements between OSG and INSW except for specified agreements and arrangements that follow the Distribution, (iii) contains further assurances, terms and conditions that require OSG and INSW to use commercially reasonable efforts to consummate the transactions contemplated by the Separation and Distribution Agreement and the ancillary agreements, (iv) releases certain claims between the parties and their affiliates, successors and assigns, (v) contains mutual indemnification clauses and (vi) allocates expenses of the spin-off between the parties. Transition Services Agreement  OSG and INSW entered into a transition services agreement (the “TSA” or “Transition Services Agreement”) pursuant to which both parties agreed to provide each other with specified services for a limited time to help ensure an orderly transition following the Distribution. The Transition Services Agreement specifies the calculation of the costs for these services. Pursuant to the terms of the agreement, OSG will provide certain administrative services, including administrative support services related to benefit plans, human resources and legal services, for a transitional period after the spin-off. Similarly, INSW has agreed to provide certain limited transition services to OSG, including services relating to accounting activities and information and data provision services. The Transition Services Agreement will terminate 30 days after the expiration or termination of all of the services provided thereunder, which are generally provided for a maximum period of three to six months. During Q2 2017, this agreement terminated.  Employee Matters Agreement  OSG and INSW entered into an employee matters agreement (the “Employee Matters Agreement”), which addresses the allocation and treatment of assets and liabilities relating to employees and compensation and benefit plans and programs in which INSW employees participated, including equity incentive plans. The Employee Matters Agreement also governs the transfer of employees between OSG and INSW in co nnection with the Distribution and set forth certain obligations for reimbursements and indemnities between OSG and INSW. During Q2 2017, this agreement terminated.  Results of Discontinued Operations  The table below presents statements of operations data for INSW, which has been classified as discontinued operations for the three and six months ended June 30, 2016.       Three Months Ended June 30, 2016 Six Months Ended June 30, 2016  Shipping revenues:  Pool revenues $ 66,706 $ 157,234  Time and bareboat charter revenues 28,660 50,343  Voyage charter revenues 7,698 24,161  103,064 231,738  Operating expenses:  Voyage expenses 2,107 6,074  Vessel expenses 34,400 69,538  Charter hire expenses 8,595 16,810  Depreciation and amortization 19,920 39,880  General and administrative 4,853 9,140  Spin-off related costs 1,090 1,223  Gain on disposal of vessels and other property, including impairments - (172)  Total Operating Expenses 70,965 142,493  Income from Vessel Operations 32,099 89,245  Equity in Income of Affiliated Companies 11,985 23,606  Operating Income 44,084 112,851  Other Income (176) 1,239  Income before Interest Expense, Reorganization Items and Taxes 43,908 114,090  Interest expense 9,690 20,432  Income before Reorganization Items and Income Taxes 34,218 93,658  Reorganization Items, net - -  Income before Income Taxes 34,218 93,658  Income Tax Provision 173 177  Net Income $ 34,045 $ 93,481   Corporate administrative expenses, employee compensation and benefits related costs, and depreciation for certain administrative fixed assets were allocated to INSW through June 30, 2016, in accordance with the " Shared Services and Cost Sharing Agreement" and the "Cost Sharing Agreement" by and among, OSG, INSW and OBS. However, in accordance with the accounting standards for discontinued operations, only costs directly attributable to INSW are to be reported in the results from discontinued operations. As such, the allocated costs in the table above will differ from the costs allocated to INSW (and reported or to be reported by INSW) in accordance with the aforementioned cost sharing agreements as discussed further in Note 10, “Related Parties.” Total indirect costs allocated to INSW that are included in continuing operations in the consolidated statement of operations were $2,606 and $6,236 for the three and six months ended June 30, 2016, respectively.

Vessels

Vessels	6 Months Ended
	Jun. 30, 2017
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 December 31, 2016 that could indicate that the carrying amounts of the vessels in the Company’s fleet may not be recoverable as of June 30, 2017. The Company concluded that no such events or changes in circumstances had occurred. Vessel Sales and Acquisitions There were no vessels sold or acquired during the three and six months ended June 30, 2017 or 2016. 

Fair Value of Financial Instrum

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures	6 Months Ended
	Jun. 30, 2017
Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures	Note 7 — 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 are estimated based on quoted market prices.  Interest rate caps— The fair values of interest rate caps are the estimated amounts that the Company would receive or pay to terminate the 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 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities 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:     Carrying Fair Value  Value Level 1 Level 2  June 30, 2017:  Assets  Cash (1) $ 210,510 $ 210,510 $ -  Total $ 210,510 $ 210,510 $ -  Liabilities  8.125% notes due 2018 $ 61,872 $ - $ 64,412  OBS Term loan 446,170 - 432,524  7.5% Election 2 notes due 2021 294 - 308  7.5% notes due 2024 390 - 380  Total $ 508,726 $ - $ 497,624    Carrying Fair Value  Value Level 1 Level 2  December 31, 2016:  Assets  Cash (1) $ 206,933 $ 206,933 $ -  Total $ 206,933 $ 206,933 $ -  Liabilities  8.125% notes due 2018 $ 80,213 $ - $ 84,935  OBS Term loan 444,186 - 442,199  7.5% Election 2 notes due 2021 293 - 303  7.5% notes due 2024 390 - 392  Total $ 525,082 $ - $ 527,829 (1) Includes current and non-current restricted cash aggregating $5,935 and $15,844 at June 30, 2017 and December 31, 2016, respectively. Derivatives Interest Rate Risk The Company manages its exposure to interest rate volatility risks by using interest rate caps and swap derivative instruments. At June 30, 2017, OBS was a party to an interest rate cap agreement (“Interest Rate Cap”) with a start date of February 5, 2015 with a major financial institution covering a notional amount of $375,000 to limit the floating interest rate exposure associated with the OBS Term Loan. The Interest Rate Cap was designated and qualified as a cash flow hedge and contains no leverage features. The Interest Rate Cap had a cap rate of 2.5% through February 5, 2017, at which time the cap rate increased to 3.0% through the termination date of February 5, 2018 .  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) for the three and six months ended June 30, 2017 and 2016 is as follows:    Three Months Ended  June 30,  2017 2016  Interest Rate Cap of continuing operations $ (202) $ (15)  Interest Rate Cap of discontinued operations - 1  Interest rate swaps of discontinued operations - (4,463)   Total $ (202) $ (4,477)   Six Months Ended  June 30,  2017 2016  Interest Rate Cap of continuing operations $ 669 $ 1,207  Interest Rate Cap of discontinued operations - (1,307)  Interest rate swaps of discontinued operations - (15,669)   Total $ 669 $ (15,769)  The effect of cash flow hedging relationships on the unaudited condensed consolidated statement of operations excludes hedges of equity method investees. The effect of the Company’s cash flow hedging relationships on the unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2017 were $317 and $551 , respectively, and $105 and $133 for the three and six months ended June 30, 2016, respectively. These amounts represented the effective portion of loss reclassified from accumulated other comprehensive loss for interest expense associated with the Company’s interest rate caps. The amount of estimated unrealized losses that are expected to be reclassified from accumulated other comprehensive loss for interest expense associated with the Company’s interest rate caps in the next twelve months is $1,052 . See Note 12, “Accumulated Other Comprehensive Loss,” for disclosures relating to the impact of derivative instruments on accumulated other comprehensive loss.  At June 30, 2017 and December 31, 2016, the Company did not have any financial instruments categorized in the Level 3 fair value hierarchy. 

