Overseas Shipholding Group, Inc. - Ordinary Shares (OSG) 10-K 9 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 04, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	1-6479-1
Entity Registrant Name	OVERSEAS SHIPHOLDING GROUP, INC.
Entity Central Index Key	0000075208
Entity Tax Identification Number	13-2637623
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	302 Knights Run Avenue
Entity Address, City or Town	Tampa
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33602
City Area Code	813
Local Phone Number	209-0600
Title of 12(b) Security	Class A Common Stock (par value $0.01 per share)
Trading Symbol	OSG
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 131,907,694
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		87,248,499
Documents Incorporated By Reference	Portions of the registrant’s definitive proxy statement to be filed by the registrant in connection with its 2022 Annual Meeting of Stockholders are incorporated by reference in Part III
ICFR Auditor Attestation Flag	false
Auditor Firm ID	248
Auditor Name	GRANT THORNTON LLP
Auditor Location	Tampa, Florida

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current Assets:
Cash and cash equivalents	$ 83,172	$ 69,697
Restricted cash	37	49
Voyage receivables, including unbilled of $3,777 and $6,740, net of reserve for doubtful accounts	14,586	13,123
Income tax recoverable	1,882	387
Other receivables	5,816	1,817
Prepaid expenses	543	1,310
Inventories and other current assets	2,895	2,293
Total Current Assets	108,931	88,676
Vessels and other property, less accumulated depreciation and amortization	761,777	832,174
Deferred drydock expenditures, net	43,342	43,134
Total Vessels, Deferred Drydock and Other Property	805,119	875,308
Restricted cash	44	73
Intangible assets, less accumulated amortization	22,617	27,217
Operating lease right-of-use assets	152,027	215,817
Other assets	26,991	24,646
Total Assets	1,115,729	1,231,737
Current Liabilities:
Accounts payable, accrued expenses and other current liabilities	49,901	48,089
Current installments of long-term debt	22,225	38,922
Current portion of operating lease liabilities	100,010	90,613
Current portion of finance lease liabilities	4,000	4,000
Total Current Liabilities	176,136	181,624
Reserve for uncertain tax positions	179	189
Long-term debt, net	422,515	390,198
Deferred income taxes, net	63,744	80,992
Noncurrent operating lease liabilities	73,150	147,154
Noncurrent finance lease liabilities	18,998	21,360
Other liabilities	22,393	30,409
Total Liabilities	777,115	851,926
Commitments and contingencies (Note 17)
Equity:
Common stock - Class A ($0.01 par value; 166,666,666 shares authorized; 87,170,463 and 86,365,422 shares issued and outstanding)	872	864
Paid-in additional capital	594,386	592,564
Accumulated deficit	(259,587)	(213,335)
Stockholder’s Equity Subtotal	335,671	380,093
Accumulated other comprehensive income/(loss)	2,943	(282)
Total Equity	338,614	379,811
Total Liabilities and Equity	$ 1,115,729	$ 1,231,737

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Unbilled Contracts Receivable	$ 3,777	$ 6,740
Class A common stock, par value	$ 0.01	$ 0.01
Class A common stock, shares authorized	166,666,666	166,666,666
Class A common stock, shares issued	87,170,463	86,365,422
Class A common stock, shares outstanding	87,170,463	86,365,422

Consolidated Statement of Opera

Consolidated Statement of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Shipping Revenues:
Time charter revenues	$ 254,744	$ 344,512
Voyage charter revenues	104,318	74,180
Total Shipping revenues	359,062	418,692
Operating Expenses:
Voyage expenses	66,467	42,813
Vessel expenses	140,413	159,466
Charter hire expenses	90,166	90,608
Depreciation and amortization	61,823	58,513
Bad debt recovery	(1,080)
General and administrative	24,097	26,869
Loss on disposal of vessels and other property, including impairments, net	6,276	982
Total operating expenses	388,162	379,251
(Loss)/income from vessel operations	(29,100)	39,441
Gain on termination of pre-existing arrangement		19,172
Operating(loss)/income	(29,100)	58,613
Loss on extinguishment of debt, net	(8,031)	(793)
Other income, net	1,985	2,414
(Loss)/income before interest expense and income taxes	(35,146)	60,234
Interest expense, net	(29,203)	(24,045)
(Loss)/income before income taxes	(64,349)	36,189
Income tax benefit/(expense)	18,097	(6,185)
Net (loss)/income	$ (46,252)	$ 30,004
Weighted Average Number of Common Shares Outstanding:
Basic - Class A	90,587,454	89,794,392
Diluted - Class A	90,587,454	90,838,262
Per Share Amounts:
Basic and diluted net (loss)/income - Class A	$ (0.51)	$ 0.33

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss)/ Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net (loss)/income	$ (46,252)	$ 30,004
Defined benefit pension and other postretirement benefit plans:
Net change in unrecognized prior service costs	(554)	4,595
Net change in unrecognized actuarial gain	3,779	1,532
Other comprehensive income	3,225	6,127
Comprehensive (loss)/income	$ (43,027)	$ 36,131

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash Flows from Operating Activities:
Net (loss)/income	$ (46,252)	$ 30,004
Items included in net income not affecting cash flows:
Depreciation and amortization	61,823	58,513
Bad debt recovery	(1,080)
Gain on termination of pre-existing arrangement		(19,172)
Amortization of debt discount and other deferred financing costs	2,099	2,286
Compensation relating to restricted stock, stock unit and stock option grants	2,232	2,333
Deferred income tax (benefit)/expense	(18,236)	6,298
Interest on finance lease liabilities	1,799	1,973
Non-cash operating lease expense	90,863	91,696
Distributed earnings of affiliated companies		3,562
Items included in net income related to investing and financing activities:
Loss on extinguishment and prepayments of debt, net	5,295	793
Loss on disposal of vessels and other property, including impairments, net	6,276	982
Payments for drydocking	(19,037)	(30,732)
Changes in operating assets and liabilities:
Operating lease liabilities	(92,634)	(92,753)
Increase in receivables	(384)	(3,876)
(Decrease)/increase in income tax receivable	(1,495)	6,133
Increase/(decrease) in deferred revenue	9,666	(2,903)
Net change in other operating assets and liabilities	(12,767)	(2,469)
Net cash (used in)/provided by operating activities	(11,832)	52,668
Cash Flows from Investing Activities:
Acquisition, net of cash acquired		(16,973)
Expenditures for vessels and vessel improvements	(7,793)	(62,586)
Proceeds from disposal of vessels and other property	32,128	1,407
Net cash provided by/(used in) investing activities	24,335	(78,152)
Cash Flows from Financing Activities:
Extinguishment of debt and prepayments	(277,520)	(41,021)
Issuance of debt, net of issuance and deferred financing costs	321,531	143,949
Payments on debt	(33,316)	(44,933)
Tax withholding on share-based awards	(402)	(197)
Payments on principal portion of finance lease liabilities	(4,161)	(4,172)
Extinguishment of debt costs paid	(2,736)
Deferred financing costs paid for debt amendments	(2,465)
Net cash provided by financing activities	931	53,626
Net increase in cash, cash equivalents and restricted cash	13,434	28,142
Cash, cash equivalents and restricted cash at beginning of year	69,819	41,677
Cash, cash equivalents and restricted cash at end of year	$ 83,253	$ 69,819

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity/(Deficit) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 857	$ 590,436	$ (243,339)	$ (6,409)	$ 341,545
Net income (loss)			30,004		30,004
Other comprehensive income, net of taxes				6,127	6,127
Issuance and vesting of restricted stock awards	8	(8)
Taxes withheld and forfeitures of restricted stock awards	(1)	(197)			(198)
Compensation related to Class A options granted		11			11
Compensation related to Class A restricted stock awards		2,322			2,322
Balance at Dec. 31, 2020	864	592,564	(213,335)	(282)	379,811
Net income (loss)			(46,252)		(46,252)
Other comprehensive income, net of taxes				3,225	3,225
Issuance and vesting of restricted stock awards	8	(8)
Taxes withheld and forfeitures of restricted stock awards		(402)			(402)
Compensation related to Class A restricted stock awards		2,232			2,232
Balance at Dec. 31, 2021	$ 872	$ 594,386	$ (259,587)	$ 2,943	$ 338,614

BASIS OF PRESENTATION AND DESCR

BASIS OF PRESENTATION AND DESCRIPTION OF BUSINESS	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND DESCRIPTION OF BUSINESS	NOTE 1 — BASIS OF PRESENTATION AND DESCRIPTION OF BUSINESS The consolidated financial statements include the accounts of Overseas Shipholding Group, Inc., a Delaware corporation incorporated in 1969, and its wholly owned subsidiaries (the “Company” or “OSG”, or “we” or “us” or “our”), including Alaska Tanker Company (“ATC”) as of its March 12, 2020 acquisition date. 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 trade. All significant intercompany balances and transactions have been eliminated in consolidation. The World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a pandemic in March 2020. The COVID-19 pandemic is a dynamic and continuously evolving phenomenon and our disclosures throughout describe its effects on our business. Recent geopolitical tensions involving Russia and the Ukraine have disrupted markets and resulted in volatile oil prices. The impact of this situation is uncertain and ongoing.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1. Cash and cash equivalents 2. Vessels, vessel lives, deferred drydocking expenditures and other property Vessels are recorded at cost and are depreciated to their estimated salvage value on the straight-line basis over the estimated useful lives of the vessels, which are generally 25 years (except for new ATBs for which estimated useful lives of 30 years are used) Other property, including leasehold improvements, are recorded at cost and amortized on a straight-line basis over the shorter of the terms of the leases or the estimated useful lives of the assets, which range from three years 15 Interest costs are capitalized to vessels and other property during the period that vessels are under construction and projects are in progress. During the years ended December 31, 2021 and 2020, interest costs capitalized were $ 1,427 3,717 Expenditures incurred during a drydocking are deferred and amortized on the straight-line basis over the shorter of the terms of the leases or the period until the next scheduled drydocking, generally two and a half to five years. The Company only includes in deferred drydocking costs those direct costs that are incurred as part of the drydocking to meet regulatory requirements, or are expenditures that add economic life to the vessel, increase the vessel’s earnings capacity or improve the vessel’s efficiency. Direct costs include shipyard costs as well as the costs of placing the vessel in the shipyard. Expenditures for normal maintenance and repairs, whether incurred as part of the drydocking or not, are expensed as incurred. The carrying value of each of the Company’s vessels represents its original cost at the time it was delivered or purchased less depreciation calculated using estimated useful lives from the date such vessel was originally delivered from the shipyard or from the date (as in the case of certain of the Company’s ATBs) a vessel was rebuilt. A vessel’s carrying value is reduced to its new cost basis (i.e., its current fair value) if a vessel impairment charge is recorded. If the estimated economic lives assigned to the Company’s vessels prove to be too long because of new regulations, a prolonged weak market environment, a broad imposition of age restrictions by the Company’s customers, or other future events, it could result in higher depreciation expense and impairment losses in future periods related to a reduction in the useful lives of any affected vessels. 3. Impairment of long-lived assets, including right-of-use assets - The carrying amounts of long-lived assets held and used by the Company are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a particular asset may not be fully recoverable. In such instances, the requirement for impairment could be triggered if the estimate of the undiscounted future cash flows expected to result from the use of the asset and its eventual disposition is less than the asset’s carrying amount. This assessment is made at the individual vessel level since separately identifiable cash flow information for each vessel is available. The impairment charge, if any, would be measured as the amount by which the carrying amount of a vessel exceeded its fair value. A long-lived asset impairment charge results in a new cost basis being established for the relevant long-lived asset. See Note 9, “Fair Value Measurements and Fair Value Disclosures,” for further discussion on the impairment tests performed on our vessels during the two years ended December 31, 2021. 4. Intangible assets 5. Deferred finance charges Unamortized deferred financing charges of $ 5,542 6,998 2,099 2,286 6. Revenue and expense recognition The Company classifies time charter leasing arrangements less than 90 days within the voyage charter revenue financial statement line item because the Company believes the pricing negotiated within these short-term time charter contracts more closely aligns with the Company’s voyage charter spot market. Under voyage charters, expenses such as fuel, port charges, canal tolls, cargo handling operations and brokerage commissions are paid by the Company whereas, under time and bareboat charters, such voyage costs are generally paid by the Company’s customers. The Company receives a stipend pursuant to the Maritime Security Act of 1996 for the two U.S. Flag Product Carriers which participate in the U.S. MSP program. This stipend has been recorded as an offset to vessel expenses which amounted to $ 10,500 9,665 7. Voyage receivables 8. Concentration of credit risk - Financial instruments that potentially subject the Company to concentrations of credit risk are voyage receivables due from charterers. With respect to voyage receivables, the Company limits its credit risk by performing ongoing credit evaluations. Voyage receivables reflected on the consolidated balance sheets as of December 31, 2021 and 2020 are net of a reserve for doubtful accounts of $ 150 and $ 4,604 , respectively. In June 2019, one of the Company’s lightering customers, PES, suffered an explosion and fire at their refinery in the Delaware Bay. In July 2019, PES filed a Chapter 11 bankruptcy petition. The reserve for doubtful accounts at December 31, 2020 included a provision of $ 4,300 on outstanding receivables of $ 4,300 from PES that we established in the second quarter of 2019. During the fourth quarter of 2021, our recovery became determinable and we recognized a recovery of $ 1,080 1,080 payment was received by us in February 2022. During the years ended December 31, 2021 and 2020, the Company had two and three individual customers, respectively, who accounted for 10% or more of the Company’s revenues. The customers and their related percentages were Hilcorp North Slope LLC ( 28.2 10.6% 12.6% 11.4% 10.1% The Company’s cash and cash equivalents balances generally exceed Federal Deposit Insurance Corporation insurance limits. Cash and cash equivalents are placed in what the Company believes to be creditworthy financial institutions. In addition, certain of the Company’s money market accounts invest in U.S. Treasury securities or other obligations issued or guaranteed by the U.S. government or its agencies. 9. Income taxes Net deferred tax assets are recorded to the extent the Company believes these assets will more likely than not be realized. In making such a determination, all available positive and negative evidence is considered, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company were to determine that it would be able to realize its deferred income tax assets in the future in excess of their net recorded amount, an adjustment would be made to the deferred tax asset valuation allowance, which would reduce the provision for income taxes in the period such determination is made. Uncertain tax positions are recorded in accordance with ASC 740, Income Taxes greater than 50 10. Use of estimates 11. Segment information 12. Inventories 13. Acquisition of Alaska Tanker Company, LLC and related transactions 14. Recently adopted accounting standard Codification Improvements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes 15. Recently issued accounting standard Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Codification Improvements to Topic 326 In November 2019, the FASB issued ASU 2019-10, Financial Instruments – Credit Losses (Topic 326) Derivatives and Hedging (Topic 815) Leases (Topic 842): Effective Dates Bucket 1— All public business entities (“PBEs”) that are SEC filers (as defined in U.S. GAAP), excluding smaller reporting companies (“SRCs”) (as defined by the SEC). The credit losses standard became effective January 1, 2020. Bucket 2— All other entities, including SRCs, other PBEs that are not SEC filers, private companies, not-for-profit organizations, and employee benefit plans. The credit losses standard is to become effective January 1, 2023. At June 30, 2019, the evaluation date for purposes of determining the applicability of the credit losses standard, the Company met the SEC definition of a smaller reporting company. Accordingly, the Company plans to adopt the credit losses standard on January 1, 2023. Management is currently reviewing the impact of the adoption of this accounting standard on the Company’s consolidated financial statements.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2021
Per Share Amounts:
EARNINGS PER COMMON SHARE	NOTE 3 — 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 of $ 0.01 The computation of diluted earnings per share assumes the issuance of common stock for all potentially dilutive stock options and restricted stock units. Class A As of December 31, 2021, there were 3,371,177 1,478,756 2,605,263 1,478,756 The components of the calculation of basic earnings per share and diluted earnings per share are as follows: SCHEDULE OF EARNINGS PER SHARE Years Ended December 31, 2021 2020 Net (loss)/income $ (46,252 ) $ 30,004 Weighted average common shares outstanding: Class A common stock - basic 90,587,454 89,794,392 Class A common stock - diluted 90,587,454 90,838,262 There were 1,043,870 dilutive equity awards outstanding for the year ended December 31, 2020. For the year ended December 31, 2021, awards of 2,017,810 371,893 , which are related to stock options, for the year ended December 31, 2020 were not included in the computation of diluted earnings per share because inclusion of these awards would be anti-dilutive.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	NOTE 4 — REVENUE RECOGNITION Shipping Revenues Time Charter Revenues The Company enters into time charter contracts under which a customer pays a fixed daily or monthly rate for a fixed period of time for use of a vessel. The Company recognizes revenues from time charters as operating leases ratably over the noncancellable contract term. Customers generally pay voyage expenses such as fuel, canal tolls and port charges. The Company also provides the charterer with services such as technical management expenses and crew costs. While there are lease and non-lease components related to time charter contracts, the predominant component of the contract is the charterer’s lease of the vessel. The non-lease components of the contract have the same timing and pattern of transfer as the underlying lease component; therefore, the Company applies the practical expedient of combining lease and non-lease components and recognizes revenue related to this service ratably over the life of the contract term. Voyage Charter Revenues The Company enters into voyage charter contracts, under which the customer pays a transportation charge (voyage freight) for the movement of a specific cargo between two or more specified ports. The Company’s performance obligation under voyage charters, which consists of moving cargo from a load port to a discharge port, is satisfied over time. Accordingly, under ASC 606, the Company recognizes revenue from voyage charters ratably over the estimated length of each voyage, calculated on a load-to-discharge basis. The transaction price is in the form of a fixed fee at contract inception, which is the transportation charge. Voyage charter contracts also include variable consideration primarily in the form of demurrage, which is additional revenue the Company receives for delays experienced in loading or unloading cargo that are not deemed to be the responsibility of the Company. The Company does not include demurrage in the transaction price for voyage charters since it is highly susceptible to factors outside the Company’s influence. Examples of when demurrage is incurred include unforeseeable weather conditions and security regulations at ports. The uncertainty related to this variable consideration is resolved upon the completion of the voyage, the duration of which is generally less than 30 days. U.S. Maritime Security Program Two Contracts of Affreightment The Company enters into contracts of affreightment (each a “COA”) to provide transportation services between specified points for a stated quantity of cargo over a specific time period, but without designating voyage schedules. The Company has COA arrangements to provide for lightering services and other arrangements based on the number of voyages. These contracts are service contracts within the scope of ASC 606 for which the underlying performance obligation is satisfied as transportation services are provided. The Company’s COAs include minimum purchase requirements from customers that are expressed in either fixed monthly barrels, annual minimum barrel volume requirements or annual minimum number of voyages to complete. The Company is required to transport and the charterer is required to provide the Company with a minimum volume requirement. These contract minimums represent fixed consideration within the contract which is recognized as the distinct services of delivering barrels or voyages are performed in the series over time. The Company will adjust revenue recognized for any minimum volume unexercised right. COAs provide the charterer with the opportunity to purchase additional transportation services above the minimum. If this is not considered a material right, the Company recognizes revenue related to the additional services at the contractual rate as the product is transferred over time. If the additional transportation service is considered a material right, the Company allocates the transaction price to the material right. As a result, the Company may recognize revenue related to COAs at an amount different from the invoiced amount if the Company’s estimated volume to be transported under the contract exceeds the contractual minimum. COAs also include variable consideration primarily related to demurrage. The Company does not include this variable consideration in the transaction price for these contracts as the consideration is constrained since the obligation to deliver this service is outside the control of the Company. The uncertainty related to this variable consideration is resolved with the customer over the course of the contract term as individual voyages discharge. At December 31, 2021, the Company did not have deferred revenue related to the Company’s COAs. Disaggregated Revenue The Company has disaggregated revenue from contracts with customers into categories that depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Consequently, the disaggregation below is based on contract type. Since the terms within these contract types are generally standard in nature, the Company does not believe that further disaggregation would result in increased insight into the economic factors impacting revenue and cash flows. The following table shows the Company’s shipping revenues disaggregated by nature of the charter arrangement for the years ended December 31, 2021 and 2020: SCHEDULE OF DISAGGREGATION OF REVENUE Years Ended December 31, 2021 2020 Time and bareboat charter revenues $ 254,744 $ 344,512 Voyage charter revenues (1) 57,946 29,752 Contracts of affreightment revenues 46,372 44,428 Total shipping revenues $ 359,062 $ 418,692 (1) Voyage charter revenues include approximately $ 14,843 15,466 Voyage Receivables As of December 31, 2021 and December 31, 2020, contract balances from contracts with customers consisted of voyage receivables of $ 8,227 9,351 150 4,604 Costs to Fulfill a Contract Under ASC 606, for voyage charters and contracts of affreightment, the Company capitalizes the direct costs, which are voyage expenses, of relocating the vessel to the load port to be amortized during transport of the cargo. At December 31, 2021, the costs related to voyages that were not yet completed were not material. Additionally, these contracts include out-of-pocket expense (i.e. fuel, port charges, canal tolls) incurred by the Company in fulfilling its performance obligations, which are reimbursed by the charterer at cost. The reimbursement for these fulfillment costs are included in the Company’s estimated transaction price for the contract and recognized as revenue when performance obligations are satisfied. Transaction Price Allocated to the Remaining Performance Obligations As of December 31, 2021, the Company expects to recognize revenue of approximately $ 27,402 Practical Expedients and Exemptions The Company’s voyage charter contracts and some of the Company’s COAs have an original expected duration of one year or less; therefore, the Company has elected to apply the practical expedient, which permits the Company to not disclose the portion of the transaction price allocated to the remaining performance obligations within these COAs. The Company expenses broker commissions for voyage charters, which are costs of obtaining a contract, as they are incurred because the amortization period is less than one year or are otherwise amortized as the underlying performance obligation is satisfied. The Company records these costs within voyage expenses on the consolidated statements of operations.

