EXHIBIT 23.1


We consent to the reference to our firm under the caption "Experts" and to
the use of our report dated February 14, 2001, in the Registration Statement
(Form S-3 No. 333-62702) and the related Prospectus of Overseas Shipholding
Group, Inc. for the registration of 5,000,000 shares of its common stock.


                                                          ERNST & YOUNG LLP


New York, New York
June 14, 2001