Debt

Debt	6 Months Ended
	Jun. 30, 2017
Debt [Abstract]
Debt	Note 8 — Debt: Exit Financing Facilities Capitalized terms used hereafter in this Note 8 have the meanings given in this Quarterly Report on Form 10-Q or in the Company’s 2016 Annual Report on Form 10-K or in the respective transaction documents referred to below, including subsequent amendments thereto.  On the Effective Date, to support the Equity Plan, OSG and its subsidiaries entered into secured debt facilities consisting of: (i) a secured asset-based revolving loan facility of $75,000 , among the Parent Company, OBS, certain OBS subsidiaries, Wells Fargo Bank, National Association (“Wells Fargo”) as Administrative Agent, and the other lenders party thereto (the “OBS ABL Facility”), secured by a first lien on substantially all of the U.S. Flag assets of OBS and its subsidiaries and a second lien on certain other specified U.S. Flag assets and (ii) a secured term loan of $603,000 , among the Parent Company, OBS, certain OBS subsidiaries, Jefferies Finance LLC (“Jefferies”), as Administrative Agent, and other lenders party thereto (the “OBS Term Loan”), secured by a first lien on certain specified U.S. Flag assets of OBS and its subsidiaries and a second lien on substantially all of the other U.S. Flag assets of OBS and its subsidiaries. On August 5, 2014, the available amounts under the OBS Term Loan were drawn in full and as of June 30, 2017, no amounts had been drawn under the OBS ABL Facility.  The OBS Term Loan amortizes 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. However, due to a $20,000 prepayment made on May 16, 2016, the Company is no longer required to make the 1% annualized principal payments. The OBS Term Loan 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 facility. The OBS Term Loan is 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 six months ended June 30, 2017 and has projected the amount of Excess Cash Flow for the twelve months ended December 31, 2017 . The mandatory prepayment, which is estimated to be approximately $24,714 will be due during the first quarter of 2018, and is therefore included in current installments of long-term debt on the condensed consolidated balance sheet as of June 30, 2017. The Exit Financing Facilities also contain certain restrictions relating to new borrowings, and the movement of funds between OBS 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 is restricted under the Exit Financing Facilities. The Available Amount for cash dividends, loans or advances to the Parent Company permitted under the OBS Term Loan was $43,592 as of June 30, 2017. 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. To remain in compliance with the OBS ABL Facility, the Company’s plan, as of June 30, 2017, is to pay off or refinance the outstanding balance on its 8.125% unsecured notes by December 29, 2017.  Unsecured Senior Notes During the six months ended June 30, 2017, the Company repurchased and retired an aggregate principal amount of $19,083 of its 8.125% notes due 2018. The aggregate loss of $1,189 realized on this transaction during the six months ended June 30, 2017, is included in other (expense)/ income in the condensed consolidated statements of operations. The net loss reflects a $264 write-off of unamortized deferred finance costs associated with the repurchased debt.

