seasonal strength in the three months to September 30.

Overseas Shipholding Group, Inc,. (OSG) reported a $767,000 third quarter loss, similar to third quarter a year earlier.

But it said lower revenue in its operations in the dry bulk and tanker markets were offset by Celebrity's seasonal strength and by OSG's US flag tanker fleet, the company said.

Celebrity's Meridien and Zenith cruise ships call in Bermuda each week during the summer.

For the nine months ended September 30, OSG made $7.7 million, reflecting a gain on vessel sales, versus a loss of $10 million for the first three quarters of the prior year. Gains from vessel sales were $4.5 million in 1996.

BUSINESS BUC