VESSELS, OTHER PROPERTY AND DEF

VESSELS, OTHER PROPERTY AND DEFERRED DRYDOCK	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
VESSELS, OTHER PROPERTY AND DEFERRED DRYDOCK	NOTE 5 — VESSELS, OTHER PROPERTY AND DEFERRED DRYDOCK Vessels and other property consist of the following: SCHEDULE OF VESSELS AND OTHER PROPERTY 2021 2020 Years Ended December 31, 2021 2020 Vessels, at cost $ 1,066,327 $ 1,099,187 Accumulated depreciation (345,531 ) (308,449 ) Vessels, net 720,796 790,738 Construction in progress 19,799 17,238 Finance lease right-of-use asset, at cost (Note 14) 26,940 26,940 Accumulated amortization (Note 14) (5,906 ) (2,957 ) Finance lease right-of use asset, net (Note 14) 21,034 23,983 Other property, at cost 5,578 5,552 Transfers from construction in progress — 25 Accumulated depreciation and amortization (5,430 ) (5,362 ) Other property, net 148 215 Total vessels and other property $ 761,777 $ 832,174 During the first quarter of 2021, the Company received a firm offer for the sale of the Overseas Gulf Coast 5,446 on the planned disposition of this tanker. In April 2021, the Company entered into a contract to sell the vessel for $ 31,850 , net of broker commissions. The sale of the vessel was completed in June 2021 for $ 32,128 , net of broker commissions and other fees, resulting in an immaterial gain recognized during the second quarter of 2021, which is included in loss on disposal of vessels and other property, including impairments, net on the consolidated statements of operations. During the first and second quarters of 2020, the Company established terms to sell for scrap the OSG 243, OSG Independence OSG 244 The Company took delivery of two 204,000 OSG 205 OSG 204 OSG Courageous OSG Endurance In May 2020 and August 2020, the Company sold two of its ATBs for $ 1,407 On March 12, 2020, subsidiaries of OSG, as the Parent Company, completed the purchase of three U.S.-flagged crude oil carrier vessels, the Alaskan Explorer Alaskan Legend Alaskan Navigator 54,000 Alaskan Frontier At December 31, 2021, the Company’s owned vessel fleet with a weighted average age of 13.5 714,306 Vessel activity, excluding construction in progress, for the two years ended December 31, 2021 is summarized as follows: SUMMARY OF VESSEL ACTIVITY EXCLUDING CONSTRUCTION PROGRESS Vessel Cost Accumulated Net Book Balance at December 31, 2019 $ 919,212 $ (274,900 ) $ 644,312 Transfers from construction in progress 111,685 — Additions 74,076 — Depreciation — (37,339 ) Disposals (5,786 ) 3,790 Balance at December 31, 2020 1,099,187 (308,449 ) 790,738 Transfers from construction in progress 6,836 — Depreciation — (39,398 ) Disposals (39,696 ) 2,316 Balance at December 31, 2021 $ 1,066,327 $ (345,531 ) $ 720,796 The total of vessel additions can be different from expenditures for vessels as shown in the consolidated statements of cash flows because of the timing of when payments were made. For the years ended December 31, 2021 and 2020, the Company had approximately $ 1,341 1,820 Drydocking activity for the two years ended December 31, 2021 is summarized as follows: SUMMARY OF DRYDOCKING ACTIVITY 2021 2020 Balance at January 1 $ 43,134 $ 23,734 Additions 15,017 33,398 Drydock amortization (14,809 ) (13,998 ) Balance at December 31 $ 43,342 $ 43,134

INVESTMENT IN ALASKA TANKER COM

INVESTMENT IN ALASKA TANKER COMPANY, LLC	12 Months Ended
	Dec. 31, 2021
Investments, All Other Investments [Abstract]
INVESTMENT IN ALASKA TANKER COMPANY, LLC	NOTE 6 — INVESTMENT IN ALASKA TANKER COMPANY, LLC In December 2019, the Company entered into an agreement with BP to purchase three U.S.-flagged crude oil carrier vessels ( Alaskan Explorer Alaskan Legend Alaskan Navigator 54,000 54,000 five In connection with the purchase of the vessels from BP, the Company agreed to time charter arrangements with BP for terms of 2.5 years to 6.4 years at a fixed daily rate with an annual escalation and five renewal options for one year each Alaskan Frontier The Company accounted for the purchase of the three vessels and remaining equity ownership interest in ATC collectively as an asset acquisition, with substantially all the cost of the acquisition attributed to the three vessels purchased from BP. The pre-existing ATC arrangements with a minimum term through December 2023 were terminated, and a non-cash gain equal to the value of the remaining arrangement of $ 19,172 Business Combinations, As part of the acquisition of ATC on March 12, 2020, the Company assumed liabilities of $ 9,898 8,812

INTANGIBLE ASSETS

INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	NOTE 7 — INTANGIBLE ASSETS Intangible assets activity for the two years ended December 31, 2021 is summarized as follows: SCHEDULE OF INTANGIBLE ASSETS Total Balance at December 31, 2019 $ 31,817 Amortization (4,600 ) Balance at December 31, 2020 27,217 Amortization (4,600 ) Balance at December 31, 2021 $ 22,617 As discussed in Note 2, “Summary of Significant Accounting Policies,” the Company’s intangible assets at December 31, 2021 and 2020 consist of long-term customer relationships acquired as part of the 2006 purchase of Maritrans, Inc. The gross intangible assets were $ 92,000 five years 4,600

DEBT

DEBT	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
DEBT	NOTE 8 — DEBT Debt consists of the following: SCHEDULE OF LONG-TERM DEBT INSTRUMENTS December 31, 2021 2020 Term loan, due 2024, net of unamortized deferred costs of $398 and $426 $ 21,633 $ 22,972 Term loan, due 2024 398 426 $ 21,633 $ 22,972 Alaska tankers term loan, due 2025 421 623 30,236 50,360 OSG 204 LLC term loan, due 2025 646 636 26,231 31,283 OSG 205 LLC and OSG Courageous II LLC term loan, due 2027 734 564 46,380 48,586 Unsecured senior notes, net of unamortized deferred costs 390 691 Term loan, due 2028 3,343 319,870 — Term loan, due 2023 4,676 — 252,057 Term loan, due 2026 73 — 23,171 Total debt 444,740 429,120 Less current installments of long-term debt (22,225 ) (38,922 ) Total long-term debt $ 422,515 $ 390,198 The weighted average interest rate for debt outstanding at December 31, 2021 and 2020 was 7.20 5.21 Term Loans Capitalized terms used hereafter have the meaning given in this Annual Report on Form 10-K or in the respective transaction documents referred to below, including subsequent amendments thereto. Term loan, due 2028 (the “Borrowers”) 325,000 term loan credit facility with Stonebriar Commercial Finance. Proceeds were used to pay off the Company’s term loan, due 2023 , with The Prudential Insurance Company of America, as administrative agent, and certain other lenders, and the Company’s term loan, due 2026 , with Wintrust Commercial Finance, for $ 237,983 and $ 20,298 , respectively. Additionally, the Company used proceeds to make a prepayment of $ 16,000 , to partially prepay a term loan with Banc of America Leasing & Capital, LLC, the Company’s Alaska tankers term loan, due 2025 . The remaining proceeds will be used for general working capital purposes. The Company recognized an aggregate net loss of $ 7,961 on these transactions, which reflects a write-off of unamortized deferred financing costs and prepayment fees. The new term loan bears interest at a rate of 7.75 % and matures on October 1, 2028 . The performance of the Borrowers’ obligations under the term loan is guaranteed by the Company and certain other subsidiaries and are secured by the Borrowers’ assets, including five tankers, three tugs, and two barges, and by the Company’s equity interests in certain of its subsidiaries. OSG 205 LLC and OSG Courageous II LLC term loan, due 2027 49,150 of which $ 46,711 was drawn down to finance a new 204,000-barrel U.S. Flag oil and chemical ATB barge, OSG 205 OSG Courageous. 15,811 , which included accrued interest on its term loan, due 2023 . The aggregate net loss realized on this transaction, which was not material, reflects a write-off of unamortized original issue discount and deferred financing costs associated with the principal reduction and is included in loss on extinguishment of debt, net on the consolidated statements of operations for the year ended December 31, 2020. On December 3, 2020, upon completion and delivery of the OSG 205, 6.37 %. In March 2021, the Company obtained an amendment for certain financial covenants of the term loan. In connection with the amendment, the interest rate was updated to a fixed interest rate of 6.87% until the end of the first quarter of 2022. Beginning in the second quarter of 2022, the interest rate returns to a fixed interest rate of 6.37%. The loan is guaranteed by the Company and has a seven-year term maturing on December 1, 2027 . The lenders hold a perfected first priority security interest and preferred ship mortgage against the barge and tug. In November 2021, the Company completed an amendment on the term loan to conform the covenants with the Stonebriar $ 325,000 loan. OSG 204 LLC term loan, due 2025 32,933 to finance a new 204,000-barrel U.S. Flag oil and chemical ATB barge. The loan had a fixed interest rate of 5.00 %. On November 5, 2021, the Company amended the loan to conform the covenants with the Stonebriar $ 325,000 3,000 on the outstanding balance of the loan and the loan’s interest rate was updated to a fixed interest rate of 5.75 %. The loan is guaranteed by the Company and has a five-year term maturing on June 1, 2025 . The lender holds a perfected first priority security interest and preferred ship mortgage against the vessel. Alaska tankers term loan, due 2025 54,000 to finance the purchase of three U.S.-flagged crude oil carrier vessels, the Alaskan Explorer Alaskan Legend Alaskan Navigator 16,000 to release the Alaskan Legend 4.43 % and has a maturity date of March 12, 2025 . In November 2021 , the Company completed an amendment on the term loan to conform the covenants with the Stonebriar $ 325,000 loan. Term loan, due 2024 - 50,000 five-year September 30, 2024 Overseas Gulf Coast Overseas Sun Coast. 24,000 Overseas Gulf Coast Overseas Sun Coast 5.54 325,000 Term loan, due 2023 – 325,000 five-year term. In May 2020 and August 2020, in connection with the Company’s sale of two of its ATBs, the Company made mandatory prepayments of $ 1,307 on its term loan due in 2023 . The aggregate losses realized on these transactions, which related to the write-off of unamortized deferred finance costs, were not material. Term loan, due 2026 – 27,500 seven-year term Unsecured Senior Notes 7.5 % Notes – The unsecured senior notes were issued on March 7, 2003 and consisted of $ 146,000 in face value, which are due on February 15, 2024 . Pursuant to the Equity Plan, the Company issued two series of 7.50 % Notes due February 15, 2021 , one series in an aggregate principal amount of $ 6,508 (the “Election 1 Notes”) and the other series in an aggregate principal amount of $ 138,708 (the “Election 2 Notes”) to holders of the 7.50 % Notes due 2024 that elected to receive Election 1 Notes or Election 2 Notes, as the case may be. The outstanding Election 1 Notes were repurchased and retired during the year ended December 31, 2015. The Election 2 Notes matured in February 2021 and the Company paid off the remaining balance of $ 301 . At December 31, 2021, the remaining outstanding balance is related to the 7.50 Interest Expense The following table summarizes interest expense, including amortization of issuance and deferred financing costs, commitment, administrative and other fees, recognized during the two years ended December 31, 2021 with respect to the Company’s debt facilities: SCHEDULE OF DEBT EXPENSES Years Ended December 31, Debt Facility 2021 2020 Term loan, due 2024 $ 1,407 $ 2,383 Alaska tankers term loan, due 2025 2,193 2,014 OSG 204 LLC term loan, due 2025 1,747 1,365 OSG 205 LLC and OSG Courageous II LLC term loan, due 2027 3,423 374 Unsecured senior notes 32 302 Term loan, due 2028 6,550 — Term loan, due 2023 12,618 18,132 Term loan, due 2026 712 1,209 Total interest expense on debt facilities $ 28,682 $ 25,779 Cash paid for interest expense was $ 25,609 23,134 As of December 31, 2021, the aggregate annual principal payments required to be made on the Company’s debt are as follows: SCHEDULE OF AGGREGATE ANNUAL PRINCIPAL PAYMENTS 2022 $ 22,222 2023 23,730 2024 43,184 2025 54,903 2026 19,268 Thereafter 286,972 Total $ 450,279

FAIR VALUE MEASUREMENTS AND FAI

FAIR VALUE MEASUREMENTS AND FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS AND FAIR VALUE DISCLOSURES	NOTE 9 — FAIR VALUE MEASUREMENTS AND FAIR VALUE DISCLOSURES ASC 820, Fair Value Measurements and Disclosures 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 Financial Instruments that are not Measured at Fair Value on a Recurring Basis 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— Debt— The estimated fair values of the Company’s financial instruments that are not measured at fair value on a recurring basis, categorized based upon the fair value hierarchy, at December 31, 2021 and 2020, are as follows: SCHEDULE OF HIERARCHY CATEGORIZED ON FAIR VALUE Carrying Fair Value Value Level 1 Level 2 December 31, 2021: Assets Cash and cash equivalents (1) $ 83,253 $ 83,253 $ — Total $ 83,253 $ 83,253 $ — Liabilities Term loan, due 2024, net $ 21,633 $ — $ 21,229 Alaska tankers term loan, due 2025, net 30,236 — 28,695 OSG 204 LLC term loan, due 2025, net 26,231 — 25,265 OSG 205 LLC and OSG Courageous II LLC term loan, due 2027, net 46,380 — 47,863 Term loan, due 2028, net 319,870 — 321,630 Unsecured senior notes, net 390 — 399 Total $ 444,740 $ — $ 445,081 Carrying Fair Value Value Level 1 Level 2 December 31, 2020: Assets Cash and cash equivalents (1) $ 69,819 $ 69,819 $ — Total $ 69,819 $ 69,819 $ — Liabilities Term loan, due 2023, net $ 252,057 $ — $ 257,228 Term loan, due 2024, net 22,972 — 23,535 Alaska tankers term loan, due 2025, net 50,360 — 49,357 OSG 204 LLC term loan, due 2025, net 31,283 — 31,562 Term loan, due 2026, net 23,171 — 21,921 OSG 205 LLC and OSG Courageous II LLC term loan, due 2027, net 48,586 — 52,199 Unsecured senior notes, net 691 — 715 Total $ 429,120 $ — $ 436,517 (1) Includes current and non-current restricted cash totaling $ 81 122 Nonfinancial Instruments that are Measured at Fair Value on a Nonrecurring Basis Vessel Impairments During the third quarter of 2021, the Company gave consideration as to whether events or changes in circumstances had occurred that could indicate that the carrying amounts of the Company’s operating lease right-of-use assets may not be fully recoverable. The Company concluded that the decline in previously forecasted cash flows on two of the Company’s leased vessels, due to a change in the expected deployment, constituted an impairment triggering event during the third quarter of 2021. Based on the Company’s analysis, an impairment charge of $ 1,000 Valuation of Intangible Assets The Company’s intangible assets at December 31, 2021 and 2020 consisted of long-term customer relationships acquired as part of the 2006 purchase of Maritrans, Inc. The long-term customer relationships are being amortized on a straight-line basis over 20 years. During the years ended December 31, 2021 and 2020, the Company gave consideration as to whether events or changes in circumstances had occurred that could indicate the carrying value of the Company’s intangible assets may not be recoverable. The Company concluded that no such events or changes in circumstances had occurred.

