Overseas Shipholding Group (OSG), which holds a 49 percent interest in Celebrity Cruises, has announced that the cruise line posted net income of $1 million on revenues of $102 million for the second quarter, ended June 30, 1996, compared to a net loss of $1.4 million on revenues of $73 million for the same period last year.

For the first six months of 1996, Celebrity posted a loss of $4.5 million on revenues of $196.5 million compared to a loss of $4 million on revenues of $138.6 million for the first six months of 1995.