Taxes

Taxes	6 Months Ended
	Jun. 30, 2017
Taxes [Abstract]
Taxes	Note 9 — Taxes:  For the three months ended June 30, 2017 and 2016, the Company recorded income tax provisions of $1,593 and $15,075 , respectively, which represent effective tax rates of 33% and 138% , respectively. For the six months ended June 30, 2017 and 2016, the Company recorded income tax provisions of $5,162 and $48,310 , respectively, which represent effective tax rates of 37% and 136% respectively. The effective tax rate for the six months ending June 30, 2017 is greater than the statutory rate primarily as a result of an income tax provision resulting from stock compensation pursuant to ASU 2016-09 offset in part by the non-taxability of income subject to U.S. tonnage tax. The effective tax rate for the six months ending June 30, 2016 is greater than the statutory rate primarily as a result of management’s determination that, prior to the spin-off of INSW, the Company could not make an assertion that OSG’s investment in INSW was essentially permanent in duration and recorded a deferred tax liability for INSW’s 2016 earnings. As of June 30, 2017 and December 31, 2016, the Company recorded a noncurrent reserve for uncertain tax positions of $3,175 and $3,129 , respectively, after taking into consideration tax attributes, such as net operating loss carryforwards, and accrued interest of $806 and $760 , respectively.  The Company is currently undergoing an examination by the Internal Revenue Service of its 2012 through 2015 tax returns. As of June 30, 2017, the IRS has not proposed any adjustments and continues to issue Information Document Requests.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2017
Related Parties [Abstract]
Related Parties	Note 10 — Related Parties:  Equity Method Investment  Investment in affiliated company is comprised of the Company’s 37.5% interest in Alaska Tanker Company, LLC, which manages vessels carrying Alaskan crude for BP. In the first quarter of 1999, OSG, BP, and Keystone Shipping Company formed Alaska Tanker Company, LLC (“ATC”) to manage the vess els carrying crude oil for BP. ATC provides marine transportation services in the environmentally sens itive Alaskan crude oil trade. Each member in ATC is entitled to receive its respective share of any incentive charter hire payable by BP to ATC.  Transition Services Agreement and Other Spin-off Related Activity  During the three and six months ended June 30, 2017, OSG earned fees totaling $49 and $126 for services provided to INSW and , during the three and six months ended June 30, 2017, incurred fees totaling $2 and $53 for services received from INSW, pursuant to the terms of the Transition Services Agreement.  Receivables from INSW aggregating $506 and $683 as of June 30, 2017 and December 31, 2016, respectively, were primarily in relation to the spin-related agreements (Transition Services, Separation and Distribution and Employee Matters Agreements) between OSG and INSW, as described in Note 5, “Discontinued Operations.” Guarantees INSW entered into guarantee arrangements in connection with the spin-off on November 30, 2016, in favor of Qatar Liquefied Gas Company Limited (2) (“LNG Charterer”) and relating to certain LNG Tanker Time Charter Party Agreements with the LNG Charterer and each of Overseas LNG H1 Corporation, Overseas LNG H2 Corporation, Overseas LNG S1 Corporation and Overseas LNG S2 Corporation (such agreements, the “LNG Charter Party Agreements,” and such guarantees, collectively, the “LNG Performance Guarantees”).  OSG continues to provide a guarantee in favor of the LNG Charterer relating to the LNG Charter Party Agreements (such guarantees, the ‘‘OSG LNG Performance Guarantee’’). INSW will indemnify OSG for liabilities arising from the OSG LNG Performance Guarantees pursuant to the terms of the Separation and Distribution Agreement. In connection with the OSG LNG Performance Guarantees, INSW will pay a $125 fee per year to OSG, which is subject to escalation after 2017 and will be terminated if OSG ceases to provide the OSG LNG Performance Guarantee . The maximum potential liability of the guarantee is $30,235 .

Capital Stock and Stock Compens

Capital Stock and Stock Compensation	6 Months Ended
	Jun. 30, 2017
Capital Stock and Stock Compensation [Abstract]
Capital Stock and Stock Compensation	Note 11 — Capital Stock and Stock Compensation:  Share and Warrant Repurchases  During the six months ended June 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 six months ended June 30, 2016, the Company repurchased 33,326,716 Class A warrants in private transactions with non-affiliates at an average per share equivalent cost of $12.05 for a total cost of $75,347 .  In connection with the vesting of restricted stock units during the six months ended June 30, 2016, the Company repurchased 22,113 shares of Class A common stock at an average cost of $14.67 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 six months ended June 30, 2017, the Company issued 4,477,726 shares of Class A common stock as a result of the exercise of 23,625,925 Class A warrants. During the six months ended June 30, 2016, the Company issued 6,604,494 shares of Class A common stock and 7,833 shares of Class B common stock as a result of the exercise of 35,178,898 Class A warrants and 46,997 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 253,700 restricted Class A common stock shares during the three and six months ended June 30, 2017 to its non-employee directors. At the annual shareholders meeting during Q2 2017, the Company’s shareholders approved to increase this award by 1,500 shares. The weighted average grant date fair value of the Company’s stock on the measurement date of such awards was $2.68 per sha re. During the three and six months ended June 30, 2016, the Company awarded a total of 65,769 restricted Class A common stock shares 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 the first anniversary of the grant date, 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 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 three and six months ended June 30, 2017, the Company respectively granted 0 and 165,010 time-based restricted stock units (“RSUs”) to its employees, including senior officers. The average grant date fair value of these awards was $4.04 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 three and six months ended June 30, 2017, the Company respectively awarded 0 and 63,532 performance-based RSUs to its senior officers. Each performance stock unit represents a contingent right to receive RSUs based upon continuous employment through the end of the three -year performance period commencing on January 1, 2017 and ending on December 31, 2019 (the “Performance Period”) and shall vest as follows: (i) one -half of the target RSUs shall vest and become nonforfeitable on March 23, 2020, 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. (The formula for ROIC is net operating profit after taxes divided by the net of total debt plus shareholders equity less cash); and (ii) one-half 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”). The peer group will consist of companies that comprise the Standard and Poor’s Transportation Select Index during the performance Period. Vesting is subject in each case to the Human Resources and Compensation Committee’s (“HRC”) certification of achievement of the performance measures and targets no later than March 31, 2020. Both the ROIC target RSUs and the TSR target RSU s are subject to an increase up to a maximum of 47,647 target RSU’s (aggregate 95,294 target RSU’s) or decrease depending on performance against the applicable measure and targets. The ROIC Performance Goal is a performance condition which, as of June 30, 2017, management believed, was considered probable of being achieved. Accordingly, for financial reporting purposes, compensation costs have been recognized. The grant date fair value of the TSR based performance awards, which has a market condition, was determined to be $4.04 per RSU. During the three and six months ended June 30, 2017, the Company respectively awarded 0 and 135,804 stock options to certain senior officers. Each stock option represents an option to purchase one share of Class A common stock for an exercise price of $4.04 per share. The average grant date fair value of the options was $1.89 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 holder’s employment terminated and (ii) the expiration of the options, provided that if the option holder’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.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2017
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	Note 12 — Accumulated Other Comprehensive Loss: The components of accumulated other comprehensive loss, net of related taxes, in the condensed consolidated balance sheets follow:    June 30, December 31,  As of 2017 2016  Unrealized losses on derivative instruments $ (669) $ (1,019)  Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement benefit plans) (6,806) (7,141)  $ (7,475) $ (8,160)  The following table present the changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, during three and six months ended June 30, 2017 and 2016:    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 March 31, 2017 $ (871) $ (7,141) $ (8,012)  Current period change, excluding amounts reclassified from accumulated other comprehensive income (115) 335 220  Amounts reclassified from accumulated other comprehensive income 317 - 317  Total change in accumulated other comprehensive income 202 335 537  Balance as of June 30, 2017 $ (669) $ (6,806) $ (7,475)    Balance as of March 31, 2016 $ (1,222) $ (8,206) $ (9,428)  Current period change, excluding amounts reclassified from  accumulated other comprehensive income (21) - (21)  Amounts reclassified from accumulated other comprehensive income 37 - 37  Total change in accumulated other comprehensive loss 16 - 16  Balance as of June 30, 2016 $ (1,206) $ (8,206) $ (9,412)    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, 2016 $ (1,019) $ (7,141) $ (8,160)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (200) 335 135  Amounts reclassified from accumulated other comprehensive loss 550 - 550  Total change in accumulated other comprehensive loss 350 335 685  Balance as of June 30, 2017 $ (669) $ (6,806) $ (7,475)   Balance as of December 31, 2015 $ (54,620) $ (18,841) $ (73,461)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (11,286) - (11,286)  Amounts reclassified from accumulated other comprehensive loss 4,337 - 4,337  Capital effects of INSW spin - discontinued operations 60,363 10,635 70,998  Total change in accumulated other comprehensive loss 53,414 10,635 64,049  Balance as of June 30, 2016 $ (1,206) $ (8,206) $ (9,412)  The income tax (benefit) /expense allocated to unrealized (losses) /gains on cash flow hedges for the three and six months ended June 30, 2017 was $(115) and $(198) , respectively, and was $(8) and $19 for the three and six months ended June 30, 2016. These amounts reflected the current period change, excluding amounts reclassified from accumulated other comprehensive loss.