ACCOUNTS PAYABLE, ACCRUED EXPEN

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	NOTE 10 — ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES SCHEDULE OF ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES 2021 2020 Years Ended December 31, 2021 2020 Accounts payable $ 9,496 $ 8,717 Payroll and benefits 12,013 14,184 Interest 2,565 1,752 Insurance 335 1,040 Accrued drydock and repair costs 450 2,371 Bunkers and lubricants 1,125 725 Charter revenues received in advance 18,343 8,677 Accrued vessel expenses 4,095 9,642 Accrued general and administrative, primarily professional fees 860 307 Other 619 674 Accounts payable and other accrued liabilities, current $ 49,901 $ 48,089

TAXES

TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
TAXES	NOTE 11 — TAXES The benefit/(expense) for income taxes on income before income taxes consists of the following: SCHEDULE OF INCOME TAX (EXPENSE)/BENEFIT 2021 2020 Years Ended December 31, 2021 2020 Current - Federal $ (8 ) $ 161 Current - State (131 ) (48 ) Deferred - Federal 15,275 (5,401 ) Deferred - State 2,961 (897 ) Total $ 18,097 $ (6,185 ) The reconciliations between the U.S. federal statutory income tax rate and the effective tax rate follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION Years Ended December 31, 2021 2020 U.S. federal statutory income tax rate 21.0 % 21.0 % Adjustments due to: State taxes, net of federal benefit 3.7 % 2.9 % Change in valuation allowance 0.9 % 0.1 % Equity awards 0.0 % 0.1 % Return to provision (0.5 )% 0.5 % Nondeductible expenses 0.0 % 0.1 % Uncertain tax positions and tax examination settlement 0.0 % (1.9 )% U.S. income subject to tonnage tax 2.2 % (3.8 )% Other 0.8 % (1.9 )% Effective tax rate 28.1 % 17.1 % During the years ended December 31, 2021 and 2020, $ 6,700 6,500 Overseas Mykonos Overseas Santorini 2.2 (3.8) The significant components of the Company’s deferred tax liabilities and assets follow: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES 2021 2020 December 31, 2021 2020 Deferred tax liabilities: Vessels and other property (1) $ 121,169 $ 124,304 Prepaid expenditures 9,445 9,130 Operating lease right-of-use assets 40,176 55,754 Other-net 9 — Total deferred tax liabilities 170,799 189,188 Deferred tax assets: Loss carryforwards 75,874 64,487 Operating lease liability 40,217 55,426 Finance lease liability 5,180 5,754 Employee compensation and benefit plans 178 2,456 Financing and professional fees 5,993 15 Accrued expenses and other 33 1,062 Total deferred tax assets 127,475 129,200 Valuation allowance (20,420 ) (21,004 ) Net deferred tax assets 107,055 108,196 Net deferred tax liabilities $ 63,744 $ 80,992 (1) Includes deferred tax liabilities related to finance lease right-of-use assets totaling $ 4,737 5,441 As of December 31, 2021, the Company had U.S. federal net operating loss carryforwards of $ 243,547 which are available to reduce future taxes, if any. The federal net operating loss carryforwards begin to expire in 2034 . Additionally, as of December 31, 2021, the Company had U.S. state net operating loss carryforwards of $ 444,526 . These U.S. state net operating loss carryforwards expire in various years from December 31, 2022 through December 31, 2041 . Included in the financing and professional fees deferred income assets above are U.S. federal interest expense deductions with an indefinite carryforward period. The Company assessed all available positive and negative evidence to determine whether sufficient future taxable income will be generated to permit use of existing deferred tax assets. For U.S. federal deferred tax assets, the Company concluded that sufficient positive evidence existed, primarily the result of reversing deferred tax liabilities during the carryover period. However, for certain state deferred tax assets, the negative evidence has outweighed the positive evidence which has resulted in the Company establishing a valuation allowance of $ 20,420 21,004 During the year ended December 31, 2021, the Company paid income taxes (net of refunds received) of $ 1,751 5,695 of income taxes. The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (excluding interest and penalties): SCHEDULE OF UNRECOGNIZED TAX BENEFITS Years Ended December 31, 2021 2020 Balance of unrecognized tax benefits as of January 1, $ 813 $ 2,495 Increases/(decreases) for positions taken in prior years 21 (1,177 ) Decreases due to settlements with taxing authorities — (505 ) Balance of unrecognized tax benefits as of December 31, $ 834 $ 813 Included in the balance of unrecognized tax benefits as of December 31, 2021 and 2020 are $ 834 813 The Company records interest and penalties on unrecognized tax benefits in its provision for income taxes. Accrued interest and penalties are included within the related liability for unrecognized tax benefit line on the consolidated balance sheets. During the years ended December 31, 2021 and 2020, the Company accrued interest and recorded liabilities for interest and penalties which were not material to the consolidated financial statements. After taking into consideration tax attributes, such as net operating loss carryforwards and interest, the Company’s unrecognized tax benefits represent a noncurrent reserve for uncertain tax positions of $ 179 189 With few exceptions, the Company is no longer subject to state and local income tax examinations by tax authorities for years before 2016. The Company conducts business and files income tax returns in numerous states. Currently, one of the Company’s state tax returns is under examination by a state as part of routine audits conducted in the ordinary course of business. The future utilization of state net operating losses could potentially subject the Company to state examinations prior to the otherwise applicable statute of limitation. States vary in carryforward periods but generally extend up to 20 years or a period consistent with the federal limits under the Tax Cuts and Jobs Act.

CAPITAL STOCK AND STOCK COMPENS

CAPITAL STOCK AND STOCK COMPENSATION	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
CAPITAL STOCK AND STOCK COMPENSATION	NOTE 12 — CAPITAL STOCK AND STOCK COMPENSATION Ownership Restrictions In order to preserve the status of OSG as a Jones Act company, the percentage of each class of its common stock that may be owned by non-U.S. citizens is limited. In addition, the Company has established policies and procedures to ensure compliance with the Jones Act. In order to provide a reasonable margin for compliance with the Jones Act, our Board of Directors has determined that until further action by our Board, at least 77 Share Repurchases During the years ended December 31, 2021 and 2020, in connection with the vesting of restricted stock units (“RSUs”), the Company withheld 185,459 104,552 2.18 1.90 Warrant Conversions Each Class A warrant represents the right to purchase one share of Class A common stock, subject in each case to the adjustments as provided pursuant to the terms thereof. The warrants may be exercised at a price per share of Class A common stock, as applicable, of $ 0.01 19,110,902 3,631,071 During the years ended December 31, 2021 and 2020, the Company issued 23,612 473 124,862 2,498 Incentive Plans On September 23, 2014, the Company’s Compensation Committee (“the Committee”) approved the Overseas Shipholding Group, Inc. Management Incentive Compensation Plan (the “Management Compensation Plan”) and the Overseas Shipholding Group, Inc. Non-Employee Director Incentive Compensation Plan (the “Director Plan”). OSG stockholders approved these plans on June 9, 2015. On June 6, 2017, at the annual stockholders meeting, the Company’s stockholders approved an increase to the maximum number of shares for issuance under the Director Plan by 1,500,000 The Incentive Plans contain anti-dilution provisions whereby in the event of any change in the capitalization of the Company, the number and type of securities underlying outstanding share-based payment awards must be adjusted, as appropriate, in order to prevent dilution or enlargement of rights. The impact of these provisions resulted in a modification of all outstanding share-based payment awards upon the stock dividend, reverse stock split and spin-off transactions. As the fair value of the awards immediately after the stock dividend, reverse stock split and spin off transactions, did not increase when compared to the fair value of such awards immediately prior to such transactions, no incremental compensation costs were recognized as a result of such modifications. The purpose of the Incentive Plans is to promote the interests of the Company and its stockholders by providing certain employees and members of the Board, who are largely responsible for the management, growth and protection of the business of the Company, with incentives and rewards to encourage them to continue in the service of the Company. The Incentive Plans permit the Committee to grant to eligible employees and directors of the Company, as applicable, any of the following types of awards (or any combination thereof): cash incentive awards, nonqualified stock options, incentive stock options and other stock-based awards, including, without limitation, stock appreciation rights, phantom stock, restricted stock, restricted stock units, performance shares, deferred share units and share-denominated performance units. Stock Compensation The Company accounts for stock compensation expense in accordance with the fair value based method required by ASC 718, Compensation – Stock Compensation Director Compensation - Restricted Stock Units The Company awarded a total of 275,800 321,000 2.29 2.25 Management Compensation Restricted Stock Units During the years ended December 31, 2021 and 2020, the Company granted RSUs to its employees, including senior officers, covering 552,844 and 764,406 shares, respectively. The grant date fair value of these awards was $ 2.36 (2021) and $ 2.03 (2020) per RSU, respectively. 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. RSUs may not be transferred, pledged, assigned or otherwise encumbered until they are settled. Settlement of vested RSUs may be in either shares of Class A common stock or cash, as determined at the discretion of the Human Resources and Compensation Committee, and will occur as soon as practicable after the vesting date. If the RSUs are settled in shares of common stock, following the settlement of such shares, the grantee will be the record owner of the shares of Class A common stock and will have all the rights of a shareholder of the Company, including the right to vote such shares and the right to receive dividends paid with respect to such shares of Class A common stock. RSUs which have not become vested as of the date of a grantee’s termination from the Company will be forfeited without the payment of any consideration, unless otherwise provided for. During the years ended December 31, 2021 and 2020, the Company awarded performance-based RSUs to its senior officers covering 363,238 582,224 The ROIC Target RSU awards and the TSR Target RSU awards are subject to an increase up to a maximum of 181,619 and 291,112 target RSUs combined, respectively, ( 544,857 and 873,340 RSUs in total, respectively) or decrease, depending on performance against the applicable measure and targets. The performance awards have performance conditions which, as of December 31, 2021, management believed was probable of being achieved. Accordingly, for financial reporting purposes, compensation costs have been recognized for these awards. The grant date fair value of the performance awards, which have a market condition, was determined to be $ 2.36 (2021) and $ 2.03 (2020) per RSU, respectively. During the year ended December 31, 2021, the Company awarded performance-based RSUs to its senior officers covering 590,251 shares. The grant date fair value of these awards was $ 2.36 per RSU. Each performance-based RSU represents a contingent right to receive RSUs based on performance criteria tied to specific operational and financial goals that must be achieved over an 18-month performance period. Vesting is subject to certification by the Compensation Committee as to achievement of the performance measures. The performance awards have performance conditions which, as of December 31, 2021, management believed were not probable of being achieved. Accordingly, for financial reporting purposes, compensation costs have not been recognized for these awards. For the Incentive Plans, compensation expense is recognized over the vesting period, contingent or otherwise, applicable to each grant, using the straight-line method. Compensation expense as a result of the RSUs described above was $ 2,232 2,321 Activity with respect to restricted stock units under the Incentive Plans during the two years ended December 31, 2021 is summarized as follows: SCHEDULE OF RESTRICTED STOCK UNITS UNDER INCENTIVE PLANS Activity for the two years ended December 31, 2021 Class A common Nonvested Shares Outstanding at December 31, 2019 1,718,865 Granted 1,667,633 Vested ($ 1.74 2.32 (755,898 ) Forfeited ($ 1.74 2.27 (25,337 ) Nonvested Shares Outstanding at December 31, 2020 2,605,263 Granted 1,782,133 Vested ($ 2.12 2.31 (963,338 ) Forfeited ($ 1.69 2.59 (52,881 ) Nonvested Shares Outstanding at December 31, 2021 3,371,177 Activity with respect to stock options under the Incentive Plans during the two years ended December 31, 2021 is summarized as follows: SCHEDULE OF STOCK OPTIONS ACTIVITY UNDER INCENTIVE PLANS Activity for the two years ended December 31, 2021 Class A common Options Outstanding at December 31, 2019 1,478,756 Options Outstanding at December 31, 2020 1,478,756 Options Outstanding at December 31, 2021 1,478,756 Options Exercisable at December 31, 2021 1,478,756 The weighted average remaining contractual life of the outstanding stock options at December 31, 2021 was 6.18 1.70 5.57 2.67 There was no compensation expense as a result of the grants of stock options for the year ended December 31, 2021. Compensation expense as a result of the grants of stock options was not material for the year ended December 31, 2020. As of December 31, 2021, there was $ 4,441 1.63

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS)	NOTE 13 — ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) The components of accumulated other comprehensive income/(loss), net of related taxes at an effective tax rate of 28.1 % and 17.1 % for the years ended December 31, 2021 and 2020, respectively, on the consolidated balance sheets follow: SCHEDULE OF COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS 2021 2020 Years Ended December 31, 2021 2020 Items not yet recognized as a component of net periodic benefit cost (pension $ 2,943 $ (282 ) Accumulated other comprehensive loss $ 2,943 $ (282 ) The following tables present the changes in the balances of each component of accumulated other comprehensive income/(loss), net of related taxes, for the two years ended December 31, 2021. SCHEDULE OF CHANGES IN BALANCES OF COMPONENT OF ACCUMULATED OTHER COMPREHENSIVE LOSS Items not yet Balance as of December 31, 2020 $ (282 ) Current period change, excluding amounts reclassified from accumulated other 3,522 Amounts reclassified from accumulated other comprehensive income/(loss) (297 ) Total change in accumulated other comprehensive income/(loss) 3,225 Balance as of December 31, 2021 $ 2,943 Balance as of December 31, 2019 $ (6,409 ) Current period change, excluding amounts reclassified from accumulated other 5,935 Amounts reclassified from accumulated other comprehensive income/(loss) 192 Total change in accumulated other comprehensive income/(loss) 6,127 Balance as of December 31, 2020 $ (282 ) The following table presents information with respect to amounts reclassified out of accumulated other comprehensive income/(loss) for the two years ended December 31, 2021. SCHEDULE OF AMOUNTS RECLASSIFIED OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS Years Ended Statement of Accumulated Other Comprehensive Income/(Loss) Component 2021 2020 Line Item Items not yet recognized as a component of net periodic Net periodic benefit costs associated with pension and postretirement benefit plans for shore-based employees $ (63 ) $ 424 Other income, net Net periodic benefit costs associated with pension and postretirement benefit plans for seagoing employees 450 (174 ) Other income, net 387 250 Total before tax (684 ) (58 ) Tax provision $ (297 ) $ 192 Total net of tax The following amounts are included in accumulated other comprehensive income/(loss) at December 31, 2021, which have not yet been recognized in net periodic cost: unrecognized prior service credits of $ 6,884 ($ 5,708 net of tax) and unrecognized actuarial losse s $ 2,944 ($ 2,765 net of tax). The income tax (expense)/benefit allocated to each component of other comprehensive (loss)/income follows: SCHEDULE OF INCOME TAX (EXPENSE) BENEFIT ALLOCATED TO COMPONENT Items not yet recognized For the year ended December 31, 2021: Current period change excluding amounts reclassified from accumulated other comprehensive income/(loss) $ (1,069 ) Amounts reclassified from accumulated other comprehensive income/(loss) 90 Total change in accumulated other comprehensive income/(loss) $ (979 ) For the year ended December 31, 2020: Current period change excluding amounts reclassified from accumulated other comprehensive income/(loss) $ (1,803 ) Amounts reclassified from accumulated other comprehensive income/(loss) (58 ) Total change in accumulated other comprehensive income/(loss) $ (1,861 )

