Morten Arntzen was appointed President and Chief Executive Officer of OSG in January 2004. Since his arrival, Mr. Arntzen has led OSG through a period of strong growth by focusing on a balanced growth strategy and a disciplined financial and investment philosophy. Under Mr. Arntzen's leadership, the Company has grown within its three market segments - crude oil, products and U.S. Flag - nearly doubling its fleet from 53 operating and newbuild vessels to a fleet of more than 100 ships that transport petroleum and gas products worldwide.

Mr. Arntzen has guided OSG through acquisitions totaling nearly $2 billion, expanding the Company's presence in the products trade, lightering and in the U.S. Flag Jones Act market. Equity market transactions have generated $1.04 billion and include the creation and initial public offering of Double Hull Tankers, Inc. (now DHT Maritime, Inc.)

Prior to joining OSG, Mr. Arntzen was Chief Executive Officer of American Marine Advisors, Inc. (AMA), a U.S.-based merchant banking firm specializing in maritime industry merger and acquisition advisory work and corporate restructuring for a global client base. Prior to his work at AMA, he ran the Global Transportation Group for Chase Manhattan Bank and Chemical Bank. He also created and ran the Global Shipping Group for Manufacturers Hanover Trust Company.

Mr. Arntzen is a board member of Royal Caribbean Cruises Ltd. and serves on its Audit Committee and Environment, Safety and Security Committee. He is also a board member of the Seaman's Church Institute in New York and New Jersey, is active with the American Bureau of Shipping and is a member of the Board of Trustees of Maine Maritime Academy and New Canaan Country School. He has been an OSG Board member since 2004.

Mr. Arntzen holds a bachelor of arts degree from Ohio Wesleyan University and a master of international affairs degree from Columbia University.