Leases

Leases	6 Months Ended
	Jun. 30, 2017
Leases [Abstract]
Leases	 Note 13 — Leases: 1. Charters-in: As of June 30, 2017, the Company had commitments to charter-in 10 vessels. All of the charters-in are accounted for as operating leases and all are bareboat 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 June 30, 2017 Amount Operating Days  2017 $ 47,088 1,840  2018 91,457 3,650  2019 111,819 3,470  2020 9,168 366  2021 9,143 365  Thereafter 31,989 1,277  Net minimum lease payments $ 300,664 10,968  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. 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 table 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 (calendar days, less days on which vessels are not available for employment due to repairs, drydock or lay-up) are as follows:     At June 30, 2017 Amount Revenue Days  2017 $ 119,622 2,113  2018 153,125 2,172  2019 78,488 938  2020 43,658 531  2021 26,624 324  Thereafter 108,050 1,250  Net minimum lease receipts $ 529,567 7,328  Future minimum revenues do not include COAs for which minimum annual revenues cannot be reasonably estimated. Revenues from those COAs that are included in the table above, $ 11,214 (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.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2017
Contingencies [Abstract]
Contingencies	Note 14 — Contingencies: The Company’s policy for recording legal costs related to contingencies is to expense such legal costs as incurred. 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.   

Significant Accounting Polici23

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Significant Accounting Policies [Abstract]
Recently adopted / issued accounting standards	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. As of June 30, 2017, the contractual obligations for the Company’s leased vessels was approximately $301,000 .  In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (ASC 606 ) to provide a single, comprehensive revenue recognition model for all contracts with customers to improve comparability within industries, across industries, and across capital markets. 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. 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 will apply the modified retrospective transition method and is currently analyzing the impact of the adoption of this guidance on the Company’s consolidated financial statements, including developing a comprehensive implementation plan and assessing changes that might be necessary to information technology systems, processes and internal controls to capture new data and address changes in financial reporting.

Chapter 11 Filing and Emergen24

Chapter 11 Filing and Emergence from Bankruptcy (Tables)	6 Months Ended
	Jun. 30, 2017
CHAPTER 11 FILING & 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 Six Months Ended  June 30, June 30,  2017 2016 2017 2016  Trustee fees $ - $ 30 $ 5 $ 60  Professional fees 9 744 239 1,027  Litigation settlement, net - - (20,359)  Litigation settlement due to class action plaintiffs - - - 2,136  Litigation settlement due to Class B warrant holders - 87 - 86  $ 9 $ 861 $ 244 $ (17,050)  

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2017
Earnings per Common Share [Abstract]
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 Six Months Ended  June 30, June 30,  2017 2016 2017 2016   Income/(loss) from continuing operations $ 3,211 $ (4,185) $ 8,641 $ (12,881)  Income/(loss) from discontinued operations - 34,045 - 93,481  Net income $ 3,211 - $ 29,860 $ 8,641 - $ 80,600     Weighted average common shares outstanding:  Class A common stock - basic 87,769,483 92,255,692 88,309,231 93,496,651  Class A common stock - diluted 87,964,755 92,321,359 88,542,779 93,531,462  Class B common stock - basic and diluted - 826,794 - 1,073,382    (1) For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared. (2) The 2016 loss allocated to Class B common stockholders includes amounts equivalent to the special cash dividends declared on the Class B common stock shares. 

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2017
DISCONTINUED OPERATIONS [Abstract]
Schedule of Discontinued Operations	The table below presents statements of operations data for INSW, which has been classified as discontinued operations for the three and six months ended June 30, 2016.       Three Months Ended June 30, 2016 Six Months Ended June 30, 2016  Shipping revenues:  Pool revenues $ 66,706 $ 157,234  Time and bareboat charter revenues 28,660 50,343  Voyage charter revenues 7,698 24,161  103,064 231,738  Operating expenses:  Voyage expenses 2,107 6,074  Vessel expenses 34,400 69,538  Charter hire expenses 8,595 16,810  Depreciation and amortization 19,920 39,880  General and administrative 4,853 9,140  Spin-off related costs 1,090 1,223  Gain on disposal of vessels and other property, including impairments - (172)  Total Operating Expenses 70,965 142,493  Income from Vessel Operations 32,099 89,245  Equity in Income of Affiliated Companies 11,985 23,606  Operating Income 44,084 112,851  Other Income (176) 1,239  Income before Interest Expense, Reorganization Items and Taxes 43,908 114,090  Interest expense 9,690 20,432  Income before Reorganization Items and Income Taxes 34,218 93,658  Reorganization Items, net - -  Income before Income Taxes 34,218 93,658  Income Tax Provision 173 177  Net Income $ 34,045 $ 93,481 