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
Leases
LEASES	NOTE 14 — LEASES The Company’s lease portfolio is comprised of vessels chartered-in, office space and equipment under agreements with contractual periods ranging from less than one year 13 The Company’s lease right-of-use assets and lease liabilities at December 31, 2021 and 2020 were as follows: SCHEDULE OF LEASE RIGHT-OF-USE ASSETS AND LEASE LIABILITIES December 31, 2021 2020 Operating leases Vessels chartered-in noncurrent operating lease assets $ 148,681 $ 213,414 Office space noncurrent operating lease assets 3,346 2,403 Total noncurrent operating lease assets $ 152,027 $ 215,817 Vessels chartered-in operating lease liabilities Current portion of operating lease liabilities $ 99,255 $ 89,889 Noncurrent operating lease liabilities 71,909 145,302 171,164 235,191 Office space operating lease liabilities Current portion of operating lease liabilities 755 724 Noncurrent operating lease liabilities 1,241 1,852 1,996 2,576 Total operating lease liabilities $ 173,160 $ 237,767 Finance lease Vessels and other property $ 26,940 $ 26,940 Accumulated amortization (5,906 ) (2,957 ) Vessels and other property, less accumulated amortization $ 21,034 $ 23,983 Current portion of finance lease liabilities $ 4,000 $ 4,000 Noncurrent finance lease liabilities 18,998 21,360 Total finance lease liabilities $ 22,998 $ 25,360 Charters-in As of December 31, 2021, the Company had commitments to charter-in 12 vessels, which are all bareboat charters. On March 12, 2020, the Company commenced a bareboat charter for the Alaskan Frontier The Company holds options for 11 of the vessels chartered-in. For one vessel, the option can be exercised for 3-years and is available indefinitely. For the remaining 10 vessels, the options can be exercised for one, three or five years with the one-year option only usable once, while the three- and five-year options are available indefinitely. The lease payments for the charters-in are fixed throughout the option periods and the options are on a vessel-by-vessel basis that can be exercised individually. The Company exercised its option on one of its vessels to extend the term until June 2025. On December 10, 2018, terms for five of the vessels were extended for an additional three years, with terms ending in December 2022, and terms for four of the vessels were extended for an additional year, with terms ending December 2020. On December 11, 2019, the terms for the four vessels ending December 2020 were extended for an additional three years, with terms ending in December 2023. On December 10, 2021, for the five vessels with terms ending in December 2022, the Company exercised its option to extend the terms of two of the vessels for an additional year, with terms ending in December 2023, and announced its intention to redeliver three of the vessels at the end of their lease terms in December 2022. Five of the Company’s chartered in vessels contain a deferred payment obligation (“DPO”) which relates to charter hire expense incurred by the Company in prior years and payable to the vessel owner in future periods. This DPO is due in quarterly installments with the final quarterly payment due upon lease termination. The future minimum commitments under these leases are as follows: SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS UNDER MINIMUM LEASE PAYMENTS At December 31, 2021 Operating Leases Finance Lease 2022 $ 102,140 $ 4,161 2023 67,118 4,161 2024 9,168 4,172 2025 4,535 4,161 2026 — 4,161 Thereafter — 8,858 Net minimum lease payments 182,961 29,674 Less present value discount (11,797 ) (6,676 ) Total lease liabilities $ 171,164 $ 22,998 The bareboat charters-in provide for variable lease payments in the form of profit share to the owners of the vessels calculated in accordance with the respective charter agreements or based on time charter sublease revenue. Because such amounts and the periods impacted are not reasonably estimable, they are not currently reflected in the table above. Due to reserve funding requirements and current rate forecasts, no profits are currently expected to be paid to the owners in respect of the charter term within the next year. For the years ended December 31, 2021 and 2020, lease expense for the Company’s chartered-in vessels accounted for as operating leases was $ 90,166 90,608 75,516 197,546 15,713 1,533 For the years ended December 31, 2021 and 2020, lease expense related to the Company’s finance lease was $ 2,949 2,957 1,799 1,973 Office space The Company has lease obligations for office space that generally require fixed annual rental payments and may also include escalation clauses and renewal options. The future minimum commitments under lease obligations for office space, which are operating leases, as of December 31, 2021 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS UNDER MINIMUM LEASE PAYMENTS At December 31, 2021 Amount 2022 $ 780 2023 609 2024 168 2025 100 2026 102 Thereafter 885 Net minimum lease payments 2,644 Less present value discount (648 ) Total lease liabilities $ 1,996 For the years ended December 31, 2021 and 2020, the rental expense for office space, which is included in general and administrative expenses on the consolidated statements of operations, was $ 640 851 748 739 Supplemental balance sheet information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES December 31, 2021 2020 Weighted average remaining lease term - operating leases 2.1 2.8 Weighted average discount rate - operating leases 6.5 % 6.5 % Weighted average remaining lease term - finance lease 7.1 8.1 Weighted average discount rate - finance lease 7.3 % 7.3 % Charters-out The Company enters into time charter contracts under which a customer pays a fixed daily or monthly rate for a fixed period of time for use of a vessel. The Company recognizes revenues from time charters as operating leases ratably over the noncancelable contract term. Under certain time charter contracts, the Company receives variable lease payments based on a defined profit share arrangement, which are recognized as revenue in the period in which the changes in facts and circumstances on which the variable lease payments are based occur. Customers generally pay voyage expenses such as fuel, canal tolls and port charges. The Company also provides the charterer with services such as technical management and crew costs. Services are recognized ratably over the life of the contract term. The Company is the lessor under its time charter contracts. Certain time charter contracts provide the charterer with the option to extend the contract for a specific period of time. For time charters, the Company applied the practical expedient to combine the lease and non-lease components for these contracts under ASC 842. Total time charter revenue for the years ended December 31, 2021 and 2020 was equal to lease income from lease payments of $ 254,181 343,290 563 1,222 355,388 284,259 The future minimum revenues, including rent escalations, which is equal to lease payments expected to be received over the noncancelable time charters term are as follows: SCHEDULE OF FUTURE MINIMUM COMMITMENTS OPERATING LEASES At December 31, 2021 Amount 2022 $ 210,856 2023 147,305 2024 115,503 2025 64,417 2026 14,356 Thereafter — Net minimum lease receipts $ 552,437 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 it cannot be assured that such estimate will be reflective of the actual off-hire in the future.

PENSION, OTHER POSTRETIREMENT B

PENSION, OTHER POSTRETIREMENT BENEFIT PLANS AND BENEFIT LIABILITIES	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
PENSION, OTHER POSTRETIREMENT BENEFIT PLANS AND BENEFIT LIABILITIES	NOTE 15 — PENSION, OTHER POSTRETIREMENT BENEFIT PLANS AND BENEFIT LIABILITIES For the years ended December 31, 2021 and 2020, pension and other benefit liabilities are included in other liabilities on the consolidated balance sheets. Pension Plans In connection with the November 2006 acquisition of Maritrans, the Company assumed the obligations under the defined benefit retirement plan of Maritrans Inc. (“the Maritrans Plan”). As of December 31, 2006, the Company froze the benefits under the Maritrans Plan. At December 31, 2021, the Maritrans Plan is the only defined benefit pension plan in existence at the Company. The Maritrans Plan was noncontributory and covered substantially all shore-based employees and substantially all of the seagoing supervisors who were supervisors in 1984, or who were hired in, or promoted into, supervisory roles between 1984 and 1998 for that period of time. Beginning in 1999, the seagoing supervisors’ retirement benefits are provided through contributions to an industry-wide, multiemployer union sponsored pension plan. Upon retirement, those seagoing supervisors are entitled to retirement benefits from the Maritrans Plan for service periods between 1984 and 1998 and from the multiemployer union sponsored plan for other covered periods. Retirement benefits are based primarily on years of service and average compensation for the five consecutive plan years that produce the highest results. Multiemployer Pension and Postretirement Benefit Plans The Company’s subsidiaries are parties to collective-bargaining agreements that require them to make contributions to three jointly managed (Company and union) multiemployer pension plans covering seagoing personnel of U.S. Flag vessels. All three plans, the American Maritime Officers (“AMO”) Pension Plan, the Seafarers Pension Plan (“SIU”) and the Marine Engineers’ Beneficial Association (“MEBA”) Defined Benefit Pension Plan, are deemed individually significant by management. Plan level information is available in the public domain for each of the multiemployer pension plans the Company participates in. The table below provides additional information about the Company’s participation in the above multi-employer pension plans: SCHEDULE OF MULTIEMPLOYER PLANS EIN / Pension Pension Protection Act Contributions made Pension Plan Plan Number 2021 2020 Rehabilitation 2021 2020 AMO Pension Plan 13-1936709 Green (1) Green (1) No $ 795 $ 580 MEBA Pension Plan 51-6029896 Green (1) Green (1) No 2,748 2,895 Seafarers Pension Plan 13-6100329 Green (1) Green (1) No 222 279 Total contributions $ 3,765 $ 3,754 (1) A “Yellow” Zone Status plan is a plan that has a funding ratio between 65% 80% 80% The plan years for the three union plans end as follows: MEBA and SIU on December 31 and AMO on September 30. The Company has no future minimum contribution requirements under the three multiemployer pension plans shown above as of December 31, 2021 and any future contributions are subject to negotiations between the employers and the unions. ERISA requires employers who are contributors to U.S. multiemployer plans to continue funding their allocable share of each plan’s unfunded vested benefits in the event of withdrawal from or termination of such plans. Based on information received from the trustees of the SIU Pension Plan, the Company is not subject to withdrawal liabilities under that plan. Based on the actuarial report received from the trustees of the MEBA Pension Plan, as of December 31, 2020, the Company’s estimated withdrawal liability would have been approximately $41,150 The SIU – Tug Agreement and AMO collective bargaining agreements for OSG expire in March 2024 and March 2022, respectively. The ATC MEBA collective bargaining agreement expires in May 2022 and the SIU – Tanker Agreement for OSG and MEBA for the Parent Company collective bargaining agreements expire in June 2022. Postretirement Benefit Plans The Company also provides certain postretirement health care and life insurance benefits to qualifying domestic retirees and their eligible dependents (“OSG Postretirement Plan”). The health care plan for shore-based employees and their dependents and seagoing licensed deck officers (“Deck Officers”) and their dependents is contributory at retirement, while the life insurance plan for all employees is noncontributory. In general, postretirement medical coverage is provided to shore-based employees hired prior to January 1, 2005 and all Deck Officers who retire and have met minimum age and service requirements under a formula related to total years of service. The Company no longer provides prescription drug coverage to its retirees or their beneficiaries once they reach age 65. The Company does not currently fund these benefit arrangements and has the right to amend or terminate the health care and life insurance benefits at any time. As part of the acquisition of ATC, the Company assumed liabilities of $ 9,898 related to a pension and postretirement plan (“ATC Plan”). The postretirement medical and life insurance plan provided benefits to shore-based employees and nonunion licensed deck officers at least 55 years of age with 10 years or more of service, as defined. The plan was frozen as of December 31, 2016, closed to new entrants as of January 1, 2017 and terminated December 31, 2020. The acquisition of the ATC Plan resulted in an increase in benefit obligation of $ 9,124 1,485 6,219 Information with respect to the domestic pension and postretirement benefit plans for which the Company uses a December 31 measurement date, follow: SCHEDULE OF BENEFIT OBLIGATIONS IN EXCESS OF FAIR VALUE OF PLAN ASSETS Pension Benefits Other Benefits At December 31, 2021 2020 2021 2020 Change in benefit obligation: Benefit obligation at beginning of year $ 48,979 $ 46,936 $ 5,871 $ 3,572 Cost of benefits earned (service cost) — — 203 307 Interest cost on benefit obligation 1,120 1,450 165 386 Actuarial (gains)/losses (1,868 ) 3,452 (435 ) (857 ) Benefits paid (2,761 ) (2,859 ) (267 ) (442 ) Plan Amendments — — — (6,219 ) Acquisition — — — 9,124 Benefit obligation at year end 45,470 48,979 5,537 5,871 Change in plan assets: Fair value of plan assets at beginning of year 42,216 36,754 — — Actual return on plan assets 5,257 6,726 — — Employer contributions 160 1,595 267 442 Benefits paid (2,761 ) (2,859 ) (267 ) (442 ) Fair value of plan assets at year end 44,872 42,216 — — Unfunded status at December 31 $ (598 ) $ (6,763 ) $ (5,537 ) $ (5,871 ) Information for defined benefit pension plans with accumulated benefit obligations in excess of plan assets follows: SCHEDULE OF ACCUMULATED BENEFIT OBLIGATIONS IN EXCESS OF FAIR VALUE OF PLAN ASSETS At December 31, 2021 2020 Projected benefit obligation $ 45,470 $ 48,979 Accumulated benefit obligation 45,470 48,979 Fair value of plan assets 44,872 42,216 Information for defined benefit pension plans and other postretirement benefit plans net periodic (benefit)/cost follows: SCHEDULE OF NET BENEFIT COSTS For the year ended December 31, 2021 2020 2021 2020 Pension Benefits Other Benefits For the year ended December 31, 2021 2020 2021 2020 Components of expense: Cost of benefits earned $ — $ — $ 203 $ 307 Interest cost on benefit obligation 1,120 1,450 165 386 Expected return on plan assets (2,970 ) (2,612 ) — — Amortization of prior-service costs — — (722 ) (229 ) Recognized net actuarial loss 335 444 — 35 Net periodic benefit cost $ (1,515 ) $ (718 ) $ (354 ) $ 499 The weighted-average assumptions used to determine benefit obligations follow: SCHEDULE OF ASSUMPTIONS USED Pension Benefits Other Benefits At December 31, 2021 2020 2021 2020 Discount rate 2.80 % 2.35 % 3.10 % 2.90 % The selection of a single discount rate for the Maritrans Plan was derived from bond yield curves, which the Company believed as of such dates to be appropriate for ongoing plans with a long duration, such as the Maritrans Plan, and that generally mirror the type of high yield bond portfolio the Company could acquire to offset its obligations under the Maritrans Plan. The weighted-average assumptions used to determine net periodic benefit cost follow: SCHEDULE OF ASSUMPTIONS USED Pension Benefits Other Benefits For the year ended December 31, 2021 2020 2021 2020 Discount rate 2.35 % 3.20 % 2.90 % 3.55 3.50 % Expected (long-term) return on plan assets 7.25 % 7.25 % — — The assumed health care cost trend rate for measuring the benefit obligation included in Other Benefits above is an increase of 6.00 4.75 Expected benefit payments for the following ten years are as follows: SCHEDULE OF EXPECTED BENEFIT PAYMENTS Pension Benefits Other Benefits 2022 $ 2,907 $ 268 2023 2,953 269 2024 3,022 268 2025 3,075 255 2026 3,077 248 2027-2031 14,360 1,282 Total $ 29,394 $ 2,590 The expected long-term rate of return on plan assets is based on the current and expected asset allocations. Additionally, the long-term rate of return is based on historical returns, investment strategy, inflation expectations and other economic factors. The expected long-term rate of return is then applied to the market value of plan assets. The fair values of the Company’s pension plan assets, which are valued based Level 1 inputs, at December 31, 2021 and 2020, by asset category are as follows: SCHEDULE OF CHANGES IN FAIR VALUE OF PLAN ASSETS Fair Value Level 1 At December 31, 2021 2020 Cash and cash equivalents $ 822 $ 773 Equity securities: Large cap exchange traded fund 17,005 15,998 Small company - mid value 2,868 3,050 Small company - mid growth 2,724 3,180 International value 3,181 3,162 International growth 3,360 3,326 Fixed income and preferred stock: Intermediate term bond fund 14,870 12,662 Small company - mid value - preferred stock 42 65 Total $ 44,872 $ 42,216 Plan fiduciaries of the Retirement Plan of Maritrans, Inc. set investment policies, strategies and oversee its investment allocation, which includes selecting investment managers and setting long term strategic targets. The primary strategic investment objective is to maximize total return while maintaining a broadly diversified portfolio for the primary purpose of satisfying obligations for future benefit payments. Equities are the primary holdings of the Retirement Plan of Maritrans, Inc. Other investments, including fixed income investments, provide diversification, and, in certain cases, lower the volatility of returns. In general, equity can range from 55 75 25 45 5 The Company contributed $ 160 1,595 Defined Contribution Plans The Company also had defined contribution plans covering all eligible employees. Contributions are limited to amounts allowable for income tax purposes. Commencing in 2006, employer contributions include both employer contributions made regardless of employee contributions and matching contributions to the plans. All contributions to the plans are at the discretion of the Company. The Company’s contributions to the plan were $ 2,415 2,888 The Company also has an unfunded, nonqualified supplemental savings plan covering highly compensated U.S. shore-based employees of the Company, which was terminated in connection with the Company’s filing for bankruptcy in 2012. This plan provided for levels of hypothetical employer contributions that would otherwise have been made under the Company’s defined contribution plans in the absence of limitations imposed by income tax regulations. The Company’s unfunded obligations under this plan at December 31, 2021 and 2020 were not material. Benefit Liabilities As part of the acquisition of ATC, the Company assumed liabilities related to a deferred compensation plan. The deferred compensation plan was an unfunded, nonqualified plan that allowed eligible employees to defer up to 100% of their performance bonuses, or defer up to 50% ( 5% minimum) of their salary, select investments for their deferral balances and determine when to be paid out. Eligible employees can elect to receive payment either on a specified date, or on a specified date after termination of employment, and either in a lump sum or annual installments, with a maximum deferral period of 20 years . The balance of the deferred compensation plan at December 31, 2021 was $ 10,727 , of which $ 2,640 is included in accounts payable, accrued expenses and other current liabilities and $ 8,087 is included in other liabilities on the consolidated balance sheets. At December 31, 2020, the balance of the deferred compensation plan was $ 10,079 and included in other liabilities on the consolidated balance sheets.

OTHER INCOME, NET

OTHER INCOME, NET	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
OTHER INCOME, NET	NOTE 16 — OTHER INCOME, NET Other income, net consists of: SCHEDULE OF OTHER NONOPERATING INCOME Years Ended December 31, 2021 2020 Investment income: Interest $ 5 $ 102 Change in investment value (241 ) (248 ) (236 ) (146 ) Pension and post retirement items (1) 2,157 2,071 Miscellaneous-net 64 489 $ 1,985 $ 2,414 (1) The Company includes the service cost component for net periodic benefit cost/(income) in vessel expenses and general and administrative expenses and other components in other income, net on the consolidated statements of operations.

