Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  BHR Capital LLC
2. Date of Event Requiring Statement (Month/Day/Year)
07/15/2015
3. Issuer Name and Ticker or Trading Symbol
OVERSEAS SHIPHOLDING GROUP INC [NONE]
(Last)
(First)
(Middle)
545 MADISON AVENUE, 10TH FLOOR
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10022
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Class A Common Stock 5,109,227
I
See footnote (1)
Class A Common Stock 4,779,274
I
See footnote (2)
Class A Common Stock 168,563
I
See footnote (3)
Class A Common Stock 2,613,781
I
See footnote (4)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Class A Warrant (right to buy)   (5) 08/05/2039 Class A Common Stock 15,610,274 $ 0.01 I See footnote (1)
Class A Warrant (right to buy)   (6) 08/05/2039 Class A Common Stock 14,602,305 $ 0.01 I See footnote (2)
Class A Warrant (right to buy)   (5) 08/05/2039 Class A Common Stock 504,851 $ 0.01 I See footnote (3)
Class A Warrant (right to buy)   (6) 08/05/2039 Class A Common Stock 7,828,359 $ 0.01 I See footnote (4)

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
BHR Capital LLC
545 MADISON AVENUE, 10TH FLOOR
NEW YORK, NY 10022
    X    

Signatures

/s/ William Brown, President / COO 07/27/2015
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The securities are directly held by an investment vehicle to which the Reporting Person serves as investment adviser. The Reporting Person disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
(2) The securities are directly held by an investment vehicle to which the Reporting Person serves as managing member. The Reporting Person disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
(3) The securities are directly held by an investment vehicle to which the Reporting Person serves as investment adviser. The Reporting Person disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
(4) The securities are directly held by an investment vehicle to which the Reporting Person serves as investment adviser. The Reporting Person disclaims pecuniary interest in the reported securities except to the extent of its economic interest.
(5) The securities are not currently exercisable due to regulatory restrictions and will not become exercisable until they are held by a U.S. person.
(6) The securities are currently exercisable.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

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