Fair Value of Financial Instr27

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Tables)	6 Months Ended
	Jun. 30, 2017
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:     Carrying Fair Value  Value Level 1 Level 2  June 30, 2017:  Assets  Cash (1) $ 210,510 $ 210,510 $ -  Total $ 210,510 $ 210,510 $ -  Liabilities  8.125% notes due 2018 $ 61,872 $ - $ 64,412  OBS Term loan 446,170 - 432,524  7.5% Election 2 notes due 2021 294 - 308  7.5% notes due 2024 390 - 380  Total $ 508,726 $ - $ 497,624    Carrying Fair Value  Value Level 1 Level 2  December 31, 2016:  Assets  Cash (1) $ 206,933 $ 206,933 $ -  Total $ 206,933 $ 206,933 $ -  Liabilities  8.125% notes due 2018 $ 80,213 $ - $ 84,935  OBS Term loan 444,186 - 442,199  7.5% Election 2 notes due 2021 293 - 303  7.5% notes due 2024 390 - 392  Total $ 525,082 $ - $ 527,829 (1) Includes current and non-current restricted cash aggregating $5,935 and $15,844 at June 30, 2017 and December 31, 2016, respectively.

Accumulated Other Comprehensi28

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2017
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:    June 30, December 31,  As of 2017 2016  Unrealized losses on derivative instruments $ (669) $ (1,019)  Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement benefit plans) (6,806) (7,141)  $ (7,475) $ (8,160) 
Reclassification Out of Accumulated Other Comprehensive Income (Loss)	The following table present the changes in the balances of each component of accumulated other comprehensive loss, net of related taxes, during three and six months ended June 30, 2017 and 2016:    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 March 31, 2017 $ (871) $ (7,141) $ (8,012)  Current period change, excluding amounts reclassified from accumulated other comprehensive income (115) 335 220  Amounts reclassified from accumulated other comprehensive income 317 - 317  Total change in accumulated other comprehensive income 202 335 537  Balance as of June 30, 2017 $ (669) $ (6,806) $ (7,475)    Balance as of March 31, 2016 $ (1,222) $ (8,206) $ (9,428)  Current period change, excluding amounts reclassified from  accumulated other comprehensive income (21) - (21)  Amounts reclassified from accumulated other comprehensive income 37 - 37  Total change in accumulated other comprehensive loss 16 - 16  Balance as of June 30, 2016 $ (1,206) $ (8,206) $ (9,412)    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, 2016 $ (1,019) $ (7,141) $ (8,160)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (200) 335 135  Amounts reclassified from accumulated other comprehensive loss 550 - 550  Total change in accumulated other comprehensive loss 350 335 685  Balance as of June 30, 2017 $ (669) $ (6,806) $ (7,475)   Balance as of December 31, 2015 $ (54,620) $ (18,841) $ (73,461)  Current period change, excluding amounts reclassified from  accumulated other comprehensive loss (11,286) - (11,286)  Amounts reclassified from accumulated other comprehensive loss 4,337 - 4,337  Capital effects of INSW spin - discontinued operations 60,363 10,635 70,998  Total change in accumulated other comprehensive loss 53,414 10,635 64,049  Balance as of June 30, 2016 $ (1,206) $ (8,206) $ (9,412) 

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2017
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 (calendar days, less days on which vessels are not available for employment due to repairs, drydock or lay-up) are as follows:     At June 30, 2017 Amount Revenue Days  2017 $ 119,622 2,113  2018 153,125 2,172  2019 78,488 938  2020 43,658 531  2021 26,624 324  Thereafter 108,050 1,250  Net minimum lease receipts $ 529,567 7,328 
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 June 30, 2017 Amount Operating Days  2017 $ 47,088 1,840  2018 91,457 3,650  2019 111,819 3,470  2020 9,168 366  2021 9,143 365  Thereafter 31,989 1,277  Net minimum lease payments $ 300,664 10,968 

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	Nov. 30, 2016shares	Jun. 13, 2016	Jun. 30, 2017
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-for-six 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, each Class B common share and Class B warrant automatically converted into one Class A common share and one Class A warrant, respectively
Stock split conversion ratio		0.16667
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%
Common Stock [Member] | International Seaways Incorporated [Member]
Schedule of Equity Method Investments [Line Items]
Shares received pursuant to spinoff	0.3333
Warrants Related to Spinoff [Member]
Schedule of Equity Method Investments [Line Items]
Shares received pursuant to spinoff	0.063327
Warrants Related to Spinoff [Member] | International Seaways Incorporated [Member]
Schedule of Equity Method Investments [Line Items]
Shares received pursuant to spinoff	0.3333

Chapter 11 Filing and Emergen31

Chapter 11 Filing and Emergence from Bankruptcy (Narrative) (Details) - USD ($) $ in Thousands	Mar. 17, 2017	Feb. 28, 2017	Aug. 05, 2016	Aug. 05, 2015	Aug. 05, 2014	May 31, 2016	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Litigation settlement, received (paid)										$ 20,359
Litigation recovery percentage expected to be disbursed to the class action plaintiffs			15.00%
Litigation Settlement, net										(20,359)
Litigation settlement due to class action plaintiffs										2,136
Payments for restructuring							$ 135	$ 562	$ 159	1,088
Class B Warrant [Member]
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Litigation settlement due to class action plaintiffs								87		86
Proskauer Action [Member]
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Litigation settlement, received (paid)	$ (5,000)		$ (2,136)	$ (3,000)	$ (7,000)
Litigation Settlement, net	$ 5,000		$ 2,136	$ 3,000	$ 7,000
Net litigation recovery								14,242		$ 14,242
Proskauer Action [Member] | 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] | 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
SEC Investigation [Member]
Chapter 11 Filing Going Concern and Other Related Matters [Line Items]
Litigation settlement, received (paid)		$ (5,000)
Litigation Settlement, net		$ 5,000

Chapter 11 Filing and Emergen32

Chapter 11 Filing and Emergence from Bankruptcy (Reorganization Items, Net) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Liabilities Subject To Compromise And Reorganization Items [Line Items]
Trustee fees		$ 30	$ 5	$ 60
Professional fees	$ 9	744	239	1,027
Litigation Settlement, net				(20,359)
Litigation settlement due to class action plaintiffs				2,136
Reorganization Items, Total	$ 9	861	$ 244	(17,050)
Class B Warrant [Member]
Liabilities Subject To Compromise And Reorganization Items [Line Items]
Litigation settlement due to class action plaintiffs		$ 87		$ 86