CONTINGENCIES

CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	NOTE 17 — CONTINGENCIES The Company’s policy for recording legal costs related to contingencies is to expense such legal costs as incurred. 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.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	1. Cash and cash equivalents
Vessels, vessel lives, deferred drydocking expenditures and other property	2. Vessels, vessel lives, deferred drydocking expenditures and other property Vessels are recorded at cost and are depreciated to their estimated salvage value on the straight-line basis over the estimated useful lives of the vessels, which are generally 25 years (except for new ATBs for which estimated useful lives of 30 years are used) Other property, including leasehold improvements, are recorded at cost and amortized on a straight-line basis over the shorter of the terms of the leases or the estimated useful lives of the assets, which range from three years 15 Interest costs are capitalized to vessels and other property during the period that vessels are under construction and projects are in progress. During the years ended December 31, 2021 and 2020, interest costs capitalized were $ 1,427 3,717 Expenditures incurred during a drydocking are deferred and amortized on the straight-line basis over the shorter of the terms of the leases or the period until the next scheduled drydocking, generally two and a half to five years. The Company only includes in deferred drydocking costs those direct costs that are incurred as part of the drydocking to meet regulatory requirements, or are expenditures that add economic life to the vessel, increase the vessel’s earnings capacity or improve the vessel’s efficiency. Direct costs include shipyard costs as well as the costs of placing the vessel in the shipyard. Expenditures for normal maintenance and repairs, whether incurred as part of the drydocking or not, are expensed as incurred. The carrying value of each of the Company’s vessels represents its original cost at the time it was delivered or purchased less depreciation calculated using estimated useful lives from the date such vessel was originally delivered from the shipyard or from the date (as in the case of certain of the Company’s ATBs) a vessel was rebuilt. A vessel’s carrying value is reduced to its new cost basis (i.e., its current fair value) if a vessel impairment charge is recorded. If the estimated economic lives assigned to the Company’s vessels prove to be too long because of new regulations, a prolonged weak market environment, a broad imposition of age restrictions by the Company’s customers, or other future events, it could result in higher depreciation expense and impairment losses in future periods related to a reduction in the useful lives of any affected vessels.
Impairment of long-lived assets, including right-of-use assets	3. Impairment of long-lived assets, including right-of-use assets - The carrying amounts of long-lived assets held and used by the Company are reviewed for potential impairment whenever events or changes in circumstances indicate that the carrying amount of a particular asset may not be fully recoverable. In such instances, the requirement for impairment could be triggered if the estimate of the undiscounted future cash flows expected to result from the use of the asset and its eventual disposition is less than the asset’s carrying amount. This assessment is made at the individual vessel level since separately identifiable cash flow information for each vessel is available. The impairment charge, if any, would be measured as the amount by which the carrying amount of a vessel exceeded its fair value. A long-lived asset impairment charge results in a new cost basis being established for the relevant long-lived asset. See Note 9, “Fair Value Measurements and Fair Value Disclosures,” for further discussion on the impairment tests performed on our vessels during the two years ended December 31, 2021.
Intangible assets	4. Intangible assets
Deferred finance charges	5. Deferred finance charges Unamortized deferred financing charges of $ 5,542 6,998 2,099 2,286
Revenue and expense recognition	6. Revenue and expense recognition The Company classifies time charter leasing arrangements less than 90 days within the voyage charter revenue financial statement line item because the Company believes the pricing negotiated within these short-term time charter contracts more closely aligns with the Company’s voyage charter spot market. Under voyage charters, expenses such as fuel, port charges, canal tolls, cargo handling operations and brokerage commissions are paid by the Company whereas, under time and bareboat charters, such voyage costs are generally paid by the Company’s customers. The Company receives a stipend pursuant to the Maritime Security Act of 1996 for the two U.S. Flag Product Carriers which participate in the U.S. MSP program. This stipend has been recorded as an offset to vessel expenses which amounted to $ 10,500 9,665
Voyage receivables	7. Voyage receivables
Concentration of credit risk	8. Concentration of credit risk - Financial instruments that potentially subject the Company to concentrations of credit risk are voyage receivables due from charterers. With respect to voyage receivables, the Company limits its credit risk by performing ongoing credit evaluations. Voyage receivables reflected on the consolidated balance sheets as of December 31, 2021 and 2020 are net of a reserve for doubtful accounts of $ 150 and $ 4,604 , respectively. In June 2019, one of the Company’s lightering customers, PES, suffered an explosion and fire at their refinery in the Delaware Bay. In July 2019, PES filed a Chapter 11 bankruptcy petition. The reserve for doubtful accounts at December 31, 2020 included a provision of $ 4,300 on outstanding receivables of $ 4,300 from PES that we established in the second quarter of 2019. During the fourth quarter of 2021, our recovery became determinable and we recognized a recovery of $ 1,080 1,080 payment was received by us in February 2022. During the years ended December 31, 2021 and 2020, the Company had two and three individual customers, respectively, who accounted for 10% or more of the Company’s revenues. The customers and their related percentages were Hilcorp North Slope LLC ( 28.2 10.6% 12.6% 11.4% 10.1% The Company’s cash and cash equivalents balances generally exceed Federal Deposit Insurance Corporation insurance limits. Cash and cash equivalents are placed in what the Company believes to be creditworthy financial institutions. In addition, certain of the Company’s money market accounts invest in U.S. Treasury securities or other obligations issued or guaranteed by the U.S. government or its agencies.
Income taxes	9. Income taxes Net deferred tax assets are recorded to the extent the Company believes these assets will more likely than not be realized. In making such a determination, all available positive and negative evidence is considered, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company were to determine that it would be able to realize its deferred income tax assets in the future in excess of their net recorded amount, an adjustment would be made to the deferred tax asset valuation allowance, which would reduce the provision for income taxes in the period such determination is made. Uncertain tax positions are recorded in accordance with ASC 740, Income Taxes greater than 50
Use of estimates	10. Use of estimates
Segment information	11. Segment information
Inventories	12. Inventories
Acquisition of Alaska Tanker Company, LLC and related transactions	13. Acquisition of Alaska Tanker Company, LLC and related transactions
Recently adopted accounting standard	14. Recently adopted accounting standard Codification Improvements In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes
Recently issued accounting standard	15. Recently issued accounting standard Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Codification Improvements to Topic 326 In November 2019, the FASB issued ASU 2019-10, Financial Instruments – Credit Losses (Topic 326) Derivatives and Hedging (Topic 815) Leases (Topic 842): Effective Dates Bucket 1— All public business entities (“PBEs”) that are SEC filers (as defined in U.S. GAAP), excluding smaller reporting companies (“SRCs”) (as defined by the SEC). The credit losses standard became effective January 1, 2020. Bucket 2— All other entities, including SRCs, other PBEs that are not SEC filers, private companies, not-for-profit organizations, and employee benefit plans. The credit losses standard is to become effective January 1, 2023. At June 30, 2019, the evaluation date for purposes of determining the applicability of the credit losses standard, the Company met the SEC definition of a smaller reporting company. Accordingly, the Company plans to adopt the credit losses standard on January 1, 2023. Management is currently reviewing the impact of the adoption of this accounting standard on the Company’s consolidated financial statements.

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2021
Per Share Amounts:
SCHEDULE OF EARNINGS PER SHARE	The components of the calculation of basic earnings per share and diluted earnings per share are as follows: SCHEDULE OF EARNINGS PER SHARE Years Ended December 31, 2021 2020 Net (loss)/income $ (46,252 ) $ 30,004 Weighted average common shares outstanding: Class A common stock - basic 90,587,454 89,794,392 Class A common stock - diluted 90,587,454 90,838,262

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATION OF REVENUE	The following table shows the Company’s shipping revenues disaggregated by nature of the charter arrangement for the years ended December 31, 2021 and 2020: SCHEDULE OF DISAGGREGATION OF REVENUE Years Ended December 31, 2021 2020 Time and bareboat charter revenues $ 254,744 $ 344,512 Voyage charter revenues (1) 57,946 29,752 Contracts of affreightment revenues 46,372 44,428 Total shipping revenues $ 359,062 $ 418,692 (1) Voyage charter revenues include approximately $ 14,843 15,466

VESSELS, OTHER PROPERTY AND D_2

VESSELS, OTHER PROPERTY AND DEFERRED DRYDOCK (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
SCHEDULE OF VESSELS AND OTHER PROPERTY	Vessels and other property consist of the following: SCHEDULE OF VESSELS AND OTHER PROPERTY 2021 2020 Years Ended December 31, 2021 2020 Vessels, at cost $ 1,066,327 $ 1,099,187 Accumulated depreciation (345,531 ) (308,449 ) Vessels, net 720,796 790,738 Construction in progress 19,799 17,238 Finance lease right-of-use asset, at cost (Note 14) 26,940 26,940 Accumulated amortization (Note 14) (5,906 ) (2,957 ) Finance lease right-of use asset, net (Note 14) 21,034 23,983 Other property, at cost 5,578 5,552 Transfers from construction in progress — 25 Accumulated depreciation and amortization (5,430 ) (5,362 ) Other property, net 148 215 Total vessels and other property $ 761,777 $ 832,174
SUMMARY OF VESSEL ACTIVITY EXCLUDING CONSTRUCTION PROGRESS	Vessel activity, excluding construction in progress, for the two years ended December 31, 2021 is summarized as follows: SUMMARY OF VESSEL ACTIVITY EXCLUDING CONSTRUCTION PROGRESS Vessel Cost Accumulated Net Book Balance at December 31, 2019 $ 919,212 $ (274,900 ) $ 644,312 Transfers from construction in progress 111,685 — Additions 74,076 — Depreciation — (37,339 ) Disposals (5,786 ) 3,790 Balance at December 31, 2020 1,099,187 (308,449 ) 790,738 Transfers from construction in progress 6,836 — Depreciation — (39,398 ) Disposals (39,696 ) 2,316 Balance at December 31, 2021 $ 1,066,327 $ (345,531 ) $ 720,796
SUMMARY OF DRYDOCKING ACTIVITY	Drydocking activity for the two years ended December 31, 2021 is summarized as follows: SUMMARY OF DRYDOCKING ACTIVITY 2021 2020 Balance at January 1 $ 43,134 $ 23,734 Additions 15,017 33,398 Drydock amortization (14,809 ) (13,998 ) Balance at December 31 $ 43,342 $ 43,134

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
SCHEDULE OF INTANGIBLE ASSETS	Intangible assets activity for the two years ended December 31, 2021 is summarized as follows: SCHEDULE OF INTANGIBLE ASSETS Total Balance at December 31, 2019 $ 31,817 Amortization (4,600 ) Balance at December 31, 2020 27,217 Amortization (4,600 ) Balance at December 31, 2021 $ 22,617

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
SCHEDULE OF LONG-TERM DEBT INSTRUMENTS	Debt consists of the following: SCHEDULE OF LONG-TERM DEBT INSTRUMENTS December 31, 2021 2020 Term loan, due 2024, net of unamortized deferred costs of $398 and $426 $ 21,633 $ 22,972 Term loan, due 2024 398 426 $ 21,633 $ 22,972 Alaska tankers term loan, due 2025 421 623 30,236 50,360 OSG 204 LLC term loan, due 2025 646 636 26,231 31,283 OSG 205 LLC and OSG Courageous II LLC term loan, due 2027 734 564 46,380 48,586 Unsecured senior notes, net of unamortized deferred costs 390 691 Term loan, due 2028 3,343 319,870 — Term loan, due 2023 4,676 — 252,057 Term loan, due 2026 73 — 23,171 Total debt 444,740 429,120 Less current installments of long-term debt (22,225 ) (38,922 ) Total long-term debt $ 422,515 $ 390,198
SCHEDULE OF DEBT EXPENSES	The following table summarizes interest expense, including amortization of issuance and deferred financing costs, commitment, administrative and other fees, recognized during the two years ended December 31, 2021 with respect to the Company’s debt facilities: SCHEDULE OF DEBT EXPENSES Years Ended December 31, Debt Facility 2021 2020 Term loan, due 2024 $ 1,407 $ 2,383 Alaska tankers term loan, due 2025 2,193 2,014 OSG 204 LLC term loan, due 2025 1,747 1,365 OSG 205 LLC and OSG Courageous II LLC term loan, due 2027 3,423 374 Unsecured senior notes 32 302 Term loan, due 2028 6,550 — Term loan, due 2023 12,618 18,132 Term loan, due 2026 712 1,209 Total interest expense on debt facilities $ 28,682 $ 25,779
SCHEDULE OF AGGREGATE ANNUAL PRINCIPAL PAYMENTS	As of December 31, 2021, the aggregate annual principal payments required to be made on the Company’s debt are as follows: SCHEDULE OF AGGREGATE ANNUAL PRINCIPAL PAYMENTS 2022 $ 22,222 2023 23,730 2024 43,184 2025 54,903 2026 19,268 Thereafter 286,972 Total $ 450,279

FAIR VALUE MEASUREMENTS AND F_2

FAIR VALUE MEASUREMENTS AND FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
SCHEDULE OF HIERARCHY CATEGORIZED ON FAIR VALUE	SCHEDULE OF HIERARCHY CATEGORIZED ON FAIR VALUE Carrying Fair Value Value Level 1 Level 2 December 31, 2021: Assets Cash and cash equivalents (1) $ 83,253 $ 83,253 $ — Total $ 83,253 $ 83,253 $ — Liabilities Term loan, due 2024, net $ 21,633 $ — $ 21,229 Alaska tankers term loan, due 2025, net 30,236 — 28,695 OSG 204 LLC term loan, due 2025, net 26,231 — 25,265 OSG 205 LLC and OSG Courageous II LLC term loan, due 2027, net 46,380 — 47,863 Term loan, due 2028, net 319,870 — 321,630 Unsecured senior notes, net 390 — 399 Total $ 444,740 $ — $ 445,081 Carrying Fair Value Value Level 1 Level 2 December 31, 2020: Assets Cash and cash equivalents (1) $ 69,819 $ 69,819 $ — Total $ 69,819 $ 69,819 $ — Liabilities Term loan, due 2023, net $ 252,057 $ — $ 257,228 Term loan, due 2024, net 22,972 — 23,535 Alaska tankers term loan, due 2025, net 50,360 — 49,357 OSG 204 LLC term loan, due 2025, net 31,283 — 31,562 Term loan, due 2026, net 23,171 — 21,921 OSG 205 LLC and OSG Courageous II LLC term loan, due 2027, net 48,586 — 52,199 Unsecured senior notes, net 691 — 715 Total $ 429,120 $ — $ 436,517 (1) Includes current and non-current restricted cash totaling $ 81 122

ACCOUNTS PAYABLE, ACCRUED EXP_2

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
SCHEDULE OF ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	SCHEDULE OF ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES 2021 2020 Years Ended December 31, 2021 2020 Accounts payable $ 9,496 $ 8,717 Payroll and benefits 12,013 14,184 Interest 2,565 1,752 Insurance 335 1,040 Accrued drydock and repair costs 450 2,371 Bunkers and lubricants 1,125 725 Charter revenues received in advance 18,343 8,677 Accrued vessel expenses 4,095 9,642 Accrued general and administrative, primarily professional fees 860 307 Other 619 674 Accounts payable and other accrued liabilities, current $ 49,901 $ 48,089

TAXES (Tables)

TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
SCHEDULE OF INCOME TAX (EXPENSE)/BENEFIT	The benefit/(expense) for income taxes on income before income taxes consists of the following: SCHEDULE OF INCOME TAX (EXPENSE)/BENEFIT 2021 2020 Years Ended December 31, 2021 2020 Current - Federal $ (8 ) $ 161 Current - State (131 ) (48 ) Deferred - Federal 15,275 (5,401 ) Deferred - State 2,961 (897 ) Total $ 18,097 $ (6,185 )
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION	The reconciliations between the U.S. federal statutory income tax rate and the effective tax rate follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION Years Ended December 31, 2021 2020 U.S. federal statutory income tax rate 21.0 % 21.0 % Adjustments due to: State taxes, net of federal benefit 3.7 % 2.9 % Change in valuation allowance 0.9 % 0.1 % Equity awards 0.0 % 0.1 % Return to provision (0.5 )% 0.5 % Nondeductible expenses 0.0 % 0.1 % Uncertain tax positions and tax examination settlement 0.0 % (1.9 )% U.S. income subject to tonnage tax 2.2 % (3.8 )% Other 0.8 % (1.9 )% Effective tax rate 28.1 % 17.1 %
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	The significant components of the Company’s deferred tax liabilities and assets follow: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES 2021 2020 December 31, 2021 2020 Deferred tax liabilities: Vessels and other property (1) $ 121,169 $ 124,304 Prepaid expenditures 9,445 9,130 Operating lease right-of-use assets 40,176 55,754 Other-net 9 — Total deferred tax liabilities 170,799 189,188 Deferred tax assets: Loss carryforwards 75,874 64,487 Operating lease liability 40,217 55,426 Finance lease liability 5,180 5,754 Employee compensation and benefit plans 178 2,456 Financing and professional fees 5,993 15 Accrued expenses and other 33 1,062 Total deferred tax assets 127,475 129,200 Valuation allowance (20,420 ) (21,004 ) Net deferred tax assets 107,055 108,196 Net deferred tax liabilities $ 63,744 $ 80,992 (1) Includes deferred tax liabilities related to finance lease right-of-use assets totaling $ 4,737 5,441
SCHEDULE OF UNRECOGNIZED TAX BENEFITS	The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (excluding interest and penalties): SCHEDULE OF UNRECOGNIZED TAX BENEFITS Years Ended December 31, 2021 2020 Balance of unrecognized tax benefits as of January 1, $ 813 $ 2,495 Increases/(decreases) for positions taken in prior years 21 (1,177 ) Decreases due to settlements with taxing authorities — (505 ) Balance of unrecognized tax benefits as of December 31, $ 834 $ 813

CAPITAL STOCK AND STOCK COMPE_2

CAPITAL STOCK AND STOCK COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
SCHEDULE OF RESTRICTED STOCK UNITS UNDER INCENTIVE PLANS	Activity with respect to restricted stock units under the Incentive Plans during the two years ended December 31, 2021 is summarized as follows: SCHEDULE OF RESTRICTED STOCK UNITS UNDER INCENTIVE PLANS Activity for the two years ended December 31, 2021 Class A common Nonvested Shares Outstanding at December 31, 2019 1,718,865 Granted 1,667,633 Vested ($ 1.74 2.32 (755,898 ) Forfeited ($ 1.74 2.27 (25,337 ) Nonvested Shares Outstanding at December 31, 2020 2,605,263 Granted 1,782,133 Vested ($ 2.12 2.31 (963,338 ) Forfeited ($ 1.69 2.59 (52,881 ) Nonvested Shares Outstanding at December 31, 2021 3,371,177
SCHEDULE OF STOCK OPTIONS ACTIVITY UNDER INCENTIVE PLANS	Activity with respect to stock options under the Incentive Plans during the two years ended December 31, 2021 is summarized as follows: SCHEDULE OF STOCK OPTIONS ACTIVITY UNDER INCENTIVE PLANS Activity for the two years ended December 31, 2021 Class A common Options Outstanding at December 31, 2019 1,478,756 Options Outstanding at December 31, 2020 1,478,756 Options Outstanding at December 31, 2021 1,478,756 Options Exercisable at December 31, 2021 1,478,756