Significant Accounting Polici33

Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Significant Accounting Policies [Abstract]
Income tax expense (benefit)	$ 1,593	$ 15,075	$ 5,162	$ 48,310
Contractual obligation	$ 301,000		$ 301,000

Earnings per Common Share (Narr

Earnings per Common Share (Narrative) (Details)	Jun. 13, 2016	May 31, 2016shares	Jun. 30, 2017$ / sharesshares	Jun. 30, 2016shares	Jun. 30, 2017$ / sharesshares	Jun. 30, 2016shares	Dec. 31, 2016$ / shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share, amount			687,505		877,271
Dilutive awards			195,272	65,667	233,548	34,811
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-for-six 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, each Class B common share and Class B warrant automatically converted into one Class A common share and one Class A warrant, respectively
Stock split conversion ratio	0.16667
Common Class A [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Participating securities, distributed and undistributed earnings (loss), diluted			125,145	38,697	99,814	40,577
Potentially dilutive securities					384,084
Common stock, shares, outstanding			75,034,126		75,034,126
Common stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 0.01		$ 0.01
Common Class A [Member] | Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities						587,607
Common Class A [Member] | Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities					430,633	489,282
Common Class B [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Participating securities, distributed and undistributed earnings (loss), diluted		0
Potentially dilutive securities		0
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%

Earnings per Common Share (Calc

Earnings per Common Share (Calculation of EPS) (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016		Jun. 30, 2017	Jun. 30, 2016
Earning Per Share [Line Items]
Income/(loss) from continuing operations	[1]	$ 3,211	$ (4,185)	[2]	$ 8,641	$ (12,881)	[2]
Income from discontinued operations	[1]		34,045			93,481
Net income	[1]	$ 3,211	$ 29,860		$ 8,641	$ 80,600
Common Class A [Member]
Weighted average common shares outstanding:
Weighted average common shares outstanding, basic	[1]	87,769,483	92,255,692		88,309,231	93,496,651
Weighted average common shares outstanding, diluted	[1]	87,964,755	92,321,359		88,542,779	93,531,462
Common Class B [Member]
Weighted average common shares outstanding:
Common stock - basic and diluted	[1]		826,794			1,073,382
Class A Warrant [Member]
Weighted average common shares outstanding:
Class of warrant or right, outstanding		66,950,446			66,950,446
[1]	For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared.
[2]	The 2016 loss allocated to Class B common stockholders includes amounts equivalent to the special cash dividends declared on the Class B common stock shares.

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
DISCONTINUED OPERATIONS [Abstract]
Indirect costs allocated to INSW	$ 2,606	$ 6,236

Discontinued Operations (Schedu

Discontinued Operations (Schedule of Discontinued Operations) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Shipping Revenues:
Time and bareboat charter revenues		$ 72,116	$ 97,413	$ 151,883	$ 196,103
Voyage charter revenues		24,109	20,971	52,458	37,361
Shipping revenues		$ 96,225	118,384	$ 204,341	233,464
Operating expenses:
Net Income	[1]		34,045		93,481
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member]
Shipping Revenues:
Pool revenues			66,706		157,234
Time and bareboat charter revenues			28,660		50,343
Voyage charter revenues			7,698		24,161
Shipping revenues			103,064		231,738
Operating expenses:
Voyage expenses			2,107		6,074
Vessel expenses			34,400		69,538
Charter hire expenses			8,595		16,810
Depreciation and amortization			19,920		39,880
General and administrative			4,853		9,140
Spin-off related costs			1,090		1,223
Gain on disposal of vessels and other property, including impairments					(172)
Total Operating Expenses			70,965		142,493
Income from Vessel Operations			32,099		89,245
Equity in Income of Affiliated Companies			11,985		23,606
Operating Income			44,084		112,851
Other Income			(176)		1,239
Income before Interest Expense, Reorganization Items and Taxes			43,908		114,090
Interest expense			9,690		20,432
Income before Reorganization Items and Income Taxes			34,218		93,658
Reorganization Items, net
Income before Income Taxes			34,218		93,658
Income Tax Provision			173		177
Net Income			$ 34,045		$ 93,481
[1]	For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared.

Vessels (Narrative) (Details)

Vessels (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Property, Plant and Equipment [Line Items]
Payments to acquire equipment				$ 58,000
Vessel/Fleet [Member]
Property, Plant and Equipment [Line Items]
Gain (loss) on disposition of assets	$ 0	$ 0	$ 0	0
Payments to acquire equipment	$ 0	$ 0	$ 0	$ 0

Fair Value of Financial Instr39

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Interest Rate Cap [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Cash flow hedge gain (loss) to be reclassified within twelve months			$ (1,052)
OSG Bulk Ships, Inc (OBS) [Member] | Interest Rate Cap [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, notional amount	$ 375,000		$ 375,000
Derivative, inception date			Feb. 5, 2015
Derivative, maturity date			Feb. 5, 2018
OSG Bulk Ships, Inc (OBS) [Member] | Interest Rate Cap [Member] | Scenario, Plan [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, cap interest rate	2.50%		2.50%
Maximum [Member] | OSG Bulk Ships, Inc (OBS) [Member] | Interest Rate Cap [Member] | Scenario, Plan [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Derivative, cap interest rate	3.00%		3.00%
Interest Rate Cap [Member] | Interest Expense [Member]
Fair Value Of Financial Instruments Derivatives And Fair Value Disclousres [Line Items]
Effective portion of gain/(loss) reclassified from accumulated other comprehensive loss	$ 317	$ 105	$ 551	$ 133