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Tables)	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
SCHEDULE OF COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS	SCHEDULE OF COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS 2021 2020 Years Ended December 31, 2021 2020 Items not yet recognized as a component of net periodic benefit cost (pension $ 2,943 $ (282 ) Accumulated other comprehensive loss $ 2,943 $ (282 )
SCHEDULE OF CHANGES IN BALANCES OF COMPONENT OF ACCUMULATED OTHER COMPREHENSIVE LOSS	The following tables present the changes in the balances of each component of accumulated other comprehensive income/(loss), net of related taxes, for the two years ended December 31, 2021. SCHEDULE OF CHANGES IN BALANCES OF COMPONENT OF ACCUMULATED OTHER COMPREHENSIVE LOSS Items not yet Balance as of December 31, 2020 $ (282 ) Current period change, excluding amounts reclassified from accumulated other 3,522 Amounts reclassified from accumulated other comprehensive income/(loss) (297 ) Total change in accumulated other comprehensive income/(loss) 3,225 Balance as of December 31, 2021 $ 2,943 Balance as of December 31, 2019 $ (6,409 ) Current period change, excluding amounts reclassified from accumulated other 5,935 Amounts reclassified from accumulated other comprehensive income/(loss) 192 Total change in accumulated other comprehensive income/(loss) 6,127 Balance as of December 31, 2020 $ (282 )
SCHEDULE OF AMOUNTS RECLASSIFIED OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS	The following table presents information with respect to amounts reclassified out of accumulated other comprehensive income/(loss) for the two years ended December 31, 2021. SCHEDULE OF AMOUNTS RECLASSIFIED OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS Years Ended Statement of Accumulated Other Comprehensive Income/(Loss) Component 2021 2020 Line Item Items not yet recognized as a component of net periodic Net periodic benefit costs associated with pension and postretirement benefit plans for shore-based employees $ (63 ) $ 424 Other income, net Net periodic benefit costs associated with pension and postretirement benefit plans for seagoing employees 450 (174 ) Other income, net 387 250 Total before tax (684 ) (58 ) Tax provision $ (297 ) $ 192 Total net of tax
SCHEDULE OF INCOME TAX (EXPENSE) BENEFIT ALLOCATED TO COMPONENT	The income tax (expense)/benefit allocated to each component of other comprehensive (loss)/income follows: SCHEDULE OF INCOME TAX (EXPENSE) BENEFIT ALLOCATED TO COMPONENT Items not yet recognized For the year ended December 31, 2021: Current period change excluding amounts reclassified from accumulated other comprehensive income/(loss) $ (1,069 ) Amounts reclassified from accumulated other comprehensive income/(loss) 90 Total change in accumulated other comprehensive income/(loss) $ (979 ) For the year ended December 31, 2020: Current period change excluding amounts reclassified from accumulated other comprehensive income/(loss) $ (1,803 ) Amounts reclassified from accumulated other comprehensive income/(loss) (58 ) Total change in accumulated other comprehensive income/(loss) $ (1,861 )

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
SCHEDULE OF LEASE RIGHT-OF-USE ASSETS AND LEASE LIABILITIES	The Company’s lease right-of-use assets and lease liabilities at December 31, 2021 and 2020 were as follows: SCHEDULE OF LEASE RIGHT-OF-USE ASSETS AND LEASE LIABILITIES December 31, 2021 2020 Operating leases Vessels chartered-in noncurrent operating lease assets $ 148,681 $ 213,414 Office space noncurrent operating lease assets 3,346 2,403 Total noncurrent operating lease assets $ 152,027 $ 215,817 Vessels chartered-in operating lease liabilities Current portion of operating lease liabilities $ 99,255 $ 89,889 Noncurrent operating lease liabilities 71,909 145,302 171,164 235,191 Office space operating lease liabilities Current portion of operating lease liabilities 755 724 Noncurrent operating lease liabilities 1,241 1,852 1,996 2,576 Total operating lease liabilities $ 173,160 $ 237,767 Finance lease Vessels and other property $ 26,940 $ 26,940 Accumulated amortization (5,906 ) (2,957 ) Vessels and other property, less accumulated amortization $ 21,034 $ 23,983 Current portion of finance lease liabilities $ 4,000 $ 4,000 Noncurrent finance lease liabilities 18,998 21,360 Total finance lease liabilities $ 22,998 $ 25,360
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS UNDER MINIMUM LEASE PAYMENTS	The future minimum commitments under these leases are as follows: SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS UNDER MINIMUM LEASE PAYMENTS At December 31, 2021 Operating Leases Finance Lease 2022 $ 102,140 $ 4,161 2023 67,118 4,161 2024 9,168 4,172 2025 4,535 4,161 2026 — 4,161 Thereafter — 8,858 Net minimum lease payments 182,961 29,674 Less present value discount (11,797 ) (6,676 ) Total lease liabilities $ 171,164 $ 22,998
SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES	Supplemental balance sheet information related to leases was as follows: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES December 31, 2021 2020 Weighted average remaining lease term - operating leases 2.1 2.8 Weighted average discount rate - operating leases 6.5 % 6.5 % Weighted average remaining lease term - finance lease 7.1 8.1 Weighted average discount rate - finance lease 7.3 % 7.3 %
SCHEDULE OF FUTURE MINIMUM COMMITMENTS OPERATING LEASES	The future minimum revenues, including rent escalations, which is equal to lease payments expected to be received over the noncancelable time charters term are as follows: SCHEDULE OF FUTURE MINIMUM COMMITMENTS OPERATING LEASES At December 31, 2021 Amount 2022 $ 210,856 2023 147,305 2024 115,503 2025 64,417 2026 14,356 Thereafter — Net minimum lease receipts $ 552,437
Office Space [Member]
Property, Plant and Equipment [Line Items]
SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS UNDER MINIMUM LEASE PAYMENTS	The future minimum commitments under lease obligations for office space, which are operating leases, as of December 31, 2021 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS UNDER MINIMUM LEASE PAYMENTS At December 31, 2021 Amount 2022 $ 780 2023 609 2024 168 2025 100 2026 102 Thereafter 885 Net minimum lease payments 2,644 Less present value discount (648 ) Total lease liabilities $ 1,996

PENSION, OTHER POSTRETIREMENT_2

PENSION, OTHER POSTRETIREMENT BENEFIT PLANS AND BENEFIT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
Multiemployer Plan [Line Items]
SCHEDULE OF MULTIEMPLOYER PLANS	Plan level information is available in the public domain for each of the multiemployer pension plans the Company participates in. The table below provides additional information about the Company’s participation in the above multi-employer pension plans: SCHEDULE OF MULTIEMPLOYER PLANS EIN / Pension Pension Protection Act Contributions made Pension Plan Plan Number 2021 2020 Rehabilitation 2021 2020 AMO Pension Plan 13-1936709 Green (1) Green (1) No $ 795 $ 580 MEBA Pension Plan 51-6029896 Green (1) Green (1) No 2,748 2,895 Seafarers Pension Plan 13-6100329 Green (1) Green (1) No 222 279 Total contributions $ 3,765 $ 3,754 (1) A “Yellow” Zone Status plan is a plan that has a funding ratio between 65% 80% 80%
SCHEDULE OF BENEFIT OBLIGATIONS IN EXCESS OF FAIR VALUE OF PLAN ASSETS	Information with respect to the domestic pension and postretirement benefit plans for which the Company uses a December 31 measurement date, follow: SCHEDULE OF BENEFIT OBLIGATIONS IN EXCESS OF FAIR VALUE OF PLAN ASSETS Pension Benefits Other Benefits At December 31, 2021 2020 2021 2020 Change in benefit obligation: Benefit obligation at beginning of year $ 48,979 $ 46,936 $ 5,871 $ 3,572 Cost of benefits earned (service cost) — — 203 307 Interest cost on benefit obligation 1,120 1,450 165 386 Actuarial (gains)/losses (1,868 ) 3,452 (435 ) (857 ) Benefits paid (2,761 ) (2,859 ) (267 ) (442 ) Plan Amendments — — — (6,219 ) Acquisition — — — 9,124 Benefit obligation at year end 45,470 48,979 5,537 5,871 Change in plan assets: Fair value of plan assets at beginning of year 42,216 36,754 — — Actual return on plan assets 5,257 6,726 — — Employer contributions 160 1,595 267 442 Benefits paid (2,761 ) (2,859 ) (267 ) (442 ) Fair value of plan assets at year end 44,872 42,216 — — Unfunded status at December 31 $ (598 ) $ (6,763 ) $ (5,537 ) $ (5,871 )
SCHEDULE OF ACCUMULATED BENEFIT OBLIGATIONS IN EXCESS OF FAIR VALUE OF PLAN ASSETS	Information for defined benefit pension plans with accumulated benefit obligations in excess of plan assets follows: SCHEDULE OF ACCUMULATED BENEFIT OBLIGATIONS IN EXCESS OF FAIR VALUE OF PLAN ASSETS At December 31, 2021 2020 Projected benefit obligation $ 45,470 $ 48,979 Accumulated benefit obligation 45,470 48,979 Fair value of plan assets 44,872 42,216
SCHEDULE OF NET BENEFIT COSTS	Information for defined benefit pension plans and other postretirement benefit plans net periodic (benefit)/cost follows: SCHEDULE OF NET BENEFIT COSTS For the year ended December 31, 2021 2020 2021 2020 Pension Benefits Other Benefits For the year ended December 31, 2021 2020 2021 2020 Components of expense: Cost of benefits earned $ — $ — $ 203 $ 307 Interest cost on benefit obligation 1,120 1,450 165 386 Expected return on plan assets (2,970 ) (2,612 ) — — Amortization of prior-service costs — — (722 ) (229 ) Recognized net actuarial loss 335 444 — 35 Net periodic benefit cost $ (1,515 ) $ (718 ) $ (354 ) $ 499
SCHEDULE OF EXPECTED BENEFIT PAYMENTS	Expected benefit payments for the following ten years are as follows: SCHEDULE OF EXPECTED BENEFIT PAYMENTS Pension Benefits Other Benefits 2022 $ 2,907 $ 268 2023 2,953 269 2024 3,022 268 2025 3,075 255 2026 3,077 248 2027-2031 14,360 1,282 Total $ 29,394 $ 2,590
SCHEDULE OF CHANGES IN FAIR VALUE OF PLAN ASSETS	The fair values of the Company’s pension plan assets, which are valued based Level 1 inputs, at December 31, 2021 and 2020, by asset category are as follows: SCHEDULE OF CHANGES IN FAIR VALUE OF PLAN ASSETS Fair Value Level 1 At December 31, 2021 2020 Cash and cash equivalents $ 822 $ 773 Equity securities: Large cap exchange traded fund 17,005 15,998 Small company - mid value 2,868 3,050 Small company - mid growth 2,724 3,180 International value 3,181 3,162 International growth 3,360 3,326 Fixed income and preferred stock: Intermediate term bond fund 14,870 12,662 Small company - mid value - preferred stock 42 65 Total $ 44,872 $ 42,216
Benefit Obligations [Member]
Multiemployer Plan [Line Items]
SCHEDULE OF ASSUMPTIONS USED	The weighted-average assumptions used to determine benefit obligations follow: SCHEDULE OF ASSUMPTIONS USED Pension Benefits Other Benefits At December 31, 2021 2020 2021 2020 Discount rate 2.80 % 2.35 % 3.10 % 2.90 %
Net Periodic Benefit Cost [Member]
Multiemployer Plan [Line Items]
SCHEDULE OF ASSUMPTIONS USED	The weighted-average assumptions used to determine net periodic benefit cost follow: SCHEDULE OF ASSUMPTIONS USED Pension Benefits Other Benefits For the year ended December 31, 2021 2020 2021 2020 Discount rate 2.35 % 3.20 % 2.90 % 3.55 3.50 % Expected (long-term) return on plan assets 7.25 % 7.25 % — —

OTHER INCOME, NET (Tables)

OTHER INCOME, NET (Tables)	12 Months Ended
	Dec. 31, 2021
Other Income and Expenses [Abstract]
SCHEDULE OF OTHER NONOPERATING INCOME	Other income, net consists of: SCHEDULE OF OTHER NONOPERATING INCOME Years Ended December 31, 2021 2020 Investment income: Interest $ 5 $ 102 Change in investment value (241 ) (248 ) (236 ) (146 ) Pension and post retirement items (1) 2,157 2,071 Miscellaneous-net 64 489 $ 1,985 $ 2,414 (1) The Company includes the service cost component for net periodic benefit cost/(income) in vessel expenses and general and administrative expenses and other components in other income, net on the consolidated statements of operations.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Product Information [Line Items]
Property, Plant and Equipment, Estimated Useful Lives		Vessels are recorded at cost and are depreciated to their estimated salvage value on the straight-line basis over the estimated useful lives of the vessels, which are generally 25 years (except for new ATBs for which estimated useful lives of 30 years are used)
Interest costs capitalized		$ 1,427,000	$ 3,717,000
Amortization of financing costs and discounts		2,099,000	2,286,000
Accounts Receivable, Allowance for Credit Loss	$ 150,000	150,000	4,604,000
Accounts Receivable, Credit Loss Expense (Reversal)		(1,080,000)
Recognized recovery amount	1,080
Gain (Loss) Related to Litigation Settlement		$ 1,080,000
Income Tax Examination, Likelihood of Unfavorable Settlement		greater than 50
Philadelphia Energy Solutions LLC [Member]
Product Information [Line Items]
Accounts Receivable, Credit Loss Expense (Reversal)			$ 4,300,000
Accounts Receivable, after Allowance for Credit Loss	4,300,000	$ 4,300,000
Hilcorp North Slope LLC [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member]
Product Information [Line Items]
Concentration Risk, Percentage		28.20%
BP Products North America Inc [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customer [Member]
Product Information [Line Items]
Concentration Risk, Percentage		10.60%
Monroe Energy LLC [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | One Customer [Member]
Product Information [Line Items]
Concentration Risk, Percentage			12.60%
BP Exploration Alaska Inc [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Two Customer [Member]
Product Information [Line Items]
Concentration Risk, Percentage			11.40%
Sea River Maritime Inc [Member] | Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Three Customer [Member]
Product Information [Line Items]
Concentration Risk, Percentage			10.10%
US Maritime Security Program [Member]
Product Information [Line Items]
Vessel expense		$ 10,500,000	$ 9,665,000
Term Loan Credit Agreement [Member]
Product Information [Line Items]
Unamortized deferred expense	$ 5,542,000	$ 5,542,000	$ 6,998,000
Minimum [Member]
Product Information [Line Items]
Property plant and equipment useful life		3 years
Maximum [Member]
Product Information [Line Items]
Property plant and equipment useful life		15 years

SCHEDULE OF EARNINGS PER SHARE

SCHEDULE OF EARNINGS PER SHARE (Details) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Per Share Amounts:
Net income	$ (46,252)	$ 30,004
Weighted average common shares outstanding: Class A common stock - basic	90,587,454	89,794,392
Weighted average common shares outstanding: Class A common stock - diluted	90,587,454	90,838,262

EARNINGS PER COMMON SHARE (Deta

EARNINGS PER COMMON SHARE (Details Narrative) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		1,043,870
Outstanding Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of class common stock issuable	3,371,177	2,605,263
Outstanding Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of class common stock issuable	1,478,756	1,478,756
Restricted Stock Units And Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,017,810
Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		371,893
Class A Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price for the Class A	$ 0.01

SCHEDULE OF DISAGGREGATION OF R

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total shipping revenues		$ 359,062	$ 418,692
Time and Bareboat Charter Revenues [Member]
Disaggregation of Revenue [Line Items]
Total shipping revenues		254,744	344,512
Voyage Charter Revenues [Member]
Disaggregation of Revenue [Line Items]
Total shipping revenues	[1]	57,946	29,752
Contracts of Affreightment Revenues [Member]
Disaggregation of Revenue [Line Items]
Total shipping revenues		$ 46,372	$ 44,428
[1]	Voyage charter revenues include approximately $ 14,843 15,466

SCHEDULE OF DISAGGREGATION OF_2

SCHEDULE OF DISAGGREGATION OF REVENUE (Details) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 104,318	$ 74,180
Short-term Time Charter Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 14,843	$ 15,466

REVENUE RECOGNITION (Details Na

REVENUE RECOGNITION (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)Integer	Dec. 31, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of products participating in U.S Maritime Security Program | Integer	2
Contract with customer asset net	$ 9,351	$ 8,227
Accumulated allowance for creditloss	$ 4,604	150
2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Revenue		$ 27,402

SCHEDULE OF VESSELS AND OTHER P

SCHEDULE OF VESSELS AND OTHER PROPERTY (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Vessels, at cost	$ 1,066,327	$ 1,099,187	$ 919,212
Accumulated depreciation	(345,531)	(308,449)	(274,900)
Vessels, net	720,796	790,738	$ 644,312
Construction in progress	19,799	17,238
Finance lease right-of-use asset, at cost (Note 14)	26,940	26,940
Accumulated amortization (Note 14)	(5,906)	(2,957)
Finance lease right-of use asset, net (Note 14)	21,034	23,983
Other property, at cost	5,578	5,552
Transfers from construction in progress		25
Accumulated depreciation and amortization	(5,430)	(5,362)
Other property, net	148	215
Total vessels and other property	$ 761,777	$ 832,174

SUMMARY OF VESSEL ACTIVITY EXCL

SUMMARY OF VESSEL ACTIVITY EXCLUDING CONSTRUCTION PROGRESS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Vessel Cost	$ 1,099,187	$ 919,212
Accumulated Depreciation	(308,449)	(274,900)
Net Book Value	790,738	644,312
Vessel Cost	6,836	111,685
Accumulated Depreciation
Vessel Cost		74,076
Accumulated Depreciation
Vessel Cost
Accumulated Depreciation	(39,398)	(37,339)
Vessel Cost	(39,696)	(5,786)
Accumulated Depreciation	2,316	3,790
Vessel Cost	1,066,327	1,099,187
Accumulated Depreciation	(345,531)	(308,449)
Net Book Value	$ 720,796	$ 790,738

SUMMARY OF DRYDOCKING ACTIVITY

SUMMARY OF DRYDOCKING ACTIVITY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Vessel Cost	$ 1,099,187	$ 919,212
Additions		74,076
Vessel Cost	1,066,327	1,099,187
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Vessel Cost	43,134	23,734
Additions	15,017	33,398
Drydock amortization	(14,809)	(13,998)
Vessel Cost	$ 43,342	$ 43,134