Fair Value of Financial Instr40

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Fair Value of Financial Instruments Other Than Derivatives) (Details) - USD ($) $ in Thousands		Jun. 30, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash		$ 5,935	$ 7,272
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities Fair Value, Total		508,726
Fair Value, Measurements, Nonrecurring [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	210,510	206,933
Asset Fair Value, Total		210,510	206,933
Liabilities Fair Value, Total			525,082
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents	[1]	210,510	206,933
Asset Fair Value, Total		210,510	206,933
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities Fair Value, Total		$ 497,624
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Liabilities Fair Value, Total			527,829
8.125% Notes due 2018 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt instrument, interest rate, stated percentage		8.125%
8.125% Notes due 2018 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		$ 61,872	80,213
8.125% Notes due 2018 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		64,412	84,935
7.50% Notes due 2024 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		390	390
7.50% Notes due 2024 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		380	392
7.50% Election 2 Notes due 2021 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		294	293
7.50% Election 2 Notes due 2021 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes Payable, Fair Value Disclosure		308	303
OBS Term Loan [Member] | Fair Value, Measurements, Nonrecurring [Member] | Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure		446,170	444,186
OBS Term Loan [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans Payable, Fair Value Disclosure		432,524	442,199
Corporate, Non-Segment [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash		$ 5,935	$ 15,844
[1]	Includes current and non-current restricted cash aggregating $5,935 and $15,844 at June 30, 2017 and December 31, 2016, respectively.

Fair Value of Financial Instr41

Fair Value of Financial Instruments, Derivatives and Fair Value Disclosures (Effect of Cash Flow Hedging Relationships) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Unrealized losses on derivative instruments	$ (202)	$ (4,477)	$ 669	$ (15,769)
Interest Rate Cap Continuing Operations [Member]
Unrealized losses on derivative instruments	$ (202)	(15)	$ 669	1,207
Interest Rate Cap Discontinued Operations [Member]
Unrealized losses on derivative instruments		1		(1,307)
Interest Rate Swap Discontinued Operations [Member]
Unrealized losses on derivative instruments		$ (4,463)		$ (15,669)

Debt (Exit Financing Facilities

Debt (Exit Financing Facilities) (Narrative) (Details) - USD ($)	May 16, 2016	Aug. 05, 2014	Jun. 30, 2017
Debt Instrument [Line Items]
Long-term debt, current maturities			$ 86,579,000
OBS Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, amortization, quarterly percentage of original principal amount		1.00%
Repayments of debt	$ 20,000,000
Debt instrument, covenant threshold related to net cash proceeds from asset sales		$ 5,000,000
Long-term debt, current maturities			24,714,000
Threshold amounts available for parent			$ 43,592,000
Debt instrument, additional mandatory prepayments, percentage		50.00%
OBS ABL Facility [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Feb. 5, 2019
Secured Debt [Member] | OBS Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 603,000,000
Long-term debt		603,000,000
Secured Debt [Member] | OBS ABL Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 75,000,000
Long-term debt			$ 0

Debt (Unsecured Senior Notes) (

Debt (Unsecured Senior Notes) (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Debt Instrument [Line Items]
Repayments of unsecured debt	$ 19,083	$ 52,667
8.125% Notes due 2018 [Member]
Debt Instrument [Line Items]
Repayments of unsecured debt	$ 19,083
Debt instrument, interest rate, stated percentage	8.125%
Loss on repurchase of debt	$ (1,189)
Write off of deferred debt issuance cost	$ 264

Taxes (Narrative) (Details)

Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Income Tax Contingency [Line Items]
Income tax provision from continuing operations	$ (1,593)	$ (15,075)	$ (5,162)	$ (48,310)
Effective income tax rate reconciliation, percent	33.00%	138.00%	37.00%	136.00%
Reserve for uncertain tax positions	$ 3,175		$ 3,175		$ 3,129
Operating loss carryforwards	$ 806		$ 806
Unrecognized tax benefits, interest on income taxes accrued					$ 760
Minimum [Member]
Income Tax Contingency [Line Items]
Income tax examination, year under examination			2,012
Maximum [Member]
Income Tax Contingency [Line Items]
Income tax examination, year under examination			2,015

Related Parties (Narrative) (De

Related Parties (Narrative) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Other income (expense)		$ 38	$ (422)	$ (630)	$ 736
Income from discontinued operations	[1]		$ 34,045		93,481
Distributions received					102,000
Distributed earnings of affiliated companies				3,656	$ 3,789
Transition Services and Separation and Distribution and Employee Matters Agreements [Member]
Accounts receivable, related parties, current		506		506		$ 683
Transition Services Agreement [Member]
Related party earned fees		49		126
Related party incurred fees		2		53
Qatar Gas Transport Company Limited Nakilat Joint Venture [Member]
Guarantor obligations, maximum exposure, undiscounted		30,235		30,235
LNG Joint Venture [Member] | International Seaways Incorporated [Member]
Annual fee from related party		$ 125		$ 125
Alaska Tanker Company Llc [Member]
Equity method investment, ownership percentage		37.50%		37.50%
[1]	For the three and six months ended June 30, 2017 and 2016, income/(loss) from continuing operations allocated to participating securities relates to unvested restricted stock and for the three and six months ended June 30, 2016, income from discontinued operations allocated to participating securities relates to amounts equivalent to the cash dividends declared.