VESSELS, OTHER PROPERTY AND D_3

VESSELS, OTHER PROPERTY AND DEFERRED DRYDOCK (Details Narrative) $ in Thousands	Mar. 12, 2020USD ($)	Jun. 30, 2021USD ($)	Apr. 30, 2021USD ($)	Dec. 31, 2020bbl	Aug. 31, 2020USD ($)	May 31, 2020USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Proceeds from Sale of Intangible Assets		$ 32,128	$ 31,850
Property plant and equipment volume | bbl				204,000
Property plant and equipment					$ 1,407	$ 1,407		$ 32,128	$ 1,407
Weighted average years of vessel								13 years 6 months
Debt instrument collateral amount								$ 714,306
Accrual of capital expenditures								1,341	$ 1,820
Overseas Gulf Coast [Member]
Gain (Loss) on Disposition of Intangible Assets							$ 5,446
Alaska Tanker Company, LLC [Member]
Business combination consideration	$ 54,000							$ 19,172

INVESTMENT IN ALASKA TANKER C_2

INVESTMENT IN ALASKA TANKER COMPANY, LLC (Details Narrative) - Alaska Tanker Company, LLC [Member] - USD ($) $ in Thousands	Mar. 12, 2020	Dec. 31, 2021	Dec. 31, 2019
Property Plant And Equipment			$ 54,000
Acquisition by borrowing			$ 54,000
Business acquisition period			5 years
Purchase of vessels term description			In connection with the purchase of the vessels from BP, the Company agreed to time charter arrangements with BP for terms of 2.5 years to 6.4 years at a fixed daily rate with an annual escalation and five renewal options for one year each
Business Combination, Consideration Transferred	$ 54,000	$ 19,172
Pension and postretirement plan	9,898
Deferred compensation plan	$ 8,812

SCHEDULE OF INTANGIBLE ASSETS (

SCHEDULE OF INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, balance	$ 27,217	$ 31,817
Amortization	(4,600)	(4,600)
Intangible assets, balance	$ 22,617	$ 27,217

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Core Deposits, Gross	$ 92,000	$ 92,000
Finite-Lived Intangible Asset, Useful Life	5 years
Finite-Lived Intangible Asset, Expected Amortization	$ 4,600

SCHEDULE OF LONG-TERM DEBT INST

SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Total debt	$ 444,740	$ 429,120
Less current installments of long-term debt	(22,225)	(38,922)
Total long-term debt	422,515	390,198
Term Loan One [Member]
Short-term Debt [Line Items]
Total debt	21,633	22,972
Alaska Tankers Term Loan [Member]
Short-term Debt [Line Items]
Total debt	30,236	50,360
OSG 204 LLC Term Loan [Member]
Short-term Debt [Line Items]
Total debt	26,231	31,283
OSG 205 LLC and OSG Courageous II LLC Term Loan [Member]
Short-term Debt [Line Items]
Total debt	46,380	48,586
Unsecured Senior Notes [Member]
Short-term Debt [Line Items]
Total debt	390	691
Term Loan Two [Member]
Short-term Debt [Line Items]
Total debt	319,870
Term Loan Three [Member]
Short-term Debt [Line Items]
Total debt		252,057
Term Loan Four [Member]
Short-term Debt [Line Items]
Total debt		$ 23,171

SCHEDULE OF LONG-TERM DEBT IN_2

SCHEDULE OF LONG-TERM DEBT INSTRUMENTS (Details) (Parenthetical) - USD ($) $ in Thousands	1 Months Ended		12 Months Ended
	Aug. 31, 2020	Aug. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Debt instrument, maturity date, description	due in 2023
Term Loan One [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description		five-year	due 2024
Debt instrument, unamortized deferred costs			$ 398	$ 426
Alaska Tankers Term Loan [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description			due 2025
Debt instrument, unamortized deferred costs			$ 421	623
OSG 204 LLC Term Loan [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description			due 2025
Debt instrument, unamortized deferred costs			$ 646	636
OSG 205 LLC and OSG Courageous II LLC Term Loan [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description			due 2027
Debt instrument, unamortized deferred costs			$ 734	$ 564
Term Loan Two [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description			due 2028
Debt instrument, unamortized deferred costs			$ 3,343
Term Loan Three [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description			due 2023
Debt instrument, unamortized deferred costs			$ 4,676
Term Loan Four [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description			due 2026
Debt instrument, unamortized deferred costs			$ 73

SCHEDULE OF DEBT EXPENSES (Deta

SCHEDULE OF DEBT EXPENSES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Total expense on debt facilities	$ 28,682	$ 25,779
Term Loan One [Member]
Short-term Debt [Line Items]
Total expense on debt facilities	1,407	2,383
Alaska Tankers Term Loan [Member]
Short-term Debt [Line Items]
Total expense on debt facilities	2,193	2,014
OSG 204 LLC Term Loan [Member]
Short-term Debt [Line Items]
Total expense on debt facilities	1,747	1,365
OSG 205 LLC and OSG Courageous II LLC Term Loan [Member]
Short-term Debt [Line Items]
Total expense on debt facilities	3,423	374
Unsecured Senior Notes [Member]
Short-term Debt [Line Items]
Total expense on debt facilities	32	302
Term Loan Two [Member]
Short-term Debt [Line Items]
Total expense on debt facilities	6,550
Term Loan Three [Member]
Short-term Debt [Line Items]
Total expense on debt facilities	12,618	18,132
Term Loan Four [Member]
Short-term Debt [Line Items]
Total expense on debt facilities	$ 712	$ 1,209

SCHEDULE OF AGGREGATE ANNUAL PR

SCHEDULE OF AGGREGATE ANNUAL PRINCIPAL PAYMENTS (Details) $ in Thousands	Dec. 31, 2021USD ($)
Debt Disclosure [Abstract]
2022	$ 22,222
2023	23,730
2024	43,184
2025	54,903
2026	19,268
Thereafter	286,972
Total	$ 450,279

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($)	Nov. 30, 2021	Sep. 29, 2021	Mar. 12, 2021	Jul. 30, 2020	Jun. 30, 2021	Aug. 31, 2020	Aug. 31, 2019	Dec. 31, 2018	Nov. 30, 2018	Dec. 31, 2021	Dec. 31, 2020
Short-term Debt [Line Items]
Debt, Weighted Average Interest Rate										7.20%	5.21%
Debt instrument, maturity date, description						due in 2023
Prepayment Of Term Loan		$ 16,000				$ 1,307,000
Loans payable		$ 7,961,000
Debt instrument, interest rate, stated percentage		7.75%
Debt instrument, maturity date		Oct. 1, 2028
Repayments of debt										$ 33,316,000	$ 44,933,000
Interest expense, debt										$ 25,609,000	$ 23,134,000
Stonebriar Commercial Finance LLC [Member]
Short-term Debt [Line Items]
Debt instrument, face amount	$ 325,000
Wintrust Commercial Finance [Member]
Short-term Debt [Line Items]
Debt instrument, face amount									$ 27,500,000
Debt instrument, maturity date, description									seven-year term
Banc of America Leasing & Capital, LLC [Member]
Short-term Debt [Line Items]
Prepayment Of Term Loan			$ 16,000,000
Loans payable			$ 54,000,000
Debt instrument, interest rate, stated percentage			4.43%
Debt instrument, maturity date			Mar. 12, 2025
Banc of America Leasing & Capital, LLC [Member] | Stonebriar Commercial Finance LLC [Member]
Short-term Debt [Line Items]
Debt instrument, face amount	$ 325,000,000
Wintrust Commercial Finance and Other Syndicate Lenders [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description					five-year term
Prepayment Of Term Loan					$ 3,000,000
Loans payable					$ 32,933,000
Debt instrument, interest rate, stated percentage					5.00%					5.75%
Debt instrument, maturity date					Jun. 1, 2025
PGIM, Inc [Member]
Short-term Debt [Line Items]
Debt instrument, face amount								$ 325,000,000
Debt instrument, maturity date, description								five-year term.
Term Loan Credit Facility [Member] | Stonebriar Commercial Finance [Member]
Short-term Debt [Line Items]
Debt instrument, face amount		$ 325,000,000
Debt instrument, maturity date, description		due 2023
Term Loan Credit Facility [Member] | Prudential Insurance Company of America [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description		due 2026
Term Loan Credit Facility [Member] | Banc of America Leasing & Capital, LLC [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description		due 2025
Due 2023 [Member] | Prudential Insurance Company [Member]
Short-term Debt [Line Items]
Payment of Term Loan		$ 237,983
Due Two Thousand Twenty Six [Member] | Wintrust Commercial Finance [Member]
Short-term Debt [Line Items]
Payment of Term Loan		$ 20,298
OSG 205 LLC And OSG Courageous II LLC [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description	due 2023
Prepayment Of Term Loan	$ 15,811,000
Debt instrument, maturity date	Dec. 1, 2027
Construction Loan	$ 49,150,000
Debt drawn down to to finance	$ 46,711,000
Debt Instrument, Interest Rate Terms										In connection with the amendment, the interest rate was updated to a fixed interest rate of 6.87% until the end of the first quarter of 2022. Beginning in the second quarter of 2022, the interest rate returns to a fixed interest rate of 6.37%.
OSG 205 LLC And OSG Courageous II LLC [Member] | Wintrust Commercial Finance and Other Syndicate Lenders [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description	seven-year
Debt instrument, interest rate, stated percentage	6.37%
Term Loan One [Member]
Short-term Debt [Line Items]
Debt instrument, maturity date, description							five-year			due 2024
Loans payable							$ 50,000,000
Debt instrument, interest rate, stated percentage							5.54%
Debt instrument, maturity date							Sep. 30, 2024
Repayments of debt				$ 24,000,000
Term Loan One [Member] | Stonebriar Commercial Finance LLC [Member]
Short-term Debt [Line Items]
Debt instrument, face amount										$ 325,000,000
Unsecured Senior Notes [Member]
Short-term Debt [Line Items]
Debt instrument, face amount										$ 146,000,000
Debt instrument, interest rate, stated percentage										7.50%
Debt instrument, maturity date										Feb. 15, 2024
Unsecured Senior Notes [Member] | Equity Plan [Member]
Short-term Debt [Line Items]
Debt instrument, interest rate, stated percentage										7.50%
Debt instrument, maturity date										Feb. 15, 2021
Election 1 Notes [Member] | Equity Plan [Member]
Short-term Debt [Line Items]
Debt instrument, face amount										$ 6,508,000
Election 2 Notes [Member] | Equity Plan [Member]
Short-term Debt [Line Items]
Debt instrument, face amount										$ 138,708,000
Debt instrument, maturity date, description										Notes matured in February 2021
Debt instrument, interest rate, stated percentage										7.50%
Unsecured Debt										$ 301,000

SCHEDULE OF HIERARCHY CATEGORIZ

SCHEDULE OF HIERARCHY CATEGORIZED ON FAIR VALUE (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash	[1]	$ 83,253	$ 69,819
Total assets		83,253	69,819
Term loan agreements, fair value		444,740	429,120
Term Loan Agreement Due 2024 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		21,633	22,972
Alaska Tankers Term Loan Agreement Due 2025 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		30,236	50,360
OSG 204 L L C Term Loan Agreement Due 2025 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		26,231	31,283
OSG 205 L L Aand OSG Courageous Second L L C Term Loan Due 2027 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		46,380	48,586
Term Loan Agreement Due 2028 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		319,870
Unsecured Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		390	691
Term Loan Agreement Due 2023 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value			252,057
Term Loan Agreement Due 2026 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value			23,171
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash	[1]	83,253	69,819
Total assets		83,253	69,819
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | Term Loan Agreement Due 2024 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | Term Loan Agreements Due 2024 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | Alaska Tankers Term Loan Agreement Due 2025 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | OSG 204 L L C Term Loan Agreement Due 2025 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | OSG 205 L L Aand OSG Courageous Second L L C Term Loan Due 2027 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | Term Loan Agreement Due 2028 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | Unsecured Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | Term Loan Agreement Due 2023 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 1 [Member] | Term Loan Agreement Due 2026 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash	[1]
Total assets
Term loan agreements, fair value		445,081	436,517
Fair Value, Inputs, Level 2 [Member] | Term Loan Agreement Due 2024 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		21,229	23,535
Fair Value, Inputs, Level 2 [Member] | Alaska Tankers Term Loan Agreement Due 2025 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		28,695	49,357
Fair Value, Inputs, Level 2 [Member] | OSG 204 L L C Term Loan Agreement Due 2025 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		25,265	31,562
Fair Value, Inputs, Level 2 [Member] | OSG 205 L L Aand OSG Courageous Second L L C Term Loan Due 2027 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		47,863	52,199
Fair Value, Inputs, Level 2 [Member] | Term Loan Agreement Due 2028 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		321,630
Fair Value, Inputs, Level 2 [Member] | Unsecured Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value		$ 399	715
Fair Value, Inputs, Level 2 [Member] | Term Loan Agreement Due 2023 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value			257,228
Fair Value, Inputs, Level 2 [Member] | Term Loan Agreement Due 2026 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Term loan agreements, fair value			$ 21,921
[1]	Includes current and non-current restricted cash totaling $ 81 122

SCHEDULE OF HIERARCHY CATEGOR_2

SCHEDULE OF HIERARCHY CATEGORIZED ON FAIR VALUE (Details) (PARENTHETICAL) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Restricted cash, fair value disclosure	$ 81	$ 122

FAIR VALUE MEASUREMENTS AND F_3

FAIR VALUE MEASUREMENTS AND FAIR VALUE DISCLOSURES (Details Narrative) $ in Thousands	3 Months Ended
	Sep. 30, 2021USD ($)
Fair Value Disclosures [Abstract]
Impairment charges	$ 1,000

SCHEDULE OF ACCOUNTS PAYABLE, A

SCHEDULE OF ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounts payable	$ 9,496	$ 8,717
Payroll and benefits	12,013	14,184
Interest	2,565	1,752
Insurance	335	1,040
Accrued drydock and repair costs	450	2,371
Bunkers and lubricants	1,125	725
Charter revenues received in advance	18,343	8,677
Accrued vessel expenses	4,095	9,642
Accrued general and administrative, primarily professional fees	860	307
Other	619	674
Accounts payable and other accrued liabilities, current	$ 49,901	$ 48,089

SCHEDULE OF INCOME TAX (EXPENSE

SCHEDULE OF INCOME TAX (EXPENSE)/BENEFIT (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Current - Federal	$ (8)	$ 161
Current - State	(131)	(48)
Deferred - Federal	15,275	(5,401)
Deferred - State	2,961	(897)
Total	$ 18,097	$ (6,185)

SCHEDULE OF EFFECTIVE INCOME TA

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	21.00%	21.00%
State taxes, net of federal benefit	3.70%	2.90%
Change in valuation allowance	0.90%	0.10%
Equity awards	0.00%	0.10%
Return to provision	(0.50%)	0.50%
Nondeductible expenses	0.00%	0.10%
Uncertain tax positions and tax examination settlement	0.00%	(1.90%)
U.S. income subject to tonnage tax	2.20%	3.80%
U.S. income subject to tonnage tax	(2.20%)	(3.80%)
Other	0.80%	(1.90%)
Effective tax rate	28.10%	17.10%

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Vessels and other property	[1]	$ 121,169	$ 124,304
Prepaid expenditures		9,445	9,130
Operating lease right-of-use assets		40,176	55,754
Other-net		9
Total deferred tax liabilities		170,799	189,188
Loss carryforwards		75,874	64,487
Operating lease liability		40,217	55,426
Finance lease liability		5,180	5,754
Employee compensation and benefit plans		178	2,456
Financing and professional fees		5,993	15
Accrued expenses and other		33	1,062
Total deferred tax assets		127,475	129,200
Valuation allowance		(20,420)	(21,004)
Net deferred tax assets		107,055	108,196
Net deferred tax liabilities		$ 63,744	$ 80,992
[1]	Includes deferred tax liabilities related to finance lease right-of-use assets totaling $ 4,737 5,441

SCHEDULE OF DEFERRED TAX ASSE_2

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred tax liabilities for finance lease right-of-use assets	$ 4,737	$ 5,441

SCHEDULE OF UNRECOGNIZED TAX BE

SCHEDULE OF UNRECOGNIZED TAX BENEFITS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Balance of unrecognized tax benefits as of January 1,	$ 813	$ 2,495
Increases/(decreases) for positions taken in prior years	21	(1,177)
Decreases due to settlements with taxing authorities		(505)
Balance of unrecognized tax benefits as of December 31,	$ 834	$ 813

TAXES (Details Narrative)

TAXES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income tax expense (benefit)	$ (18,097)	$ 6,185
Operating Loss Carryforwards	$ 243,547
Operating loss carryforwards, expiration period	2034
[custom:OperatingLossCarryforwardsState-0]	$ 444,526
Income Tax Examination, Description	These U.S. state net operating loss carryforwards expire in various years from December 31, 2022 through December 31, 2041
Deferred tax assets, valuation allowance	$ 20,420	21,004
Income Taxes Paid, Net	1,751	5,695
Unrecognized tax benefits	834	813	$ 2,495
Liability for uncertainty in income taxes, noncurrent	179	189
Overseas Mykonos and Overseas Santorini [Member]
Income tax expense (benefit)	$ 6,700	$ 6,500
Overseas Mykonos [Member]
Effective income tax rate reconciliation, change in enacted tax rate, percent	2.20%
Overseas Santorini [Member]
Effective income tax rate reconciliation, change in enacted tax rate, percent	(3.80%)

SCHEDULE OF RESTRICTED STOCK UN

SCHEDULE OF RESTRICTED STOCK UNITS UNDER INCENTIVE PLANS (Details) - Restricted Stock Units (RSUs) [Member] - Common Class A [Member] - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Nonvested Shares Outstanding	2,605,263	1,718,865
Granted	1,782,133	1,667,633
Vested	(963,338)	(755,898)
Forfeited	(52,881)	(25,337)
Nonvested Shares Outstanding	3,371,177	2,605,263

SCHEDULE OF RESTRICTED STOCK _2

SCHEDULE OF RESTRICTED STOCK UNITS UNDER INCENTIVE PLANS (Details) (Parenthetical) - Restricted Stock Units (RSUs) [Member] - Common Class A [Member] - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Maximum [Member]
Class of Stock [Line Items]
Share based compensation, restricted stock vested, exercise price per share	$ 2.12	$ 1.74
Share based award, restricted stock units, forfeited price per share	1.69	1.74
Minimum [Member]
Class of Stock [Line Items]
Share based compensation, restricted stock vested, exercise price per share	2.31	2.32
Share based award, restricted stock units, forfeited price per share	$ 2.59	$ 2.27