Capital Stock and Stock Compe46

Capital Stock and Stock Compensation (Narrative) (Details) $ / shares in Units, $ in Thousands	Nov. 30, 2016shares	Jun. 13, 2016	Jun. 30, 2017$ / sharesshares	Jun. 30, 2016$ / sharesshares	Jun. 30, 2017$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares	Dec. 31, 2016$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [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-for-six 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, each Class B common share and Class B warrant automatically converted into one Class A common share and one Class A warrant, respectively
Stock split conversion ratio		0.16667
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares paid for tax withholding for share based compensation						22,113
Shares paid for tax withholding for share based compensation, per share amount | $ / shares						$ 14.67
RSU related to ROIC and TSR [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares available for grant					95,294
RSUs related to ROIC [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares available for grant					47,647
RSUs related to TSR [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, per share | $ / shares					$ 4.04
Additional shares available for grant					47,647
Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period, shares						106,350
Stock repurchased during period, per share amount | $ / shares						$ 12.23
Stock repurchased during period, value | $						$ 1,301
Stock issued during period, shares, conversion of convertible securities					4,477,726	6,604,494
Common stock, par value (in dollars per share) | $ / shares			$ 0.01		$ 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						7,833
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			0		165,010
Granted, per share | $ / shares					$ 4.04
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			0		63,532
Vesting period					3 years
Management Incentive Compensation Plan [Member] | Performance Based Restricted Units [Member] | Senior Officers [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage					50.00%
Management Incentive Compensation Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants, options, per share | $ / shares			$ 1.89		$ 1.89
Management Incentive Compensation Plan [Member] | Employee Stock Option [Member] | Senior Officers [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted					135,804
Granted, options			0
Options, exercisable price | $ / shares			$ 4.04		$ 4.04
Non-Employee Director Incentive Compensation Plan [Member] | Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, per share | $ / shares			$ 2.68		$ 2.68
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			253,700	65,769	253,700	65,769
Granted, per share | $ / shares				$ 11.86		$ 11.86
Additional shares, granted					1,500
Class A Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchased during period, shares						33,326,716
Stock repurchased during period, per share amount | $ / shares						$ 12.05
Stock repurchased during period, value | $						$ 75,347
Conversion of stock, shares converted					23,625,925	35,178,898
Class B Warrant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Conversion of stock, shares converted						46,997
Common Stock [Member] | International Seaways Incorporated [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares received pursuant to spinoff	0.3333
Warrants Related to Spinoff [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares received pursuant to spinoff	0.063327
Warrants Related to Spinoff [Member] | International Seaways Incorporated [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares received pursuant to spinoff	0.3333

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Loss (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Loss [Abstract]
Tax expense (benefit) on unrealized gains on cash flow hedges	$ (115)	$ (8)	$ (198)	$ 19

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Loss [Abstract]
Unrealized losses on derivative instruments	$ (669)	$ (1,019)
Items not yet recognized as a component of net periodic benefit cost (pension and other postretirement benefit plans)	(6,806)	(7,141)
Accumulated other comprehensive loss	$ (7,475)	$ (8,160)

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Loss (Changes in Components of AOCI, Net of Related Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2017		Jun. 30, 2016	Jun. 30, 2017		Jun. 30, 2016
Balance, beginning				$ 254,332
Current period change, excluding amounts reclassified from accumulated other comprehensive income	$ 220		$ (21)	135		$ (11,286)
Amounts reclassified from accumulated other comprehensive income	317		37	550		4,337
Capital Effects of INSW Spin - Discontinued Operations						70,998
Total change in accumulated other comprehensive loss	537		16	685		64,049
Balance, ending	264,295			264,295
Accumulated Other Comprehensive Loss [Member]
Balance, beginning	(8,012)		(9,428)	(8,160)	[1]	(73,461)
Balance, ending	(7,475)	[1]	(9,412)	(7,475)	[1]	(9,412)
Unrealized Losses on Cash Flow Hedges [Member]
Balance, beginning	(871)		(1,222)	(1,019)		(54,620)
Current period change, excluding amounts reclassified from accumulated other comprehensive income	(115)		(21)	(200)		(11,286)
Amounts reclassified from accumulated other comprehensive income	317		37	550		4,337
Capital Effects of INSW Spin - Discontinued Operations						60,363
Total change in accumulated other comprehensive loss	202		16	350		53,414
Balance, ending	(669)		(1,206)	(669)		(1,206)
Items Not Yet Recognized as a Component of Net Periodic Benefit Cost (Pension and Other Postretirement Plans) [Member}
Balance, beginning	(7,141)		(8,206)	(7,141)		(18,841)
Current period change, excluding amounts reclassified from accumulated other comprehensive income	335			335
Capital Effects of INSW Spin - Discontinued Operations						10,635
Total change in accumulated other comprehensive loss	335			335		10,635
Balance, ending	$ (6,806)		$ (8,206)	$ (6,806)		$ (8,206)
[1]	Amounts are net of tax

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)property	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)property	Jun. 30, 2016USD ($)
Leases [Line Items]
Reorganization items, total	$ 9	$ 861	$ 244	$ (17,050)
Interest expense	9,445	10,862	18,802	22,779
Payments for restructuring	135	562	159	1,088
Operating leases, rent expense	$ 22,856	$ 22,884	$ 45,433	$ 45,726
Charter-In [Member]
Leases [Line Items]
Commitments to charter in vessels, Number of Units | property	10		10
Charters-Out [Member]
Leases [Line Items]
Operating Leases, Future Minimum Payments Receivable, Current	$ 119,622		$ 119,622
Operating Leases, Future Minimum Payments Receivable, in Two Years	153,125		153,125
Operating Leases, Future Minimum Payments Receivable, in Three Years	78,488		78,488
Operating Leases, Future Minimum Payments Receivable, in Four Years	43,658		43,658
Operating Leases, Future Minimum Payments Receivable, in Five Years	26,624		26,624
Operating Leases, Future Minimum Payments Receivable, Thereafter	108,050		108,050
Charters-Out [Member] | Contracts of Affreightment Excluded [Member]
Leases [Line Items]
Operating Leases, Future Minimum Payments Receivable, Current	11,214		11,214
Operating Leases, Future Minimum Payments Receivable, in Two Years	22,698		22,698
Operating Leases, Future Minimum Payments Receivable, in Three 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) - Bareboat Charters-In [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Leases [Line Items]
2,017	$ 47,088
2,018	91,457
2,019	111,819
2,020	9,168
2,021	9,143
Thereafter	31,989
Net minimum lease payments	$ 300,664
2017, operating days	1840 days
2018, operating days	3650 days
2019, operating days	3470 days
2020, operating days	366 days
2021, operating days	365 days
Thereafter, operating days	1277 days
Operating days, total	10968 days

Leases (Future Minimum Revenues

Leases (Future Minimum Revenues on Charters-Out) (Details) - Charters-Out [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2,017	$ 119,622
2,018	153,125
2,019	78,488
2,020	43,658
2,021	26,624
Thereafter	108,050
Net minimum lease receipts	$ 529,567
2017, revenue days	2113 days
2018, revenue days	2172 days
2019, revenue days	938 days
2020, revenue days	531 days
2021, revenue days	324 days
Thereafter, revenue days	1250 days
Revenue Days	7328 days