SCHEDULE OF STOCK OPTIONS ACTIV

SCHEDULE OF STOCK OPTIONS ACTIVITY UNDER INCENTIVE PLANS (Details) - Common Class A [Member] - shares shares in Thousands	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Options Outstanding, Beginning Balance	1,478,756	1,478,756
Options Outstanding, Ending Balance	1,478,756	1,478,756
Options Exercisable, Ending Balance	1,478,756

CAPITAL STOCK AND STOCK COMPE_3

CAPITAL STOCK AND STOCK COMPENSATION (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	Jun. 06, 2017	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Share-based payment arrangement, noncash expense		$ 2,232	$ 2,333
Weighted average remaining contractual term		6 years 2 months 4 days
Share-based payment arrangement, option, exercise price range, exercisable, weighted average exercise price		$ 2.67	$ 2.67
Unrecognized compensation cost		$ 4,441
Expected to be Recognized [Member]
Class of Stock [Line Items]
Weighted average remaining contractual term		1 year 7 months 17 days
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Weighted average grant date fair value		$ 2.36	$ 2.03
Share-based payment arrangement, noncash expense		$ 2,232	$ 2,321
Restricted Stock Units (RSUs) [Member] | Subject to Increase RSU Award [Member]
Class of Stock [Line Items]
Number of grants awarded during the period		291,112
Roic Target Restricted Stock Units Awards [Member]
Class of Stock [Line Items]
Number of grants awarded during the period		544,857
Small Company Mid Value Prefeered Stock [Member]
Class of Stock [Line Items]
Number of grants awarded during the period		873,340
Maximum [Member]
Class of Stock [Line Items]
Weighted average grant date fair value		$ 5.57
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | Subject to Increase RSU Award [Member]
Class of Stock [Line Items]
Number of grants awarded during the period		181,619
Minimum [Member]
Class of Stock [Line Items]
Weighted average grant date fair value		$ 1.70
Incentive Plans [Member] | Maximum [Member]
Class of Stock [Line Items]
Number of shares increased for issuance	1,500,000
Class A Warrants [Member]
Class of Stock [Line Items]
Warrants exercise price		$ 0.01
Warrant outstanding		19,110,902
Number of warrants exercised		124,862	2,498
Common Class A [Member]
Class of Stock [Line Items]
Stock repurchased during period, shares		185,459	104,552
Stock repurchased during period per share amount		$ 2.18	$ 1.90
Number of convertible shares issued during the period		3,631,071
Number of shares newly issued		23,612	473
Common Class A [Member] | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Number of grants awarded during the period		1,782,133,000	1,667,633,000
Board of Directors [Member]
Class of Stock [Line Items]
Ownership percentage		77.00%
Non-employee Directors [Member] | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Number of grants awarded during the period		275,800	321,000
Weighted average grant date fair value		$ 2.29	$ 2.25
Employees, Including Senior Officers [Member] | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Number of grants awarded during the period		552,844	764,406
Weighted average grant date fair value		$ 2.36	$ 2.03
Senior Officers [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		590,251
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price		$ 2.36
Senior Officers [Member] | Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Number of grants awarded during the period		363,238	582,224

SCHEDULE OF COMPONENTS OF ACCUM

SCHEDULE OF COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Items not yet recognized as a component of net periodic benefit cost (pension  and other postretirement benefit plans)	$ 2,943	$ (282)
Accumulated other comprehensive loss	$ 2,943	$ (282)

SCHEDULE OF CHANGES IN BALANCES

SCHEDULE OF CHANGES IN BALANCES OF COMPONENT OF ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (282)
Amounts reclassified from accumulated other comprehensive income/(loss)	(297)	$ 192
Ending balance	2,943	(282)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(282)	(6,409)
Current period change, excluding amounts reclassified from accumulated other	3,522	5,935
Amounts reclassified from accumulated other comprehensive income/(loss)	(297)	192
Total change in accumulated other comprehensive loss	3,225	6,127
Ending balance	$ 2,943	$ (282)

SCHEDULE OF AMOUNTS RECLASSIFIE

SCHEDULE OF AMOUNTS RECLASSIFIED OUT OF ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total before tax	$ 387	$ 250
Tax provision	(684)	(58)
Total net of tax	(297)	192
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total net of tax	(297)	192
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Other Income/(Expense), Net [Member] | Net Periodic Benefit Costs, Shore-based Employees [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net periodic benefit costs associated with pension and postretirement benefit plans	(63)	424
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | Other Income/(Expense), Net [Member] | Net Periodic Benefit Costs, Seagoing Employees [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net periodic benefit costs associated with pension and postretirement benefit plans	$ 450	$ (174)

SCHEDULE OF INCOME TAX (EXPEN_2

SCHEDULE OF INCOME TAX (EXPENSE) BENEFIT ALLOCATED TO COMPONENT (Details) - Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Current period change excluding amounts reclassified from accumulated other comprehensive income/(loss)	$ (1,069)	$ (1,803)
Amounts reclassified from accumulated other comprehensive income/(loss)	90	(58)
Total change in accumulated other comprehensive income/(loss)	$ (979)	$ (1,861)

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME/(LOSS) (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Equity [Abstract]
Effective Income Tax Rate Reconciliation, Percent	28.10%	17.10%
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, Prior Service Cost (Credit), before Tax	$ 6,884
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), after Tax	5,708
Defined Benefit Plan, Accumulated Other Comprehensive Income (Loss), Gain (Loss), before Tax	2,944
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax	$ 2,765

SCHEDULE OF LEASE RIGHT-OF-USE

SCHEDULE OF LEASE RIGHT-OF-USE ASSETS AND LEASE LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total noncurrent operating lease assets	$ 152,027	$ 215,817
Current portion of operating lease liabilities	100,010	90,613
Noncurrent operating lease liabilities	73,150	147,154
Total operating lease liabilities	173,160	237,767
Finance lease, liability, Current portion of finance lease liabilities	4,000	4,000
Finance lease, liability, Noncurrent finance lease liabilities	18,998	21,360
Total finance lease liabilities	22,998	25,360
Vessels Chartered-In [Member]
Property, Plant and Equipment [Line Items]
Total noncurrent operating lease assets	148,681	213,414
Current portion of operating lease liabilities	99,255	89,889
Noncurrent operating lease liabilities	71,909	145,302
Total operating lease liabilities	171,164	235,191
Finance lease, Vessels and other property	26,940	26,940
Finance lease, Accumulated amortization	(5,906)	(2,957)
Finance lease, right-of-use asset less accumulated amortization	21,034	23,983
Total finance lease liabilities	22,998
Office Space [Member]
Property, Plant and Equipment [Line Items]
Total noncurrent operating lease assets	3,346	2,403
Current portion of operating lease liabilities	755	724
Noncurrent operating lease liabilities	1,241	1,852
Total operating lease liabilities	$ 1,996	$ 2,576

SCHEDULE OF FUTURE MINIMUM LEAS

SCHEDULE OF FUTURE MINIMUM LEASE COMMITMENTS UNDER MINIMUM LEASE PAYMENTS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total lease liabilities, operating lease	$ 173,160	$ 237,767
Total lease liabilities, finance Lease	22,998	25,360
Vessels Chartered-In [Member]
Property, Plant and Equipment [Line Items]
2022	102,140
2022	4,161
2023	67,118
2023	4,161
2024	9,168
2024	4,172
2025	4,535
2025	4,161
2026
2026	4,161
Thereafter
Thereafter	8,858
Net minimum lease payments, operating lease	182,961
Net minimum lease payments, finance Lease	29,674
Less: present value discount, operating lease	(11,797)
Less: present value discount, finance Lease	(6,676)
Total lease liabilities, operating lease	171,164	235,191
Total lease liabilities, finance Lease	22,998
Office Space [Member]
Property, Plant and Equipment [Line Items]
2022	780
2023	609
2024	168
2025	100
2026	102
Thereafter	885
Net minimum lease payments, operating lease	2,644
Less: present value discount, operating lease	(648)
Total lease liabilities, operating lease	$ 1,996	$ 2,576

SCHEDULE OF SUPPLEMENTAL BALANC

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES (Details)	Dec. 31, 2021	Dec. 31, 2020
Leases
Operating Lease, Weighted Average Remaining Lease Term	2 years 1 month 6 days	2 years 9 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	6.50%	6.50%
Finance Lease, Weighted Average Remaining Lease Term	7 years 1 month 6 days	8 years 1 month 6 days
Finance Lease, Weighted Average Discount Rate, Percent	7.30%	7.30%

SCHEDULE OF FUTURE MINIMUM COMM

SCHEDULE OF FUTURE MINIMUM COMMITMENTS OPERATING LEASES (Details) $ in Thousands	Dec. 31, 2021USD ($)
Leases
2022	$ 210,856
2023	147,305
2024	115,503
2025	64,417
2026	14,356
Thereafter
Net minimum lease receipts	$ 552,437

LEASES (Details Narrative)

LEASES (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)Vessels	Dec. 31, 2020USD ($)
[custom:PropertySubjectToOrAvailableForOperatingLeaseNumberOfVessels-0] | Vessels	12
Lessee, Operating Lease, Description	The Company holds options for 11 of the vessels chartered-in. For one vessel, the option can be exercised for 3-years and is available indefinitely. For the remaining 10 vessels, the options can be exercised for one, three or five years with the one-year option only usable once, while the three- and five-year options are available indefinitely. The lease payments for the charters-in are fixed throughout the option periods and the options are on a vessel-by-vessel basis that can be exercised individually. The Company exercised its option on one of its vessels to extend the term until June 2025. On December 10, 2018, terms for five of the vessels were extended for an additional three years, with terms ending in December 2022, and terms for four of the vessels were extended for an additional year, with terms ending December 2020. On December 11, 2019, the terms for the four vessels ending December 2020 were extended for an additional three years, with terms ending in December 2023.
Operating lease, expense	$ 90,166	$ 90,608
Sublease income	75,516	197,546
Non-cash operating activities for obtaining operating right-of-use assets and liabilities	15,713	1,533
Finance lease, right-of-use asset, amortization	2,949	2,957
Finance lease, interest expense	1,799	1,973
Time Charter Revenue [Member]
Operating lease, lease income	254,181	343,290
Straight line rent adjustments	563	1,222
Operating lease, residual value of leased asset	355,388	284,259
Office Space Rental [Member]
Operating lease, payments	748	739
Office Space Rental [Member] | General and Administrative Expense [Member]
Operating leases, rent expense	$ 640	$ 851
Minimum [Member]
Lessee, Operating Lease, Term of Contract	1 year
Maximum [Member]
Lessee, Operating Lease, Term of Contract	13 years

SCHEDULE OF MULTIEMPLOYER PLANS

SCHEDULE OF MULTIEMPLOYER PLANS (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Contributions made by the Company		$ 3,765	$ 3,754
AMO Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension Protection Act Zone Status	[1]	Green	Green
Rehabilitation Plan Status		No
Contributions made by the Company		$ 795	$ 580
MEBA Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension Protection Act Zone Status	[1]	Green	Green
Rehabilitation Plan Status		No
Contributions made by the Company		$ 2,748	$ 2,895
Seafarers Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension Protection Act Zone Status	[1]	Green	Green
Rehabilitation Plan Status		No
Contributions made by the Company		$ 222	$ 279
[1]	A “Yellow” Zone Status plan is a plan that has a funding ratio between 65% 80% 80%

SCHEDULE OF MULTIEMPLOYER PLA_2

SCHEDULE OF MULTIEMPLOYER PLANS (Details) (Parenthetical)	12 Months Ended
	Dec. 31, 2021
Yellow Zone Status Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan funding ratio	65.00%
Green Zone Status Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension plan funding ratio	80.00%

SCHEDULE OF BENEFIT OBLIGATIONS

SCHEDULE OF BENEFIT OBLIGATIONS IN EXCESS OF FAIR VALUE OF PLAN ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of year	$ 42,216
Fair value of plan assets at year end	44,872	$ 42,216
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	48,979	46,936
Cost of benefits earned (service cost)
Interest cost on benefit obligation	1,120	1,450
Actuarial losses/(gains)	(1,868)	3,452
Benefits paid	(2,761)	(2,859)
Plan Amendments
Acquisition
Benefit obligation at year end	45,470	48,979
Fair value of plan assets at beginning of year	42,216	36,754
Actual return on plan assets	5,257	6,726
Employer contributions	160	1,595
Benefits paid	(2,761)	(2,859)
Fair value of plan assets at year end	44,872	42,216
Unfunded status at December 31	(598)	(6,763)
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	5,871	3,572
Cost of benefits earned (service cost)	203	307
Interest cost on benefit obligation	165	386
Actuarial losses/(gains)	(435)	(857)
Benefits paid	(267)	(442)
Plan Amendments		(6,219)
Acquisition		9,124
Benefit obligation at year end	5,537	5,871
Fair value of plan assets at beginning of year
Actual return on plan assets
Employer contributions	267	442
Benefits paid	(267)	(442)
Fair value of plan assets at year end
Unfunded status at December 31	$ (5,537)	$ (5,871)

SCHEDULE OF ACCUMULATED BENEFIT

SCHEDULE OF ACCUMULATED BENEFIT OBLIGATIONS IN EXCESS OF FAIR VALUE OF PLAN ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Projected benefit obligation	$ 45,470	$ 48,979
Accumulated benefit obligation	45,470	48,979
Fair value of plan assets	$ 44,872	$ 42,216

SCHEDULE OF NET BENEFIT COSTS (

SCHEDULE OF NET BENEFIT COSTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Cost of benefits earned
Interest cost on benefit obligation	1,120	1,450
Expected return on plan assets	(2,970)	(2,612)
Amortization of prior-service costs
Recognized net actuarial loss	335	444
Net periodic benefit cost	(1,515)	(718)
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Cost of benefits earned	203	307
Interest cost on benefit obligation	165	386
Expected return on plan assets
Amortization of prior-service costs	(722)	(229)
Recognized net actuarial loss		35
Net periodic benefit cost	$ (354)	$ 499

SCHEDULE OF ASSUMPTIONS USED (D

SCHEDULE OF ASSUMPTIONS USED (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Pension Plan [Member] | Benefit Obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating net periodic benefit cost, discount rate	2.80%	2.35%
Pension Plan [Member] | Net Periodic Benefit Cost [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating net periodic benefit cost, discount rate	2.35%	3.20%
Defined benefit plan, assumptions used calculating net periodic benefit cost, expected long-term rate of return on plan assets	7.25%	7.25%
Other Pension Plan [Member] | Benefit Obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating net periodic benefit cost, discount rate	3.10%	2.90%
Other Pension Plan [Member] | Net Periodic Benefit Cost [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating net periodic benefit cost, discount rate	2.90%
Other Pension Plan [Member] | Net Periodic Benefit Cost [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating net periodic benefit cost, discount rate		3.55%
Other Pension Plan [Member] | Net Periodic Benefit Cost [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, assumptions used calculating net periodic benefit cost, discount rate		3.50%

SCHEDULE OF EXPECTED BENEFIT PA

SCHEDULE OF EXPECTED BENEFIT PAYMENTS (Details) $ in Thousands	Dec. 31, 2021USD ($)
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2022	$ 2,907
2023	2,953
2024	3,022
2025	3,075
2026	3,077
2027-2031	14,360
Total	29,394
Other Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
2022	268
2023	269
2024	268
2025	255
2026	248
2027-2031	1,282
Total	$ 2,590

SCHEDULE OF CHANGES IN FAIR VAL

SCHEDULE OF CHANGES IN FAIR VALUE OF PLAN ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	$ 44,872	$ 42,216
Cash and Cash Equivalents [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	822	773
Defined Benefit Plan, Equity Securities, US, Large Cap [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	17,005	15,998
Small Company - Mid Value [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	2,868	3,050
Small Company - Mid Growth [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	2,724	3,180
International Value [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	3,181	3,162
International Growth [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	3,360	3,326
Intermediate Term Bond Fund [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	14,870	12,662
Small Company Mid Value Prefeered Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, amount	$ 42	$ 65

PENSION, OTHER POSTRETIREMENT_3

PENSION, OTHER POSTRETIREMENT BENEFIT PLANS AND BENEFIT LIABILITIES (Details Narrative) - USD ($) $ in Thousands	Mar. 12, 2021	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Ultimate Health Care Cost Trend Rate		6.00%
Increase declining to an ultimate trend rate		4.75%
Defined contribution plan, employer discretionary contribution amount		$ 2,415	$ 2,888
Deferred Compensation Liability, Current and Noncurrent		10,727	10,079
Accounts Payable and Accrued Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Deferred Compensation Liability, Current and Noncurrent		2,640
Other Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Deferred Compensation Liability, Current and Noncurrent		8,087
Maritrans Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, contributions by employer		$ 160	$ 1,595
Defined Benefit Plan, Cash [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage		5.00%
Minimum [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage		55.00%
Minimum [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage		25.00%
Maximum [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage		75.00%
Maximum [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, plan assets, target allocation, percentage		45.00%
Alaska Tanker Company, LLC [Member]
Defined Benefit Plan Disclosure [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 9,898
Retirement Benefits, Description		The postretirement medical and life insurance plan provided benefits to shore-based employees and nonunion licensed deck officers at least 55 years of age with 10 years or more of service, as defined.
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent		100.00%
Acquisition by borrowing		20 years
Alaska Tanker Company, LLC [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent		5.00%
Alaska Tanker Company, LLC [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent		50.00%
Alaska Tanker Company, LLC [Member] | Osg Postretirement Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Increase (Decrease), Cost	$ 9,124
Gain on post retirement plan		$ 1,485
Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment		$ 6,219

SCHEDULE OF OTHER NONOPERATING

SCHEDULE OF OTHER NONOPERATING INCOME (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Other Income and Expenses [Abstract]
Interest		$ 5	$ 102
Change in investment value		(241)	(248)
Investment income		(236)	(146)
Pension and post retirement items	[1]	2,157	2,071
Miscellaneous-net		64	489
Other income/(expense), net		$ 1,985	$ 2,414
[1]	The Company includes the service cost component for net periodic benefit cost/(income) in vessel expenses and general and administrative expenses and other components in other income, net on the consolidated statements of operations.